Graphene Battery Market Overview:
The Global Graphene Battery Market size is projected to reach $115 million by 2022, growing at a CAGR of 38.4% during the forecast period (2016-2022). Graphene has the potential to be widely used in the field of physics, chemistry, information, energy, and device manufacturing. It is a thin, mechanically strong, transparent, and flexible conductor. Its conductivity can be modified over a large range of values either by chemical doping or by application of an external electric field. Graphene batteries are the new trend in the field of energy storage solution for various industry verticals. Graphene-based batteries consist of graphene as the electrode material for different battery types such as lithium ion, lead acid, and lithium sulphur. Graphene electrode material, such as few layered graphene and nano platelets graphene, enables the dramatic improvement of portable electronics and electric vehicles by providing better means for storing electricity.
The fundamental properties of graphene result in it being utilized for multitude of applications. Graphene has gained popularity for supercapacitors and batteries owing to its high surface area. Adoption of graphene-based batteries is expected to be high in the future because graphene electrodes will find application in the progress of other battery chemistries. For example, an aluminum-ion battery was recently developed that can be fully charged in less than a minute owing to the ultrafast ion intercalation into 3D graphene foams.
Rapid increase in the sale of electric vehicles globally and the booming portable electronics market creates strong growth potential for graphene-based batteries. Industries such as automobile, portable electronics, and energy are the early adopters of this technology, and are investing to develop a better energy storage solution for their respective energy storage demand. However, graphene has few limitations to be used in energy storage solution as it is important to know the energy density of a completely packaged cell and not just the capacitance of the active material.
The global graphene battery market is segmented on the basis of battery type, industry vertical, and geography. Based on type, it is divided into Li-ion batteries, Li-Sulphur batteries, supercapacitors, and lead-acid batteries. The market by vertical industry is divided into automotive, electronics, energy, healthcare, aerospace & defense, and industrial robotics. The automotive industry is anticipated to account for the largest graphene battery market share, as it is growing at a rapid pace and is highly dependent on batteries as the primary power source for electric vehicles such as electric bikes and electric cars. The market is analyzed on the basis of regions such as North America, Europe, Asia-Pacific, and LAMEA.
Automotive Industry to Lead the Graphene Battery Market:
The automotive industry includes sub-segments such as battery electric vehicles (BEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), electric bikes & scooters, electric bicycles, and passenger & commercial vehicle starter batteries. The global electric vehicle industry saw a threshold of approximately 1.26 million electric cars on the road in 2015. New registrations of electric cars increased by 70% between 2014 and 2015, with over 550,000 vehicles being sold worldwide in 2015. The key market restraints that limit the adoption of electric vehicles include high costs of these batteries. Graphene-based batteries are expected to address these concerns, thereby; leading to their increased demand. Asia-Pacific is estimated to emerge as the leading market of electric vehicles in the coming years.
Graphene-based Supercapacitors: Propelling the Market Growth
The graphene-based supercapacitors segment is expected to grow with highest CAGR during the forecast period. Supercapacitors can hold a large amount of electrical charge as compared to standard capacitors, and are therefore, a suitable alternative to the electrochemical batteries in many industrial and commercial applications. Thus, supercapacitors are certain to exhibit a high growth rate of 43% over the forecast period due to factors such as elasticity, lightweight, high mechanical strength, and minimal cost of production.
Asia-Pacific: Most Lucrative Graphene Battery Market
The study on the Asia-Pacific region covers nations such as China, Japan, India, and Australia. The region offers lucrative opportunities for stakeholders in the graphene battery market, and is anticipated to be the fastest-growing market over the study period. The growth of the market in the region is supplemented by the rise in sales of electric vehicles, surge in defense spending, growth in non-conventional energy sector, large base of industries, and increase in focus of key players on developing technologically advanced cost-effective graphene batteries. China’s booming electric car sales in 2015 made it the main market for electric vehicles around the world. The nation also holds the record for strongest deployment of e-scooters and electric buses.
The leading market players in the graphene battery market focus on expanding their business operations in fast-growing emerging countries. The companies that operate in the market have consistently introduced innovative solutions to enhance their product portfolio.
Key Winning Strategies
Product launch and partnerships have been observed as the two prominent growth strategies adopted by the key market players. The major players profiled in this report include Graphenano s.l, SiNode Systems, Inc., Graphene NanoChem PLC, Angstron Materials Inc., XG Sciences, Inc, Vorbeck Materials, Graphene 3D Lab Inc., NanoXplore Inc., Graphene Batteries AS, and Cambridge Nanosystems Ltd.
- The study provides an in-depth analysis of the global graphene battery market, with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis by product assists in understanding the various types of batteries used in different industries.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
Graphene Battery Market Key Segments:
- Li-Ion Battery
- Li-Sulphur Battery
- Lead-Acid Battery
- Aerospace & Defense
- Industrial Robotics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Middle East
- Latin America