Graphene Battery Market Size To Reach $848.27 Million By 2030

Graphene Battery Market Growth & Trends

The global graphene battery market size is anticipated to reach USD 848.27 million by 2030, growing at a CAGR of 26.3% during the forecast period, according to a new report by Grand View Research, Inc. Advancements in the electric vehicle industry and the ever-growing demand for high-performance electronics is expected to augment market growth.

Graphene battery technology is still in its early stages of development. Funding from universities, research institutions, and private companies is accelerating innovation and is expected to lead breakthroughs that pave the way for mass production and commercialization of graphene batteries in the U.S.

Companies are increasingly focusing on product launches in order to increase their foothold in the market. For instance, in February 2024, Ipower Batteries, an India-based battery manufacturer launched graphene series lead-acid batteries. The new battery will contribute to the growth of the EV industry in India and shall be used as an alternative for lithium batteries.

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Graphene Battery Market Report Highlights

• Based on type, lithium-ion graphene battery emerged as the largest segment with a revenue share of about 89% in 2023 and is expected to witness robust growth over forecast period. This technology combines the established strengths of Lithium-ion batteries with the remarkable properties of graphene.

• Based on application, the automotive segment dominated the global market, accounting for a revenue share of more than 56% in 2023. The quest for longer driving ranges, faster charging times, and lighter weight vehicles has made lithium-ion graphene batteries prominence in the competitive market.

• Asia Pacific dominated the market for graphene battery in 2023, owing to the factors such as the rising demand of electric vehicles production in countries such as China, Japan, South Korea, and India.

• In December 2023, Nanotech Energy announced to inaugurate its 150 MW graphene battery production plant by early 2024 in California, U.S. The strategy shall help company to increase its market share in graphene battery market. 

Graphene Battery Market Segmentation

Grand View Research has segmented the global graphene battery market based on type, application, and region:

Graphene Battery Type Outlook (Revenue, USD Million, 2018 - 2030)

• Lithium-ion Graphene Battery

• Graphene Supercapacitor

• Lithium Sulphur Graphene Battery

• Others

Graphene Battery Application Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Consumer Electronics

• Power

• Industrial Robotics

• Aerospace & Defense

• Healthcare

Graphene Battery Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Graphene Battery Market

• Samsung SDI

• Huawei Technologies Co., Ltd.

• Log 9 Materials Scientific Private Limited

• Cabot Corporation

• Grabat Graphenano Energy

• Nanotech Energy

• Nanotek Instruments, Inc.

• XG Sciences, Inc.

• ZEN Graphene Solutions Ltd.

• Graphene NanoChem

• Global Graphene Group

• Vorbeck Materials Corp.

• Graphenea Group

• Hybrid Kinetic Group Ltd.

• Targray Group