The global graphene battery market is projected to be worth USD 609.2 Million by 2030, registering a CAGR of 23.92% during the forecast period (2022 - 2030).
Graphene battery are used in various end user industries such as aerospace & defense, automobile, electrical & electronics, among others. The growing demand from the developing economies across the globe are the key factors driving the global market of graphene battery. The growing inclination towards the electric vehicles along with the augmenting demand for consumer electronics are other factors contributing to the growth of the market. Among the various end use industry automobile is the dominant segment and expected to show the same trend during the forecast years.
Market Segmentation
The global graphene battery market is segmented into product, type and end user industry. On the basis of product type, the global graphene battery market is segmented into On the basis of type, the market is bifurcated into Li-ion graphene battery, Li-sulphur graphene battery, super capacitor, lead acid battery and others. On the basis of end use industry, the market is further segmented into automotive, electrical & electronics, aerospace & defense, energy, healthcare and others.
Market Scenario
Among the various product segment, the Lithium Ion graphene battery is expected to be dominant one is anticipated to continue its dominance during the forecast periods. The properties of Li-ion graphene batteries such as lightweight and high energy density paves their way into many end use industries such as automobile, electrical & electronics, aerospace among others. The supercapacitors product segment is anticipated to be the fastest growing segment during the review period. The advantages such as extended shelf life and enhanced charging abilities is contributing substantially to the growth of the segment. Moreover, the increased adoption of supercapacitors in cell phones is further surging the market growth. Graphene battery is extensively used over a wide range of industries, whereas automobile industry is anticipated to be the largest end use industry during the assessed period. The growing inclination towards electric cars is positively contributing to the growth of the segment.
Regional Analysis
The global graphene battery market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific is anticipated to be the fastest growing market on account of the developing automobile and electrical and electronic industry. Europe and North American graphene battery market is expected to witness a steady growth during the forecast years. The presence of stringent regulation to reduce the emission from automobiles along with the growing encouragement towards the adoption of electric vehicle are the key reasons attributing to the growth.
Competitive Analysis
Some of the prominent players operating in the Global graphene battery market are Grupo Graphenano (Spain), SINODE SYSTEMS (U.S.), Graphene NanoChem (U.K), Angstron Materials Inc (U.S)., XG Sciences (U.S.), Vorbeck Materials (U.S.), Graphene 3D Lab Inc (U.S.)., NanoXplore Inc.(Canbada), Graphene Batteries AS (Norway), and Cambridge Nanosystems Ltd (U.K) among others.
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