Richmond, Dec. 01, 2023 (GLOBE NEWSWIRE) -- According to a research report "Dual-ion Batteries Market, by Type (Metal-Organic, Metal-Metal, Sodium-Ion, Zinc-Ion, Others), Application (Electric Vehicles, Portable Electronics, Renewable Energy Storage, Medical Devices, Others), and Region.
Global Dual-ion Batteries Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 0.4 Billion |
| Market size value in 2030 | USD 1.4 Billion |
| CAGR (2023-2030) | 16.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Dual-ion Batteries Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Dual-ion batteries represent a rechargeable battery category that employs two distinct types of ions, typically metal cations and organic anions, for the storage and release of energy. This technology has garnered growing attention in recent times owing to its potential advantages over conventional lithium-ion batteries, encompassing heightened energy density, extended cycle life, and enhanced safety features. As the demand for efficient and sustainable energy storage solutions continues to rise, dual-ion batteries have emerged as a promising technological advancement applicable in various fields.
The global market for dual-ion batteries is propelled by the increasing need for electric vehicles, portable electronics, and renewable energy storage solutions. The significant potential of dual-ion batteries in these sectors, attributed to their elevated energy density and prolonged cycle life, has contributed to their prominence. Moreover, their cost-effectiveness and the abundance of raw materials position them as an appealing alternative among other emerging battery technologies. However, challenges to market growth include elevated manufacturing costs, restricted availability of raw materials, and the absence of standardized processes.
Major Vendors in the Global Dual-Ion Batteries Market:
- Excellatron
- Custom Cells Itzehoe GmbH
- Jenax
- Faradion Limited
- Tiamat Energy
- Qing Tao Energy Development Co., Ltd.
- Solid Energy Systems
- Ionic Materials
- Sion Power
- Prieto Battery
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Increasing Demand for High-Performance Electronics and Electric Vehicles
The Global Dual-ion Batteries Market is witnessing a surge in demand due to the increasing adoption of high-performance electronics and electric vehicles. Dual-ion batteries, with their ability to deliver higher energy density and improved power output, are becoming a preferred choice for manufacturers in these sectors. As consumer preferences shift towards devices and vehicles that offer longer battery life, faster charging times, and enhanced overall performance, dual-ion batteries are positioned to address these requirements effectively. The electric vehicle market, in particular, is a significant driver for the dual-ion battery industry, as automakers seek advanced energy storage solutions to extend the driving range and reduce charging times. This trend is expected to drive substantial growth in the dual-ion batteries market as these batteries become integral components in powering the next generation of high-performance electronics and electric vehicles.
Market Dynamics
Drivers:
- Advancements in Energy Storage Technology
- Growing Emphasis on Sustainable and Clean Energy Solutions
- Growing Potential of Dual-Ion Batteries for Electric Vehicles
Opportunities:
- Emerging Applications in Portable Electronics and Wearables
- Integration with Renewable Energy Systems
- Rising Demand for Electric Vehicles (EVs)
Emerging Applications in Portable Electronics and Wearables
The global dual-ion batteries market is poised for growth through the proliferation of dual-ion batteries in portable electronics and wearables. With the increasing prevalence of smartphones, smartwatches, and other portable electronic devices, there is a growing demand for compact, lightweight, and high-performance energy storage solutions. Dual-ion batteries, with their potential for higher energy density and improved safety characteristics, address the limitations of traditional lithium-ion batteries in these applications. Manufacturers of consumer electronics are actively seeking innovative battery technologies to enhance the overall user experience by delivering longer battery life and faster charging times. The adoption of dual-ion batteries in portable electronics and wearables presents a lucrative market opportunity, allowing companies to cater to the evolving needs of consumers who prioritize convenience, mobility, and extended device usage between charges. As the market for portable electronic devices continues to expand, dual-ion batteries are poised to become a key enabler of the next generation of energy-efficient and high-performance gadgets.
The market for Dual-ion Batteries is dominated by North America.
In 2022, the Asia-Pacific region dominated the global dual-ion batteries market, holding the largest market share. This growth is primarily attributed to the escalating adoption of electric vehicles due to their environmental benefits and government initiatives, a substantial consumer base for portable electronic devices, and growing investments in research and development endeavors. Moreover, the region boasts the presence of key market players like Envision AESC, LG Chem Ltd., Qingtao Energy Development, Jenax Inc., and Power Japan Plus. With ongoing advancements in electric vehicle production and the robust presence of major industry players, such as Custom Cells Itzehoe GmbH, Faradion Limited, and Tiamat Energy, Europe is poised to experience the most rapid expansion during the forecast period.
The Dual-ion Batteries market is experiencing robust growth worldwide, with North America emerging as the fastest-growing region after the dominant Asia Pacific. The region hosts numerous prominent manufacturers and suppliers of dual-ion batteries, and it is anticipated that the market will persist in its expansion owing to the rising demand for electronic systems across diverse applications. The growth of the dual-ion batteries market in North America is propelled by demand emanating from several industries, such as telecommunications, automotive, aerospace, and defense. In recent years, North American companies and research institutions have been actively engaged in the development of dual-ion battery technology.
The portable electronics segment is anticipated to hold the largest market share during the forecast period
Based on application, the market is segmented into electric vehicles, portable electronics, renewable energy, medical devices, and other sectors. Notably, the portable electronics segment secured the highest revenue share in the global dual-ion batteries market in 2022. A significant trend fueling the expansion of dual-ion batteries in the portable electronics sector is the growing desire for devices featuring extended battery life and quicker charging capabilities. Dual-ion batteries, with their capacity for higher energy densities and faster charging rates compared to lithium-ion batteries, are instrumental in prolonging the operational duration of portable devices and minimizing downtime for charging.
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