Impact Assessment of COVID-19 Outbreak on Dual Carbon Battery Market

Dual Carbon Battery: Environment-friendly Alternative over Lithium Ion Battery

  • Dual carbon battery offers a promising solution for smart grid applications. It also offers environment-friendly benefits. Electrolytes are the essential components of dual carbon battery. Electrolyte provides the free flow of ions into carbon electrodes, thereby impacting the performance and safety of the dual carbon battery.

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  • As the energy in the dual carbon battery is discharged, the anions and cations return to their source through internal design as per the battery’s custom design. In this way, the electrolyte acts as a charge carrier and active material. Thus, dual carbon battery acts as a better alternative compared to lithium ion batteries.
  • In 2014, a start-up by Power Japan Plus announced plans to commercialize dual carbon batteries under the name Ryden. The battery is likely be configured to fit in a standard cell and offer higher reliability. It is expected to have a lifespan of 3,000 charge per discharge cycle.

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  • Dual carbon battery offers various advantages. For instance, it can be charged at a faster rate than lithium-ion batteries. It can also be used in electronic vehicles.
  • Dual carbon battery is environment friendly. The cathode and anode of the battery is made of carbon with an electrolyte solution. This allows separation on the flow of ion current, making the construction of batteries simple.
  • Dual carbon battery is widely used in various end-uses including automotive, industrial, consumer electronics and medical. Automotive is expected to be the major end-use industry of the global dual carbon battery market, owing to the rise in demand for automotive across the globe.

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Key Drivers of Dual Carbon Battery Market

  • In 2016, Norway announced a ban on fossil fuel cars and prohibition on the sale of all petrol and diesel vehicles by 2025. In the same year, The Bundesrat, a federal council based in Germany, agreed to ban fossil fuel powered vehicles by 2030. These factors are estimated to drive the growth of electric vehicles across the globe, thereby boosting the dual carbon battery market.

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  • Rise in per capita income has propelled the purchasing power of people. This has led to an increase in global demand for vehicles across the globe. For instance, in 2017, the global sale of vehicles rose by 3.07%. In turn, this boosted the demand for dual carbon batteries.
  • According to the U.S. Department of Energy, the sale of hybrid electric vehicles in the country stood at 370,685 in 2017. In the same year, the sale of plug-in electric vehicles grew rapidly from 195,245, 2017. Increase in technological innovation and cost reduction of plug-in electric vehicles are expected to augment the demand for plug-in electric vehicles in the near future.
  • Rise in consumer demand for different cars model, increase of charging infrastructure, and economical developments across the globe are anticipated to fuel the demand for electrical vehicles across the globe. This, in turn, is estimated to require batteries for charging, thereby fueling the dual carbon battery market.
  • Dual carbon battery can be employed in consumer electronics for portable charging application. Increase in purchasing power of the people has boosted the sale of cell phones, laptops, etc.

Lack of Awareness about Dual Carbon Battery

  • Dual carbon battery faces stiff competition from counterparts such as lithium ion battery. Manufacturers of dual carbon batteries are also few. This is expected to hamper the global dual carbon battery market in the near future.
  • As electronic vehicles are not commercialized across the globe and lots of research & development activities are going on regarding the production of electric vehicles, thus in turn is anticipated hamper the growth of dual carbon battery in the near future.

Asia Pacific Expected to Hold Large Share of Global Dual Carbon Battery Market

  • Geographically, the global dual carbon battery market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is a leading consumer of dual carbon battery, followed by North America and Europe. Increase in disposable income of consumers in Asia Pacific has led to a rise in spending power of the people. It has also augmented the demand for automotive across the region. Increase in shift of consumer toward luxurious cars is expected to create lucrative opportunity for the growth of automotive sector in the region.
  • Prominent manufacturers of dual carbon battery are based in Asia Pacific region, which in turn is likely to drive the market across the region.
  • Rise in FDI investment in automotive and construction industries in developing economies of Asia Pacific is another factor likely to fuel the market in the region during the forecast period
  • Increase in demand for low VOC emitting automotive is propelling the demand for dual carbon batteries in North America and Europe
  • Rise in import of dual carbon battery in Latin America and Middle East & Africa due to its excellent charging capability and low VOC emissions is likely to boost its demand in these regions

Key Players in Global Dual Carbon Battery Market

The global dual carbon battery market is highly consolidated with the top manufacturers accounting for the major share of the market. In addition, the market the dual carbon batter market is on initial stage, and lots of research & development is going for the commercialization of dual carbon battery. Key players operating in the global dual carbon battery market include:

  • Power Japan Plus
  • Others