The Second-life EV Batteries Market is expected to reach USD 20.25 billion, at a CAGR of 39.1% from 2023 to 2030. Efforts to mitigate the environmental impacts of battery disposal, the growing adoption of renewable energy sources, and the increasing adoption of electric vehicles (EVs) are major factors driving the growth of the second-life EV batteries market.
Here are the top 10 companies operating in the Second-life EV Batteries Market
Founded in 2018 and headquartered in Navarra, Spain, BeePlanet Factory SL is a privately held company that provides management of second-life batteries for electric vehicles. The company manufactures energy storage systems reusing lithium-ion batteries from electric vehicles. They also specialize in the management of second-life batteries for photovoltaic, wind, and off-grid installations. BeePlanet offers capacities ranging from 4kWh to +1MWh with different applications for the residential, commercial, and industrial sectors, the primary sector, and construction. The company provides various solutions, including residential-and-isolated-self-consumption, commercial-and-industrial-self-consumption, storage-for-recharging-infrastructure, microgrids-and-renewable-plants, and other applications.
BeePlanet also developed a specific BMS for second-life batteries, diagnostic tests (SoH) to predict performance, and remote maintenance and algorithms to customize energy management.
ECO STOR AS
Founded in 2018 and headquartered in Oslo, Norway, ECO STOR AS is a privately held company that designs and manufactures battery storage systems for a complete range of applications, from residential to grid-based energy storage parks. The company offers second-life battery management solutions from repurposed EV batteries for lifecycle as storage solutions.
ECO STOR tests the used EV batteries and helps to ensure their health and performance before they build them into tailored second-life energy management systems. The company offers second-life EV battery management solutions to design Industrial Energy Storage, Grid Energy Storage, and Residential Energy Storage from second-life EV batteries.
Founded in 2013 and headquartered in England, U.K., Connected Energy Ltd. is a privately held company that specializes in battery energy storage systems. The company offers battery energy storage systems using second-life electric vehicle batteries by extracting additional value from the finite resources embedded in batteries. The company develops storage capacities ranging from 10MW up to 100MW+ with the use of second-life EV batteries. M-STOR sites are to utilize second-life EV batteries, that help to optimize their value chain and the residual value of EVs.
B2U Storage Solutions, Inc.
Founded in 2019 and headquartered in California, U.S., B2U Storage Solutions, Inc. is a privately held company and a provider of large-scale energy storage systems using second-life electric vehicle (EV) batteries. The company EV Pack Storage “EPS” technology enables EV battery packs to be utilized in large scale stationary storage without modification, virtually eliminating repurposing costs.
Founded in 2021 and headquartered in Helsinki, Finland, Cactos Oy is a privately held company that provides electricity storage systems. The company provides two different energy storage models, the Classic and Cardo. The Cactos One Classic is built entirely from functioning, recycled electric vehicle batteries, which reduces the unit’s environmental impact. The Cactos One Cardo is constructed from new LiFePo battery cells, which do not contain rare earth metals.
The company caters its products through different applications, including industrial & commercial, retail & gas, agriculture, and housing developments. As of December 2022, the company had a headcount of 25 employees globally.
Meticulous Research in its latest publication on Second-life EV Batteries Market has predicted the growth of 39.1% during the forecast year 2023-2030.
Founded in 2019 and headquartered in California, U.S., Smartville Inc. is a privately held company that builds electric vehicle battery repurposing platforms and empowers stationary energy storage. The company offers Smartville 360- Energy Storage System that uses repurposed electric vehicle batteries as the core component of its energy storage system. Smartville 360 has the lowest carbon footprint of any energy storage product, making it the ideal choice for environmentally conscious businesses and organizations.
The company offers patented battery management technology that ensures scalability, reliability, and safety. Smartville 360’s building block design helps to enable a wide range of applications for commercial and industrial installations, from MWh-scale to GWh-scale grid services and renewable integrations.
Founded in 2018 and headquartered in Uttar Pradesh, India, Lohum Cleantech Private Limited is a privately held company that produces sustainable battery raw materials through recycling, repurposing, and low-carbon refining. The company offers second-life solutions and prolonging EV battery life, where end-of-life lithium-ion battery cells are reused in stationary energy storage. LOHUM’s energy storage solutions are powered by repurposed second-life Lithium ion batteries that help to maximize environmental sustainability.
The company provides various second-life solutions for used batteries, such as energy storage systems for homes, grids, businesses, and EV charging stations. The company has a strong geographical presence across India and the U.S. The company had a headcount of 500 employees globally.
DB Bahnbau Gruppe GmbH
Founded in 2010 and headquartered in Berlin, Germany, DB Bahnbau Gruppe GmbH is a privately held company. The company-owned start-up, namely, encore, helps to use batteries from electric vehicles as a second life in energy storage systems for renewable energy. The company offers second-life battery energy storage systems that save 6 tons of CO2 emissions in the production of 65-kWh battery storage in direct comparison with new battery energy storage systems. The company’s second-life battery energy storage systems can help to increase the self-consumption of electricity produced from solar PV or wind turbine assets. Encore provides second-life battery energy storage systems that are used for peak shaving, power supply, and grid stabilization.
Founded in 2018 and headquartered in California, U.S., RePurpose Energy Inc. is a privately held company that provides second-life energy storage systems that reuse EV batteries to make them reliable and cost-effective. The company maximizes the value of used batteries, strengthens the sustainability of battery supply chains, and supports the global transition to renewable energy.
Founded in 2017 and headquartered in California, U.S., ReJoule is a privately held company that provides second-life battery management solutions. It is enabling the second life & recycling ecosystem for batteries by reducing their cost. The company provides products for automakers and repurposers.
Authoritative Research on the Second-life EV Batteries Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.