In addition, the Global Dual Carbon Battery Market growth has been expected to rise at a CAGR of 5.5%, with a USD 5870.12 Million during the forecasting year of 2022-2030.
Dual carbon battery market with the increasing growth in the population and improvement in the living standards, the human demand for backup power generation has also increased. Although the various power generation storages are available, alternative power generation for backup purposes is not commercially viable. The energy supply may not match energy demand. Fuel cells can be used to fulfill the backup energy demands of the system.
Fast charging capability, cheap manufacturing cost compared to other batteries, and being eco-friendly with 100% recycled features are the factors that are expected to drive the dual carbon battery market during the forecast period. On the other hand, the rise in graphite carbon prices and the competition from other battery technologies are the factors decreasing the market's growth. The automotive battery market segment is expected to witness significant demand over the forecast period. The automotive industry remains one of the largest end-users of batteries and the growing vehicle market, which is likely to boost the dual carbon battery market. Dual carbon batteries are expected to significantly extend the length of the charge and the overall lifetime while greatly reducing cost, charge times, and environmental impact.
The key players of global dual carbon battery market are JSR Corp, Loxus, Hitachi Chemical, Lishen Tianjin, BYD, Amperex Technologies, Panasonic, LG Chem, Samsung SDI, Johnson Controls.
April 2021:
In April 2021, the researchers at IIT Hyderabad, India, developed a dual carbon battery that can reduce overall battery cost by 20-25% and be environmentally friendly. Further research is underway to increase the energy density of the storm.
Although dual carbon batteries promise to revolutionize the automotive battery segment, the low production rate of these batteries and the dominance of alternatives, such as lithium-ion batteries, are expected to slow down the market growth for the next few years. The dual carbon technology has not yet been deployed on a large scale, and manufacturers are still struggling to penetrate the automotive sector.
Global Dual Carbon Battery market has been segmented based on types, application, and region.
Based on type, the market is classified into disposable battery and rechargeable battery. The rechargeable segment dominates the market as technological advancements are getting implemented in these types of batteries. These batteries are way more efficient as compared to other lithium-ion batteries. There are lot of advantages of dual carbon batteries over other types of batteries which makes it an ideal choice for many end-user segments such as electronics and electric vehicles. These advantages include no need of cooling, saving power, and complexity. Moreover, no rare earth metals, which enables a lower cost and provide better price stability.
Global Dual Carbon Battery market is expected to witness substantial growth during the forecast period owing to increasing number of electric vehicle and growing electronics sector. For instance, in 2016, new registrations of electric cars made a new record with worldwide sales of over 750,000 electric vehicles. Furthermore, the global electric car stock crossed two million vehicles in 2016, after crossing the one million threshold in 2015. The growth was primarily led by the US and until 2015, the country accounted for the largest share of the global electric car stock. All these will drive the market for dual carbon battery market during the forecast period.
Dual carbon batteries are energy storage batteries that uses a form of carbon for both anode and the cathode. These batteries are 100% recyclable and are being developed to use carbon produced with organically grown cotton. These batteries can charge upto 20 times faster than lithium ion batteries. This charging can make electric vehicles more convenient for daily usage. For instance, Tesla S can be charged in 90 seconds with the help of these dual carbon batteries.
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 5870.12 Million |
| CAGR | 5.5% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | JSR Corp, Loxus, Hitachi Chemical, Lishen Tianjin, BYD, Amperex Technologies, Panasonic, LG Chem, Samsung SDI, Johnson Controls |
| Key Market Opportunities | Growing usage of electric vehicles across the globe New product launches and R&D Amongst major key players |
| Key Market Drivers | Increasing developments in the electronics sector |
Dual Carbon Battery Market Highlights:
Frequently Asked Questions (FAQ) :
The market expansion take place at a rate of 5.5% between 2022 and 2030.
Rising developments within the electronics sector paired with the surging use of electric vehicles will ensure that the market size increases tremendously by 2030.
The listed players in the report are Johnson Controls, BYD, Panasonic, JSR Corp, Hitachi Chemical, Loxus, Lishen Tianjin, Amperex Technologies, LG Chem, Samsung SDI, to mention a few.
The United States (U.S.) is leading the North American market for dual carbon battery.
The advantages of dual carbon batteries that make it an ideal choice for the end-users include power saving, no need of cooling, and low complexity, in addition to affordable and better price stability.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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