Asia Pacific EV Battery Reuse Market size will witness significant growth on account of ongoing efforts to efficiently exploit the further usage of EV batteries for various applications. Rising deployment of electric vehicles will stimulate demand for reused batteries, which will favor the industry growth. Growing emphasis towards adoption of sustainable vehicles over traditional vehicles to reduce soaring carbon emissions will augment the product demand.

Demand from EV charging stations is projected to grow on account of escalating concerns pertaining to space utilization for charging infrastructure. The EV battery reuse offer an effective charging technology which is sustainable and portable. A need for charging stations across the globe is developed due to growing number of electric vehicles. This has led the respective governments to develop a sustainable charging infrastructure for the EVs. In addition, surging requirement of EV charging setup will enhance the business growth of EV battery reuse technology.

Growing penetration of BEV will augment the second life battery across Asia Pacific region. Rising difficulty in disposal of the EV batteries act as a paramount factors responsible for the growth of BEV vehicles. Ambitious and favorable policy announcements by the policymakers have substantially increased the BEV rollout in regional vehicle industry. In addition to that, the second life batteries also find wide array of application including telecom base stations and data centers, which will create a favorable business scenario for EV battery reuse market.

Rising investments to develop the new charging infrastructure coupled with the energy security concerns has compelled Asian countries to exert more efforts toward the adoption reuse technology. Due to the growing adoption of electric vehicles, the li-ion battery industry is witnessing robust growth which in turn will propel the EV battery reuse market. Moreover, considerable progress in technology and a wide range of EV models have augmented consumer purchase decisions. According to IEA, in 2019, global sales of electric cars reached 2.1 million surpassing 2018 sales. In 2010, only 17,000 electric cars were on the roads and by the end of 2019, the number had surged up to 7.2 million, 47% of which was accounted in China.

The prominent industry players are focused on strategic partnerships and collaborations across the value chain to augment their EV battery reuse market size. In addition, the eminent industry participants profiled in the Asia Pacific EV battery reuse report includes Samsung SDI Co., Ltd., GS Yuasa Corporation, Tesla, Inc., Lithium Werks, BMW Group, Toshiba Corporation, Nissan Motor Co., Ltd. amongst other.