PUBLISHER: Grand View Research | PRODUCT CODE: 1474973
PUBLISHER: Grand View Research | PRODUCT CODE: 1474973
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.