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New Energy Vehicle Battery Recycling: A Billion Dollar Niche

Date:2017-06-14 08:06:55

By GBF Asia 2017

Ever since 2009, both the sales and production of new energy vehicles in China have maintained a strong growth momentum. According to China Association of Automobile Manufacturers, by 2015 the annual sales of new energy vehicles has reached 331,100 units and by 2016 ramped up to 507,000 units. And based on the research of BCG (The Boston Consulting Group), China stands a good chance of becoming the biggest electric car market in the world.

Power Battery Recycling Boom to Ensue in 2018
Nowadays in China, new energy vehicles usually come with a 5 years/80,000 kilometers quality assurance, and based on calculation, vehicles sold between 2009-2012 with a relatively long millage now should be faced with repair or replacement of power batteries, which means that a multi-billion dollar market niche of power battery recycling is now wide open!
 
It has been reported by ESCN (Energy Storage China) that by 2020 the market demand of Li power batteries will soar to 125Gwh, with estimated scrape Li batteries of about 500,000 tons and by 2023 estimated Li scrape batteries of 1,160,000 tons. Moreover, the Li power battery recycling and echelon use market will hit 5,000 million RMB for the first time, and by 2020 and 2023 jump up to 13,600 million RMB and 31,100 million RMB. 
 
 
Government Stepping Forward to Support Power Battery Recycling
In addition, earlier this year, the government has issued guiding opinions on the development of renewable resource industry, which puts emphasis on pilot projects of new energy vehicle battery recycling, optimization of power battery recycling standards and promotion of power battery echelon use.
 
If you also want to ride the boom of China’s power battery industry, please grasp your opportunities at the 2nd Asia (Guangzhou) Battery Sourcing Fair 2017 (GBF ASIA 2017)! For more information, pls contact Aileen Chen via saales9@grandeurhk.com
 
The 2nd Asia (Guangzhou) Battery Sourcing Fair 2017 (GBF Asia 2017)
Date: August 16th-18th, 2017
Venue: China Import and Export Fair Complex, Guangzhou, China
Website: http://www.battery-expo.com/index.php?lang=en
 

 

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