Asia Pacific EV Battery Reuse Market Size | Industry Analysis by Trends, Share, Growth and Forecast By 2026

The Asia Pacific EV battery reuse market size is projected to experience healthy growth over the forthcoming period due to the rising demand for stationary energy storage solutions to ensure reliable and adequate power supply. Increasing deployment of electric vehicles, especially across countries like China, Japan, Australia, South Korea, and India would also surge the demand for second life batteries, fostering the overall business outlook.

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Subsequently, as electric vehicle numbers increase across the region, need for effective EV charging stations is rising at an unprecedented rate. This has further encouraged regional governments to setup sustainable charging infrastructure for the electric vehicles. Increasing investment towards the charging infrastructure of EVs will positively complement the adoption of reuse batteries across APAC.

In addition, the deployment of reuse batteries is expected to surge across base station applications due to escalating investments towards the global telecom sector. Stationary energy storage systems are needed for base stations to provide reliable power supply for proper functioning. This can be delivered by used or second life EV batteries. Additionally, these second life batteries can also be used as stand by power systems, mainly for base stations where the power supply is likely to be disrupted during harsh weather conditions.

With respect to source, the BEV source segment will witness robust growth over the coming years owing to increasing product penetration across the region. The immense level of difficulty in disposal of the EV batteries acts as a major factor responsible for the BEV vehicles growth. Rollout of numerous favorable policies by policymakers has increased the rollout of BEV vehicles in the regional vehicle industry, fueling segment growth. Apart from this, reuse batteries also find a wide applications scope across data centers and telecom base stations, adding up to the growth of EV battery reuse in the Asia Pacific.

Rising energy security concerns and surging investments towards the development of novel charging infrastructure has pushed Asian countries to put more efforts towards the adoption of second life or reuse technology. Due to the increasing adoption of EVs, li-ion battery industry has been experiencing strong growth, which is boosting the overall market for EV battery reuse.

Significant technological advancements and increasing diversity of EV vehicle models have shifted consumer inclination and purchase decisions towards electric vehicles. As per IEA, back in 2019, sales of electric cars reached nearly 2.1 million globally, exceeding the sales numbers recorded in 2018. Back in 2010, just 17,000 electric cars were on roads across the world, but by the end of 2019, that number increased up to 7.2 million, out of which 47 per cent were in China.

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 market. 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 2   Market Snapshot

2.1    Asia Pacific EV battery reuse market snapshot

Chapter 3   Asia Pacific EV Battery Reuse Market Trends

3.1    Industry coverage

3.2    Industry size & forecast, 2015 – 2026

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    Innovation Landscape

3.5    COVID-19 impact on the industry outlook

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis - Porter's

3.9    Product growth mapping

3.10    Competitive benchmarking, 2019

3.10.1    Strategy dashboard

3.11    PESTLE analysis

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