Graphene battery market size in the healthcare sector is expected to hit USD 25 million by 2024, owing to the rising preference for portable medical instruments. Electronics application, which contributed over 30% of the overall revenue in 2015, are projected to make notable contributions toward the overall returns on sales.
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Strict legislations for maintaining ecological balance by reducing GHG emissions will lead to the cumulative growth of graphene battery market. In a bid to reduce carbon footprints in the atmosphere, electric vehicles are being adopted extensively across the globe, which will further escalate the business development prospects. Europe has witnessed maximum electric vehicle sales since the last few years, with more than 1,50,000 vehicles sold in 2015. High investments in research & development activities to enhance the shelf life, effectiveness, and quality of the battery will also boost the industry trends. As per the Global Market Insights, Inc., “Graphene Battery Industry revenue, worth USD 15 million in 2015, is anticipated to surpass USD 97 million by 2024.”
Stringent government regulations with the focus to reduce carbon emissions will drive the graphene battery market. National Emission Standards for Hazardous Air Pollutants (NESHAP) introduced by the U.S. Environment Protection Agency regulates the battery manufacturing process subject to the use of lead in cadmium in batteries. Standardization restructures the industry demand and will stimulate the graphene battery industry share.
Growing environment awareness along with increasing government subsidies led to the increased adoption of electric vehicles in the U.S. up to 70,000 in 2015. The U.S. accounted for over 76% of North America graphene battery market in 2015 subject to high quality at affordable price.
UK graphene battery Market for 2015 was valued over USD 2 million. Strict government regulations on the adoption of batteries with bio-hazardous content will propel the business growth.
Reduction of carbon footprints coupled with government subsidies will drive the graphene battery market in Norway. Over 20% of automobiles in Norway are electric or hybrid vehicles which will boost the demand for graphene batteries.
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China graphene battery Market is predicted to reach over USD 11 million by 2024 subject to rise in the manufacturing capacity by 2,000 tons per year. Advancement in technology and strong government support to encourage electrical vehicle adoption will further propel the business growth. In 2017, China announced to deploy approx. five million electric vehicles by 2020. Japan was the first country involved in adoption of electric vehicles for public transport and will witness the growth over 25% subject to established distribution channels and increasing customer awareness.
Major participants in graphene battery market are Graphene 3D Lab, SiNode Systems, XG Sciences, Graphene Nanochem, Graphenano, Cabot and Group NanoXplore.
Major Key Points from Table of Content:
Chapter 4 Graphene Battery Technology Insights
4.1 Graphene Battery Industry share by technology, 2015 & 2024
4.2 Lithium Ion Battery
4.2.1 Global Market estimates and forecast from lithium Ion Battery, 2014 – 2024
4.2.2 Global Market revenue from lithium Ion battery, by region, 2014 – 2024
4.3 Lithium sulphur battery
4.3.1 Global Market estimates and forecast from lithium sulphur battery, 2014 – 2024
4.3.2 Global Market revenue from lithium sulphur battery, by region, 2014 – 2024
4.4 Supercapacitor battery
4.4.1 Global Market estimates and forecast from supercapacitor battery, 2014 – 2024
4.4.2 Global Market revenue from supercapacitors, by region, 2014 – 2024
4.5 Lead Acid battery
4.5.1 Global Market estimates and forecast from lead acid, 2014 – 2024
4.5.2 Global Market revenue from lead acid, by region, 2014 – 2024
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