Asia Pacific EV Battery Reuse Market Size 2020: Driving Factors, Market Analysis, Investment Feasibility & Trends 2026
Category: #energy-and-environment  By Ronak Bora  Date: 2021-04-19
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Asia Pacific EV Battery Reuse Market Size 2020: Driving Factors, Market Analysis, Investment Feasibility & Trends 2026

The Asia Pacific EV battery reuse market size is projected to witness an exponential growth over the forthcoming period, thanks to the widespread popularity of fully electric cars offered by Nissan, Tesla, Chevy, Ford, and BMW. Even after being utilized in an electric vehicle, lithium batteries can potentially retain nearly two thirds of their energy storage depending on their condition.

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They can therefore deliver over 5 to 8 years of additional service across secondary applications. Leading carmakers have recognized this potential and have therefore been offering refurbished or rebuilt battery packs as replacements for used ones.

With the ambitious target of the Indian government to render 100% of the automobiles all-electric across the nation by 2030, the Asia Pacific EV battery reuse industry size is set to ascend consistently between 2020 and 2026. Through the upcoming period, the Indian government also seeks to launch more than 10,000 electric buses alongside 50,000 electric autorickshaws.

The government of India has also been promoting the reuse of EV batteries via its policy for recycling of lithium-ion batteries, boosting the progress of the Asia Pacific EV battery reuse market outlook. Several startups have also been embracing the transition to eco-friendly charging alternatives. For instance, Ziptrax Cleantech, a Delhi-based startup has been leveraging Artificial Intelligence (AI) in order to repurpose discarded batteries.

Hence, with the shift toward more sustainable power sources, the deployment of EV batteries across a minimally explored market can enhance the growth opportunities for Asia Pacific EV battery reuse industry dynamics in the next few years.

On the regional front, the EV battery reuse market in India is projected to witness robust growth over the coming years due to the increasing purchasing power of customers and their increasing inclination towards EV adoption. Rising demand for energy in India is also fueling the need for rapid EV charging infrastructure as well as stationary energy storage systems. Meanwhile, favorable government policies regarding EV adoption and rapidly increasing development of the country’s charging infrastructure will also compliment regional business outlook.

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Nissan Motor Co., Ltd., Tesla, Inc., Toyota Motor Corporation, Samsung SDI Co., Ltd., BMW Group, Toshiba Corporation, GS Yuasa Corporation, General Motors, and Lithium Werks among others are some of the prominent industry participants operating in the APAC EV battery reuse industry. These market players are further actively engaged towards strategic collaborations and partnerships to gain a competitive edge over other market players.

Table of Contents (ToC) of the report:

Chapter 4   Asia Pacific EV Battery Reuse Market Share, By Application (MWh, USD)

4.1    Asia Pacific EV battery reuse market share by application, 2019 & 2026

4.2    Energy storage

4.2.1    Market estimates and forecast, 2015 – 2026

4.2.2    Market estimates and forecast, by country, 2015 – 2026

4.3    EV charging

4.3.1    Market estimates and forecast, 2015 – 2026

4.3.2    Market estimates and forecast, by country, 2015 – 2026

4.4    Base stations

4.4.1    Market estimates and forecast, 2015 – 2026

4.4.2    Market estimates and forecast, by country, 2015 – 2026

4.5    Low speed vehicles

4.5.1    Market estimates and forecast, 2015 – 2026

4.5.2    Market estimates and forecast, by country, 2015 – 2026

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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