Electric Vehicle (EV) Battery Recycling Market Size, Share, Growth Analysis, By Chemistry(Lithium-ion batteries, lead-acid, nickel, and others), By Process(Pyrometallurgical, hydrometallurgical, and others), By Application(Electric cars, electric buses, energy storage systems, and others), By Region - Industry Forecast 2024-2031

North America is expected to account for the significant share during the forecast period. The growth of this region is attributed to presence of major players in this region, higher disposable income of the consumers, implementation of the electric vehicles in the transportation. In North America lead-acid batteries are recycled at a rate of roughly 100%. The market is anticipated to grow as a result of the presence of significant recyclers including Call2Recycle, Aqua Metals, Enersys, and Battery Solutions, Inc.

The Asia Pacific region is anticipated to control the global market during the forecast period. The growing production and sales of electric vehicle in this region is expected to drive the market. China is the leading producer of the electrical vehicles and hybrid cars. For instance, in 2021, China produced around 2.9 million battery electric vehicles, an increase of 166 percent compared to 2020. In the same year, 601,000 plug-in hybrid cars were produced in China, and increase of 131 percent compared to the previous years. In addition, the increasing investments by the public and private sector to develop the electric vehicle battery recycling industry across the region is anticipated to drive the market in the coming years.