EV and energy storage battery recycling market forecast

At the same time, the technological path of lithium iron phosphate batteries in the field of electrochemical energy storage has become the mainstream solution for new installed capacity in recent years and its market share is rising rapidly. As EV and energy storage batteries are retired on a large-scale in the future, TrendForce estimates that the global market for EV and energy storage battery recycling will exceed 1TWh by 2030, of which the scope of lithium iron phosphate battery recycling will account for more than a 58% share.A plethora of competitors, but actual scale of retired power battery recycling is limitedHowever, several major problems remain to be solved in the battery recycling industry at this stage. First, it is still early in the development of the lithium-ion battery recycling industry and approximately 70% of used batteries come from defective products and waste…

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