iCrowd Newswire – Jul 20, 2020
The Global Graphene Battery Market is estimated to grow at a substantial growth rate with a CAGR of 31.2% during the forecast period 2020-2027. As per the detailed market study, the global graphene industry was valued $48.8 million in the year 2019 and is anticipated to reach $398.6 million by the end of the year 2027.
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Graphene batteries use graphene as electrode material; which is also used in various types of conventional batteries such as lead batteries, lithium batteries and lithium sulphur and material for supercapacitors.
The global graphene battery market is driven by various growth factors such as increase in sales volume of electric vehicles due to the properties such as less charging time along with better efficiency in covering a distance in minimum energy. Also, growth in demand of portable electronics widely supports the market growth over the future period. Moreover, increasing government investments in focused with research and development related to graphene battery also adds to the market growth. Whereas, lack of commercialization of graphene battery and lack of awareness related benefits and usage of graphene technology may act as major hindering factor for the market growth.
Segmentation Overview of the Global Graphene Battery Market
The global graphene battery market is analysed on the basis of battery type and application. These major market segments are further categorized into various sub-segments too study the global marketplace in detail while considering various market determinants and regional dynamics.
The segmentation study shows that the Li-ion battery segment hold the dominant market position in the year 2019 with more than 2/3rd of the market share in the global marketplace. The segment is projected to dominate the market place throughout 2027. Whereas, the supercapacitors segment is projected to grow at the fastest growth rate with a CAGR of 35.2% during 2020-2027.
On the basis of Battery Type Segment, the Global Graphene Battery Market is Sub-Segmented into:
- Li-ion Batteries
- Lead-acid Batteries
- Li-Sulphur Batteries
On the basis of Application Segment, the Global Graphene Battery Market is Sub-Segmented into:
- Industrial Robotics
- Aerospace & Defence
Key Players Insights of the Global Graphene Battery Market
XG Sciences, Inc., Vorbeck Materials Corp., Real Graphene USA, NanoXplore Inc., Graphenea S.A., Graphene NanoChem plc, Graphenano S.L., G6 Materials Corp., Cambridge Nanosystems Ltd. and Cabot Corporation are some major players included in the research study of the global graphene battery market. The market players are adopting various competitive strategies to withhold majority of the market share in the global marketplace. Product launches, collaboration, partnership, mergers and acquisition are some strategical developments adopted by market players to garner majority of the market share in the global marketplace.
Geographical Overview of the Global Graphene Battery Market
As per the regional studies, the Europe graphene battery market dominated the global marketplace in the year 2019 with ~1/3rd of the market share; the regional market is estimated to maintain the dominance the market over the forecast period. On the other hand, the Asia-Pacific graphene battery market is anticipated to grow at a fastest growth rate with a CAGR of ~34% during the forecast period 2020-2027.
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Keywords: Graphene Battery Market