Second-life Battery Market

The report "Second-life Battery Market by Battery Type (Lithium-ion Battery, Lead Acid Battery), Application (Stationary (Power & Energy Storage), Motive), and Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2030", size is projected to grow from USD 1,200 million in 2024 to USD 4,700 million by 2030, at a CAGR of 25.5% during the forecast period. A major factor contributing to the growth of the market is the rising adoption of EVs, which generates a steady supply of used batteries, while their cost-effectiveness compared to new batteries makes them attractive to various industries. Environmental benefits, such as reduced e-waste and reliance on raw material extraction, align with sustainability goals. Increased renewable energy integration, government incentives, and diagnostics and refurbishment technology advancements further boost market growth.

Browse 100 market data Tables and 30 Figures and in-depth TOC on "Second-life Battery Market by Battery Type (Lithium-ion Battery, Lead Acid Battery), Application (Stationary (Power & Energy Storage), Motive), and Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2030"
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The stationery segment is expected to account for the largest share of the second-life battery market, by application, during the forecast period, in terms of value.

By application, the stationery segment is estimated to have the largest market share by value. Stationary applications have become an increasingly adopted segment of the second-life battery market due to their natural inclination. The re-purposed batteries are capable enough of handling applications both efficiently and sustainably. The growing installation of renewable energy sources by wind and solar is increasing the demand for installed systems capable of handling excess energy and stabilizing power grids. Cost-effective solutions should also be supported by government policies that would eventually make them economically attractive for domestic, and commercial energy storage schemes.

By battery type, the lead acid battery segment is expected to account for the largest market share during the forecast period in terms of value.

Based on battery type, the lead acid battery segment is estimated to account for the largest share of the market during the forecast period. Lead-acid batteries represent an important and growing segment in the second-life battery market, due in part to their overall availability and established recycling infrastructure. Therefore, stationary energy storage applications are repurposed with these batteries because they are durable and reliable for backup power systems, among other low-demand applications. This will be complemented by their lower refurbishment costs and comparatively simpler conversion processes than other types of batteries. Enhanced with this, lead-acid battery technologies continue to evolve, resulting in performance improvements as well as extended second-life use.

Asia Pacific is projected to register the largest market share during the forecast period.

Asia Pacific is estimated to lead the market during the forecast period. Significant advancements and growth of second-life battery technology can be seen in the Asia Pacific region because of the emergence of automotive & other sectors and an extensive manufacturing ecosystem in the area. Institutions such as India, China, Japan, and other countries have become significant contributors by adding lucrative investment numbers into battery recycling and repurposing infrastructures. Government initiatives promoting renewable energy integration and sustainability, coupled with the growing demand for cost-effective energy storage solutions in residential and commercial sectors, further boost the market demand in this region.

Key players

Key players in this market include Enel X S.r.l. (Italy), Nissan Motor Co., Ltd. (Japan), Fortum (Finland), LOHUM (India), Volvo Energy (Sweden), Renault Group (France), Mercedes-Benz Group AG (Germany), RWE (Germany), BMW Group (Germany), SAMSUNG SDI (South Korea), AESC Group Ltd. (Japan), CATL (China), Sonnen (Germany), Murata Manufacturing Co., Ltd. (Japan), LG Energy Solutions (South Korea), Northvolt AB (Sweden), Tesla (US), and among others.

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