The Global Market for Nano-Enabled Batteries is Projected to Reach US$8.9 Billion by 2022

Rising Demand for Eco-Friendly Battery Powered Vehicles to Drive the Global Market for Nano-Enabled Batteries, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Nano-Enabled Batteries market. The global market for Nano-Enabled Batteries is projected to reach US$8.9 billion by 2022, driven by the growing interest in the value of nanotechnology-based thin-film lithium-ion batteries in powering electric vehicles.

As efficient energy storage devices, batteries provide the much required portable energy for a range of electronic devices used on the go, right from mobile devices such as laptops, tablet PCs, smartphones, and cordless power tools to electric and hybrid vehicles that rely heavily on battery power. There is growing R&D interest in battery technologies and chemistries. Battery manufacturers are embracing advanced technologies such as nanotechnology in order to bring new capabilities and features into their products. Developments in the nanotechnology promises to address critical battery requirements such as power density, stability, charge/discharge efficiency, self-discharge rate, durability and safety. Nanotechnology-enhanced electrode material is capable of enhancing power density and stability of batteries. Nano-engineering also addresses many of the challenges of existing battery technologies such as re-charging time and battery memory.

Designed to operate in diverse temperature ranges, and offer sustainable power for a longer time, and recharge in lesser time than conventional batteries, nano-enabled batteries are already finding use in portable power tools, laptops/notebooks and electric vehicles. While large-format nano-enabled batteries are suitable for high-end applications such as in electric vehicles, fast charging customized nano safe battery are used for laptops, and cordless power tools. The growth in the market will be driven by growing demand for electric vehicle segment. The rise of electric vehicles as a disruptive technology in the world automobile industry has the potential to amplify growth opportunities for nano-enabled batteries. The commercial success of electric vehicles critically hinges onto the ability to develop powerful batteries that help increase the driving range per charge and reduce the time taken for charging. Automakers seeking high-energy density and eco-friendly batteries are increasingly relying on nano-enabled batteries to power their electric vehicles such as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), heavy-duty hybrid electric vehicles (HHEVs), and light electric vehicles (LEVs). The fact that nano-enabled batteries provide safer and sustainable power and bring value for money to vehicle owners also makes them the most preferred battery technology.

As stated by the new market research report on Nano-Enabled Batteries, Large Format Modules represent the largest and the fastest growing product category accounting for a large portion of revenues and is projected to grow at a CAGR of 21.3% over the analysis period.  

Major players in the market include 3M Company, A123 Systems LLC, Altair Nanotechnologies Inc., Evonik Industries AG, Front Edge Technology, and mPhase Technologies, Inc. among others.

The research report titled “Nano-Enabled Batteries: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for the global market by key segments - Large Format Modules, and Customized Batteries (Customized Batteries for Wireless Power Tools and Customized Batteries for Laptops).

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