Dual Carbon Battery Market Historical Analysis, Opportunity Assessment and Potential of Industry 2023
The global Dual Carbon Battery market is estimated to expand at 5.50% CAGR during the forecast period. Dual carbon batteries are energy storage batteries that uses a form of carbon for both anode and the cathode. These batteries are 100% recyclable and are being developed to use carbon produced with organically grown cotton. These batteries can charge upto 20 times faster than lithium ion batteries. This charging can make electric vehicles more convenient for daily usage. For instance, Tesla S can be charged in 90 seconds with the help of these dual carbon batteries.
Increasing developments in the electronic sector and growing use of electric vehicles are the driving factors behind the demand for dual carbon battery market during the forecast period. Electronics being the most important sector in Asia-Pacific will drive the market for dual battery which are an integral part of any electronics device. Moreover, according to the Ministry for Trade and Industry of Singapore, the country’s electronics manufacturing sector is expected to manufacture a total of 2,100 new jobs by 2020. This initiative would eventually lead to increased number of manufacturing devices, thereby driving the market for dual carbon battery, which is an important part of electronics sector.
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The growing demand for Dual Carbon Battery is attributed to increasing number of electric vehicles across the globe, especially the US and China. Moreover, according to the Ministry for Trade and Industry of Singapore, the country’s electronics manufacturing sector is expected to manufacture a total of 2,100 new jobs by 2020. This initiative would eventually lead to increased number of manufacturing devices, thereby driving the market for dual carbon battery, which is an important part of electronics sector.
Key Players:
The key players of the global Dual Carbon Battery market are JSR Corp, Loxus, Hitachi Chemical, Lishen Tianjin, BYD, Amperex Technologies, Panasonic, LG Chem, Samsung SDI, Johnson Controls.
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Industry Segmentation
The market for Dual Carbon Battery is segmented based on application as transportation, electronics, portable power, and others.
The transportation segment dominates the market Many major players are actively participating in introducing innovative products in this battery category. For instance, in 2014, Power Japan Plus planned to commercialize its dual carbon batteries. The company also claims that the dual carbon batteries would have more density than lithium and charge 20 times faster than lithium-ion batteries.
Regional Outlook
Region wise, Asia Pacific held the largest market share of the global Dual Carbon Battery market in 2017. It is also estimated that Asia-Pacific region would also be the fastest growing market during the forecast period. Moreover, growing convergence of information, communication and entertainment is bringing a new era of consumer electronics in the region. Consumer electronics is one of the largest segments in the manufacturing industry and promises huge potential, particularly in emerging markets of Asia-Pacific. These developments in the Asia-Pacific region would drive the dual carbon battery market.
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