PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226483
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226483
Global Nanowire Battery Market is valued at approximately USD 53 million in 2021 and is anticipated to grow with a healthy growth rate of more than 35.7% over the forecast period 2022-2029. A nanowire battery is an advanced version of a lithium-ion battery, in which the surface area of one or both electrodes increases by using nanowires. These batteries are considered as an ideal substitute for lithium-ion batteries, which are used for consumer electronics and electric vehicles. These wires are capable to expand four times their original size when charged with no fracturing. Accordingly, the surge in demand for batteries with high charge retention capacity, the exponential growth of the consumer electronics industry, and the rising demand for advanced medical applications and devices are the key factors that are stipulating the market demand across the globe.
The rising demand for electric vehicles plays a significant role that is bolstering the adoption of nanowire batteries. According to the India Brand Equity Foundation (IBEF), in 2021, it was estimated that the sales of electric vehicles (EVs) get doubled in 2021 compared to 2020 and witnessed a new record of 6.6 million electric vehicle sales. Similarly, as per Statista, in Brazil, the sales of electric vehicles during 2021 accounted for around 7,272 units, which is projected to reach over 17,860 units by 2027. Thus, the rising application of nanowire batteries in electric vehicles is creating various growth prospects in the global market. Moreover, growing spendings in research and development activities by automotive companies, as well as increasing need for high-performance batteries in electric grid storage applications are presenting various lucrative opportunities over the forecasting years. However, the high presence of substitute battery technologies and high volume change of silicon nanowires during charge and discharge cycles are challenging factors for the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Nanowire Battery Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to rising innovations and technological advancements. Whereas, Asia-Pacific is anticipated to emerge as the fastest-growing market region during the forecast period 2019- 2026. Factors such as rise demand for batteries with high charge retention capacity enhance battery technology for electric mobility would create lucrative growth opportunities for the Asia-Pacific region during the forecast period of 2019-2026.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable