Nano Battery Market

Nano Battery Market Size (2023-2028):

The Global Nano Battery Market size was valued at US$ 6.23 billion in 2022 and is anticipated to reach US$ 17.55 billion by 2028 and increase at a CAGR of 19.10% during the forecast period 2023 and 2028. 

The rise in demand for energy storage systems in various applications like as electronic gadgets, electric vehicles, military equipment, and others is propelling the global nano battery market forward. Furthermore, using nanomaterials to separate the liquids in the battery from the electrodes extends the battery's shelf life, which is expected to drive demand for nanobatteries from 2022 - 2027. Nanobatteries are batteries made using nanoscale materials and components with a size of fewer than 100 nanometers. Nano batteries are used in a variety of portable electronic devices, including phones, digital cameras, computers, electric cars, military equipment, and others, due to their small size and weight. Li-ion technology, nanopore technology, and nano-phosphate technology are examples of battery technologies used in the manufacture of nano batteries.

Market Drivers:

Nanotechnology can make a substantial contribution to energy storage systems that are more efficient. Rather than using standard batteries, nano batteries are employed in a variety of applications such as electric vehicles, industrial power backups, and laptops. A crucial issue in battery efficiency is power density, or how much power a battery can produce per pound of weight. Lithium-ion batteries have the highest power density. Lithium-ion batteries are utilized in laptops, cell phones, tablets, and electric vehicles for this reason. The development of effective energy storage systems is crucial to the implementation of renewable energy technology. Traditional energy storage systems are primarily utilized in stationary power plants; however, nanotechnology is now being applied in portable power tools as part of the Smart Grid idea.

The future of e-mobility for transportation is a nano battery that can store enough energy to allow all-electric driving with a range of several hundred kilometers.

According to a study, the use of nanotechnology in the manufacture of batteries has a massive number of advantages, including a lower risk of a battery catching fire (due to the technology's use of less flammable electrode material), a shorter time to recharge a battery, and enhanced battery power availability. This is accomplished by coating an electrode's surface with nanoparticles. This coating increases the surface area of the electrode, allowing more current to pass between the battery's chemicals and the electrode. By lowering the weight of the batteries while yet providing adequate power, nano batteries improve the efficiency of electric/hybrid vehicles. Another advantage of nano batteries is the use of nanomaterials to extend the shelf life of the battery by separating liquids from the solid electrodes while the battery is not in use. This division helps in preventing low-level discharge, which occurs in traditional batteries, and extends the battery's shelf life. Moreover, the invention and acceptance of nanotechnology by the battery industry, commercial-grade implementation of nanotechnology in Li-ion batteries, rising demand for electric vehicles, use of nano batteries in portable power tools and consumer electronics products such as laptops, cell phones, and others are all driving the growth of the nano batteries market.

Market Restraints:

The primary factors such as poor density, high manufacturing costs, high surface area, difficult manufacturing process, and others are projected to limit the growth of the global nano battery market in the upcoming years and also hinder the worldwide market growth in the approaching years. In addition, there are some more market restraints, such as increased worldwide pricing competition, a slowing global economy, and technology competition. These reasons are expected to stifle the global expansion of the nano batteries market during 2022 - 2027.

NANO BATTERY MARKET REPORT COVERAGE:

Market Segmentation:

Nano Battery Market - By Product:

• Large format modules
• Customized batteries

Based on product, customized batteries tend to hold the largest global nano batteries market share and continue to obtain their share during the forecast period. Laptops and wireless power tools are the major sub-segments of customized batteries. In addition, the increasing demand for electronic gadgets acts as the primary factor for the maximum share of the customized batteries segment and would further be responsible for boosting the global nano batteries market growth during 2022 - 2027.

Nano Battery Market - By Application:

• Medical
• Consumer Electronics
• Transportation
• Others

The consumer electronics application plays a vital role in holding the most predominant global nano batteries market share in the near future. It is because of the increasing demand for electronic gadgets by the population across the world. Moreover, Electronic (analog or digital) equipment intended for everyday use, often in private homes, is known as consumer electronics or home electronics. Devices utilized for amusement, communication, and recreation are referred to as consumer electronics. Because many things are contained in black or dark casings, they are commonly referred to as black goods. These are utilized to segregate them from "white goods," including washing machines and refrigerators, which are most predominantly used for household activities but are increasingly considered black goods, with some of these being connected to the Internet. Therefore, these factors attribute the maximum global nano batteries market share in the next six years.

Nano Battery Market - By Technology:

• Nano pore
• Nano phosphate
• Lithium-ion

In 2021, the lithium-ion sector had the highest proportion of the nano battery market. This is due to the rising demand for lithium-ion batteries in a variety of applications, including consumer electronics, power tools, aerospace and defense, renewable and grid energy storage, automotive, and others. Furthermore, the advantages of adopting nanotechnology in the production of lithium-ion batteries, such as increased battery capacity and reduced battery charging time, are expected to drive market expansion over the forecast period.

Market Regional Analysis: 

The Global Nano Battery Market Report includes the segmentation of Regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Because nations like China are the major producers of consumer electronics, the Asia Pacific area is the leading market for Nano Batteries. Furthermore, the growth of electronic or hybrid cars would further increase the Nano Batteries market in this region.

North America is anticipated to have a significant global nano batteries market share due to the growing demand for consumer electronics mainly in Canada and U.S.

Europe is responsible for the highest global nano batteries market CAGR owing to the introduction of automation in manufacturing firms in European nations.

Impact of COVID-19 on Nano Battery Market:

The number of those affected fluctuates on a daily basis. The two organizations namely, The World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) are helpful for collecting data, gathering information, and learning regarding the corona crisis. In addition, the new coronavirus is an unprecedented worldwide pandemic that has spread to over 180 nations and resulted in massive human and economic losses worldwide. Furthermore, during the COVID-19 period, the manufacturing and production companies of nano batteries dropped down. Therefore, the market for nano batteries had a massive effect due to the coronavirus. Since the manufacturing and production of the nano batteries were not done parallelly, the usage and the demand for the nano batteries have declined, due to which the market had witnessed a massive loss and these are in an idea of recovering post-COVID by implementing new strategies.

Market Key Players:

The companies covered in the report include:

1. 3M Company
2. Front Edge Technology
3. A123 Systems LLC
4. mPhase Technologies Inc.
5. Altair Nanotechnologies Inc.
6. Evonik Industries AG
7. Sony Corporation
8. Next Alternative Inc.
9. Valence
10. Toshiba

Market Recent Developments:

• 3M announced its investment in Nanoscale Components Inc. on Thursday. The firm, situated in New Hampshire, is noted for its cost-effective technology for increasing lithium content in lithium-ion battery anodes. The investment will help 3M's unique silicon alloy anode become more widely used in lithium-ion batteries.
• Sony Corporation has introduced a new range of lithium-ion batteries with the best energy density in the market, in response to the demand for high capacity and high current in secondary batteries for mobile devices.