The Asia Pacific dual carbon battery market size is estimated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the high charging capability and inexpensive manufacturing cost of dual carbon battery. Moreover, its environment friendly nature is driving the growth of the market.
Dual carbon batteries are also called as dual-graphite. Graphite with the precise grain size is obtained by pyrolyzing cotton. These batteries consist of both anode and cathode made up of carbon. Dual carbon batteries are energy storage batteries that use a form of carbon for both anode and cathode. These batteries are 100% recyclable and are produced with organically grown cotton. The cell in the duel carbon batteries uses one or more lithium salts in an aprotic organic solvent. These batteries can charge upto 20 times more rapidly than lithium-ion batteries. The charging can make electric vehicles more convenient for daily usage.
The dual carbon battery can fully discharge without the risk of short-circuiting as well as damaging the battery. Dual carbon batteries usually operate at over four volts. The electrodes in the dual carbon batteries are made from cotton to control the crystal size effectively. The battery can work without heating at room temperature, avoiding the cooling system widely used in current electric vehicles and the corresponding risk of thermal runaway.
Market Trends, Drivers, Restraints, and Opportunities
- Rising per capita income has impelled the purchasing power of people, which in turn, has increased demand for electric vehicles, positively impacting the dual carbon battery market growth.
- Increasing technological innovation and cost reduction in the production of plug-in electric vehicles are expected to propel the market expansion during the forecast period.
- Growing consumer demand for different cars models, rapid growth of charging infrastructure, and economical developments are expected to push the market expansion in the coming years.
- Rising usage of electric vehicles (EV) to reduce air pollution, which results from fuel combustion and limit the noise pollution is anticipated to boost the market expansion.
- The COVID-19 outbreak disrupted the supply chain, hampering the growth of the market. However, the relaxation in restriction in the manufacturing facilities is expected to help the market recover soon.
- Rising graphite carbon prices and growing competition from other battery technologies can hinder the market growth during the forecast period.
- Ongoing technological advancements in electric vehicles (EV) can create significant opportunities for the market growth in the coming years.
Scope of the Report
The report on the Asia Pacific dual carbon battery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Dual Carbon Battery Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Applications (Automotive, Industrial, Portable, and Others)
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Geographical Scope
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China, India, Japan, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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PJP Eye LTD.
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Asia Pacific Dual Carbon Battery Market Segment Insights
Automotive segment to grow at a significant pace
On the basis of applications, the market is segmented into automotive, industrial, portable, and others. The automotive segment is expected to grow at a robust pace during the forecast period due to increasing demand for high-end batteries from electric vehicle manufacturers. Increasing demand for power saving batteries such as dual carbon batteries and zinc carbon batteries is driving the growth of the market segment. The automotive industry is anticipated to introduce 127 models of electric batteries in the coming next five years. Electric vehicle manufacturers are signing contracts or dealing with battery manufacturers, which is anticipated to drive the segment growth.
China is anticipated to dominate the market
On the basis of geography, the Asia Pacific dual carbon battery market is categorized as China, India, Japan, and Rest of Asia Pacific. China is anticipated to dominate the market during the forecast period. China is one of the prominent electric vehicle market. The Government of China is planning to simplify restriction on the automotive industry. China remained major electric car market in 2020. It sold about 1.0 million electric cars in 2018 with 2.3 million units.
Segments
Segments Covered in the Report
The Asia Pacific dual carbon battery market has been segmented on the basis of
Applications
- Automotive
- Industrial
- Portable
- Others
Geography
- China
- India
- Japan
- Rest of Asia Pacific
Key Players
Competitive Landscape
Key players competing in the Asia Pacific dual carbon battery market include PJP Eye LTD.
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