Portland, April 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global graphene battery industry was pegged at $48.8 million in 2019, and is expected to reach $398.6 million by 2027, growing at a CAGR of 31.2% from 2020 to 2027. The report offers a detailed analysis of the drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Rise in sales of electric vehicles and thriving portable electronics market have propelled the growth of the global graphene battery market. However, lack of awareness of graphene technology and market in-commercialization process impede the market growth. On the contrary, increase in government investments in R&D is expected to offer multiple opportunities in the near future.
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The global graphene battery market is analyzed by battery type, application, and region. By battery type, the market is fragmented into Li-ion batteries, Li-Sulfur batteries, super capacitors, and lead-acid batteries segments. The Li-ion battery segment dominated the market in 2019, accounting for more than two-thirds of the total market share. The segment is anticipated to rule throughout 2027. On the other hand, the supercapacitors segment is anticipated to portray the fastest CAGR of 35.2% from 2020 to 2027.
Based on application, the global market is categorized into automotive, electronics, energy, aerospace & defense, industrial robotics, and healthcare. The automotive segment dominated the global market in 2019, accounting for nearly half of the market. The segment would maintain its dominant position throughout the forecast period. In addition, the segment is anticipated to register the highest CAGR of 33.1% during the forecast period.
Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The market across Europe held the largest share in 2019, accounting for more than one-third of the market. Furthermore, the region is expected to dominate the market throughout the study period. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 34.0% in between 2020 to 2027.
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Major market players in the report include Cambridge Nanosystems Ltd., Graphenano S.L., GrapheneNanoChemplc, Graphenea S.A., NanoXplore Inc., Cabot Corporation, Real Graphene USA, Vorbeck Materials Corp., XG Sciences, Inc., and G6 Materials Corp.
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