Home > Energy & Power > Battery Technology > EV Battery Reuse > North America EV Battery Reuse Market
North America EV Battery Reuse Market size surpassed USD 32.8 million in 2023 and is anticipated to grow at a CAGR of 53.3% between 2024 and 2032, driven by the increasing adoption of electric vehicles, leading to a surge in retired EV batteries available for repurposing.
As per IEA, U.S. witnessed a total sale of 1.6 million EVs in 2023, which grew from only 0.2 million units in 2016. Initiatives promoting sustainability drive companies to explore reuse options, reducing waste. Advancements in battery management technologies enhance the feasibility of repurposing batteries for secondary applications like grid energy storage. Government incentives supporting battery recycling initiatives further stimulate market growth, fostering investment and innovation in this sector.
Report Attribute | Details |
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Base Year: | 2023 |
North America EV Battery Reuse Market Size in 2023: | USD 32.8 Million |
Forecast Period: | 2024 - 2032 |
Forecast Period 2024 - 2032 CAGR: | 53.3% |
2032 Value Projection: | USD 1.52 Billion |
Historical Data for: | 2019 - 2023 |
No. of Pages: | 110 |
Tables, Charts & Figures: | 104 |
Segments covered: | Application, Source |
Growth Drivers: |
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Pitfalls & Challenges: |