Increase in sales of electric vehicles and thriving portable electronics market drive the growth of the global graphene battery market.
Allied Market Research published a report, titled, “Graphene Battery Market by Battery Type (Li-ion Batteries, Li-Sulfur Batteries, Supercapacitors, and Lead-acid Batteries) and Application (Automotive, Electronics, Energy, Aerospace & Defense, Industrial Robotics, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2020–2027.”According to the report, the global graphene battery industry was estimated at $48.9 million in 2019, and is anticipated to hit $398.6 million by 2027, registering a CAGR of 31.2% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in sales of electric vehicles and thriving portable electronics market drive the growth of the global graphene battery market. On the other hand, lack of awareness of graphene technology
impedes the growth to some extent. However, surge in government investments in R&D is expected to create lucrative opportunities in the industry.
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The Li-Ion batteries segment to dominate by 2027-
Based on battery type, the Li-Ion batteries segment accounted for more than two-thirds of the global graphene battery market share in 2019, and is expected to maintain its dominance throughout the forecast period. Unique advantages offered by the Li-ion batteries such as high energy density, low maintenance, and low self-discharge propel the growth of the segment. Simultaneously, the supercapacitors segment would register the fastest CAGR of 35.2% by the end of 2027. This is attributed to the benefits offered by graphene supercapacitors such as high electrical power, low weight, and fast charge-discharge cycles.
The automotive segment to retain the dominant share-
Based on application, the automotive segment contributed to nearly half of the global graphene battery market revenue in 2019, and is anticipated to rule the roost during the study period. The same segment would also portray the fastest CAGR of 33.1% from 2020 to 2027. Wide adoption of graphene battery in automotive vehicles ensures exceptional storage capacity, excellent charging speed, and high durability which, in turn, drives the segment growth.
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Europe, followed by Asia-Pacific and North America, garnered the major share in 2019 –
Based on region, Europe, followed by Asia-Pacific and North America, generated the major share, holding nearly two-fifths of the global graphene battery market in 2019. This is due to the presence of majority of graphene manufacturing companies in this region. Asia-Pacific, on the other hand, would manifest the fastest CAGR of 34.0% during the estimated period. Rapid industrialization and development of electric vehicles & industrial robotics in this province have boosted the market growth.
Key players in the industry-
- Cambridge Nanosystems Ltd.
- Vorbeck Materials Corp.
- XG Sciences, Inc.areprovided
- G6 Materials Corp.
- Graphenano S.L.
- Cabot Corporation
- GrapheneNanoChemplc
- NanoXplore Inc.
- Real Graphene USA
- Graphenea S.A.
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