USD 400.34 Million
Graphene Battery Market Size, Share, Growth Analysis, By Type(Lithium-Ion Graphene Battery, Graphene Supercapacitor, Lithium-Sulfur Graphene Battery, and Others), By End Use Industry(Automotive (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles), Consumer Electronics (Smartphones, UPS), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2302 |
Region:
Global |
Published Date: October, 2024
Pages:
221
|Tables:
67
|Figures:
70
Graphene Battery Market Insights
Global Graphene Battery Market size was valued at around USD 135.8 million in 2022 and is expected to rise from USD 167.1 million in 2023 to reach a value of USD 716 million by 2031, at a CAGR of 23.1% over the forecast period (2024–2031).
The dynamic changes in the global graphene battery industry are more or less being driven by a desire for effective energy storage solutions, higher environmental concerns, and technical breakthroughs. Graphene, owing to such special qualities as high electrical conductivity, flexibility, and lightweight nature, has emerged as a viable material for battery applications. The main driver of expansion in the market is that there is a rise in the sales of electric vehicles as graphene batteries are attractive both to manufacturers and consumers since they have a longer range for long-distance driving and faster charging periods. Growing demand for portable products, which requires small yet potent power sources, will be most predicted to increase the demand for graphene batteries. High government spending on R&D is anticipated to generate commercially viable growth opportunities and enhance the advancement of Graphene technology and its application on the market.
However, it is still plagued by numerous other problems, including an ordinary ignorance of graphene technology, and the market does not have the ability at this point to scale up presently to efficiently commercialize anything. Still, despite these problems, graphene is now finding its applications in physics and chemistry, information technology and energy, and even in device manufacturing or batteries. As the range of research and awareness expands it will find an even greater space in changing the future regarding energy storage and all those allied fields.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Lithium-ion
Fastest Growth
Lead-acid
Growth Rate
24.50% CAGR
Global Graphene Battery Market By Geography ($ Bn)
Country Share for North America (%)
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Graphene Battery Market Segmental Analysis
Global Graphene Battery Market is segmented by Type, End Use Industry, and region. Based on Type, the market is segmented into Lithium-Ion Graphene Battery, Graphene Supercapacitor, Lithium-Sulfur Graphene Battery, and Others. Based on End Use Industry, the market is segmented into Automotive (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles), Consumer Electronics (Smartphones, UPS, Laptops), Industrial (Mining Equipment, Construction Equipment), Power, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
The Lithium-ion graphene battery segment in 2023 took the graphene battery market share as high as nearly 89%. This technology is quite a breakthrough by combining exceptional properties of graphene with advantages well established with conventional lithium-ion batteries. The lithium-ion batteries benefit from graphene increased energy density, quicker charge times, and maybe even longer lifespan. Along with these advancements, lithium-ion graphene batteries are highly promising in various industries, ranging from consumer electronics to electric vehicles and renewable energy-based storage systems. In this regard, the market segment is expected to grow highly throughout the forecast years through growing demands for the right kind of high-performance batteries for further strengthening their leadership position within the market.
As per the graphene battery market analysis, the lithium sulfur graphene battery segment is expected to gain momentum at a rapid pace. This is attributed to outstanding opportunities of having far better energy density compared with conventional lithium-ion batteries. Lithium sulfur cells have a potential energy density that is several times greater compared with the normal lithium-ion cells, which means far more power can be packed into the same spatial dimension. This technology will significantly spur applications that require the energy solutions to be light and compact, such as electric vehicles and handheld devices. Given that more research and development activities concentrate on perfecting the lithium sulfur graphene battery, only a greater demand will surface at a faster rate. Different industries interested in advanced energy storage will now take note and invest in this sector.
Analysis By Application
According to the graphene battery market forecast, with a revenue share of more than 56% in 2023, the automotive industry tops the global market. Lithium-ion graphene batteries are quite well-known as swift industry thirst for lighter cars with greater driving range and shorter charging periods. Graphene presents some exceptional qualities that surpass conventional lithium-ion batteries. Graphene enhances conductivity to allow faster cycles of charging and discharging. A better driving distance per charge, which is a vital requirement for customers to accept electric vehicles, is the second benefit associated with its ability to increase energy density. Reduced weight, however, may make lighter electric vehicles possible in general, hence efficiency and extended range too. With all these benefits, graphene batteries are waiting to change the automotive sector and lead the way to a future with longer-range, more ecological, and more efficient electric cars.
Industry 4.0's improvements in the industrial robotics’ segment is leading the industry to grow at the fastest rate during the forecast period. With advancing automation and robotics to increasingly complex systems that can easily complete tricky jobs, it requires more power and greater data processing competencies. Graphene batteries fill in these increasing energy requirements as they have higher density than any other battery; with their power, graphene batteries enable robots to continue completing increasingly difficult jobs. As they supply the power efficiency robots need, graphene batteries smoothly integrate the next developments in industrial automation. As businesses continue embracing cutting-edge solutions to enhance productivity and efficiency, the graphene battery industry is predicted to experience a huge increase with the synergy between advanced battery technology and industrial robots.
Global Graphene Battery Market By Type
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Graphene Battery Market Regional Insights
The growing electric vehicle industry and growing demand for efficient energy storage are expected to propel the graphene battery industry in North America for the forecast period. For developing graphene-based anode materials of lithium-ion batteries with the objectives of fast charging, higher range, and environmentally friendly solutions, major players in the graphene and electric vehicle manufacturing industries are working together. Such a trend would increase funding for graphene battery R&D substantially and drive this trend forward. However, the context has been a challenge, and production costs for graphene have not been easy till now.
Asia-Pacific will grow with a significant CAGR of more than 26.0% from 2024 through 2031. The growing demands for electric vehicles production in countries such as China, Japan, South Korea, and India is one of the driving factors behind this growth. In the year 2023, the region accounted for approximately 83.0% of the revenue share. The governments of China, Japan, and South Korea, among others, are promoting this growth through favorable policies, increasing disposable incomes, and growing environmental concerns. The government programs advocate for environmentally friendly alternatives that include laws against air pollution and the resultant embrace of electric cars. This means high-performance batteries such as graphene are necessary to power environmentally friendly technology.
Global Graphene Battery Market By Geography
- Largest
- Fastest
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Graphene Battery Market Dynamics
Drivers
Efficiency and Performance Improved
- Graphene batteries have some better performance attributes in contrast to the conventional lithium-ion batteries, such as longer lifetimes, higher energy densities, and faster charging time. Due to these advancements, they are very promising for many applications, particularly in consumer electronics and electric vehicles. Due to this fact, the graphene battery industry is expected to rise based on the sectors focused on energy efficiency and fast charging.
Increasing Demand for Electric Vehicles
- The primary driver for graphene batteries is the global trend of electric vehicles (EVs). As governments and consumers alike are opting for 'green' transport, the demand for high mileage and faster recharging periods has increased for advanced battery technology. This attribute of graphene batteries makes them an attractive alternative for EV producers, encouraging their adoption and aiding the growth of the market as a whole.
Restraints
High Production Expenses
- High manufacture cost is one of the main problems that hinders the graphene battery market outlook. Production of graphene and its integration into a system for a battery may be expensive and very complex. This might, therefore, limit the usage of graphene batteries to some of these sectors where cost will be the major concern. The manufacturers will have to come up with ways to optimize their production processes so that they save on their expenses and make the market even more accessible.
Lack of Awareness and Commercialization
- The most significant barrier to the commercialization of graphene battery technology is the lack of awareness and understanding by potential consumers and businesses. Most businesses may be resistant to a switch from traditional battery technology or might not understand all the advantages of graphene batteries. Outreach and education are necessary to draw attention to the advantages of graphene-based solutions; hence, a lack of awareness might hinder further market penetration.
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Graphene Battery Market Competitive Landscape
The market is slightly consolidated because of a significant presence of medium- and large-sized firms. The graphene battery industry is an interactive environment with the existence of established players and innovative participants. To sustain and strengthen their market positions, key companies are applying all kinds of organic as well as inorganic growth mechanisms, which include facility expansion, new product development, R&D, mergers, acquisitions, and joint ventures.
Top Player’s Company Profiles
- Graphenano Nanotechnologies
- Nanograf Technologies
- Global Graphene Group
- XG Sciences
- Graphene 3D Lab, Inc.
- Samsung SDI
- Huawei
- Hybrid Kinetic Group Ltd.
- Vorbeck Materials
- Elcora Advanced Materials Corp.
- Nanotek Instruments, Inc.
- Graphene Batteries AS
- Nanotech Energy, Inc.
- ZEN Graphene Solutions Ltd.
Recent Developments
- In June 2021, GMG, a graphene company based in Brisbane, Australia, announced a research partnership with the University of Queensland. Graphene and aluminum-ion batteries will be developed that can reportedly charge 60% faster than lithium-ion batteries.
- In June 2021, Google partnered with Seagate to launch ML to predict HDD failures. The new hdd devices will use graphene and can store ten times more data than a normal hdd.
- In 2023, LG Chem invested KRW 7.2 billion (South Korean Won) in construction battery manufacturing in Arizona. This increases production of EV and ESS batteries in North America.
- In 2021, GMG received a grant of A$3.6 million from the Australian government to help the company develop graphene products.
Graphene Battery Key Market Trends
- Integration of Advanced Materials: The graphene battery industry appears promising in view of development through application of the latest materials to gain the maximum performance. There has been a push toward making hybrid battery technology based on incorporation of graphene and other substances, such as lithium-sulfur. What is emerging here is an entire industry increasingly prone to innovation and provision of novel forms of energy storage suited to meet the future demands in energy.
- Focus on Viable Alternatives for Energy: Environmentally friendly energy solutions are fast emerging as attention towards sustainability at a global level increase. Graphene batteries serve to support this trend by showing their favorability and efficiency in comparison to the traditionally used batteries. Sustainability is going to form the future growth of the market with businesses looking more and more at ways to create and deploy graphene-based technologies that support renewable energy efforts while lowering carbon footprints.
Graphene Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the graphene battery industry will surge high in response to increased application in consumer electronics and electric cars, increasing demand for efficient energy storage solutions, and scientific innovations. For most sectors, graphene batteries offer excellent prospects because the new attribute performance is said to enhance it in terms of increased energy density and faster charging, among others. Challenges facing its widespread usage include cost prohibitive manufacture and awareness that is almost nonexistent. Given the importance of sustainability and advanced materials, the market will shift when research and development create and advance these technologies. All things considered; graphene batteries look promising; they will unlock revolutionary energy solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 135.8 million |
| Market size value in 2031 | USD 716 million |
| Growth Rate | 23.1% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Graphene Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Graphene Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Graphene Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Graphene Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Graphene Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Graphene Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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