Global Dual Carbon Battery Market - Overview
The Global
Dual Carbon Battery Market is set to grow at a steady CAGR of 5.50%
during 2018 to 2023, asserts Market Research Future (MRFR) in its latest
report. Dual carbon batteries for their superior performance have gained
significant traction. These batteries are likely to replace lithium ion
batteries in the forthcoming years. Electric vehicles remain a prime contender
for dual carbon usage. Automotive sector is expected to remain a major revenue
pocket. Sales of EVs have continued to in recent years and the trend is likely
to continue throughout the forecast period.
There are
several advantages of dual carbon batteries as compared to other battery
technologies available, which is driving their popularity in the end-use
vertical such as EVs and electronics. Dual carbon batteries do not require
cooling, they are energy-efficient and advanced. These attributes of dual
carbon batteries are attracting the automotive sector. Automobile manufacturers
are striving to make vehicles energy efficient and sustainable where dual
carbon batteries can play an important role.
Technological
advanced in electronics and rising popularity of EVs are among the key growth
enablers for the dual carbon battery market. The electronics sector has witnessed
a tremendous boom in the region such as APAC and MEA. APAC led by China has achieved a remarkable
feat in electronics manufacturing. Countries such as China, Taiwan and Singapore
make a considerable contribution to the overall electronic products manufactured
globally. As per the data released by the Ministry of Trade and Industry of
Singapore, the electronics manufacturing industry in the country is likely to create
close 2,100 new jobs by 2020. Such factors indicate towards a pacey growth of
the electronic manufacturing sector in the region.
The growing
consumer electronics industry is expected to play an important role in
propelling the global dual carbon battery market during the review period. Additionally,
portability has become a must-have feature in modern devices, which make
batteries a critical component. Demand for long-lasting batteries with fast
recharging is on the rise, which is making a positive influence on the global dual
carbon battery.
Segmental Overview
MRFR’s report
offer a detailed segmental analysis of the global dual carbon battery market
based on application, types and region.
By
application, the market has been segmented into portable power, electronics,
transportation and others.
By Type, the
market has been segmented into rechargeable battery and disposable battery. The
former is expected to spearhead the later during the forecast period. This is
primarily owing to the higher preference for rechargeable batteries.
Rechargeable batteries are more feasible as compared to disposable batteries.
Moreover, use of rechargeable battery is promoted owing to the rising concerns
over electronic waste.
APAC Dual Carbon Battery Market to Register the
Highest CAGR during the Forecast Period
The regions
covered in the report include Europe, Asia Pacific (APAC), North America,
Africa, the Middle East and South America. Of these, the APAC dual carbon
battery market is expected to exhibit the fastest CAGR during the forecast
period. APAC is one of the key contributors to the global carbon battery market
in terms of revenue. In 2017, APAC accounted for the largest market share. Fast convergence of entertainment,
communication and information has brewed a new era of consumer electronics in
APAC. This is an important factor that drives the market growth in APAC. In
addition, growth of manufacturing sector in the region has created new avenues.
Competitive Analysis
Some of the
notable companies operating in the global dual carbon battery market including
Loxus, Lishen Tianjin, Amperex Technologies, LG Chem, Johnson Controls, JSR
Corp, Panasonic, Samsung SDI, Hitachi Chemical and BYD.
Related
Reports: https://user.younews.in/news/distributed-energy-resource-management-system-market-greater-growth-rate-during-forecast-2020-2023/
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