Consumer Electronics and Electric Vehicles Driving Demand For Graphene: Report

- Advertisement -

Asia-Pacific has been the second-largest revenue contributor in the graphene battery market and is expected to see considerable growth

The global graphene battery market size was valued at USD 48.8 Million in 2019. It, as per a report by Valuates Reports, is projected to reach USD 398.6 Million by 2027. The forecast represents CAGR of 31.2 per cent during the forecast period.

“Europe is expected to hold the largest Graphene battery market share during the forecast period. This dominance of the European region is attributed to the presence of major graphene manufacturing companies in the region,” read the report.

- Advertisement -

It continued ,”Asia-Pacific has been the second-largest revenue contributor in the graphene battery market and is expected to see considerable growth during the forecast period.”

Rise in electric vehicles and portable electronics

The global demand for graphene batteries is driven by a rise in electric vehicles in the automotive sector and portable electronics, such as cell phones, laptops, tablets, and portable speakers. Thus, the growing adoption of graphene in the automotive sector is expected to increase the graphene battery market size.

“Major factors driving the growth of graphene battery market size are, increasing demand in consumer electronics and automotive industries, continuous R&D and features such as rapid charging power, improved charge cycles, high-temperature performance, and extended charge holding time,” read the report.

The rapid growth of the Asia Pacific region is due to increased CO2 emission regulations and a growing understanding of non-conventional energy resources. For example, by accelerating electric cars’ production, the Japanese government is targeting a 25 per cent reduction in CO2 emissions by 2020 and 50 per cent by 2050. The energy storage market requires graphene-based batteries with ultra-large capacity and rapid charge-and discharge capacity to achieve this.

The graphene battery’s longer shelf life also serves as a catalyst for the graphene battery market size growth. However, high graphene battery manufacturing costs and prohibitive mass production of graphene batteries could hamper the market growth.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

“ST SiC Optimises The Performance Of EV Applications”

0
STMicroelectronics plans to introduce Silicon Carbide (SiC) and Gallium Nitride (GaN) for the electric vehicle ecosystem in India. In an interview with Francesco Muggeri...

Electric Construction Machines Forecast $126 Billion Market Growth

0
IDTechEx's report on electric construction machines aims to boost industry growth, forecasting a US$126 billion market by 2044 with ongoing advancements in technologies and...

Buzz

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Important Sectors

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Budget Leaves EV Sector Hanging, FAME III Pending

0
A source familiar with the matter mentioned that the third edition of the FAME scheme is currently being developed, though it has yet to...

Bosch To Acquire Johnson Controls, Hitachi’s HVAC Unit For $8B

0
The deal encompasses 16 manufacturing facilities and 12 engineering sites across over 30 countries. Bosch intends to acquire the global HVAC solutions business for residential...

Manufacturing

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

India’s Roadmap To Becoming A Global Leader In Electronic Manufacturing: Policies, Progress, And Prospects

0
India's electronic manufacturing sector is poised for significant growth in the coming years, driven by ambitious government initiatives and strategic economic policies. Currently employing...
Mother-board-electronic-components

MeitY Announces $350 Billion PLI Plan To Boost Electronics Sub-Assemblies

0
MeitY announces allocation of $350 billion for a new PLI scheme, aiming to make India a global hub for electronics components and boost exports...