Global Nanotechnology-enabled Battery Market 2018-2022
About Nanotechnology-enabled Battery
Nanotechnology-enabled batteries are fabricated batteries that employ technology at the nanoscale. Owing to the nanotechnology, the batteries provide additional power from the battery and require minimum time to charge the batteries. In these batteries, the electrode is coated with nanoparticles.
Technavio’s analysts forecast the Global Nanotechnology-Enabled Battery Market to grow at a CAGR of 17.35% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global nanotechnology-enabled battery market. To calculate the market size, the report considers the revenue generated from the need for nanotechnology-enabled battery for various applications in the automotive, consumer products, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nanotechnology-enabled Battery Market 2018-2022
Technavio recognizes the following companies as the key players in the global nanotechnology-enabled battery market: A123 Systems, Altair Nanotechnologies, Front Edge Technology, Kokam, and TOSHIBA
Commenting on the report, an analyst from Technavio’s team said: “One trend gaining momentum in this market is the legislative support for battery recycling. Government legislation on battery recycling primarily aims to create environment-friendly and economically sustainable business models and ensure recycling efficiency. Different recycling methods for different battery technologies confer different benefits. For instance, end-products of lithium-ion battery recycling are cobalt and lithium concentrate, both of which can be used in industries to reduce the increasing pressure on lithium mining. Therefore, efficient recycling can also lead to ecological sustainability.”
According to the report, one driver influencing this market is the enhanced consumer spending leading to increase in demand from consumer electronics market. Urbanization and increase in the per capita earning in a family have led to an upsurge in disposable incomes globally. Consumer spending is an important economic factor as it usually reflects the overall consumer confidence in a country. Therefore, high consumer confidence points to higher levels of consumer spending in the market.
Further, the report states that one challenge affecting this market is the widening demand-supply gap of lithium. The lithium-ion battery market is facing a shortage of lithium, which is expected to continue during the forecast period as well. This is owing to the exponential demand from the EV battery sector. According to the IEA, EV stocks increased from a few hundred in 2005 to more than one million in 2015. This led to an upsurge in demand for lithium as most EVs are powered by lithium-ion batteries. This sudden increase in demand has led to a scarcity of lithium in the market.
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