Market Research Report
Global Graphene Battery Market Forecast 2022-2026
|Published by||Inkwood Research||Product code||972349|
|Published||Content info||162 Pages
Delivery time: 2-3 business days
|Global Graphene Battery Market Forecast 2022-2026|
|Published: November 24, 2020||Content info: 162 Pages||
The global graphene battery market is predicted to register a CAGR of 28.17% during the forecast period, 2022-2026. The major factors expected to facilitate market growth are the rising investment in R&D, the need for battery performance in the electronic industry, and the increasing demand for electric vehicles.
Batteries that use graphene as electrode material are called graphene batteries. Graphene can be used in several types of conventional batteries like lithium-sulfur, lead batteries, lithium batteries, and material for super-capacitors.
Graphene-based batteries are under R&D due to its versatile properties, and the proper induction of these properties make them ideal batteries. The energy storage solution industry lacks awareness with regard to the use of graphene in batteries. The versatile properties of graphene are thus not fully incorporated in batteries. Technological advancements are set to eliminate this factor. Companies are making efforts to increase the awareness of the potential of graphene batteries in industry verticals like the power & energy sectors, portable electronics industries, and the automobile sector. Moreover, there is ongoing research on the application of graphene batteries in solar cells. Thus, there is rising R&D activities, with regard to graphene battery, to develop products like moldable graphene batteries and high-storage graphene super-capacitors. Such factors are set to contribute to its market growth. However, the high costs are set to hamper the market growth.
The global graphene battery market is geographically segmented into North America, Europe, Asia Pacific, and rest of world, for further growth evaluation. The Asia Pacific region is set to record the highest CAGR during the forecast period. The market growth is attributed to rapid industrialization and favorable government initiatives that support the adoption of electric vehicles.
The competitive rivalry is low since products are undifferentiated. This is because they all require graphene powered energy sources. Graphenano Group, Nanograf Technologies, Nanotech Energy Inc, Cabot Corporation, Hybrid Kinetic Group Ltd, etc. are among the prominent companies in the market.