Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Nanowire Battery Market Research Report.
The global nanowire battery market is set to soar at a high growth rate throughout the forecast period (2016-2022), asserts Market Research Future (MRFR). Nanowires are structures that have a diameter of tens of nanometers or less. The surface area of the electrodes of a normal battery is increased through the use of nanowires; which is then called a nanowire battery.
Market Drivers and Restraints
The key drivers bolstering the nanowire battery market are portable electrical and electronic devices that include cell phones, laptops, wearable devices. Increasing demand for advanced medical applications and devices has resulted in constant innovation of new medical products which uses batteries to store energy, in turn, propelling nanowire battery market.
Low manufacturing cost for producing these products and its lightweight properties are bound to be other prime reasons for propelling the market growth. Presently, the product is also making its way into applications in drone and marine batteries.
However, it is noted that nanowire batteries are susceptible to the edge effect. The edge effect is when the conductivity of the battery is affected if the bonding between the neighboring atoms on the surface of the nanowire is weak. This factor could cause some damage to ongoing growth of the nanowire battery market.
On the other hand, several research and development organizations continuously invest massive amount to develop new products and collaborate with various universities. These collaborations entail making this technology easily available to consumers. Also, a number of researchers are striving to solve the minor challenges associated with nanowire batteries by coating nanowires with a certain type of a gel. For instance, in 2016, researchers at the University of California created a new gel coating for nanowire battery that could be cycled many times without wearing out.
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The global nanowire battery market is segmented based on applications and regions.
Applications of nanowire battery are consumer electronics devices, automotive, healthcare, energy storage, power generation and others. Among this, electronics devices segment holds the largest market share owing to increasing use of this product in remotes, laptops, and mobile phones. Whereas, use of concerned product in medical devices with advancement in technology will bolster the nanowire battery market
The regional segmentation of the global market is based on North America, Europe, Asia Pacific (APAC) and the Rest of the World.
Globally, North America has claimed the largest market share backed by the presence of global players, especially in the United States (U.S) and Canada. Immensely involved research and development projects with the help of several universities will augment the market size. Thriving pharmaceutical sector will also enhance the nanowire battery market in the region.
The report also states that APAC stands at the second position globally due to the strong presence of manufacturers in China and Japan. Moreover, escalating population and growing economy in emerging nations in the region have intensified the demand from both consumer and industrial electronic devices. This factor is vastly responsible for the high market demand. Also, booming energy and power sector in the region will trigger the nanowire battery market growth.
The region of Europe will note surmountable growth rate on account of several automobile players being involved in developing electric cars, raising the demand for nanowire battery market. Continuous technological development by manufacturers also helps in bolstering the market growth in the region.
The prominent players making name in the global market are Boston Power Inc. (U.S.), Prieto Battery Inc. (U.S.), Imprint energy Inc. (U.S.), Ambri Inc. (U.S.), Xilectric Inc. (U.S.), Amprius Inc. (U.S.), Pellion Technologies (U.S.), EnerDel, Inc. (U.S.), Envia Systems Inc. (U.S.), Sila Nanotechnologies Inc. (U.S.) and others.