Rising Demand from Electric Vehicles favors Global Graphene Battery Market Growth
Inkwood Research estimates that the Global Graphene Battery Market is projected to record a CAGR of 28.17% in terms of revenue during the forecasting years of 2022-2026.
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Graphene is a composition of carbon atoms closely-bounded in
a honeycomb or hexagonal-like structure. It is one atomic layer thick, making a
graphene sheet two dimensional. This further enables properties like high
flexibility, low weight, high strength, and excellent electrical & thermal
conductivity.
Growing
Demand from Electric Vehicles Propels Market Growth
The growing sales of electric vehicles have increased the
demand for high storage and high capacity batteries. Batteries are one of the
expensive components of a vehicle, having a limited range as compared to
gasoline-powered vehicles. The automobile players are engaged in the production
of electric vehicles with increased range and decreased charging time.
The graphene battery technology is capable of storing and
distributing energy for a longer period. It is becoming increasingly popular in
the automobile industry, since they enable increased range for long-distance
traveling with less charging time. Graphene batteries charge at a faster rate
than a standard lithium-ion battery, and is a safer option. Thus, the capacity
of graphene batteries in minimizing the charging time and increased range in
electric vehicles is set to fuel its market growth during the forecast period.
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Supercapacitors
are the fastest-growing Battery Type
Supercapacitors offer a considerably larger surface area and
high-power density than conventional storage capacitors and batteries. The
graphene-powered supercapacitors provide high electrical power and fast
charge-discharge cycles. They are utilized to store more energy per kilogram
than lithium-ion batteries, and also aid in tackling limited range problems.
They are potential applications for the electronics and automotive industries. The
manufactures across the world are focusing on research & development
activities are developing graphene-electrode material for supercapacitors. The
growing usage of portable electronics and electric vehicles is thus projected
to facilitate graphene supercapacitor growth.
Asia Pacific – The Leading &
Dominating Region by 2026
The rapid industrialization and
development of industrial robotics and electric vehicles are the primary
factors enhancing the market prospects of the Asia Pacific. Many countries,
such as India, Australia, China, and Japan, have adopted CO2 emission
regulations, and are set to adopt non-conventional energy resources. Such
factors, along with favorable government initiatives and the rising per capita
income of developing countries, further contribute to market growth.
The market has fewer companies
manufacturing graphene battery, resulting in minimal competition among the
players that manufacture high quality graphene. This is because it creates an
environment where the option for buyers is limited. Some of the eminent
companies present in the market include, Nanograf Technologies, XG Sciences Inc,
Graphenano Group, Nanoxplore Inc, etc.
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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