Energy Storage
Graphene Battery Market Outlook: Growing trend of Electric Vehicles to build a profitable industry roadmap
The growing trends of portable electronic devices and increasing electric vehicle demand will proliferate the graphene battery market growth in the coming years. According to Global Market Insights, Inc. “Graphene battery market size is estimated to witness a CAGR of 20% over the period of 2016-2024.” Graphene products are regarded as low emission versions and hence are being widely adopted to promote a green environment. Moreover, its advantages such as effectiveness in high temperatures, increased charge cycles, quick charging capacity, and extended charge holding capacity will enhance the graphene battery industry outlook over the coming years.
Europe Graphene Battery Market size, by application, (USD Million), (2014 – 2024)
Stringent regulatory norms to curb emissions and carbon footprint have positively influenced the graphene battery industry share. Batteries constitutes of lead and cadmium which releases pollutants in the environment. In this regard, in 2008, the U.S. EPA established the National Emission Standard for Hazardous Air Pollutants (NESHAP) to regulate the emissions during the battery manufacturing process. Furthermore, implementation of these strict norms to limit automobile emissions will also boost hybrid and electric vehicles demand.
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Graphene battery is one of the fastest energy storing solutions available, globally. Moreover, graphene has higher heat resistance with improved recharging efficiency making them a safer option for electric vehicles. Graphene is poised to change the future of batteries with 10x faster charging and making it more reliable, efficient, and strong.
Based on technology, the graphene battery market is segmented into Lithium Ion, Lead Acid, Lithium Sulfur, and Supercapacitors. Supercapacitors are overtaking the market due to its superior charging abilities and greater shelf life. Moreover, mobile manufactures are also widely adopting the supercapacitors for increasing operating battery life, which in turn is fueling the supercapacitors graphene battery industry share.
The beneficial properties of graphene are making it a promising material for a multitude of applications. The versatile use of graphene batteries in Automotive, Aerospace & Defense, Healthcare, Electronics, and Industrial Robotics industries has generated significant growth opportunities in graphene battery market. Aerospace & defense applications are likely to observe considerable growth with increased defense expenditure in developed nations.
Below are the key insights in terms of technology, applications, and regions pertaining to the global graphene battery industry trends.
- Graphene battery industry share from supercapacitors is anticipated to register a CAGR of 25% over the period of 2016-2024.
- Lithium ion battery segment worth USD 9 million in 2015, is projected to witness a significant growth, owing to its increasing adoption in healthcare and automobiles industry.
- UK is foreseen to witness a booming growth at over 20% over 2016-2024.
- Graphene battery industry share in healthcare sector is estimated to exceed USD 25 million by 2024. The business growth is favored by increasing emphasis on portable medical devices.
- Industrial robotics application will witness an annual growth rate of 10% over 2016-2024.
- Japan graphene battery market size is predicted to grow at over 25% over the period of 2016-2024. The growth can be attributed to increasing adoption of electric vehicles for public transport.
Taking into consideration the regional outlook, Asia Pacific market is set to grow significantly, subjected to heavy gains from Japan and China graphene battery market. China will observe considerable boost in manufacturing and production capacity, surpassing 2000 tons of graphene annually from 2016. Favorable government initiatives and introduction of strict regulations on the use of bio-hazardous batteries will bring positive impact on the growth of global graphene battery market. Increasing adoption of electric vehicles in the U.S. will drive the North America graphene battery industry revenue. Norway graphene battery market share will witness heavy gains as more than 20% of automobiles in Norway are hybrid or electric vehicles.
The notable industry players of graphene battery market worldwide are Cabot Corporation, XG Sciences, Inc., SiNode Systems, Inc., NanoXplore Group Inc., Graphenano, Graphene NonoChem, Graphene 3D Lab, Cambridge Nanosystems, etc. Cost-effective products and shorter delivery lead time will be the key business strategies adopted by the market participants over the coming years.
Author Name : Ojaswita Kutepatil
Thin film battery market to witness a double-digit growth rate over 2016-2024
Increasing demand for light weight, compact, and portable products have spurred the growth for thin film battery market. Internet of things has contributed towards a great deal in regards with increasing application of thin film battery in phablets and smartphones coupled with its utilization in sensor networks. Rising standard of living with high disposable incomes will generate increased adoption for wearable devices including watches, smart fabrics, fitness trackers, and glasses and will in turn favor the thin film battery industry trends. According to Global Market Insights, Inc., “Thin Film Battery Market size worth USD 200 million in 2015, is estimated to grow at a CAGR of 25% over the period of 2016-2024.” The various benefits allied with the use of thin film battery in electronics include lower cost, less weight, higher energy density, and smaller footprint.
UK Thin Film Battery Market size, by application 2013-2024 (USD Million)
The chargeable and disposable battery are the two-major product categories of the thin film battery industry. Chargeable batteries are suitable for wireless sensors networks and have accounted for over 40% of the overall industry revenue in 2015. The other type, i.e. disposable thin film battery acts as energy source for semi-battery-assisted passive RFID, greeting cards, toys, consumer music, semi-active tags with sensors, and one-time password display type smart cards. Disposable thin film battery market is estimated to register a CAGR of 20% over the period of 2016-2024.
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The ability of thin film batteries to perform better makes its adoption more common in medical devices, wearable electronics, consumer products, smart cards, RFID, sensors, and backup power applications. Increasing number of mobile users along with rising adoption of smart cards, SIM cars, EMV cards will stimulate the thin film battery industry share. The smart card application is projected to surpass USD 130 million by 2024. These batteries also find important application in security systems, as RFID and sensors are used to monitor risks related to cyber security and financial crimes augmenting the thin film battery market outlook.
US thin film battery market worth USD 70 million in 2015, is anticipated to witness heavy gains due to increasing adoption of EVM chip card technology. By 2018, over 95% of credit cards would be enabled with EMV chip which will create huge opportunities for regional growth. Furthermore, Brazil thin film battery market will also witness promising growth, owing to increasing implementation of EVM chips to minimize payment scams.
Backup power is another lucrative area of application where thin film battery finds immense application, owing to increasing demand for uninterrupted power supply and rapid growth of wireless communication system. Thin film battery industry demand from backup power is anticipated to register a CAGR of 20% over the period of 2016-2024. Moreover, medical device applications will witness heavy gains, owing to increasing adoption of throw-away medical equipment.
Asia Pacific thin film battery industry is anticipated to witness significant growth due to heavy regional demand for wearable devices and increase in per-capita income in countries such as China, South Korea, and Japan. China thin film battery market size is estimated to surpass USD 100 million in coming seven years.
Few of the notable industry players are Excellatron Solid State LLC, STMicroelectronics, BrightVolt Inc, Imprint Energy Inc, Cymbet Corporation, Enfucell Oy, Blue Spark, and FlexEl.
Author Name : Ojaswita Kutepatil
Global Market Insights Inc. 