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Market Size – USD 38.8 million in 2019, Market Growth – at a CAGR of 33.3%, Market Trends – Increasing R&D activities for production of gold nanowire batteries

VANCOUVER, BC, CANADA, May 17, 2022 /EINPresswire.com/ -- The global nanowire battery market is expected to reach a market size of USD 352.9 million at a relatively rapid CAGR in 2027, according to latest analysis by Emergen Research. This projected high revenue growth rate can be attributed to increasing investment by major automotive manufacturers in research and development activities for production of more cost-effective and advanced nanowire batteries. The increasing need to enhance the working capacity of cell phones and laptops on a single charge has also resulted in rising adoption of nanowire batteries for application in the equipment and devices produced in the consumer electronics industry. Technological advancement of smart wearables, smartphones, and smart homes are also increasing the need for batteries with high energy density. The high energy density of nanowire batteries has also boosted adoption of nanowire batteries for the production of smartphones and smart wearables.

The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.

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Top competitors of the Nanowire Battery Market profiled in the report include:

Amprius, Sila Nanotechnologies Inc., OneD Material, Inc., Nexeon Ltd., NEI Corporation, XG Sciences, LG Chem, Panasonic, Samsung SDI Co., and Enevate Corporation.

Increasing research and development activities by the University of California Irvine has resulted in the production of a nanowire battery that has high charge storage efficiency. The nanowires in this type of battery are thinner and are more prone to break down during recharging. Gold nanowire is relatively stronger and does not break down easily. New inventions and advancements of existing nanowire batteries and technology is projected to continue to drive growth of the nanowire battery market.

Key Highlights of Report

The consumer electronics segment accounted for largest market share of 32.6% in 2019. Increasing need to improve the working capacity of cell phones and laptops on a single charge has increased the usage of nanowire batteries in the consumer electronics industry.

The silicon segment revenue is expected to expand at a rapid CAGR of 33.9% during the forecast period. The high charge storage capacities of silicon nanowires has been resulting in increasing demand for silicon material-based nanowire batteries.

North America accounted for the largest revenue share contribution to the global nanowire battery market in 2019. Increasing investment in research and development activities by automotive manufacturers for advancement and production of more cost-effective and efficient nanowire batteries is projected to drive growth of the nanowire batteries market in the region.

In November 2020, Panasonic, which is the largest manufacturer of lithium-ion batteries in the world, signed an agreement with Equinor – a Nordic energy company – and Norsk Hydro – an engineering and industrial company. The collaboration is expected to support the development of a battery business in Northern Europe.

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Emergen Research has segmented the global nanowire battery market on the basis of application, raw material type, and region:

Application Outlook (Revenue, USD Million; 2020–2027)

Energy Storage

Consumer Electronics

Aviation

Automotive

Medical Devices

Power Generation

Others

Raw Material Type Outlook (Revenue, USD Million; 2020–2027)

Germanium

Silicon

Transition Metal oxides (manganese oxide, lead oxides anodes, heterostructure TMOs)

Regional Analysis of the Nanowire Battery Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Market Overview:

The research report on the Nanowire Battery market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Nanowire Battery business sphere.

Key Objectives of the Report:

Analysis and estimation of the Nanowire Battery market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Nanowire Battery market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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Nanowire Battery Market Size Worth USD 352.9 million by 2027