Second-life EV Batteries Market by Application (Power Backup, Grid Connection, EV Charging, Renewable Energy Storage, Other Applications), End Use (Commercial, Residential, Industrial) & Geography - Global Forecast to 2030
The research report titled, ‘Global Second-life EV Batteries Market by Application (Power Backup, Grid Connection, EV Charging, Renewable Energy Storage, Other Applications), End Use (Commercial, Residential, Industrial) & Geography—Forecasts to 2030’, provides in-depth analysis of second-life EV batteries market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The second-life EV batteries market is projected to reach $20.25 billion by 2030, at a CAGR of 39.1% from 2023 to 2030. The growth of the second-life EV batteries market is driven by efforts towards mitigating the environmental impact of battery disposal, the growing adoption of renewable energy sources, and the increasing demand for electric vehicles (EVs).
Based on application, the second-life EV batteries market is segmented into EV charging, grid connections, renewable energy storage, power backup, and other applications. In 2023, the power backup segment is expected to account for the largest share of the global second-life EV batteries market. The large market share of this segment is attributed to the growing demand for power backup applications in the residential and commercial sectors and rising efforts towards mitigating the environmental impact of battery disposal.
However, the EV charging segment is projected to register the highest CAGR during the forecast period. The rising demand for cleaner and more efficient energy systems and increasing adoption of EV charging applications in industrial, residential, and commercial sectors are expected to support the growth of this segment.
Based on end use, the global second-life EV batteries market is segmented into commercial use, residential use, and industrial use. In 2023, the commercial use segment is expected to account for the largest share of the global second-life EV batteries market. The large market share of this segment is attributed to the increasing use of second-life EV batteries for stationary applications, such as providing backup power for buildings, data centers, or telecommunications infrastructure.
However, the residential use segment is also expected to record the highest CAGR during the forecast period. The growth of this segment is driven by increasing demand for energy storage systems in the residential sector and increasing strategic developments by market players to explore second-life EV batteries for residential and commercial use for grid-scale energy storage applications.
Based on geography, the global second-life EV batteries market is segmented into five major regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global second-life EV batteries market. The large share of this market is attributed to the rising initiatives aimed at promoting the utilization of second-life batteries, addressing end-of-life EV battery concerns, and organizing the battery waste sector.
Moreover, Europe is expected to record the highest CAGR during the forecast period. The growth of this market is attributed to the rising initiatives by automakers to create second-life energy storage systems from used EV batteries.
Key Players:
Some of the key players operating in the global second-life EV batteries market are B2U Storage Solutions, Inc. (U.S.), RePurpose Energy Inc. (U.S.), BeePlanet Factory SL (U.S.), ReJoule (U.S.), Cactos Oy (Finland), ECO STOR AS (Norway), Connected Energy Ltd. (U.K.), Smartville Inc. (U.S.), Lohum Cleantech Private Limited (India), and DB Bahnbau Gruppe GmbH (Germany).
Key questions answered in the report-
Second-life EV Batteries Market Assessment—by Application
Li-ion Battery Recycling Market by Model (Contractual Services (Source, End-use Industry), Direct-to-Market), Battery Type (LCO, LFP, LMO, NCA, NMC, LTO), Process (Pyrometallurgical, Hydrometallurgical), and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/li-ion-battery-recycling-market-5481
Battery Binders Market by Type (Anode Binder, Cathode Binder), Battery Type (Lithium-ion Batteries, Ni-Cd Batteries), Material (PVDF, CMC), Application (Electric Vehicles, Consumer Electronics), Sector, and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/battery-binders-market-5543
Flow Battery Market by Type (redox flow batteries, hybrid flow batteries), Material (zinc-bromine, vanadium, hydrogen-bromine), Ownership, Application (utilities, commercial & industrial), and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/flow-battery-market-5419
Black Mass Recycling Market by Battery Source (Automotive Batteries, Industrial Batteries), Battery Type (Li-ion Battery, Nickel-metal Hydride Battery), Recycling Process (Pyrometallurgical Process, Hydrometallurgical Process) - Global Forecast to 2030
https://www.meticulousresearch.com/product/black-mass-recycling-market-5725
The second-life EV batteries market is projected to reach $20.25 billion by 2030, at a CAGR of 39.1% from 2023 to 2030. The growth of the second-life EV batteries market is driven by efforts towards mitigating the environmental impact of battery disposal, the growing adoption of renewable energy sources, and the increasing demand for electric vehicles (EVs).
Based on application, the second-life EV batteries market is segmented into EV charging, grid connections, renewable energy storage, power backup, and other applications. In 2023, the power backup segment is expected to account for the largest share of the global second-life EV batteries market. The large market share of this segment is attributed to the growing demand for power backup applications in the residential and commercial sectors and rising efforts towards mitigating the environmental impact of battery disposal.
However, the EV charging segment is projected to register the highest CAGR during the forecast period. The rising demand for cleaner and more efficient energy systems and increasing adoption of EV charging applications in industrial, residential, and commercial sectors are expected to support the growth of this segment.
Based on end use, the global second-life EV batteries market is segmented into commercial use, residential use, and industrial use. In 2023, the commercial use segment is expected to account for the largest share of the global second-life EV batteries market. The large market share of this segment is attributed to the increasing use of second-life EV batteries for stationary applications, such as providing backup power for buildings, data centers, or telecommunications infrastructure.
However, the residential use segment is also expected to record the highest CAGR during the forecast period. The growth of this segment is driven by increasing demand for energy storage systems in the residential sector and increasing strategic developments by market players to explore second-life EV batteries for residential and commercial use for grid-scale energy storage applications.
Based on geography, the global second-life EV batteries market is segmented into five major regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global second-life EV batteries market. The large share of this market is attributed to the rising initiatives aimed at promoting the utilization of second-life batteries, addressing end-of-life EV battery concerns, and organizing the battery waste sector.
Moreover, Europe is expected to record the highest CAGR during the forecast period. The growth of this market is attributed to the rising initiatives by automakers to create second-life energy storage systems from used EV batteries.
Key Players:
Some of the key players operating in the global second-life EV batteries market are B2U Storage Solutions, Inc. (U.S.), RePurpose Energy Inc. (U.S.), BeePlanet Factory SL (U.S.), ReJoule (U.S.), Cactos Oy (Finland), ECO STOR AS (Norway), Connected Energy Ltd. (U.K.), Smartville Inc. (U.S.), Lohum Cleantech Private Limited (India), and DB Bahnbau Gruppe GmbH (Germany).
Key questions answered in the report-
- Which are the high-growth market segments based on application and end use?
- What was the historical market for second-life EV batteries?
- What are the market forecasts and estimates for the period 2023–2030?
- Who are the major players, and what ranking do they hold in the second-life EV batteries market?
- How is the competitive landscape in the second-life EV batteries market?
- What are the recent developments in the second-life EV batteries market?
- What are the different strategies adopted by the major players in the second-life EV batteries market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global second-life EV batteries market, and how do they compete with the other players?
Second-life EV Batteries Market Assessment—by Application
- Power Backup
- Grid Connections
- EV Charging
- Renewable Energy Storage
- Other Applications
- Commercial Use
- Industrial Use
- Residential Use
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East & Africa
Li-ion Battery Recycling Market by Model (Contractual Services (Source, End-use Industry), Direct-to-Market), Battery Type (LCO, LFP, LMO, NCA, NMC, LTO), Process (Pyrometallurgical, Hydrometallurgical), and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/li-ion-battery-recycling-market-5481
Battery Binders Market by Type (Anode Binder, Cathode Binder), Battery Type (Lithium-ion Batteries, Ni-Cd Batteries), Material (PVDF, CMC), Application (Electric Vehicles, Consumer Electronics), Sector, and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/battery-binders-market-5543
Flow Battery Market by Type (redox flow batteries, hybrid flow batteries), Material (zinc-bromine, vanadium, hydrogen-bromine), Ownership, Application (utilities, commercial & industrial), and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/flow-battery-market-5419
Black Mass Recycling Market by Battery Source (Automotive Batteries, Industrial Batteries), Battery Type (Li-ion Battery, Nickel-metal Hydride Battery), Recycling Process (Pyrometallurgical Process, Hydrometallurgical Process) - Global Forecast to 2030
https://www.meticulousresearch.com/product/black-mass-recycling-market-5725
1. INTRODUCTION
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. RESEARCH METHODOLOGY
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-up approach
2.3.3. Top-down Approach
2.3.4. Growth Forecast
2.4. Assumptions for the Study
3. EXECUTIVE SUMMARY
3.1. Overview
3.2. Market Analysis, by End Use
3.3. Market Analysis, by Application
3.4. Market Analysis, by Geography
3.5. Competition Analysis
4. MARKET INSIGHTS
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Efforts to Mitigate the Environmental Impacts of Battery Disposal Supporting Market Growth
4.2.2. Increasing Reliance on Renewable Energy Generating Opportunities for Market Players
4.2.3. Increasing Adoption of Electric Vehicles Supporting the Development of Second-life Batteries
4.3. Battery Remanufacturing Process
4.4. Second-life EV Batteries Market - Value Chain Analysis
4.5. Battery Reuse Applications
4.6. Second-Life EV Batteries – Evaluation Parameters
4.6.1. Factors Determining Second-life Applications
4.6.2. Opportunities for Implementing Second-life Batteries
4.6.2.1. Providing Power to Those Without Access
4.6.2.2. Supply Chain Challenges for Manufacturers of New Batteries
4.6.2.3. Offsetting Lithium-ion Battery Recycling Costs
4.6.2.4. Scalable Supply of Second-life Batteries
4.7. Regulatory Landscape & Battery Traceability
4.7.1. European Union
4.7.2. China
4.7.3. U.S.
5. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT, BY APPLICATION
5.1. Overview
5.2. Power Backup
5.3. Grid Connections
5.4. EV Charging
5.5. Renewable Energy Storage
5.6. Other Applications
6. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT, BY END USE
6.1. Overview
6.2. Commercial Use
6.3. Industrial Use
6.4. Residential Use
7. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT , BY GEOGRAPHY
7.1. Overview
7.2. Asia-Pacific
7.3. North America
7.4. Europe
7.5. Latin America
7.6. Middle East & Africa
8. COMPETITION ANALYSIS
8.1. Overview
8.2. Key Growth Strategies
8.3. Growth Opportunities for Start-up Companies in the Second-life EV Batteries Market
8.4. Challenges for Start-up Companies in the Second-life EV Batteries Market
8.5. Market Landscape for Second-life EV Batteries
8.6. Start-up Ecosystem for the Second-life EV Batteries Market
8.6.1. Diversifying Applications for EV Batteries
8.6.2. Addressing Technological Challenges in Repurposing EV Batteries
8.6.3. Ensuring Safety in Second-life BESS
8.6.4. Navigating EV Batteries Supply Chain Challenges
9. COMPANY PROFILES
9.1. BeePlanet Factory SL
9.2. ECO STOR AS
9.3. Connected Energy Ltd.
9.4. B2U Storage Solutions, Inc.
9.5. Cactos Oy
9.6. Smartville Inc.
9.7. Lohum Cleantech Private Limited
9.8. DB Bahnbau Gruppe GmbH
9.9. RePurpose Energy Inc.
9.10. ReJoule
10. APPENDIX
10.1. Available Customization
10.2. Related Reports
Table 1 Currency Conversion Rate (2018–2022)
Table 2 Global Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 3 Global Second-life EV Batteries Market for Power Backup, by Region, 2021–2030 (USD Million)
Table 4 Global Second-life EV Batteries Market for Grid Connections, by Region, 2021–2030 (USD Million)
Table 5 Global Second-life EV Batteries Market for EV Charging, by Region, 2021–2030 (USD Million)
Table 6 Global Second-life EV Batteries Market for Renewable Energy Storage, by Region, 2021–2030 (USD Million)
Table 7 Global Second-life EV Batteries Market for Other Applications, by Region, 2021–2030 (USD Million)
Table 8 Global Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 9 Global Second-life EV Batteries Market for Commercial Use, by Region, 2021–2030 (USD Million)
Table 10 Global Second-life EV Batteries Market for Industrial Use, by Region, 2021–2030 (USD Million)
Table 11 Global Second-life EV Batteries Market for Residential Use, by Region, 2021–2030 (USD Million)
Table 12 Global Second-life EV Batteries Market, by Region, 2021–2030 (USD Million)
Table 13 Asia-Pacific: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 14 Asia-Pacific: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 15 North America: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 16 North America: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 17 Second-life EV battery Projects in Europe
Table 18 Europe: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 19 Europe: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 20 Latin America: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 21 Latin America: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 22 Middle East & Africa: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 23 Middle East & Africa: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. RESEARCH METHODOLOGY
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-up approach
2.3.3. Top-down Approach
2.3.4. Growth Forecast
2.4. Assumptions for the Study
3. EXECUTIVE SUMMARY
3.1. Overview
3.2. Market Analysis, by End Use
3.3. Market Analysis, by Application
3.4. Market Analysis, by Geography
3.5. Competition Analysis
4. MARKET INSIGHTS
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Efforts to Mitigate the Environmental Impacts of Battery Disposal Supporting Market Growth
4.2.2. Increasing Reliance on Renewable Energy Generating Opportunities for Market Players
4.2.3. Increasing Adoption of Electric Vehicles Supporting the Development of Second-life Batteries
4.3. Battery Remanufacturing Process
4.4. Second-life EV Batteries Market - Value Chain Analysis
4.5. Battery Reuse Applications
4.6. Second-Life EV Batteries – Evaluation Parameters
4.6.1. Factors Determining Second-life Applications
4.6.2. Opportunities for Implementing Second-life Batteries
4.6.2.1. Providing Power to Those Without Access
4.6.2.2. Supply Chain Challenges for Manufacturers of New Batteries
4.6.2.3. Offsetting Lithium-ion Battery Recycling Costs
4.6.2.4. Scalable Supply of Second-life Batteries
4.7. Regulatory Landscape & Battery Traceability
4.7.1. European Union
4.7.2. China
4.7.3. U.S.
5. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT, BY APPLICATION
5.1. Overview
5.2. Power Backup
5.3. Grid Connections
5.4. EV Charging
5.5. Renewable Energy Storage
5.6. Other Applications
6. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT, BY END USE
6.1. Overview
6.2. Commercial Use
6.3. Industrial Use
6.4. Residential Use
7. SECOND-LIFE EV BATTERIES MARKET ASSESSMENT , BY GEOGRAPHY
7.1. Overview
7.2. Asia-Pacific
7.3. North America
7.4. Europe
7.5. Latin America
7.6. Middle East & Africa
8. COMPETITION ANALYSIS
8.1. Overview
8.2. Key Growth Strategies
8.3. Growth Opportunities for Start-up Companies in the Second-life EV Batteries Market
8.4. Challenges for Start-up Companies in the Second-life EV Batteries Market
8.5. Market Landscape for Second-life EV Batteries
8.6. Start-up Ecosystem for the Second-life EV Batteries Market
8.6.1. Diversifying Applications for EV Batteries
8.6.2. Addressing Technological Challenges in Repurposing EV Batteries
8.6.3. Ensuring Safety in Second-life BESS
8.6.4. Navigating EV Batteries Supply Chain Challenges
9. COMPANY PROFILES
9.1. BeePlanet Factory SL
9.2. ECO STOR AS
9.3. Connected Energy Ltd.
9.4. B2U Storage Solutions, Inc.
9.5. Cactos Oy
9.6. Smartville Inc.
9.7. Lohum Cleantech Private Limited
9.8. DB Bahnbau Gruppe GmbH
9.9. RePurpose Energy Inc.
9.10. ReJoule
10. APPENDIX
10.1. Available Customization
10.2. Related Reports
Table 1 Currency Conversion Rate (2018–2022)
Table 2 Global Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 3 Global Second-life EV Batteries Market for Power Backup, by Region, 2021–2030 (USD Million)
Table 4 Global Second-life EV Batteries Market for Grid Connections, by Region, 2021–2030 (USD Million)
Table 5 Global Second-life EV Batteries Market for EV Charging, by Region, 2021–2030 (USD Million)
Table 6 Global Second-life EV Batteries Market for Renewable Energy Storage, by Region, 2021–2030 (USD Million)
Table 7 Global Second-life EV Batteries Market for Other Applications, by Region, 2021–2030 (USD Million)
Table 8 Global Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 9 Global Second-life EV Batteries Market for Commercial Use, by Region, 2021–2030 (USD Million)
Table 10 Global Second-life EV Batteries Market for Industrial Use, by Region, 2021–2030 (USD Million)
Table 11 Global Second-life EV Batteries Market for Residential Use, by Region, 2021–2030 (USD Million)
Table 12 Global Second-life EV Batteries Market, by Region, 2021–2030 (USD Million)
Table 13 Asia-Pacific: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 14 Asia-Pacific: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 15 North America: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 16 North America: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 17 Second-life EV battery Projects in Europe
Table 18 Europe: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 19 Europe: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 20 Latin America: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 21 Latin America: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
Table 22 Middle East & Africa: Second-life EV Batteries Market, by End Use, 2021–2030 (USD Million)
Table 23 Middle East & Africa: Second-life EV Batteries Market, by Application, 2021–2030 (USD Million)
