The agency predicts that the waste power battery recycling market will start to explode in 2018, with a scale of 5 billion yuan that year. At present, automobile manufacturers and power battery manufacturers are stepping up their layout in the recycling industry.
The tide of power battery scrapping is coming
In recent years, the number of new energy vehicles in the market has grown explosively. Statistics from the China Association of Automobile Manufacturers show that in 2017, the domestic production of new energy vehicles was 794,000, and the sales volume was 777,000, ranking first in the world for three consecutive years. Statistics from the Ministry of Public Security show that by the end of 2017, the number of new energy vehicles in the country had reached 1.53 million, accounting for 0.7% of the total number of vehicles. According to the national “13th Five-Year Plan” for new energy vehicles, the annual production and sales of new energy vehicles will reach 5 million by 2020.
As one of the core components of new energy vehicles, the power battery usage has increased accordingly. According to the data of China Chemical and Physical Power Industry Association, in 2017, the amount of power batteries loaded in domestic new energy vehicles reached 37.06GWh, a year-on-year increase of 21.5%.
“The service life of power batteries is generally 5-8 years. The new energy batteries put into the market in the early stage are basically at the critical point of elimination. This means that power batteries will enter a large-scale scrapping wave from this year and next year.” China Renewable Re
“The service life of power batteries is generally 5-8 years. The new energy batteries put into the market in the early stage are basically at the critical point of elimination. This means that power batteries will enter a large-scale scrapping wave from this year and next year.” China Renewable Resources Recycling Association Scrap Zhang Ying, secretary general of the Che Branch, told a reporter from China Securities Journal.
According to the forecast of the China Automotive Technology and Research Center, combined with factors such as vehicle scrapping years, power battery life and other factors, from 2018 to 2020, the country’s cumulative scrapped power batteries will reach 120,000-200,000 tons; by 2025, the annual scrap of power batteries may reach 350,000 tons.
The industry estimates that in 2018, the waste power battery recycling market will reach 5 billion yuan. From 2020 to 2023, the market size of waste power battery recycling market will further increase to 13.6 billion yuan to 31.1 billion yuan.
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