Lithium-Ion Battery Recycling A $1000 Million Opportunity In India

- Advertisement -
  • As per the analysis, the lithium-ion battery market in India is expected to increase at a CAGR of 35.5% from 2.9 GWh in 2018 to about 132 GWh by 2030
  • The recycling market will start picking up in India from the year 2022 onwards when lithium-ion batteries which are presently in use would reach their end of life
Representational Image

According to JMK Research, the lithium-ion battery market is expected to grow exponentially in the next five years in India. Also, its recycling offers a $1000 million opportunity by 2030. As per the analysis, the recycling market will start picking up in India from the year 2022 onwards.

 

 

- Advertisement -

 

Lithium-ion battery waste through recycling is an inevitable need

As per the analysis, the lithium-ion battery market in India is expected to increase at a CAGR of 35.5% from 2.9 GWh in 2018 to about 132 GWh by 2030. The increasing volume of lithium-ion batteries would, in turn, lead to an increasing volume of ‘spent’ batteries in our ecosystem which if left untreated would lead to health and environmental hazards.

Also, the precious metals comprising of these batteries would be lost forever. Therefore, managing this lithium-ion battery waste through recycling is an inevitable need.

As per JMK research estimates, the recycling market will start picking up in India from the year 2022 onwards when lithium-ion batteries which are presently in use would reach their end of life.

The analysis further pointed out that India does not have any specific regulations or guidelines around the effective disposal and recycling of lithium-ion batteries. Even India’s e-waste guidelines have no mention of lithium-ion batteries.

Clear guidelines have to be laid out for collection, storage, transportation and recycle of waste batteries. Detailed instructions for both consumers and battery suppliers also have to be laid out and implemented.

The automotive segment is anticipated to be the fastest-growing segment in the coming years. The fast-paced development of the electric vehicles sector is the key reason behind the growing usage of lithium-ion batteries in the automotive industry.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

EV Sales In India Fall Face First From March to April 2024

0
Electric Vehicle sales, across segments, have fallen short of the promise the sector was witnessing over the last few months. Despite the extension of FAME scheme for...

Low-Speed Scooters, E Rickshaws Major ‘Headache’ For EV Task Force?

0
Going ahead, the situation for low-speed electric two-wheeler and electric rickshaw retailers and makers looks a little cloudy. The bigger ones may want to join these segments...

Growth Opportunities Connected With The Growing Semicon EcoSystem In India

0
India must concentrate on electronics products and semiconductor components, as progress in one area reinforces the other. The country can unlock immense economic opportunities...

Buzz

Greaves Electric Mobility Launches Ampere Nexus E-Scooter At Rs 109,900

0
The electric scooter, equipped with cutting-edge features and an LFP battery capable of covering 136km on a single charge, is aimed at attracting younger...

Workspace Enhancing Developer Productivity For Businesses

0
GitHub's latest, Copilot Workspace, revolutionizes development by enabling natural language interaction, potentially boosting productivity for tech businesses like Honeywell.  GitHub's latest innovation, the GitHub Copilot...

Hyundai To Launch Hybrid Vehicles In India By 2027

0
Executive Chair Euisun Chung informed staff that hybrid vehicles will play a crucial role in the company's future strategy. Hyundai Motor India, the country's second-largest...

Important Sectors

EV Sales In India Fall Face First From March to April 2024

0
Electric Vehicle sales, across segments, have fallen short of the promise the sector was witnessing over the last few months. Despite the extension of FAME scheme for...

Greaves Electric Mobility Launches Ampere Nexus E-Scooter At Rs 109,900

0
The electric scooter, equipped with cutting-edge features and an LFP battery capable of covering 136km on a single charge, is aimed at attracting younger...

Hyundai To Launch Hybrid Vehicles In India By 2027

0
Executive Chair Euisun Chung informed staff that hybrid vehicles will play a crucial role in the company's future strategy. Hyundai Motor India, the country's second-largest...

Tesla Abandons Advanced ‘Gigacasting’ Manufacturing Process

0
Tesla, facing declining sales and rising competition, has dropped its one-piece gigacasting manufacturing approach. Originally intended to transform manufacturing and lower costs, Tesla has...

Ola Electric Maintains Over 52% E2W Market Share In April 2024

0
In April, Ola reported that every second E2W registered in India was their S1 model. Ola Electric announced on Wednesday that it has secured over...

Manufacturing

Tesla Abandons Advanced ‘Gigacasting’ Manufacturing Process

0
Tesla, facing declining sales and rising competition, has dropped its one-piece gigacasting manufacturing approach. Originally intended to transform manufacturing and lower costs, Tesla has...

Honda Invests $11 Billion In Canadian EV Value Chain

0
As part of its strategy to establish eco-friendly EV and battery facilities in Ontario, Honda's EV value chain will cover every stage of EV...

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...
Sona Comstar

Sona Comstar Launches Mexico Plant For North American EV Demand

0
The new facility, established to address the increasing demand for premium driveline solutions for BEVs in North America, will focus on manufacturing differential assemblies...

Sterling Tools Inks MoU With Yongin For EV Components Facility

0
Sterling Tools announced that this strategic partnership is anticipated to bring in Rs 250 crore in business over the next five years. This collaboration...