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07.08.2025 - 18:07:52

Battery Scrap Market Size to Grow USD 83.7 Billion by 2032 at a CAGR of 9.1% | Valuates Reports

in order to promote the industry's sustainable growth. The EV ecosystem is strengthened by battery recycling, which not only makes it easier to dispose of expended EV batteries but also increases the amount of recycled materials available for use in new battery production.

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BATTERY SCRAP MARKET SHARE

With about half of the worldwide battery scrap market share in terms of revenue in 2022, the lithium-ion segment led the market based on product type and is expected to continue leading during the forecast period. Because of its high energy density and ability to be recharged, lithium-ion batteries find extensive application in a wide range of fields, such as consumer electronics, electric vehicles (EVs), renewable energy storage systems, and portable gadgets.

The electric vehicle sector accounted for roughly three-fifths of the worldwide battery scrap market size in terms of revenue in 2022 and is expected to continue leading the market for the duration of the forecast period. The primary way that electric vehicles (EVs) contribute to the battery scrap market is by exchanging their lithium-ion batteries. The battery scrap business is greatly impacted by the recycling and reuse of these spent EV batteries, which is essential for environmental sustainability, resource conservation, and the ethical expansion of the electric car market.

With over half of the worldwide market revenue in 2022, Asia-Pacific had the largest revenue share and is expected to lead the forecast for the battery scrap market. The adoption of electric vehicles has been leading the Asia-Pacific region, with China leading the world in EV sales. As a result, efforts to recycle EV batteries in order to recover important elements like nickel, cobalt, and lithium have increased. The aforementioned elements will present market development prospects for battery scrap.

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Key Companies:

Li-CycleECOBATSunlight GroupUmicoreGravita India Ltd.Aqua Metals, IncExide Industries Ltd.Engitec Technologies SpAHusky Battery Solutions Ltd.Guangdong Brunp recycling Technology Co., Ltd.

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

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