The nano battery market is anticipated to witness considerable growth during the forecast period. This is attributed to factors such as the rise in demand for nano batteries from industrial applications such as consumer electronics, medical devices, portable power tools, automotive, and others. However, high costs and difficulties associated with the manufacturing of nano batteries are restraining the growth of the market globally. Conversely, an increase in investment and R&D activities toward nanomaterials for their use in the production of batteries is anticipated to provide potential growth opportunities in the upcoming years.
A nano battery is a nanoscale energy storage device
manufactured using nanomaterials including electrodes, electrolytes, and
others. Nano batteries are classified on the basis of technology such as nano
phosphate, nanopore, and lithium-ion technology. Nano battery offers various
benefits over conventional batteries such as higher power density, shorter
charging time, and longer shelf life.
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Significant development of the end-use industries such as
consumer electronics, medical devices, portable power tools, automotive, and
others, is fueling the growth of the nano battery market during the forecast
period. In addition, an increase in demand for nano batteries from renewable
energy and grid energy storage applications is further anticipated to propel
the growth of the market, globally. However, high costs and difficulties
associated with manufacturing nano batteries are the key factors hampering the
growth of the global nano battery market in the upcoming years.
Depending on the technology, the lithium-ion segment held
the highest nano battery market share of about 47.2% in 2020 and is expected to
maintain its dominance during the nano battery market forecast period. This is
owing to an increase in demand for lithium-ion batteries from various
applications including consumer electronics, power tools, aerospace &
defense, renewable & grid energy storage, automotive, and others. In
addition, the advantages of using nanotechnology used in the production of
lithium-ion batteries such as an increase in battery capacity and a decrease in
battery charging time are anticipated to propel the growth of the market during
the analyzed timeframe.
On the basis of application, the military segment accounted
for the largest market share in 2020, in terms of revenue, and is expected to
maintain its dominance during the forecast period. This growth is attributed to
the rise in the need for efficient power electronics devices due to the
increase in the digitalization of the battlefield and the reduction in the size
& weight of military equipment in the U.S.
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In addition, the rise in demand for nano batteries from
weapons, military vehicles, portable power, sensors, remote activation,
programmable power, and backup power applications, is anticipated to fuel the
growth of the market during the analyzed time frame.
The market is analyzed across four major regions, namely,
North America, Europe, Asia-Pacific, and LAMEA. North America garnered a
dominant market share in 2020 and is anticipated to maintain this trend during
the forecast period. This is attributed to numerous factors such as the
presence of a huge consumer base and the existence of key players in the
region. Moreover, the rapid growth of military, electric vehicle,s and
renewable energy in the region are anticipated to contribute toward the growth
of the nano battery market in North America.
The global nano battery market analysis covers in-depth
information about the major nano battery industry participants. The key players
operating and profiled in the report include Naxin New Energy Technology Co.,
Ltd., mPhase Technologies, Front Edge Technology, A123 Systems LLC, Altairnano,
Amprius Technologies, US Photonics Inc., California Lithium Battery, Sicona
Battery Technology, Kokam.
Other players operating in the value chain of the global
nano battery market are Asystems, Ecolocap Solutions, EnerG2, Zpower, Genesis
Nanotech, In Step Nano Power and others.
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Key Findings of The Study
- In
2020, the Li-ion segment accounted for about 47.2% of the share in the
global nano battery market and is expected to maintain its dominance till
the end of the forecast period.
- In
2020, the military segment accounted for 26.2% nano battery market share
in the year 2020 and is anticipated to grow at a rate of 18.4% in terms of
revenue, increasing its share in the global nano battery market.
- Transport
is the fastest-growing application segment in the global nano battery
market, expected to grow at a CAGR of 19.5% during 2021–2030.
- Asia-Pacific
is expected to grow at the fastest rate, registering a CAGR of 19.2%,
throughout the global nano battery market forecast period.
- In
2020, North America dominated the global nano battery market with more
than 42.3% of the share, in terms of revenue.
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