The electric vehicle (EV) battery recycling market was estimated at 2.3 billion U.S. dollars in 2022. This sector is forecast to grow at a compound annual growth rate of 27.3 percent over the coming years, to reach 9.8 billion dollars in 2028. As more EVs enter the global vehicle fleet, massive amounts of retired EV batteries will be available for repurposing and/or as sources for the materials needed for further battery production.
Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028
(in billion U.S. dollars)
* Estimate; ** Starting from the indicated year, figures are forecasts
Supplementary notes
This Statista estimate is based on the 2022 and 2028 values, and the compound annual growth rate provided by the source. An exponential development of the values was assumed.
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Research and Markets, & Statista. (January 31, 2023). Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/
Research and Markets, und Statista. "Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028 (in billion U.S. dollars)." Chart. January 31, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/
Research and Markets, Statista. (2023). Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/
Research and Markets, and Statista. "Market Value of Electric Vehicle Battery Recycling Worldwide in 2022, with Forecasts to 2028 (in Billion U.S. Dollars)." Statista, Statista Inc., 31 Jan 2023, https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/
Research and Markets & Statista, Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/ (last visited November 22, 2024)
Market value of electric vehicle battery recycling worldwide in 2022, with forecasts to 2028 (in billion U.S. dollars) [Graph], Research and Markets, & Statista, January 31, 2023. [Online]. Available: https://www.statista.com/statistics/1330757/worldwide-ev-battery-reuse-and-recycling-market-value/
