세계의 세컨드 라이프 EV 배터리 시장 예측(-2030년) : 배터리 유형별, 배터리용량별, 차량 유형별, 용도별, 최종 사용자별, 지역별 분석

According to Stratistics MRC, the Global Second-Life EV Batteries Market is accounted for $748.81 million in 2024 and is expected to reach $6456.95 million by 2030 growing at a CAGR of 43.2% during the forecast period. Second-life EV batteries are used in other applications for electric vehicle batteries that have reached the end of their useful life in vehicles. Even though these batteries might not be able to power cars to the same extent, they still have a significant capacity-typically between 70 and 80 percent of their initial efficiency. These batteries help with the storage of renewable energy, the stabilization of power systems, and the provision of backup power. They are typically utilized in energy storage systems for homes or businesses. Moreover, second-life applications help with sustainability initiatives by extending the life of electric vehicle batteries and minimizing waste and the environmental impact of battery production and disposal.

According to the International Energy Agency (IEA), global battery recycling capacity reached 300 gigawatt-hours in 2023. If all announced projects materialize, global battery recycling capacity could exceed 1,500 gigawatt-hours in 2030, of which 70% would be in China.

Market Dynamics:

Driver:

Growing need for energy storage products

The need to integrate renewable energy sources and stabilize power grids is driving an increasing demand for energy storage solutions. Due to their intermittent nature, solar and wind energy are becoming more and more common. To ensure reliability, efficient storage solutions are therefore required. Reusing used electric vehicle batteries for grid storage can help maintain supply and demand equilibrium by storing excess energy produced during peak production periods and releasing it during times of high demand. Additionally, these batteries can also be utilized in residential energy storage systems, which increase energy independence by enabling homeowners to store solar energy for use during peak hours or blackouts.

Restraint:

Deterioration and variability in performance

The capacity and degradation rates of second-life EV batteries can vary significantly due to their prior use, which affects how well they perform. When repurposed for new applications, batteries that have been exposed to varying temperatures, charging cycles, and usage patterns might not function consistently. Because of this inconsistency, the design of energy storage systems (ESS) that use these batteries is made more difficult because complex algorithms are needed to manage and maximize performance under a variety of battery conditions.

Opportunity:

Strategic alliances and working groups

A lot of businesses are collaborating strategically to investigate the possibilities of used electric vehicle batteries. Manufacturers of automobiles, energy providers, and tech companies are working together to create integrated solutions that make efficient use of repurposed batteries. For instance, Honda Europe and waste management firms have partnered to evaluate the viability of EV batteries for energy storage applications. Furthermore, these partnerships not only improve R&D activities but also make it easier for industry participants to share knowledge and pool resources.

Threat:

Lack of standardization

The design, chemistry, and performance characteristics of electric vehicle batteries can differ substantially based on the manufacturer, model, and type of battery. The absence of standardization makes it difficult to design standardized systems that can effectively use various battery types, which makes repurposing batteries challenging. Without consistency, businesses that reuse used batteries could have trouble developing scalable solutions that guarantee dependability and performance across a range of battery types. Moreover, costs may rise as a result of this lack of standardization because various battery types might need distinct refurbishment procedures.

Covid-19 Impact:

Due to supply chain disruptions and a decline in demand for new cars, the COVID-19 pandemic has had a substantial effect on the market for second-life electric vehicle (EV) batteries. This has also affected the availability of used batteries for reuse. The early phases of the pandemic saw a 39% decline in monthly EV sales in important markets like China, especially in the first quarter of 2020. This resulted in a decrease in the production of new EV batteries. As a result of this decline, fewer used batteries for second-life applications were introduced to the market. Furthermore, the pandemic slowed down production and delivery procedures by causing delays and disruptions throughout the whole EV battery supply chain.

The Lithium-ion segment is expected to be the largest during the forecast period

The market for used electric vehicle batteries is dominated by the lithium-ion battery segment. Their dominance stems mainly from their extensive use in electric vehicles, where their high energy density, extended lifespan, and efficiency have made them the standard battery technology. Lithium-ion batteries are usually good for secondary applications like home and commercial energy storage systems since they retain roughly 60% of their capacity after 9 to 12 years of initial use in EVs. Moreover, reusing these batteries not only increases their lifespan but also offers an affordable alternative to new battery options for energy storage.

The <100 kWh segment is expected to have the highest CAGR during the forecast period

In the market for second-life EV batteries, the <100 kWh segment is projected to grow at the highest CAGR. This expansion is explained by the rising need in small-scale commercial and residential applications for energy storage solutions that are both efficient and compact. With home energy storage systems, batteries in this capacity range are especially well-suited because they can store energy from renewable sources, such as solar panels, for later use. This increases energy independence and lowers utility costs. Additionally, propelling growth in this market will be the increased availability of retired batteries for second-life applications as more electric vehicles with lower battery capacities hit the market.

Region with largest share:

The market for used electric vehicle (EV) batteries is dominated by the Asia Pacific region. This dominance is mostly due to the electric vehicle industry's explosive rise in nations like China, Japan, and India, where there are large investments in battery manufacturing and a high penetration rate for EVs. China's ambitious EV adoption targets, which call for 50% of new car sales to be electric by 2025, will increase demand for used batteries as more cars approach the end of their useful lives. Furthermore, the region's focus on renewable energy sources and sustainability has made it easier to recycle old batteries into energy storage devices.

Region with highest CAGR:

The market for used electric vehicle (EV) batteries is expected to grow at the highest CAGR during the forecast period in the Europe region. A number of factors, including aggressive government and automaker initiatives to develop sustainable energy storage systems from used electric vehicle batteries, are driving this growth. Second-life battery recycling is in line with European nations' growing emphasis on cutting carbon emissions and advancing renewable energy sources. Moreover, second-life battery solutions are even more appealing because of the region's dedication to circular economy principles, which promote material reuse.

Key players in the market

Some of the key players in Second-Life EV Batteries market include Enel X S.r.l., Fortum, BMW, Mitsubishi Motors Corporation, Hyundai Motor Company, Beijing Electric Vehicle, Nissan Motors Corporation, Renault Group, BELECTRIC, Mercedes-Benz Group AG, RWE, BeePlanet Factory SL, Rivian Automotive, Inc., Proterra, Inc. and Morris Garages (MG).

Key Developments:

In September 2024, Hyundai Motor Company and General Motors have signed an agreement to explore future collaboration across key strategic areas. GM and Hyundai will look for ways to leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster.

In April 2024, Mitsubishi Motors Corporation have agreed to conclude a joint venture agreement with Security Bank Corporation, a financial institution in the Philippines, to establish Mitsubishi Motors Finance Philippines Inc. that offers financing services to Mitsubishi Motors' customers in the country.

In March 2024, Nissan Motor Co. and Honda Motor Co. have signed an agreement to cooperate in the development of electric vehicles (EV) in a bid to match other Japanese automakers that have formed similar partnerships. Nissan President Makoto Uchida and Honda President Toshihiro Mibe held a joint news conference on March 15 to announce the signing of the agreement.

Battery Types Covered:

• Lithium-ion
• Lead Acid
• Sodium-ion
• Nickel
• Other Battery Types

Battery Capacities Covered:

• <100 kWh
• 100-200 kWh
• 200-300 kWh
• >300 kWh

Vehicle Types Covered:

• Passenger Cars
• Commercial Vehicles

Applications Covered:

• Power Backup
• Grid Charging
• EV Charging
• Residential Energy Storage
• Other Applications

End Users Covered:

• Commercial
• Residential
• Industrial
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Second-Life EV Batteries Market, By Battery Type

• 5.1 Introduction
• 5.2 Lithium-ion
• 5.3 Lead Acid
• 5.4 Sodium-ion
• 5.5 Nickel
• 5.6 Other Battery Types

6 Global Second-Life EV Batteries Market, By Battery Capacity

• 6.1 Introduction
• 6.2 <100 kWh
• 6.3 100-200 kWh
• 6.4 200-300 kWh
• 6.5 >300 kWh

7 Global Second-Life EV Batteries Market, By Vehicle Type

• 7.1 Introduction
• 7.2 Passenger Cars
• 7.3 Commercial Vehicles

8 Global Second-Life EV Batteries Market, By Application

• 8.1 Introduction
• 8.2 Power Backup
  • 8.2.1 Telecom
  • 8.2.2 Gas Turbine Power Plant
  • 8.2.3 UPS
• 8.3 Grid Charging
• 8.4 EV Charging
• 8.5 Residential Energy Storage
• 8.6 Other Applications

9 Global Second-Life EV Batteries Market, By End User

• 9.1 Introduction
• 9.2 Commercial
• 9.3 Residential
• 9.4 Industrial
• 9.5 Other End Users

10 Global Second-Life EV Batteries Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Enel X S.r.l.
• 12.2 Fortum
• 12.3 BMW
• 12.4 Mitsubishi Motors Corporation
• 12.5 Hyundai Motor Company
• 12.6 Beijing Electric Vehicle
• 12.7 Nissan Motors Corporation
• 12.8 Renault Group
• 12.9 BELECTRIC
• 12.10 Mercedes-Benz Group AG
• 12.11 RWE
• 12.12 BeePlanet Factory SL
• 12.13 Rivian Automotive, Inc.
• 12.14 Proterra, Inc.
• 12.15 Morris Garages (MG)