Dual Carbon Battery Market:
Growth opportunities in the dual carbon battery market look promising over the next six years. This is mainly due to the increasing developments in the electronics sector, the expansion in the number of charging infrastructure, along with the growing use of electric vehicles.
Dual Carbon Battery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Leading players, primarily in the automotive sector, are becoming apprehensive about the constraints of lithium-ion batteries, which is stimulating them to choose dual carbon batteries, thereby driving the growth of the global dual carbon battery market. Also, the growing expansions in the electronics sector, along with surging usage of electric vehicles, will further boost the dual carbon battery market size. The Ministry for Trade and Industry of Singapore stated that the electronics manufacturing sector of the country is anticipated to produce a total of 2,100 new jobs by 2020. This procedure will eventually result in growth in manufacturing devices, thereby strengthening the dual carbon battery market share.
Moreover, the accelerating consumer demand towards various car models and the surging number of charging infrastructure have promoted the market demand for EVs throughout the world. This will boost the demand for batteries for charging, thus bolstering the market growth.
Type Segment Drivers
Based on the type, secondary batteries are anticipated to witness a higher CAGR over the forecast period as they are rechargeable batteries and provide several advantages like high profitability over the long term. Also, these batteries are considered to be the best solution for applications, including motor drives, traction, and PDA’s. These factors together will fuel the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is projected to lead the market over the forecast period. The growing electrification activities, majorly in Asian countries like China and India, is a prominent driver responsible for the market growth. The dual carbon battery has not penetrated the market at a high level. Countries such as India lack a firm grid infrastructure, leading to power cuts and blackouts frequently, mostly in rural areas. Therefore, due to inadequate infrastructure, massive demand for steady power, and the need for power backup solutions will further raise the market share. Power Japan Plus, In 2018, launched the idea of dual carbon batteries that can be charged twenty times faster and last longer than high-end lithium-ion batteries and offer enormous benefits to be used in numerous applications.
Dual Carbon Battery Market’s leading Manufacturers:
- Johnson Controls
- Panasonic Corporation
- BYD Company Ltd.
- Denko Materials Co.
- JSR Corporation
- SAMSUNG SDI CO., LTD.
- Amperex Technology Limited
- TianJin Lishen Battery Joint-Stock CO., LTD.
- Loxus
- LG Chem.
Dual Carbon Battery Market Segmentation:
Segmentation by Type:
- Primary
- Secondary
Segmentation by Application:
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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