Second-life EV Batteries Market Projected to Reach USD 20.25 Billion by 2030, Driven by Environmental and Renewable Energy Initiatives

The global second-life EV batteries market is expected to achieve a valuation of USD 20.25 billion by 2030, exhibiting a remarkable compound annual growth rate (CAGR) of 39.1% from 2023 to 2030. Key factors propelling this growth include heightened efforts to mitigate the environmental impacts of battery disposal, the increasing adoption of renewable energy sources, and the rising proliferation of electric vehicles (EVs).

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Leading Companies in the Second-life EV Batteries Market

Meticulous Research has identified the top 10 companies at the forefront of the second-life EV batteries market:

1. BeePlanet Factory SL

   • Founded in 2018, Navarra, Spain
     BeePlanet Factory SL specializes in managing and repurposing lithium-ion batteries from EVs into energy storage systems. Their offerings range from 4kWh to over 1MWh, catering to residential, commercial, and industrial sectors. Notable solutions include self-consumption systems, storage for recharging infrastructure, and renewable energy integration. The company has also developed proprietary battery management systems (BMS) and diagnostic tests to optimize battery performance.

2. ECO STOR AS

   • Founded in 2018, Oslo, Norway
     ECO STOR AS designs and manufactures second-life battery storage systems for applications spanning from residential to grid-based energy parks. They ensure battery health through rigorous testing before integrating them into customized energy management systems.

3. Connected Energy Ltd.

   • Founded in 2013, England, U.K.
     Connected Energy Ltd. leverages second-life EV batteries to develop battery energy storage systems with capacities ranging from 10MW to over 100MW. Their M-STOR sites enhance the value chain by optimizing the residual value of EV batteries.

4. B2U Storage Solutions, Inc.

   • Founded in 2019, California, U.S.
     B2U Storage Solutions Inc. offers large-scale energy storage systems using their proprietary EV Pack Storage (EPS) technology, which repurposes EV battery packs without modification, thereby reducing repurposing costs significantly.

5. Cactos Oy

   • Founded in 2021, Helsinki, Finland
     Cactos Oy provides energy storage systems, including the Cactos One Classic, made entirely from recycled EV batteries, and the Cactos One Cardo, constructed from new LiFePo battery cells. Their products serve various sectors, such as industrial, commercial, retail, and housing developments.

6. Smartville Inc.

   • Founded in 2019, California, U.S.
     Smartville Inc. offers the Smartville 360 Energy Storage System, which uses repurposed EV batteries. The system features patented BMS technology, ensuring scalability, reliability, and safety, and supports a wide range of applications from MWh-scale to GWh-scale grid services.

7. Lohum Cleantech Private Limited

   • Founded in 2018, Uttar Pradesh, India
     Lohum Cleantech focuses on recycling, repurposing, and refining sustainable battery materials. Their second-life solutions include energy storage systems for homes, grids, businesses, and EV charging stations, with a presence across India and the U.S.

8. DB Bahnbau Gruppe GmbH

   • Founded in 2010, Berlin, Germany
     Through its startup, Encore, DB Bahnbau Gruppe repurposes EV batteries for energy storage systems, reducing CO2 emissions and increasing the self-consumption of renewable energy.

9. RePurpose Energy Inc.

   • Founded in 2018, California, U.S.
     RePurpose Energy Inc. provides cost-effective, second-life energy storage systems, enhancing the sustainability of battery supply chains and supporting the global shift towards renewable energy.

10. ReJoule

    • Founded in 2017, California, U.S.
      ReJoule offers second-life battery management solutions to reduce costs and enhance the ecosystem for battery recycling and repurposing. Their products serve automakers and repurposers, contributing to environmental sustainability.

Read Blog: https://meticulousblog.org/top-10-companies-in-second-life-ev-batteries-market/

In-depth Market Analysis Available

For a comprehensive analysis of the second-life EV batteries market, including recent financial performance, key products, company strategies, partnerships, and acquisitions, Meticulous Research® has published an extensive report. This report provides global market size estimates, market share analysis, revenue numbers, and insights into key trends and issues shaping the market.

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