Second-Life Automotive Lithium-Ion Battery Market Growth and Demand
The global second-life automotive lithium-ion battery market attained a valuation of $430.0 million in 2019 and is predicted to exhibit a CAGR of 23.1% between 2020 and 2030. As per the forecast of P&S Intelligence, a market research company based in India, the market would generate a revenue of $7,392.0 million by 2030. The rising usage of electric vehicles (EVs) around the world and the highly costly battery recycling process are the main factors driving the advancement of the market.