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 Market Overview
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 is an effective conductor, which is extremely lightweight and highly flexible with a large surface area, making it an excellent material for high-capacity energy storage. Developments like the continuous R&D activities to develop innovative and improved products, such as graphene-based supercapacitors and Lithium-sulfur batteries, are in progress. The adoption of graphene-based batteries is expected to increase during the forecast period due to quick charging capacity, increased charge cycles, effectiveness in high temperatures, and extended duration to hold a charge. The market is anticipated to witness high financial investments due to its high investment return.
The rise in sales of electric vehicles majorly drives the graphene battery market growth, owing to the extended range for long-distance traveling and lesser charging time. Moreover, the thriving portable electronics market is expected to boost market growth. Furthermore, increased government investments in R&D are expected to provide lucrative growth opportunities. However, the lack of awareness of graphene technology and the incapability of the market for the in-commercialization process of graphene batteries are expected to hinder the growth of the graphene battery market. Nonetheless, graphene has been recognized for its potential to be widely used in the fields of physics, chemistry, information, energy, and device manufacturing. Its conductivity can be modified over a large range either by chemical doping or an electric field. This report covers automotive, aerospace & defense, healthcare, energy storage, electronics, and industrial robotics. Automotive, electronics, and aerospace & defense are expected to consume the major share of the global market.
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.(Canada), Graphene Batteries AS (Norway), and Cambridge Nanosystems Ltd (U.K) among others.
Graphene battery market share by end-use industry.
Source: MRFR analysis
The graphene battery market is segmented into five regions: Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific is expected to be the fastest growing market with an expanding CAGR during the forecast period. Rapid growth in the industries and urbanization is fuelling the growth of the graphene battery in the developing countries of Asia Pacific. Moreover, the growing demand for consumer electronics in the region has resulted in the increase in the adoption rate of graphene batteries. Furthermore, the growing purchasing power parity in the region has augmented the sale of automobiles, which is further contributing to the market growth. China, India, and Japan are the largest consumers of graphene battery in this region. North America is another dominant region in the graphene battery market. The developed end-user industries such as electronics, aerospace, healthcare among others are significantly driving the market growth. Moreover, the presence of stringent regulations on the reduction of automobile emission is also contributing to the market growth. The European market is mainly driven by the developed electrical & electronics, healthcare, and automobile sector. Moreover, the growing demand for medical devices in the region has substantially affected the growth of the market. Furthermore, the burgeoning electric car sales in the region, especially in Germany and the U.K, is anticipated to drive the market growth further. According to the Statistica, the most sold electric car was Renault Zoe, which recorded a sale of over 17 thousand units in 2016.
The global graphene battery market is segmented into the product, type, and end-user industry. On the basis of the product type, the global graphene battery market is segmented into Li-ion graphene battery, Li-sulphur graphene battery, supercapacitor, lead-acid battery, and others. On the basis of the end-use industry, the market is further segmented into automotive, electrical & electronics, aerospace & defense, energy, healthcare, and others.Recent Development
Asia-Pacific was the second-largest contributor in revenue and is expected to witness significant growth during the forecast period, owing to an increase in the adoption of CO2 emission regulations and a surge in awareness of non-conventional energy resources. For instance, the Japanese government focuses on a 25% reduction of CO2 emission by 2020 and 50% by 2050 by accelerating the development of electric vehicles, eco-driving, hybrid vehicles, and hydrogen vehicles.
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
|Market Size||2030: Significant Value|
|Forecast Period||2021 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Type, and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.(Canada), Graphene Batteries AS (Norway), and Cambridge Nanosystems Ltd (U.K)|
|Key Market Opportunities||The growing industrialization and urbanization in the developing economies across the globe are expected to boost the market during the forecast years.|
|Key Market Drivers||The demand from the end use industries is a major factor driving the growth of the global graphene battery market.|
The graphene battery market has a chance to rise with 9.84% CAGR during the forecast period covering 2021 to 2030.
The lithium-ion market has the chance to take the global graphene battery market ahead.
The automobile segment has the potential to take the graphene battery market ahead.
The inclusion and rising demand for electric vehicles would influence the global graphene battery market ahead.
The graphene battery market would benefit from strategic decisions of Graphene NanoChem (U.K), Grupo Graphenano (Spain), SINODE SYSTEMS (U.S.), XG Sciences (U.S.), Vorbeck Materials (U.S.), Graphene Batteries AS (Norway), Angstron Materials Inc (U.S)., NanoXplore Inc.(Canada), Graphene 3D Lab Inc (U.S.)., and Cambridge Nanosystems Ltd (U.K).