Extensive analysis by product assists in understanding the various types of batteries used in different industries
Portland, OR -- (SBWIRE) -- 06/01/2018 -- The Global Graphene Battery Market size is projected to reach $115 million by 2022, growing at a CAGR of 38.4% during the forecast period (2016-2022). Graphene has the potential to be widely used in the field of physics, chemistry, information, energy, and device manufacturing.
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The graphene battery market is driven by the benefits of quick charging capacity, increased charge cycles, effectiveness in high temperatures, and extended duration to hold charge. The rising number of prospective application areas for graphene batteries, coupled with their increasing adoption in automotive industry, is expected to boost the market growth. However, lack of awareness about the technological potential and high cost of graphene electrode material are the limitations that would restrict the market growth.
Presently, Europe dominates the market is terms of graphene production, as majority of graphene material suppliers are located in this region. Europe would account for majority of market revenue in 2016, and is expected to maintain its dominance till 2020. Asia-Pacific would surpass the European market by 2021 to emerge as the market leader. This would be attributable to rise in sales of electric vehicles, and growth of aerospace market, which includes UAVs, USV, and small satellites such as Cubesat and Nanosat in the region.
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The leading market players in the graphene battery market focus on expanding their business operations in fast-growing emerging countries. The companies that operate in the graphene battery market have consistently introduced innovative solutions to enhance their product portfolio.
Product launch and partnerships have been observed as the two prominent growth strategies adopted by the key market players. The major players profiled in this report include Graphenano s.l, SiNode Systems, Inc., Graphene NanoChem PLC, Angstron Materials Inc., XG Sciences, Inc, Vorbeck Materials, Graphene 3D Lab Inc., NanoXplore Inc., Graphene Batteries AS, and Cambridge Nanosystems Ltd.
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