Graphene Batteries Market to cross $97mn by 2024
Published Date: January 25, 2017 Authors: Ankit Gupta, Aditya Singh Bais
Graphene Batteries Market size is set to cross USD 97 million by 2024; as per a latest study by Global Market Insights, Inc.
Increasing electric vehicle demand and portable electronic device penetration trends will drive the global market size. Graphene has higher heat resistance with improved recharging efficiency when compared with conventional material including lithium ion making them a safer option for electric vehicles.
Strict regulatory trends over carbon footprint and emission norms have had a positive impact. In 2008, the U.S. EPA introduced the National Emission Standard for Hazardous Air Pollutants 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.
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With respect to technology, supercapacitors are anticipated to outline a favorable graphene batteries market outlook. The segment is projected to observe healthy growth of more than 25% through the forecast timespan.
Greater shelf life and superior charging abilities are few of the attractive features which are likely to proliferate the segment growth in the market. In addition, mounting supercapacitor demand used in mobile phone apps is a major factor augmenting the industry growth through 2024.
Lithium ion batteries segment valued at USD 9 million in 2015. Mobile phones, laptops and tablet phones are notable adoption areas contributing to segment growth. In 2015, over 60% of adult population in the U.S. had at least one portable electronic device compared to over 30% in 2011.
Browse key industry insights spread across 145 pages with 123 market data tables & 11 figures & charts from the report, “Graphene Batteries Market Size By Technology (Lithium Ion Battery, Lithium Sulphur Battery, Supercapacitors, Lead Acid Battery), By Application (Automotive, Electronics, Aerospace and Defence, Industrial Robotics, Healthcare), Industrial Analysis Report, Regional Outlook (U.S., Canada, Norway, France, Germany, UK, Australia, China, Japan, South Korea, UAE, Saudi Arabia, South Africa, Brazil, Argentina) Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents, please click on the link below:
Graphene batteries industry is anticipated to observe significant growth owing to rising applications in the healthcare sector. Healthcare applications are estimated to surpass $25 million through 2024.
Growing applications of portable medical devices is the major factor pushing the segment expansion in the market. In addition, rising focus over these devices in developed nations is likely to outline the healthcare applications growth through 2024.
North America graphene batteries market is predicted to witness significant gains in the coming years. The U.S. is likely to lead the market expansion in the region. It was valued at more than $3 million in 2015.
The availability of high-quality products at very affordable prices is the major factor augmenting the industry outlook in the region. Apart from this, rising adoption of electric vehicles due to growing government subsidies and customer awareness across the U.S. is likely to push the market demand in the coming years.
Along with North America, Europe market is also estimated to observe heavy gains through 2024. The UK is anticipated to lead the market share in the region. In fact, it is projected to observe strong growth of more than 20% during the forecast time period.
EU Battery Directive enacted by Government in 2008 is the major factor responsible for the adoption of graphene batteries across the region. Specifically, the stringent regulations introduced by government under this directive on the use of batteries that contain bio-hazardous materials would possibly proliferate the market share.
China is likely to lead the APAC graphene batteries market share through 2024, with estimates expecting that it would exceed a valuation of $10 million through the forthcoming timespan. The region is predicted to witness substantial growth in the production capacity of graphene of 2,000 tons annually till 2024.
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- Graphene industry to become the next revolutionary name in specialty chemicals space, Estimates claim the market to record a phenomenal CAGR of 35% over 2017-24