Dual carbon battery market is anticipated to grow at a CAGR of 7.0% during the forecast period (2024-2031). Pivotal factors driving the overall market growth include the increasing demand for sustainable energy solutions, rapid adoption of electric vehicles (EVs), and the growing electronics and electrical market. Additionally, with the growing demand and a competitive landscape, market players are increasingly investing in increasing manufacturing capabilities, and R&D to stay competitive.
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The global dual carbon battery market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among regions, the European dual carbon battery market is expected to grow significantly during the forecasting period primarily due to the growing focus on sustainable solutions by regional economies. Growing investments in sustainable energy production in the region are also driving demand for strong energy storage infrastructure. As per the data from the European Association for Storage of Energy, to achieve a target of approximately 200 GW by 2030, the deployment of storage must increase to a minimum of 14 GW per year. Looking ahead to 2050, the energy system will require a storage capacity of at least 600 GW, with more than two-thirds of this demand being fulfilled by energy-shifting technologies, specifically power-to-X-to-power applications. Additionally, the growth of the regional EV market and, the importance of energy security mainly after Russia-Ukraine is further contributing to overall market growth.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Dual Carbon Battery Market by Type
- Primary
- Secondary
Global Dual Carbon Battery Market by End-User Industry
- Electronics and Electrical
- Automotive
- Energy
- Healthcare
- Others (Aerospace and Defense, Industrial Automation)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Ambri Inc.
- Amperex Technologies Ltd.
- Amprius Inc.
- Aquion Energy Inc.
- Boulder Lonics
- Cadenza Innovation, Inc.
- EnerDel Inc.
- Enevate CorporationCorp.
- Enovix CorporationCorp.
- GS Yuasa CorporationCorp.
- Hitachi Ltd.
- Ilika plc
- Johnson Controls
- JSR Corp.
- Nohms Technologies Inc.
- Panasonic CorporationCorp.
- PolyPlus
- QuantumScape CorporationCorp.
- Toshiba CorporationCorp.
- Wanxiang A123 Systems Corp.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the dual carbon battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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