Automotive System, Components & Accessories

Second Life Electric Vehicle Battery Market by Source (Light Commercial Electric Vehicle, Electric Cars, and Electric Buses), Application (Power Grid, Industrial Plants, Solar Power, and Other Applications) and Region - Global Industry Analysis, Size and Forecast, 2018-2027

Avalibale Format*:     |  ReportID: ASC&A374  |  Coverage: GLOBAL
Category: Automotive  |  Sub-Category: Automotive System, Components & Accessories
Published Date: March 2022   |  US$4250  |  Pages: 182

Second Life Electric Vehicle Battery Market to Reach US$ XX billion by 2031

Second Life Electric Vehicle Battery Market Introduction

Global second life electric vehicle battery market revenue is anticipated to surpass US$ XX billon by the end of 2031; major countries of Asia Pacific and Europe to create huge growth potential for key players in the second life electric vehicle battery industry during the forecast period, 2023-2031.

DataCube Research offers market analysis, trends, future outlook, market size and forecast for Second Life Electric Vehicle Battery Market in its report titled “Second Life Electric Vehicle Battery Market: Global Industry Analysis, Size and Forecast, 2019-2031”.

 

Market Scope

The second life electric vehicle battery market has been bifurcated on the basis of source, application, and region.

 

On the basis of source, the second life electric vehicle battery market has been segmented into electric cars, electric buses, and light commercial electric vehicle. The electric cars segment dominated the second life electric vehicle battery market and accounted for over half of the market share in 2021. In addition, the segment is projected to continue its dominance throughout the forecast period owing to the availability of a large number of electric car batteries reaching the end of their service life. Moreover, the electric buses contain high capacity electric vehicle batteries that can be reused in various secondary storage application after the end of their service life. This, in turn, is projected to expand the segment at the highest CAGR over the forecast period.

 

By application, the second life electric vehicle battery market is bifurcated into industrial plants, power grid, solar power, and other applications segments. The solar power was the second largest segment in terms of revenue which represented around 20% share of the overall market revenue in 2021. Increasing uptake of recycled and reused electric vehicle batteries in solar power plants to store electric energy is driving the segment growth. Further, the solar power segment is lucrative in terms of revenue opportunities which is encouraging prominent players to establish a strategic alliance with leading players and set up solar power plants equipped with second life electric vehicle batteries.

 

Market Scenario

Expanding use cases of electric vehicle batteries in various application such as power storage, and industrial plants, expected increase in the availability of second life electric vehicle batteries in near future, introduction of environment-friendly laws by governments of both developed and developing countries across the globe, and increasing demand for energy storage are some of the crucial factors boosting the second life electric vehicle battery market size and growth at a healthy rate. In contrast, lack of skilled workforce and high initial investment are some of the factors limiting the expansion of second life electric vehicle battery market size to a certain extent.

 

The second life electric vehicle battery market report offers detailed analysis and insights on the growth potential of the global second life electric vehicle battery market and covers trends, various driving factors, and restraints that can affect the market growth across geographies.

 

Regional Outlook

By region, the second life electric vehicle battery market has been segmented into four major regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2021, Asia Pacific and Europe second life electric vehicle battery market collectively represented over half of the overall second life electric vehicle battery market revenue. Further, the revenue contribution share of these two regions is anticipated to increase at a healthy rate over the forecast period. This is primarily attributed to the high penetration of electric vehicles, presence of large number of vendors offering second life electric vehicle batteries, and introduction of strict government mandates in these regions.

Second Life Electric Vehicle Battery Market Competitive Landscape

Key vendors analyzed in second life electric vehicle battery industry are Toyota, BYD, BMW, Daimler, Nissan, Connected Energy, Relectrify, Hyundai, Easton, Renault SA, GM, Johnson Controls, Honda, Ford, and Panasonic. Major companies operating in the second life electric vehicle battery market are focused towards entering into special cooperative agreements and partnerships with leading companies both from technology and automotive sectors to ensure the success of business in a long run. Moreover, prominent players emphasize on investing substantial amount on research and development activities to expand the use cases of second life electric vehicle batteries in various applications.

  1. Executive Summary
    1. Research Methodology
    2. Assumptions & Acronyms Used
  2. Market Introduction
    1. Scope
    2. Definitions
  3. Second Life Electric Vehicle Battery Market Overview
    1. Industry Outlook
    2. Electric Vehicle Battery Ecosystem
    3. Market Dynamics
      1. Market Drivers
        1. Economic Drivers
        2. Supply Side Drivers
        3. Demand Side Drivers
    4. Market Trends
    5. Industry Analysis
      1. Porter’s Five Forces Analysis
  4. Second Life Electric Vehicle Battery Market Analysis
    1. Second Life Electric Vehicle Battery Market Share in Global Electric Vehicle Battery Market, 2021
    2. Market Size and Forecast
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
  5. Second Life Electric Vehicle Battery Market by Source
    1. Comparative Market Share Analysis by Source, 2021 & 2031
    2. Market Attractiveness by Source, 2021 & 2031
    3. Electric Cars
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    4. Electric Buses
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    5. Light Commercial Electric Vehicles
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
  6. Second Life Electric Vehicle Battery Market Analysis by Application
    1. Comparative Market Share Analysis by Application, 2021 & 2031
    2. Industrial Plants
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    3. Distribution Grid
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    4. Solar Power
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    5. Other Applications
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    6. Market Attractiveness by Application, 2021 & 2031
    7. Market Trends
  7. Second Life Electric Vehicle Battery Market Analysis by Region
    1. Market Snapshot by Region
    2. Comparative Market Share Analysis by Region, 2021 & 2031
    3. Market Size and Forecast by Region, 2019-2031
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
  8. North America Second Life Electric Vehicle Battery Market Analysis
    1. Market Analysis and Forecast
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    2. Market Analysis and Forecast by Country, 2019-2031
      1. Comparative Market Share Analysis by Country, 2021 & 2031
      2. Value and Forecast, 2019-2031 (US$Million) and Y-o-Y Growth Projection, 2020-2031 (%)
        1. US
        2. Canada
    3. Market Analysis and Forecast by Source, 2019-2031
    4. Market Analysis and Forecast by Application, 2019-2031
    5. North America Second Life Electric Vehicle Battery Market Trends
  9. Europe Second Life Electric Vehicle Battery Market Analysis
    1. Market Analysis and Forecast
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    2. Market Analysis and Forecast by Country, 2019-2031
      1. Comparative Market Share Analysis by Country, 2021 & 2031
      2. Value and Forecast, 2019-2031 (US$Million) and Y-o-Y Growth Projection, 2020-2031 (%)
        1. UK
        2. Germany
        3. France
        4. Norway
        5. Rest of Europe
    3. Market Analysis and Forecast by Source, 2019-2031
    4. Market Analysis and Forecast by Application, 2019-2031
    5. Europe Second Life Electric Vehicle Battery Market Trends
  10. Asia Pacific Second Life Electric Vehicle Battery Market Analysis
    1. Market Analysis and Forecast
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    2. Market Analysis and Forecast by Country, 2019-2031
      1. Comparative Market Share Analysis by Country, 2021 & 2031
      2. Value and Forecast, 2019-2031 (US$Million) and Y-o-Y Growth Projection, 2020-2031 (%)
        1. China
        2. Japan
        3. Rest of Asia Pacific
    3. Market Analysis and Forecast by Source, 2019-2031
    4. Market Analysis and Forecast by Application, 2019-2031
    5. Asia Pacific Second Life Electric Vehicle Battery Market Trends
  11. RoW Second Life Electric Vehicle Battery Market Analysis
    1. Market Analysis and Forecast
      1. Value and Forecast, 2019-2031 (US$Million)
      2. Y-o-Y Growth Projection, 2020-2031 (%)
    2. Market Analysis and Forecast by Country, 2019-2031
      1. Comparative Market Share Analysis by Country, 2021 & 2031
      2. Value and Forecast, 2019-2031 (US$Million) and Y-o-Y Growth Projection, 2020-2031 (%)
    3. Market Analysis and Forecast by Source, 2019-2031
    4. Market Analysis and Forecast by Application, 2019-2031
    5. Middle East & Africa (MEA) Second Life Electric Vehicle Battery Market Trends
  12. Competitive Landscape
    1. Competitive Dashboard
    2. Company Profile
      1. Toyota
        1. Overview
        2. Major Strategies
        3. Niche Focus
        4. Key Development
      2. BYD
      3. BMW
      4. Daimler
      5. Nissan
      6. Connected Energy
      7. Relectrify
      8. Hyundai
      9. Easton
      10. Renault SA
      11. GM
      12. Johnson Controls
      13. Honda
      14. Ford
      15. Panasonic

 

List of Figures

Figure 01: Global Second Life Electric Vehicle Battery Market Size and Volume Forecast, 2019-2031 (US$ Million)
Figure 02: Global Second Life Electric Vehicle Battery Market Year-on-Year Growth (%), 2020-2031
Figure 03: Global Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Source (%), 2021 & 2031
Figure 04: Global Second Life Electric Vehicle Battery Market Attractiveness by Source, 2021
Figure 05: Global Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Source, 2020-2031
Figure 06: Global Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Applications (%), 2021 & 2031
Figure 07: Global Second Life Electric Vehicle Battery Market Attractiveness by Applications, 2021
Figure 08: Global Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Applications, 2020-2031
Figure 09: Global Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Region (%), 2021 & 2031
Figure 10: Global Second Life Electric Vehicle Battery Market Attractiveness by Region, 2021
Figure 11: Global Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Region, 2020-2031
Figure 12: North America Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Source (%), 2021 & 2031
Figure 13: North America Second Life Electric Vehicle Battery Market Attractiveness by Source, 2021
Figure 14: North America Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Source, 2020-2031
Figure 15: North America Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Applications (%), 2021 & 2031
Figure 16: North America Second Life Electric Vehicle Battery Market Attractiveness by Applications, 2021
Figure 17: North America Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Applications, 2020-2031
Figure 18: North America Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Country (%), 2021 & 2031
Figure 19: North America Second Life Electric Vehicle Battery Market Attractiveness by Country, 2021
Figure 20: North America Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Country, 2020-2031
Figure 21: Europe Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Source (%), 2021 & 2031
Figure 22: Europe Second Life Electric Vehicle Battery Market Attractiveness by Source, 2021
Figure 23: Europe Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Source, 2020-2031
Figure 24: Europe Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Applications (%), 2021 & 2031
Figure 25: Europe Second Life Electric Vehicle Battery Market Attractiveness by Applications, 2021
Figure 26: Europe Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Applications, 2020-2031
Figure 27: Europe Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Country (%), 2021 & 2031
Figure 28: Europe Second Life Electric Vehicle Battery Market Attractiveness by Country, 2021
Figure 29: Europe Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Country, 2020-2031
Figure 30: Asia Pacific Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Source (%), 2021 & 2031
Figure 31: Asia Pacific Second Life Electric Vehicle Battery Market Attractiveness by Source, 2021
Figure 32: Asia Pacific Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Source, 2020-2031
Figure 33: Asia Pacific Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Applications (%), 2021 & 2031
Figure 34: Asia Pacific Second Life Electric Vehicle Battery Market Attractiveness by Applications, 2021
Figure 35: Asia Pacific Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Applications, 2020-2031
Figure 36: Asia Pacific Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Country (%), 2021 & 2031
Figure 37: Asia Pacific Second Life Electric Vehicle Battery Market Attractiveness by Country, 2021
Figure 38: Asia Pacific Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Country, 2020-2031
Figure 39: RoW Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Source (%), 2021 & 2031
Figure 40: RoW Second Life Electric Vehicle Battery Market Attractiveness by Source, 2021
Figure 41: RoW Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Source, 2020-2031
Figure 42: RoW Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Applications (%), 2021 & 2031
Figure 43: RoW Second Life Electric Vehicle Battery Market Attractiveness by Applications, 2021
Figure 44: RoW Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Applications, 2020-2031
Figure 45: RoW Second Life Electric Vehicle Battery Market Value and Volume Share Analysis by Country (%), 2021 & 2031
Figure 46: RoW Second Life Electric Vehicle Battery Market Attractiveness by Country, 2021
Figure 47: RoW Second Life Electric Vehicle Battery Market Year-on-Year Growth (%) by Country, 2020-2031

 

List of Tables

Table 01: Global Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Source
Table 02: Global Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Applications
Table 03: Global Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Region
Table 04: North America Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Source
Table 05: North America Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Applications
Table 06: North America Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Country
Table 07: Europe Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Source
Table 08: Europe Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Applications
Table 09: Europe Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Country
Table 10: Asia Pacific Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Source
Table 11: Asia Pacific Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Applications
Table 12: Asia Pacific Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Country
Table 13: RoW Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Source
Table 14: RoW Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Applications
Table 15: RoW Second Life Electric Vehicle Battery Market Size & Forecast (2019-2031) (US$ Million) and Year-on-Year Growth (2020-2031) (%) by Country

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