The graphene battery market size is expected to grow from US$ 115.8 million in 2022 to US$ 796.2 million by 2030; it is estimated to grow at a CAGR of 27.2% from 2022 to 2030.
The graphene battery market report is based on various sources of data and methods of analysis, such as historical trends, surveys, company profiling, and information from various government websites and organizations. Advancements in graphene battery technology are among the graphene battery market trends.
Analyst Perspective:
Graphene can enhance battery attributes such as energy density and form in several ways. Batteries such as Li-ion batteries can be enhanced by introducing graphene to the battery’s anode, which helps to achieve morphological optimization and performance. The graphene battery market size is likely to surge by 2030 owing to its demand from various end-user industries such as aerospace and defense, automotive, industrial robotics, electronics, energy, and others.
The rise in government focus on the production and use of electric vehicles generates the demand for sustainable battery solutions, which fosters the graphene battery market. For instance, the European Commission has taken several initiatives to develop the automotive industry in the region. Further, the national regulatory bodies are taking numerous initiatives to support the development of the automotive industry in the region. For instance, the CARS 2020 Action Plan, GEAR 2030, and Horizon 2020 are a few major European government initiatives augmenting vehicle production. The Horizon 2020 Plan focuses on providing funds for research & development (R&D) activities in the automotive industry by launching programs such as the European Green Vehicles Initiative for smart mobility, road transport, and logistics. In March 2022, Ford planned to introduce three new electric passenger vehicles and four new electric commercial vehicles in Europe by 2024 and plans to sell more than 600,000 electric vehicles in the region by 2026. Therefore, the presence of a robust automotive industry and the promotion of the production of electric vehicles helps boost the demand for sustainable battery solutions, which further drives the graphene battery market.
Market Overview:
Graphene is also recognized as a wonder material due to the beneficial attributes it holds. It is a sheet of carbon atoms bound together in a honeycomb lattice pattern. It is a strong conductor of electrical and thermal energy, tremendously lightweight, chemically inert, and flexible with a large surface area. It is also recognized as eco-friendly and sustainable, with unlimited possibilities for various applications.
In the field of batteries, conventional battery electrode materials are notably improved when enhanced with graphene. A graphene battery is light, durable, and suitable for high-capacity energy storage, as well as has faster charging times. It also extends the battery’s life, which is negatively linked to the amount of carbon that is coated on the material or added to electrodes to achieve conductivity, and graphene augments conductivity without demanding the amounts of carbon that are used in conventional batteries. Thus, such benefits of graphene generate its demand in various industry verticals which further augments the graphene battery market growth.
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Graphene Battery Market: Strategic Insights
Market Size Value in US$ 115.8 million in 2022 Market Size Value by US$ 796.2 million by 2030 Growth rate CAGR of 27.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Graphene Battery Market: Strategic Insights
| Market Size Value in | US$ 115.8 million in 2022 |
| Market Size Value by | US$ 796.2 million by 2030 |
| Growth rate | CAGR of 27.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Growing Applications of Drones Across Different Industries to Drive Growth of Graphene Battery Market
Today, the drone industry is considered to be one of the fastest-growing industries. Drones are used due to the growing need for safe, cost-effective solutions for data collection, mapping, and surveying. They are widely used to perform increasingly complex tasks such as data collection, mapping, and surveying under extreme environments where manual surveying techniques are risky and not possible.
Various industry players are adapting drone technologies in construction, photography, agriculture, and other industries. Drones help with aerial data in these industries, which helps to shorten the time taken by manual surveying. It can simultaneously collect and provide critical information for a variety of fields, including agricultural fields, construction sites, building inspections, mining inspections, and more. Surveillance by these drones helps with better analysis of the situations to make certain decisions that are beneficial to increase productivity. For example, in agriculture, surveillance of drones in agricultural fields helps detect insect and pest situations that can be treated and prevented with early drone analysis. Thus, to perform better, these drones generate the need for effective battery solutions. The graphene battery has extraordinary mechanical, thermal, and electrical properties. Its properties of being very conductive and having a high surface area lend it to improving battery functions. Such benefits of using graphene in drone battery solutions are driving the graphene battery market in the drone industry.
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Segmental Analysis:
The “graphene battery market analysis” has been carried out by considering the following segments: product type and industry vertical. Based on product type, the graphene battery market is segmented into li-ion battery, li-Sulphur battery, supercapacitor, and lead-acid battery. Based on industry vertical, the market is segmented into aerospace and defense, automotive, industrial robotics, electronics, energy, and others.
The scope of the graphene battery market report is primarily divided into North America (the US, Canada, and Mexico), Europe (Russia, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
North America holds the largest graphene battery market share in 2022, and Asia Pacific is expected to hold the highest CAGR in the forecast period 2023-2030. North America is a technologically advanced region. The region is home to the majority of the key players operating in the market, which is one of the major reasons driving the North America graphene battery market.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Regional Analysis:
The North America region dominated the graphene battery market share in 2022. The North American graphene battery market is comprised of the US, Canada, and Mexico. The region is considered to be a hub of technological development.
The region's government is investing to boost its manufacturing industry further. In January 2021, the US President announced the plan to strengthen the US manufacturing sector under the ‘Made in America’ initiative, which focused on making technologically advanced and automated manufacturing sectors. In September 2022, the President’s economic plan announced the aims to boost the manufacturing of electric vehicles. The target has been set for 50% electric vehicle sales share in 2030 out of the total vehicles sold. To meet the target, companies such as Honda, Toyota, General Motors, Ford Motor Company, and Panasonic have announced investments in manufacturing in North Carolina, Missouri, Michigan, Kansas, Ohio, and elsewhere. Such initiatives by the government and rising investments in the manufacturing of electric vehicles generate the demand for graphene battery solutions. The graphene battery's efficient capability that enables faster charging times contributes to its demand. Thus, the government focuses on boosting electric vehicle production to foster the graphene battery market in North America.
The rise in disposable income of the citizens in the region is one of the major factors fueling the demand for the portable electronics market. Power banks, smartphones, iPads, and others are some of the portable electronics that generate the demand for graphene batteries that promise lightning-fast device charging and foster graphene battery market growth.
Key Player Analysis:
NanoGraf Corporation; Nanotech Energy; Cabot Corporation.; Graphene Manufacturing Group Ltd.; Global Graphene Group; Zentek Ltd.; Hybrid Kinetic Group; SAMSUNG; Huawei Device Co., Ltd.; and Log9 Materials are among the prominent players profiled in the graphene battery market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the market. A few recent key graphene battery market developments are listed below:
- In June 2022, Appear Inc. announced the launch of its high-performance, fast-charge, longer-lasting battery packs for electric vehicles. Appear's Graphene battery packs can be fully charged in less than 60 minutes. Appear's latest battery cells offer higher capacity, increased safety, and an industry-leading 3C fast charge capability. Graphene Li-Ion batteries are safer, offer fast charge (up to 3C), and have a longer cycle life (1000 cycles) than traditional Li-Ion batteries. The distinctive batteries also have higher discharge capacity (up to 15C), which enables bikes to have rapid acceleration, steep climb/higher torque, and race mode in sport bikes.
- In December 2023, Florida-based battery cell manufacturer Nanotech Energy confirmed a pioneering new partnership with Rockwell Automation to empower Nanotech Energy’s new production plant in Chico, CA, to become one of the most advanced in the world. With final testing being completed at Nanotech’s new 50,000ft2 Chico 2 manufacturing facility, the introduction of Rockwell technology delivered a series of measurable efficiencies. It brought further robustness to a manufacturing process already shown to be delivering exceptional results.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1.FGV Cambridge Nanosystems Ltd.
2.Graphene 3D Lab Inc.
3.Graphene Batteries AS
4.Graphenea Inc.
5.Grupo Graphenano
6.NanoGraf Corporation
7.Nanotek Instruments
8.NanoXplore Inc.
9.Vorbeck Materials
10.XGSciences
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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