Synopsis of Graphene Battery Market
Graphene is a sheet where carbon atoms are bound together in a honeycomb pattern, which is extensively used in batteries due to its excellent conducting properties. The properties such as lightweight, chemically inert, flexibility and eco-friendly nature find its application in many end-user industries. Graphene, when used in batteries, makes them durable, lightweight, and makes them ideal for applications which require high energy storage and shorter charging time. The growing demand for the electric vehicle along with increasing penetration of consumer electronics is expected to impact positively on the market growth. The Global Graphene Battery Market is anticipated to show burgeoning growth with a CAGR of over 10% during the forecast period. The demand from the end use industries is a major factor driving the growth of the Global Graphene Battery Market. Some of the major end-use industries include automobiles, electrical & electronics, aerospace & defense, energy, and healthcare among others. The growing industrialization and urbanization in the developing economies across the globe are expected to boost the market during the forecast years.
Among the various product type in Graphene Battery Market, the Lithium-ion batteries are the leading segment of the market and are anticipated to continue its dominance over the forecast period. This growth is attributed to advantages of Li-ion batteries such as high energy density and enhanced safety. Among the end user industry, automotive is expected to be the largest segment and is expected to grow at a considerable CAGR. The growing demand for electric vehicles is expected to contribute to the growth of the segment.
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The Global Graphene Battery Market is segmented into the product, type, and end-user industry. On the basis of the product type, the Global Graphene Battery Market is segmented into Li-ion graphene battery, Li-sulphur graphene battery, supercapacitor, lead-acid battery, and others. On the basis of the end-use industry, the market is further segmented into automotive, electrical & electronics, aerospace & defense, energy, healthcare, and others.
The Graphene Battery Market is segmented into five regions: Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific is expected to be the fastest growing market with an expanding CAGR during the forecast period. Rapid growth in the industries and urbanization is fuelling the growth of the Graphene Battery in the developing countries of Asia Pacific. Moreover, the growing demand for consumer electronics in the region has resulted in the increase in the adoption rate of graphene batteries. Furthermore, the growing purchasing power parity in the region has augmented the sale of automobiles, which is further contributing to the market growth. China, India, and Japan are the largest consumers of Graphene Battery in this region. North America is another dominant region in the Graphene Battery Market. The developed end-user industries such as electronics, aerospace, healthcare among others are significantly driving the market growth. Moreover, the presence of stringent regulations on the reduction of automobile emission is also contributing to the market growth. The European market is mainly driven by the developed electrical & electronics, healthcare, and automobile sector. Moreover, the growing demand for medical devices in the region has substantially affected the growth of the market. Furthermore, the burgeoning electric car sales in the region, especially in Germany and the U.K, is anticipated to drive the market growth further. According to the Statistica, the most sold electric car was Renault Zoe, which recorded a sale of over 17 thousand units in 2016.
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