The new report by Expert Market Research titled, ‘Global Carbon Foam Batteries Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global carbon foam batteries market, assessing the market based on its segments like type, application, end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
The carbon foam batteries market has been growing in the historical period owing to the rise in demand for renewable energy storage systems and electric vehicles have fueled the demand for carbon fiber batteries globally, also the rise in demand has led to an increase in research & development spending on various types of battery arrangements, electrodes, battery materials, etc. The carbon foam battery operates on carbon foam microcells technology, which offers the best-in-class output compared to traditional lead-acid and other counterpart batteries.
The easy availability of large quantities of raw material, i.e., carbon, for the assembly of carbon foam batteries is expected to spice up the demand for carbon foam batteries worldwide. The global carbon foam batteries market is expected to see exuberant growth over the forecast period, on the back of increasing population and economic development around the world coupled with growing energy demand in the residential, commercial, and public utilities and transport sectors.
Industry Definition and Major Segments
The carbon foam battery is a potential substitute for the lead-acid batteries used in cars or other applications. The carbon foam batteries provide instantaneous power, recover to full capacity after discharge, and have rapid recharge capability than other counterparts, few other key features include high-temperature resilience, provide continuous power through the discharge process, and have good utilization of cold temperature volume.
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By type, the global carbon foam batteries market can be divided into:
Based on application, carbon foam batteries market can be divided into:
- Power Grids
- Energy Storage Systems
- Load Shifting
Based on end-use, the market can be divided into:
Global energy demand increased by 4 percent (900TWh) in 2018, according to the IEA (International Energy Agency). In the same year, coal and natural gas accounted for the estimated combined output of energy worldwide, with coal contributing 25.6 percent and natural gas contributing 27.9 percent of the total production. Also, the demand for renewable, sustainable, and eco-friendly energy production is growing due to increased concerns about the rise in CO2 emissions from power generation. The market for carbon foam batteries has increased due to a rise in demand for electric vehicles worldwide to reduce the use of fossil fuels. The demand for carbon foam batteries in Europe is driven by the marine sector, as the area is experiencing the usage of a significantly high number of powerboats and leisure boats in the sector and the Asia Pacific demand for carbon foam batteries is expected to grow owing to a rise in investments in green and automotive applications for energy storage.
Key Market Players
The major players in the market are Firefly Batteries Pvt. Ltd, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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