As EV batteries become unfit for mobility applications after 8–10 years, market players repurpose these batteries for other applications to extend their usefulness and prevent the generation of e-waste. For instance, second-life EV batteries are used in energy storage applications to help balance energy demand and supply, contributing to sustainable energy practices.

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Second-life EV Batteries Market by Size, Share, Forecast, & Trends Analysis

The Second-life EV Batteries Market is expected to reach $ 28.17 billion by 2031, at a CAGR of 43.9% from 2024 to 2031