Lithium-Ion Battery Recycling Market Share

On the basis of geographical analysis, the lithium-ion battery recycling market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The Asia Pacific industry is predicted to account for largest revenue share by 2036, led by rising demand for electric vehicles in major economies of the region such as Japan, China, and India. In addition, China is currently the largest manufacturer of lithium-ion battery for electric vehicles. China manufactured more than 70% of total lithium cells in the world in 2019. Moreover, increasing R&D investment by Indian government for developing efficient hybrid vehicles is also anticipated to fuel the growth of the region. Furthermore, Europe is expected to witness significant market growth in the forecast period owing to huge number of clean energy generation targets in the region and growing willingness of companies to develop technologies to treat different types of battery chemistries.