Second-Life Automotive Lithium-Ion Battery Market is Expecting Major Tech Revolution in Near Future

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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.



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Furthermore, the governments of several countries are increasingly enacting various initiatives and regulations for promoting the usage of electric vehicles. This is also boosting the sales of the second-life automotive lithium-ion batteries around the world. Based on type, the second-life automotive lithium-ion battery market is classified into lithium ferro phosphate (LFP), lithium-ion manganese oxide (LMO), lithium–titanate oxide (LTO), lithium–nickel–manganese–cobalt oxide (NMC), and lithium–nickel–cobalt–aluminum oxide (NCA) categories.

Hence, it can be safely said that the market would exhibit substantial growth all over the world in the forthcoming years, mainly because of the rising usage of electric vehicles and the highly expensive procedures associated with lithium-ion battery recycling.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/second-life-automotive-lithium-ion-battery-market

This study covers                             

  • ·         Historical and the present size of the second-life automotive lithium-ion battery market
  • ·         Future potential of the market through its forecast for the period 2020-2030
  • ·         Major factors driving the market and their impact during the short, medium, and long terms
  • ·         Market restraints and their impact during the short, medium, and long terms
  • ·         Recent trends and evolving opportunities for the market participants
  • ·         Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 

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