Graphene Battery Market Size By Technology (Lithium Ion, Lithium Sulfur, Supercapacitors, Lead Acid), By Application (Automotive, Electronics, Aerospace & Defense, Industrial Robotics, Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: Jan 2017 | Report ID: GMI1125 | Authors: Ankit Gupta, Aditya Singh Bais
Graphene Battery Market size surpassed USD 15 million in 2015 and is poised to witness around 20% growth between 2016 and 2024. Rising demand for portable electronic devices will drive the market growth.
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Strict government regulations to curb carbon footprint has stimulated the graphene battery market share, with these products classified as low emission versions. In 2008, the U.S. EPA introduced the National Emission Standard for Hazardous Air Pollutants (NESHAP) to regulate the battery manufacturing process. NESHAP section 112(c)(3) lists battery manufacturing area to be regulation pursuant as it involves use of lead and cadmium.
|Base Year:||2015||Historical Data for:||2013 to 2015|
|Market Size in 2015:||15 Million (USD)||Forecast Period:||2016 to 2024|
|Forecast Period 2016 to 2024 CAGR:||20%||No. of Pages:||145|
|2024 Value Projection:||97 Million (USD)||Tables, Charts & Figures:||133|
|Geographies covered (15):||U.S., Canada, Norway, France, Spain, UK, Australia, China, Japan, South Korea, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Segments covered:||Technology, Application and Region|
|Pitfalls & Challenges:|
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Graphene Stakeholders Association (GSA), a worldwide non-profit organization is working with Nanotechnologies Technical Committee (TC229) and International Organization for Standardization (ISO) to introduce standards for producing dependable, efficient and user-friendly products. This will eventually drive the market growth during the forecast period as standardization will restructure the industry demand in an organized manner.
Market by Technology
Lithium ion graphene battery segment generated around 9 million in 2015 and will likely see strong gains in the next 4-5 years as it finds wide applications in various end-use industries including automobile and healthcare.
The supercapacitors technology segment will witness substantial growth in the projected timeframe. Supercapacitors possess superior charging abilities and greater shelf life, making them commercially viable product for investors and customers. Cellphone manufacturers are increasingly adopting supercapacitors as it increases the operating life of the product.
Market by Application
Graphene battery industry value from healthcare applications will surpass USD 25 million by 2024 impelled by growing demand for portable medical devices.
The electronics industry accounted for over 30% market revenue in 2015 and are expected to continue its dominance till 2024. The industrial robotics sector is an upcoming application avenue and will witness gains of over 10% during the next few years.
Market by Region
U.S. graphene battery market size valued at USD 3 million in 2015 and will grow significantly through 2024 due to its high quality at affordable prices. Adoption of electric vehicles in the U.S. increased from over 5000 in 2011 to over 70,000 in 2015 subject to increasing government subsidies and growing environment awareness among customers.
The China market revenue will register over 15% gains during the forecast period as the region is likely to experience significant increase in manufacturing capacity, upwards of 2,000 tons per year.
Japan graphene battery industry will expand at more than 25% from 2016 to 2024. Established distribution channels coupled with increasing customer awareness will positively impact the sector. Japan was one of the first countries in the world to adopt electric vehicles for public transport.
UK industry size for 2015 exceeded USD 2 million as the government in the region has introduced strict regulations on the use of batteries with bio-hazardous content, propelling the market demand.
Norway market share is likely to witness strong growth in the coming years owing to high penetration of electric vehicles coupled with favorable government initiatives towards adoption of low emission technology. More than 20% of automobiles in Norway are electric or hybrid vehicles, and the government intends to subsidize the industry to further reduce the carbon footprint.
Competitive Market Share
Key players in the market are Cabot Corporation, Group NanoXplore, Graphene 3D Lab, Graphenano, SiNode Systems, Graphene NonoChem, XG Sciences, and Cambridge Nanosystems.
Competitive pricing strategies and a shorter lead time in delivering products are key strategies proving advantageous for local manufacturers. In 2015, XG Sciences announced a strategic investment made by Samsung Ventures, to fund research into more effective use of graphene for greater commercial use.
The market research report for graphene battery includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2024, for the following segments:
- Lithium Ion Battery
- Lithium Sulphur Battery
- Lead Acid Battery
- Aerospace & Defense
- Industrial Robotics
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America
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