Market Size – USD 55.6 Million in 2019, Market Growth – at a CAGR of 21.5%, Market Trends –Growing demand for portable, long-lasting batteries in defense sector
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 increasing adoption of graphene batteries in consumer electronics products. Graphene-based batteries have higher energy density than graphite-based batteries, and better thermal management, faster charging time, and offer enhanced safety. Graphene-based batteries enable increased charge storage capacity in a smaller size, resulting in rising use of increasingly more compact batteries being manufactured and used in the production of more lightweight consumer electronic products and slimmer smart devices
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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 restrictions have severely affected sales of electric vehicles. Also, mass layoffs have resulted in decreased consumer spending, and plummet in demand for consumer electronic products, especially those under the premium segment. All these factors have resulted in a decline in demand for energy-storage units as well as other related products.
Further key findings in the report
- Graphene electrodes are considered as the ideal material for producing supercapacitors, which is expected to drive increasing preference for batteries based on this technology. Graphene-based supercapacitors are safer, have lower ownership cost, and provide better performance than Li-ion batteries.
- Application of graphene-based batteries in the industrial sector has been increasing substantially owing to higher energy storage, high energy density, longer battery life, and faster charging times, which are crucial to ensure optimal performance of energy-intensive tasks in industries.
- Graphene in batteries & supercapacitors market revenue in Europe contributed significantly to growth of global market revenue in 2019, owing to robust presence of leading graphene producers in countries in the region. Also, growing demand for electric vehicles in countries in the region continues to drive overall market growth.
- 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.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/graphene-in-batteries-and-supercapacitors-market
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)
- Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
- Consumer Electronics
- Aerospace & Defense
- Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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