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Growing preference and demand for electric vehicles is a significant factor influencing growth of the market.
NEW YORK CITY, NEW YORK, USA, September 15, 2022 /EINPresswire.com / -- The global graphene in batteries & supercapacitors market is forecast to reach a market size of USD 268.2 Million by 2027, and register a significantly high revenue growth rate over the next seven years, according to the latest report by Reports and Data. Growing demand for graphene in batteries & supercapacitors can be attributed to rising demand for electric vehicles in countries across the globe. A surge in demand for high-performance, more fuel-efficient, and low-emission vehicles, coupled with stringent regulatory policies to curb vehicle emissions is driving demand for electric vehicles. Sales of electric vehicles was over two million units worldwide in 2018, representing a Y-o-Y growth of 63.0%, which has been reported as a positive sign in the endeavor to combat air pollution and other related initiatives on a global perspective. Energy storage units are indispensable for the functioning of electric vehicles, and graphene batteries are swiftly garnering traction in the electric vehicles market as they enable faster cycle times and improved electrode density. Furthermore, graphene batteries have longer charge retention property than graphite-based electrode batteries, thus increasing the battery life.
The COVID-19 impact
The COVID-19 pandemic had a severe impact on graphene in batteries & supercapacitors market. Global shutdown of the automotive industry and movement restriction have severely affected the sales of electric vehicles. Also, mass layoffs have resulted in decreased consumer spending, plummeting the demand for consumer electronic products, especially those belonging to premium segment. All these factors have resulted in a decline in demand for energy-storage units.
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Further key findings from the report suggest
•Graphene-based batteries (such as rechargeable Li-ion batteries) are lightweight, more durable, and ideal for high-capacity energy storage. Also, graphene batteries improve energy density, shorten charging duration, and offer improved battery life-span.
•Bio-supercapacitor is an emerging technology, and are designed with electrodes made of graphene layered with altered human proteins. A bio-supercapacitor holds potential as next-generation implantable devices to expedite bone growth.
•The graphene in batteries & supercapacitors market revenue in Asia Pacific contributed to largest revenue share in the global market in 2019, attributed to rising government initiatives to curb carbon-dioxide emissions, increase sales of electric vehicles, and growing awareness about non-conventional energy resources in countries such as China and Japan. Besides, rising disposable income is another factor causative of increased consumer spending on electronic products, which is also expected to drive market growth to a significant extent over the forecast period.
•Key market players include Global Graphene Group, Graphenano Nanotechnologies, Samsung SDI, Nanograf Corporation, Graphene 3D Lab Inc., Nanotek Instruments Inc., Huawei Technologies Co. Ltd., XG Sciences, Vorbeck Materials Corporation, and Graphene Batteries AS.
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For the purpose of this report, Reports and Data has segmented the global graphene in batteries & supercapacitors market on the basis of type, industry vertical, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
•Batteries
•Supercapacitors
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
•Consumer Electronics
•Industrial
•Automotive
•Aerospace & Defense
•Power
•Medical
•Others
Regional Outlook (Revenue, USD Million; 2017-2027)
•North America
oU.S
oCanada
•Europe
oGermany
oUK
oFrance
oBENELUX
oRest of Europe
•Asia Pacific
oChina
oJapan
oSouth Korea
oRest of APAC
•MEA
oSaudi Arabia
oUAE
oRest of MEA
•Latin America
oBrazil
oRest of LATAM
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