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Global Graphene Battery Market was Valued at US$ 59.68 Mn in 2019 and it is Expected to Reach More than US$ 378.9 Mn by 2028, Likely to Grow with the CAGR of 22.8% During the Forecast Period.
Graphene is a sheet of carbon atoms tied up together in a honeycomb pattern which is extensively used, as it is a good conductor of electrical and thermal energy. Graphene batteries are emerging as a prominent substitute for traditional batteries. The cathode used in Graphene batteries is made of Graphene and hybrid material, which contains solid-state metallic over the cathode used in traditional batteries is composed of solid-state material. This makes Graphene batteries lightweight, durable, and ideal for applications that require shorter charging time with high-energy storage.
Rising Demand for Graphene Battery in various End user industries anticipated to drive the Market over the forecast period
Increasing demand from consumer electronics and automotive industries due to the advantages of the Graphene that is used as a battery material in the Graphene battery is driven market growth. Furthermore, the growth of aerospace, defense, energy, electronics and healthcare sectors across the globe is anticipated to boost the global Graphene battery market. Graphene is chemically inert, lightweight, flexible, and eco-friendly. These properties are expected to enhance its adoption in various industries which will help the global Graphene battery market growth during the forecast period.
An increase in environmental awareness is also likely to drive the global Graphene battery market during the forecast period. There has been a rise in demand for battery-operated vehicles in the past few years and this trend is expected to continue during the forecast period.
However, the high cost of Graphene electrode material is a major restraining factor for the growth of the global Graphene battery market.
The Automotive Segment Is Expected To Dominate The Graphene Battery Market During The Forecast Period
Based on the end-use industry, the automotive segment is estimated to account for the largest market share of the Graphene battery market in 2019. This trend is expected to continue over the forecast period owing to the rise in the demand for electric vehicles due to environmental concerns and awareness about clean and sustainable fuel. The need for high power and energy density has created a demand for reliable and safe batteries for sectors such as automotive and consumer electronics, ultimately driving the growth of the Graphene battery market.
The automobile segment is expected to grow at a significant CAGR during the forecast period due to the high demand for battery-operated vehicles. Moreover, in the past few years, there has been an increase in awareness about environmental issues, and stringent government rules and regulations have driven companies to adopt new environment-friendly technologies. This factor is expected to augment the global Graphene battery market.
Lithium-Ion Graphene Battery Segment Is Expected To Witness Highest Growth In The Global Graphene Battery Market Across The Globe
Based on type, the lithium-ion Graphene battery segment constituted a major share over 15 million of the Graphene Battery market in 2019 and it is projected to grow at the highest growth rate above xx % during the forecast period owing to its wide applications in various end-use industries including automobile, consumer electronics, industrial, and power.
Graphene lithium-ion batteries are lightweight, durable, and suitable for high capacity energy storage, as well as shorter charging times which makes it ideal for end-use industries such as automotive, consumer electronics, industrial, and power.
The Market in Asia Pacific Expected To Hold a Largest Share in Graphene Battery Market over the Forecast Period
The Asia Pacific accounted for largest share over xx% of the Graphene battery market in 2019 and is expected to grow at rapid pace during the forecast period. China, Japan, and South Korea are key countries contributing to the increased demand for Graphene batteries in this region. In China, Japan and South Korea along with electric vehicles, Graphene battery is used in consumer electronics.
The China market revenue will register over 12% gains during the forecast period as the region is likely to experience significant increase in manufacturing capacity. While The Japan Graphene battery industry will expand at more than 20% during the forecast period. Established distribution channels coupled with increasing customer awareness will positively impact the sector. Japan was one of the first countries in the world to adopt electric vehicles for public transport.
North America Is Projected To Expand Significantly During The Forecast Period.
The rapid rise in infrastructure and industrialization in the U.S. and Canada. The U.S. is a major player in the automobile, military, and aerospace manufacturing sectors globally and is estimated to dominate the Graphene Battery Market in the region. U.S. Graphene battery market size valued at US$ xx Mn in 2019 and will grow significantly over the forecast period due to its high quality at affordable prices. Adoption of electric vehicles in the U.S. rapidly increased in the last few years, for instance, the U.S. reaches the highest monthly EV sales of 50,000subject to increasing government subsidies and growing environmental awareness among customers.
However, Europe is estimated to have the second-largest share of the global Graphene battery market in 2021. The Europe Graphene battery market is anticipated to expand significantly during the forecast period due to the high adoption of battery-operated vehicles in the region.
Some of the key players in the global Graphene Battery market are Samsung SDI, Huawei Technologies Co., Ltd. Log 9 Materials Scientific Private Limited, Cabot Corporation, Grabat Graphenano Energy, Nanotech Energy , Nanotek Instruments, Inc. , XG Sciences, Inc., ZEN Graphene Solutions Ltd., Graphene NanoChem, Global Graphene Group, Vorbeck Materials Corp. (US), Graphenea Group (Spain), Hybrid Kinetic Group Ltd., and Targray Group
Graphene Battery Market Key Segments:
Graphene Battery Market, By Type
- Lithium-ion Graphene battery
- Lithium-Sulphur Graphene battery
- Graphene Supercapacitor
- Others (Metal-Air Graphene battery, Lithium–Titanate Graphene battery, Lead Acid Graphene battery)
Graphene Battery Market, By End-use industry
- Consumer Electronics
- Others (Aerospace & Defense, Marine, Medical)
Graphene Battery Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America