EV Battery Reuse Market PPT

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EV Battery Reuse Market is expected to be USD
11.4 Billion by 2032
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Industry Overview

• EV Battery Reuse Market is poised to gain
  traction between 2023 and 2032, primarily owing
  to the increasing usage of energy storage systems
  across the globe. With increasing energy demand,
  coupled with the constant efforts to lessen the
  load on the grid network, the penetration of
  efficient energy storage units is bound to
  increase, which will drive the market demand
  during the next decade.
• Furthermore, constant development of the
  commercial and residential sectors and the rising
  cases of power outages has also increased the
  demand for continuous power supply, driving the
  EV battery reuse market dynamics during the
  foreseeable future.
• Overall, the EV battery reuse market has been
  segmented in terms of application, source, and
  region.
• On the basis of application, the energy storage
  segment was valued at more than USD 70 million in
  2022. This segmental expansion will mainly result
  from the increasing demand for uninterrupted
  power supply from the residential and commercial
  sectors. Since these units can be used as backup
  storage devices, apart from offering a continuous
  power supply, especially during power outages,
  they are being increasingly adopted across
  various industry verticals. Besides, major global
  firms are also engaging in partnerships with
  governments and universities to introduce energy
  storage demonstration projects, which include
  refurbished batteries.

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Continue

• In the context of the source, the EV battery
  reuse market is likely to be characterized by the
  HEV PHEV segment, which is anticipated to
  register robust growth by 2032. Positive product
  attributes such as zero-emission,
  fuel-efficiency, easy-to-drive, and tax
  efficiency, is expected to fuel the demand for
  HEV and PHEV batteries, thus fostering the market
  demand during the next ten years.
• In the regional context, the North American
  region recorded more than 200 MWh reused EV
  battery installations in 2022. The regional
  market growth can be attributed to the increasing
  adoption of electric vehicles in the continent.
  Besides, various central governments are offering
  tax credits and favorable incentives, aimed at
  promoting the use of EVs, which will further
  augment the usage of reusable batteries during
  the next decade. For instance, in September 2022,
  the president of the USA, Joe Biden signed a law
  incentive, including the allotment of USD 7.5
  billion to build an EV charging network. Besides,
  this law will also encourage companies to build
  EVs and consumers to use them.

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EV Battery Reuse Market

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