Press Release

Used Electric Vehicle Battery Market to be dominated by Energy Storage Applications through 2027

Increased demand for zero-emission vehicles and growing demand for recycled products & materials are expected to drive the growth of the global used electric vehicle battery market in the forecast period, 2023-2027.

According to TechSci Research report, Used Electric Vehicle Battery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, the global used electric vehicle battery market is anticipated to grow at a significant rate in the forecast period, 2023-2027. Growing energy requirements across the globe for different purposes is making the market players look for cost-effective solutions that meet requirements. Electric vehicle batteries are replaced after they lose around 20 percent of their capacity, and there is still 80 percent of the battery capacity that can be used for stationary storage applications. Used electric vehicle battery manufacturers are making efforts to tap into the remaining battery life to cut costs and greenhouse emissions. Lithium-ion batteries can have up to 12 years of life and still have the possibility to be utilized for a second life. It can provide industrial and commercial backup for consumers and the grid. The economic benefits offered by battery reuse can lower the upfront costs of electric vehicle battery costs and enhance the value of the electric vehicle.

However, the availability of a large number of battery packs available in the market and falling costs of new batteries may restrain the global used electric vehicle battery market in the forecast period.

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The global used electric vehicle battery market is segmented into vehicle type, type, application, regional distribution, and competitive landscape.

Based on vehicle type, the market is divided into two-wheeler, passenger cars and commercial vehicles. Passenger car is expected to hold the largest market share in the forecast period. Increased preference of consumers for private vehicle ownership and the comfort and convenience offered by the vehicles is driving the segment demand.

Based on the type, the market is divided into lead acid and lithium-ion. The lithium-ion segment is expected to capture the highest market share over the next five years. Lithium-ion batteries offer a significant advantage over their counterparts, such as high efficiency, high power-to-weight ratio, and low power discharge rate, amongst others. The rise in the sales and production of electric vehicles is expected to accelerate the demand for lithium-ion batteries over the next five years.

Based on application, the market is divided into energy storage, electric vehicle charging, base station, low-speed EV, and others. Energy storage applications are expected to account for a significant market share in the forecast period as they require less frequent recycling to make them usable. It can be used to store energy and can be further utilized for other applications.

On the basis of regional analysis, Asia-pacific is expected to witness substantial market growth in the forecast period, 2023-2027. The high growth of the electric vehicle market in the region and the favorable government policies providing incentives, income tax benefits, and rebates are producing a large number of batteries that needs to be recycled or disposed of after usage. It is expected to be a lucrative market due to high government support and the need to utilize a large number of electric vehicle batteries.

Major operating companies operating in global used electric vehicle battery market are:

  • BMW AG
  • Nissan Motor Co. Ltd.
  • General Motors Company
  • Toyota Corporation
  • Daimler AG
  • Tesla Inc.


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“Several companies are working on the development of effective recycling techniques that can recycle lithium-ion batteries in an optimized manner and recycle raw materials such as cobalt, lithium, and others. The advent of novel recycled batteries having low cost and are environment friendly, and the high-end investments in research and development activities are expected to create lucrative growth opportunities for the global used electric vehicle battery market in the forecast period. The countries moving towards achieving the net-zero carbon emission target and the huge popularity of electric vehicles are expected to influence the market demand. Also, the rapid entry of market players to commercialize the used electric battery applications are expected to propel the global used electric vehicle battery market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Used Electric Vehicle Battery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), By Type (Lead Acid, Lithium-Ion), By Application (Energy Storage, Electric Vehicle Charging, Base Station, Low-Speed EV, Others), and By Region”, has evaluated the future growth potential of global used electric vehicle battery and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global used electric vehicle battery market.


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Used Electric Vehicle Battery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), By Type (Lead Acid, Lithium-Ion), By Application (Energy Storage, Electric Vehicle Charging, Base Station, Low-Speed EV, Others), and By Region

Automotive | Oct, 2022

Increased demand for recycled products & materials and the growing popularity of zero-emission vehicles are expected to drive the demand for the global used electric vehicle battery market in the forecast period, 2023-2027.

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