2nd-life EV battery market to reach $28.17B by 2031, driven by renewable energy growth and rising EV demand.

The second-life electric vehicle (EV) battery market is expected to reach $28.17 billion by 2031, fueled by renewable energy growth and rising EV demand. Repurposing old batteries helps conserve resources and reduce pollution. Regulations like India's Battery Waste Management Rules promote sustainability. Asia-Pacific will lead the market, with power backup and commercial uses dominating. Addressing the environmental impact of battery production is also crucial for a sustainable energy transition.

September 05, 2024
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