Europe Lithium-Ion Battery Recycling Market To Be Dominated By Automotive Segment Through 2028
Rising demand from the Automotive Sector (E-Vehicles) is driving the Europe Lithium-Ion Battery Recycling Market in the forecast period, 2024-2028.
According to TechSci Research
report, “Europe Lithium-ion Battery
Recycling Market – By Region, Forecast and Opportunities, 2018-2028”, Europe Lithium-ion
Battery Recycling Market is anticipated to observe impressive growth during the
forecast period, 2024-2028. The main decarbonization
lever for road transportation is electrification. Nearly 75% of all transport
related GHG (greenhouse gas) emissions and 11% of worldwide GHG emissions come
from the road. In contrast, depending on the power mix, electric vehicles currently
produce 30–60% fewer emissions than combustion engines. Without intervention,
the rising demand for transportation powered by fossil fuels would raise global
road transport emissions. However, by preventing the blending of harmful gases,
electrification helps to lower CO2 emissions and improve air quality. The
international community has decided that GHG emissions must be drastically and
quickly decreased to combat climate change and establish a fossil fuel-free
economy.
Moreover, due to their high energy per unit mass in comparison to
other electrical energy storage methods, lithium-ion batteries are currently
employed in most electric cars. They have excellent high-temperature
performance, a high power-to-weight ratio, great energy efficiency, and minimal
self-discharge. However, Lithium-ion
batteries have a lot of drawbacks, especially in terms of safety. High voltages
can harm lithium-ion batteries because of their propensity to overheat. This
occasionally results in thermal runaway and combustion. These batteries need
safety systems to regulate internal pressure and voltage, which can sometimes
add weight and reduce efficiency.
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Europe Lithium-ion
Battery Recycling market is segmented into Chemistry and End-Use Industry.
Based on Chemistry,
the market is divided into Lithium-nickel Manganese Cobalt, Lithium-iron
Phosphate, Lithium-manganese Oxide Spinal, Lithium-titanate Oxide,
Lithium-nickel Cobalt Aluminium Oxide, and Lithium-cobalt Oxide.
Based on End-User
Industry, the market is divided into Automotive, Marine, Industrial, Power, and
Others. The Automotive Segment is dominating the market on account of its
widespread usage and application. Lithium-based batteries, which offer high
energy, high power, and an extended lifespan compared to other presently
offered battery systems, are anticipated to be the dominant battery technology
for EVs. When describing the need for local lithium-ion battery manufacture,
EVs are the main market focus and key driver of the need for lithium-ion
batteries.
Major
companies operating in Europe Lithium-ion Battery Recycling market are:
- Umicore SA
- Euro Dieuze
Industrie (Veolia)
- S.N.A.M. (Société
Nouvelle d'Affinage des Métaux)
- Accurec Recycling
GmbH
- Duesenfeld GmBH
- Redux GmbH
- Royal Bees
Recycling Sp. z o.o.
- SungEel HiTech
Hungary kft
- Volkswagenwerk
GmbH
- AkkuSer Oy
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“The community in the world has decided to address climate
change and create a society free of fossil fuels, GHG emissions must be
dramatically and swiftly reduced. As a result, Li-ion batteries are viewed as
viable clean technology to take the place of current fossil-fuel-driven
equipment. Li-ion batteries now have the highest energy densities of any
battery technology when compared to other high-quality rechargeable battery
technologies. Hence, demand from Automotive sector is propelling the
Lithium-ion Battery Recycling Market.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Europe
Lithium-ion Battery Recycling Market, Segmented By
Chemistry (Lithium-nickel Manganese Cobalt, Lithium-iron Phosphate,
Lithium-manganese Oxide Spinal, Lithium-titanate Oxide, Lithium-nickel Cobalt
Aluminium Oxide and Lithium-cobalt Oxide), By End-user Industry (Automotive,
Marine, Industrial, Power and Others), By Region, Competition Forecast &
Opportunities, 2028”,
has evaluated the future growth potential of Europe Lithium-ion Battery
Recycling 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 Europe Lithium-ion Battery
Recycling market.
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