Nanowire Battery Market is anticipated to grow from 54 million USD in 2021 to 245.6 million USD by 2026, registering a CAGR of 35.7%.
The market growth is developed by increase in demand for batteries with increasing expenditure on R&D activities by growing consumer electronics industry, high charge retention capacity, and automotive companies. Nanowire battery could be a technology that uses nanowire so as to extend the surface area of its electrodes. Nanowires are structuring whose diameter ranges in tens of nano metres or less. Nanowires gives a better strain relaxation and better interface control, thus providing an better lifecycle. These wires have the unique ability to expand four times than their original size when charged without fracturing. As compared to standard battery, the graphite anode is replaced with these nanowires to boost the battery performance. Lithium ion could be a nanowire battery, which uses stainless-steel anode covered by silicon nanowires. Germanium anodes are replaced and are used in the place of graphite anodes.
Nanowire battery is a battery that is comprised of Cost-Effective Nanowires, for increasing the area of the electrodes. The most effective part about these batteries is their higher count of recharge cycles. The energy storage aspects are close to experience a huge makeover, and therefore the future is bright with its implementation. Most of the companies and industries have already adopted the nanowire and batteries, which improves the demand predictions for this forecasted period.
Nanotechnology is soon about to become a reality because the introduction of nanowire batteries already exists within the world. Because the demands are high, the consumers and industries are adopting these technologically advanced batteries on a bigger scale. The best part about it is that it's long-lasting and might survive thousands of recharge cycles without breaking down. And that is what's pushing the highest brands across various regions of the world to be a part of the worldwide Nanowire battery market.
One among the main drivers of the worldwide nanowire battery market is that industries and consumers seek technologically advanced products for running their applications. Traditional batteries aren't sufficient enough to withstand the ability requirements for diverse applications. Therefore, the demand rate is supposedly increasing for nanowire batteries as they're modern technologies and might enhance business productivity.
Another major market driving factor of the market of global nanowire battery is that the product can handle thousands of recharge cycles. As a result, battery life is recorded to be more than the traditional batteries, which are a significant reason for the increased demand for these sorts of batteries. Another major market driver aspect of nanowire battery is their low manufacturing cost. These batteries don't demand high production costs and can be highly adaptable within the coming years.
The year 2020 was the year of an epidemic that impacted the market adversely and was the main restraint for a couple of months. But with the collective help of the key players and higher authorities, the companies are now regaining their momentum, and so is that the nanowire battery industry.
Apart from these, there's a major restraint for the market of global nanowire battery, i.e., their susceptibility towards the edge effect. In such scenarios, the battery conductivity gets affected, and therefore the bonding of the atoms within nanowires decreases over time. Hence, this is often one among the main factors which will hamper the growth potential of the nanowire battery market.
The traditional batteries are now experiencing a downfall because of a small life span. The applications can't be expected to run seamlessly when connected to traditional batteries. Therefore, the population has now adapted nanowire batteries for industrial and commercial applications across various regions of the world. The main opportunities that are yet to return for the worldwide market are that soon the nanowire batteries are going to be utilized in marine applications and drones. Alongside that, the rapid increase within the use of phones, wearable devices, laptops, etc. are boosting the market to enjoy fruitful revenue generation.
The key players across the world in several regions are experiencing a huge spike within the demand cycle. Therefore, they're implementing new manufacturing strategies to extend the availability rate. The intended audience for the market is technology investors, OEMs, battery manufacturers, nanowire providers, automotive companies, and consumer electronics manufacturers. With the increase in adaptation scale, the worldwide nanowire market is about to experience an enormous boom within the coming years.
The Nanowire Battery market is segmented based on type and industry.
Need for an increased battery lifetime and faster recharging time are the growing trends within the present battery ecosystem. Moreover, growing electric mobility and miniaturization of consumer electronics has created an increased requirement for advanced energy storage for batteries. Nanostructured silicon has developed hugely because of the most promising anode material because of its high theoretical charge retention capacity of 4,296 mAh/gm, which is ten times quite traditional graphite. The obtained high energy density silicon is ideal for energy-intensive applications, like electric vehicles, consumer electronics, and electric grid energy storage.
Nowadays, innovations are happening within the healthcare industry.However, these implantable devices use lithium-ion batteries as power sources, which present a substantial number of questions of safety to the patients. Therefore, upcoming nanowire batteries, which are lighter, safer, and have more energy density, are expected to exchange lithium-ion batteries for implantable devices within the coming years.
By geography, the Nanowire Battery Market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. The Asia Pacific region is anticipated to guide the worldwide Nanowire Battery market during the forecast period. The increasing demands for various wearable devices and smartphones in countries like South Korea, India, China, and Japan is anticipated to contribute to the general growth of the nanowire battery market in this region. The high potential within the Asia Pacific region for future opportunities caused thanks to the fast industrialization and urbanization mainly in countries like India, Japan, and China is that the primary reason for its booming market values within the global nanowire battery market.
Similar to the other industry, the nanowire battery market also experienced a downfall because the consumers weren't keen to invest in it at the time of the financial and business crisis. Therefore, the sales rate dropped for a couple of months in 2020.
The companies are running with full potential, and therefore the demand rate is increasing from the last months of the 2020. People from different parts of the planet have understood truth efficacy of embedding nanowire batteries above the normal ones. And therefore, the efficient perks are accumulated to plug the merchandise on a bigger scale.
Key Participants Operating in the nanowire batteries market are
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Transition Metal Oxides
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
5.2.2 Consumer Electronics
5.2.6 Medical Devices
5.2.7 Y-o-Y Growth Analysis, By Type
5.2.8 Market Attractiveness Analysis, By Type
5.2.9 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Industry
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Industry
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Sila Nanotechnologies
8.3 OneD Material
8.5 NEI Corporation
8.6 XG Sciences
8.7 LG Chem
8.9 Samsung SDI
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures