Nanowire Battery Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1749
Nanowire Battery Market size has emerged with time and is anticipated to rise at substantial CAGR during the forecasted years. Several consumer electronic devices use lithium hydroxide batteries, the need for alternative technology to replace the old LiOH technology led to the development of nanowire battery. Reduction in size and overcoming the explosions problems owing to high storage in old batteries will reinforce the industry demand.
The main key drivers for boosting the nanowire battery market are portable electrical and electronic devices which include cell phones, laptops, wearable devices. Growing demand for advanced medical applications and devices has led to innovation of new medical products which uses batteries to store energy, in turn, propelling nanowire battery market.
Several research and development organisations have invested a huge amount in developing new products collaborating with various universities for making this technology easily available to consumers. Amprius is indulged in making and launching its innovative products with the help of Stanford Universities to meet the ever changing needs and desires of the customers.
Rising consumption of TVs, remote controllers, notebooks, laptops and electrical cars and bikes will raise the demand for nanowire battery market over the forecasted years. Low manufacturing cost involved in producing these products and its lightweight properties will be other prime reasons for augmenting the market. Recently, the product also found its application in drone and marine batteries.
Batteries which makes use of nanowires to intensify the surface area of both or single of its electrodes are called nanowire battery. These nanowires could enhance the battery performance by substituting old graphite anode with these wires. It is a lithium ion battery consisting of stainless steel anode covered with silicon wires. These products are proved to last longer than the traditional batteries which have its major applications in cell phones, laptops and several other electrical & electronic devices. They have abilities to expand four times when in charging and they do not fracture. They produce 10 times more electricity as compared to old conventional batteries.
On the basis of its type nanowire battery is segmented into metallic, semiconducting, insulating and molecular. On the basis of the raw materials used, it is divided into silicon, germanium and transition metal oxides. Further, transition oxides are divided into lead oxides anode, manganese oxide and hetero-structure TMOs. Among this silicon and germanium are widely used in this product high charge capacity and low discharge capacity. Using these materials enables faster charging and lasts longer than previous batteries.
Nanowire battery market can also be categorized based on its applications into portable electronic, electrical automobiles, medical implantable devices and storage for solar and wind energy. Among this, both consumer and industrial electrical devices hold the largest market share in this segment owing to increasing use of this product in remotes, laptops and mobile phones. Moreover, use of concerned product in medical devices with advancement in technology will foster nanowire battery market.
North America nanowire market is considered to be developed market and is anticipated to witness the same during the forecasted years. Increasing use of battery in several end user applications will impel the future growth. Also, developed industries in this region will try to find more applications of the product. Largely involved research and development projects with help of various Universities will fuel the industry size. Increasing pharmaceutical sector will enhance the nanowire battery market in the region.
Europe is the second largest market for nanowire battery market and is likely to remain the same over the projected years. With the presence of large number of automotive industries the product market is expected to soar at high CAGR. Several automobile players are involved in developing electrical cars which will raise the demand for nanowire battery market.
Asia Pacific is the fastest growing nanowire battery market due to rapid industrialization. China dominates the industry market with presence of large number of product manufacturers. Also, escalating population and improving economy in emerging nations have intensified the need for both consumer and industrial electronic devices, in turn, propelling the market demand. Booming energy and power sector in the region will drive nanowire battery market.
Global nanowire battery market is competitive in nature. Several global market leaders present include Ambri, Imprint energy, AT&T, Amprius, Boston Power, Envia systems, Sila Nanotechnologies, EnerDel, Hitachi cable and Sony.
In 2016, Mya Le Tai and Reginald Penner of UV Irvine have created a nanowire battery which can be recharged thousands of times. They found that by covering these batterie with a shell of Plexiglas-like electrolyte gel and manganese dioxide they can charge this battery over 200,000 times without degrading the performance quality and without losing any power capacity.
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