Graphene Battery Market Size to Reach USD 398.6 Million by 2027 | CAGR of 31.2% - Valuates Reports
BANGALORE, India, Nov. 9, 2020 /PRNewswire/ -- A new Graphene Battery Market Research Report published on Valuates Reports in Electronics & Electrical Category. The report contains segmentation based on Type (Offset Printing, Intaglio Printing, Digital Printing, Other), Based on Application (Image, Painting, Pattern, Other). It also covers Global Opportunity Analysis and Industry Forecast to 2027.
The global Graphene Battery Market size was valued at USD 48.8 Million in 2019 and is projected to reach USD 398.6 Million by 2027, to register a CAGR of 31.2% during the forecast period.
Major factors driving the growth of graphene battery market size are, increasing demand in consumer electronics and automotive industries, continuous R&D and features such as rapid charging power, improved charge cycles, high-temperature performance, and extended charge holding time.
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TRENDS INFLUENCING THE GRAPHENE BATTERY MARKET SIZE
Graphene is an efficient conductor that is extremely lightweight and highly versatile with a wide surface area, making it an ideal material for high-capacity energy storage. Continuous R&D activities are underway to develop new and improved products, such as graphene-based supercapacitors and lithium-sulfur batteries. This continuous R&D is, in turn, expected to fuel the graphene battery market size.
The global demand for graphene batteries is driven by a rise in electric vehicles in the automotive sector and portable electronics, such as cell phones, laptops, tablets, and portable speakers. Thus, the growing adoption of graphene in the automotive sector is expected to increase the graphene battery market size.
Graphene is an excellent substrate to build high energy & density, lightweight, stretchable, fast charging, and long-lasting batteries for anchoring lithium battery anode and cathode materials. Calculations show that graphene has the ability to help realize supercapacitors with the energy density of batteries that can be recharged in seconds due to its incredible quantum capacitance and excellent electrical and mechanical properties. These features are, in turn, expected to increase the graphene battery market size.
The graphene battery's longer shelf life also serves as a catalyst for the graphene battery market size growth. However, high graphene battery manufacturing costs and prohibitive mass production of graphene batteries could hamper the market growth.
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GRAPHENE BATTERY MARKET SHARE ANALYSIS
Europe is expected to hold the largest Graphene battery market share during the forecast period. This dominance of the European region is attributed to the presence of major graphene manufacturing companies in the region.
Asia-Pacific has been the second-largest revenue contributor in the graphene battery market and is expected to see considerable growth during the forecast period. This rapid growth of the Asia Pacific region is due to increased CO2 emission regulations and a growing understanding of non-conventional energy resources. For example, by accelerating electric cars' production, the Japanese government is targeting a 25 percent reduction in CO2 emissions by 2020 and 50 percent by 2050. The energy storage market requires graphene-based batteries with ultra-large capacity and rapid charge-and discharge capacity to achieve this.
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Key Market Segments
By Battery Type
- Li-ion Batteries
- Li-sulfur Batteries
- Supercapacitors
- lead-acid BatteriesL
By Application
- Automotive
- Electronics
- Energy
- Aerospace & Defense
- Industrial Robotics
- Healthcare
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Turkey
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australi
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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