Global Nanowire Battery Market Size To Grow At A CAGR Of 35% In The Forecast Period Of 2023-2028
The ‘Global Nanowire Battery Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global nanowire battery market, assessing the market on the basis of its segments like components, materials, industry, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models
Nanowire Battery Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 35%
|Market Size in 2020||USD 50 million|
|Growth Rate CAGR||CAGR of 35%|
|Major Players||Oned Material, Sila Nanotechnologies Inc., Amprius Technologies, and others.|
The global nanowire battery market is expected to register growth during the forecast period on account of the surging requirement to enhance the performance and efficiency of batteries.
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There is a rise in the usage of remote controllers, TVs, laptops, and notebooks. The growing demand for batteries with high charge retention capacity and the rapid growth in the consumer electronics industry are likely to drive the market growth of nanowire batteries across the globe.
An upsurge in the expenditure on research and development activities by various automotive manufacturers is likely to positively influence the market growth of nanowire batteries. The surging demand for advanced medical devices as well as applications has led to the innovation of advanced medical products that employ nanowire batteries to save energy.
The rapid growth in industrialisation along with the growing demand for longer and better battery lifespans with faster charging is expected to enhance the demand for the nanowire battery market in the current battery ecosystem. However, the presence of alternative battery technologies, and various operational obligations like conducting pilot and safety tests, are expected to obstruct the market growth of nanowire batteries.
Nanowire Battery Industry Definition and Major Segments
A nanowire battery employs nanowires across its electrodes to enhance the overall surface area. By utilising nanowires which have diameters of 10 or less nanometres and replacing conventional graphite, the capacity of the battery can be increased substantially.
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Based on component, the market is segmented into:
- Common Cathode Materials
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Lithium Nickel Manganese Cobalt
- Lithium Nickel Cobalt Aluminium
- Common Anode Materials
By material, the market is classified into:
- Transition Metal Oxides
On the basis of industry, the market is categorised into:
- Consumer Electronics
- Digital Cameras
- Battery Electric Vehicles (BEV)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Power Storage
- Medical Devices
Based on region, the market is divided into:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Nanowire Battery Market Trends
Geographically, the Asia Pacific region is anticipated to gain momentum over the coming years in the nanowire battery market growth on account of the growing demand for nanowire batteries across the consumer electronics and automotive industries. The surging demand for wearable devices and smartphones in countries like South Korea, China, and Japan is likely to propel the market growth of nanowire batteries in the Asia Pacific region.
China is expected to hold a significant share in the market growth of nanowire batteries on account of the increasing awareness of clean energy and rapid growth in the electric vehicle industry in the country. Moreover, industrialisation and the growing automobile industry among countries like Japan, China, and India are further driving the market growth of nanowire batteries across the region.
Meanwhile, the North American region is anticipated to drive the nanowire battery market growth on account of the growing significance of nanotechnology along with the surging demand to preserve energy across the region. The presence of key market players like Sila Nanotechnologies Inc. and the growing technological advancements, especially in the United States, are likely to aid the market growth in North America.
Key Market Players
The major players in the global nanowire battery market report are :
- Oned Material
- Sila Nanotechnologies Inc.
- Amprius Technologies
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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