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The Second-Life EV Battery Market to Reach US$7B by 2033, Reports IDTechEx
Stakeholders must make key decisions regarding the End-of-Life management of retired EV batteries. Second-life batteries created through a remanufacturing process offer benefits of maximizing battery value and extending battery life, whereas recycling results in batteries losing this value prematurely. If remanufacturing is chosen, second-life BESS developers must make further decisions to ensure that the creation of their second-life systems is techno-economically feasible. Remanufacturers must consider several process operations, such as battery procurement, depth of disassembly, testing/grading, and reassembly procedures. The new report from IDTechEx assesses how these processes impact the final pricing of second-life BESS to be competitive with new Li-ion BESS.
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Within this young yet competitive market, key players are involved in both second-life battery repurposing and retired EV battery health and performance grading. A growing number of repurposer and battery diagnostician start-ups are starting to establish robust supply chains with automotive OEMs. The lack of battery standardization is one of the key barriers in the second-life market, and so procuring a larger volume of similarly designed batteries can help simplify both data-driven battery modeling and repurposing processes.
Currently, base station backup energy in China is the dominant market for second-life EV batteries. These are replacing lead acid batteries, which have historically provided this service. However, IDTechEx has observed that the US and Europe are key regions with players making great advancements in deploying second-life BESS. These players have generally been focused on behind-the-meter installations. However, some players who have commercialized these second-life BESS will soon be looking to scale their technologies to be suitable for large grid-scale applications. These will be suitable for use in the front-of-the-meter (FTM) battery storage market. 'Large' second-life BESS deployments in China are unlikely to be seen over the next few years amid a ban from China's National Energy Administration in 2021. As repurposers in the US and Europe look to deploy more second-life BESS, the regional distribution of total second-life battery deployments could shift over the next decade.
In the latest version of their market report, "Second-life Electric Vehicle Batteries 2023-2033", IDTechEx brings the reader a holistic overview of the second-life EV battery market, including the following information:
To find out about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/SecondLife.
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.
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Lucy Rogers
Sales and Marketing Administrator
press@IDTechEx.com
+44(0)1223 812300
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