Global Vehicle Recycling Market Expected to Reach USD 254.0 Billion by 2033 - IMARC Group

January 13, 2025 | Automotive Industry

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Global Vehicle Recycling Market Statistics, Outlook and Regional Analysis 2025-2033

The global vehicle recycling market size was valued at USD 93.1 Billion in 2024, and it is expected to reach USD 254.0 Billion by 2033, exhibiting a growth rate (CAGR) of 13.37% from 2025 to 2033.

Vehicle Recycling Market

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More emphasis is being placed on developing organized vehicle scrapping facilities. These facilities are intended to accommodate a wide range of vehicle types while encouraging environmentally friendly practices and increasing resource recovery through enhanced dismantling capabilities. For example, in December 2024, Tata Motors and Tata International established a car scrapping plant. Moreover, governments are promoting rules for the disposal and recycling of end-of-life vehicles, which promote sustainable practices.

These efforts aim to improve environmental conservation and resource efficiency in the automobile industry by lowering pollution, properly managing vehicle waste, and encouraging eco-friendly recycling practices. For instance, in November 2024, the government in Haryana, India, introduced the vehicle scrappage policy to manage end-of-life vehicles (ELVs). Furthermore, vehicle recycling companies use modern material recovery methods to improve sustainability and efficiency. This is consistent with worldwide attempts to decrease waste and environmental effects. Additionally, recyclers are concentrating on electric vehicle (EV) battery recycling to recover important elements, such as lithium and cobalt. For example, companies in the Asia Pacific area, such as Keiaisha Co. Ltd., are investing in EV battery recycling facilities to cater to the demand for EVs. These activities are consistent with government laws supporting sustainable practices and responding to the growing need for environmentally friendly vehicle disposal alternatives.

Global Vehicle Recycling Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, others); and the Middle East and Africa. North America has dominance in the market because of environmental legislation by regulatory bodies.

North America Vehicle Recycling Market Trends:

North America holds the largest share of the market as there is a growing popularity of advanced shredding methods. Companies, such as Schnitzer Steel, use automated technologies to increase material recovery rates. The U.S. and Canada have strict environmental rules that encourage sustainable activities. This has resulted in new recycling techniques that considerably increase the reuse of metals and components, ensure regulatory compliance, and improve overall efficiency.

Europe Vehicle Recycling Market Trends:

The European Union's End-of-Life Vehicles (ELV) Directive, which requires vehicles to be recycled at a rate of 95%, drives the market in Europe. Germany leads with firms, such as Scholz Recycling, implementing cutting-edge material separation technology. Collaboration between manufacturers and recyclers has expedited recycling operations, achieving sustainability goals and established worldwide standards for ecologically responsible vehicle disposal.

Asia Pacific Vehicle Recycling Market Trends:

The market in the Asia Pacific region focuses on electric vehicle (EV) battery recycling. Countries, including China and Japan, where firms, such as Keiaisha Co. Ltd., operate extensively in facilities for reclaiming precious elements like cobalt and lithium. The region's push for electrification and circular economy concepts propels developments in EV component recycling, responding to expanding EV adoption rates.

Latin America Vehicle Recycling Market Trends:

In Latin America, informal recycling techniques are rapidly giving way to systematic processes. Brazil dominates the automobile recycling market, with an increasing number of licensed recyclers. Partnerships between local governments and commercial firms encourage ecological compliance. The efforts are centered on preserving resources from end-of-life vehicles, offering chances for growth and environmental protection.

Middle East and Africa Vehicle Recycling Market Trends:

The industry in the Middle East and Africa is growing owing to specialized recycling centers. The UAE is leading the way, with EnviroServe collaborating with DHL to recycle EV batteries and BEEAH Group opening the region's first end-of-life EV battery factory. These programs assist environmental goals by decreasing landfill trash and promoting the circular economy, while regional facilities effectively meet expanding vehicle disposal concerns.

Top Companies Leading in the Vehicle Recycling Industry

Some of the leading vehicle recycling market companies include ASM Auto Recycling Ltd., Copart Inc., Eco-bat Technologies, INDRA, Keiaisha Co. Ltd., Hensel Recycling Group, LKQ Corporation, Schnitzer Steel Industries, Inc., Scholz Recycling GmbH, and Sims Metal Management Limited, among many others. For example, in May 2022, Schnitzer Steel Industries, Inc. owned Encore Recycling LLC's operational assets in the Atlanta metropolitan area.

Global Vehicle Recycling Market Segmentation Coverage

On the basis of the type, the market has been segmented into passenger cars recycling and commercial vehicles recycling, wherein passenger cars recycling leads the market. The passenger car recycling segment focuses on recovering valuable elements, such as steel, aluminum, and plastics, hence minimizing environmental impact and improving resource efficiency.
Based on the material, the market is categorized into iron, aluminum, steel, rubber, copper, glass, plastic, and others, amongst which steel dominates the market. Steel recycling reduces energy usage and emissions, which promotes sustainable practices. This segment makes a substantial contribution to the circular economy by addressing industrial demands for recycled resources.
On the basis of the application, the market has been divided into OEMs and aftermarket. Among these, aftermarket shows a clear dominance in the market. The aftermarket segment encourages cost-effective repairs, eliminates waste, and promotes sustainability by extending the usefulness of vehicle components for a variety of automotive applications.

Report Features	Details
Market Size in 2024	USD 93.1 Billion
Market Forecast in 2033	USD 254.0 Billion
Market Growth Rate 2025-2033	13.37%
Units	Billion USD
Segment Coverage	Type, Material, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ASM Auto Recycling Ltd., Copart Inc., Eco-bat Technologies, INDRA, Keiaisha Co. Ltd., Hensel Recycling Group, LKQ Corporation, Schnitzer Steel Industries, Inc., Scholz Recycling GmbH and Sims Metal Management Limited
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Vehicle Recycling Market Expected to Reach USD 254.0 Billion by 2033 - IMARC Group

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