According to the latest report released by the international market research agency Markets and Markets, the global graphene battery market size is expected to reach US $ 609 million by 2030, with a compound annual growth rate of 23.9% during this period.
In the short term, lithium ion graphene batteries will account for the largest market share in this market by 2021. Due to their light weight, durability, suitable for large-capacity energy storage, and shortened charging time, graphene lithium-ion batteries are popular in end-use industries such as consumer electronics, automobiles, industry, and power. Therefore, compared with other batteries, the lithium-ion graphene battery market is expected to have the highest growth rate.
According to the end-use industry, it is estimated that by 2021, the automotive sector will occupy the largest market share. The demand for high power and high energy density has led to the demand for reliable and safe batteries in industries such as automobiles and consumer electronics, which ultimately drives the growth of the graphene battery market, especially in the electric vehicle market. Moreover, due to environmental concerns and awareness of clean and sustainable fuels, the demand for electric vehicles has increased, and the automotive sector is expected to have the highest growth rate.
In terms of regional markets, the Asia-Pacific region will become the largest regional market by 2021. China, Japan and South Korea are the main countries driving the demand for graphene batteries in the region. In China, Japan and South Korea, electric vehicles use graphene batteries for consumer electronics. It is estimated that by 2021, Europe will have the second largest share of the global graphene battery market.