The utilization of renewable energy technology is considerably dependent on the development of efficient energy storage systems. Conventional energy storage systems exist mainly for stationary power plants; however, with the emerging concept of Smart Grid, nanotechnology is used in portable power tools. A nano battery which can store enough energy and allow all-electric driving, with a range of some hundred kilometers is the future e-mobility for transportation.
Nanotechnology offers significant contribution toward efficient energy storage systems. Nano batteries are used in various applications such as in electric vehicles, industrial power backups, and laptops rather than using traditional batteries. The power density, or how much power a battery is able to supply per weight is a key factor in battery efficiency. Lithium-ion batteries have the highest power density. This is the reason why Lithium-ion batteries are used in laptops, cell phones, tablets, and electric vehicles.
Usage of nanotechnology in the manufacturing of batteries offers various benefits such as reduced possibility of battery catching fire (as the technology provides less flammable electrode material), reduced time required to recharge a battery, and increased availability of battery power. This is achieved by coating a surface of an electrode with nanoparticles. This coating increases the surface area and allows more current to flow between the chemicals inside the battery and the electrode. Nano batteries increases the efficiency of electric/hybrid vehicles by reducing the weight of the batteries to provide appropriate power. Furthermore, usage of nano materials to increase the shelf life of a battery is another advantage of nano batteries as it separates liquids from the solid electrodes in the battery when the battery is not in use. This separation stops the low level discharge which occurs in a conventional battery and increases the shelf life of the battery.
The growth of the nano batteries market is fueled by factors such as acceptance of nanotechnology by the battery industry, commercial grade implementation of nanotechnology in Li -ion batteries, rising demand for electric vehicles, use of nano batteries in portable power tools, and consumer electronics products such as laptops, cell phones etc., and increased application of carbon nanotubes in batteries. All the above mentioned factors are expected to drive the growth of the nano batteries market. There are some restraining factors in the market such as rising price competition globally, global economy slowdown, and technology competition. These factors are anticipated to hinder the growth of the nano batteries market around the globe. The global nano batteries market is witnessing some emerging trends such as miniaturization of batteries, large investments in nano scale components and nano batteries in portable power tools which are expected to drive this market.
The nano batteries market is segmented based on industry vertical and region. The market is segregated into automotive, healthcare and pharmaceuticals, consumer electronics, manufacturing, energy and power, and others on the basis of industry vertical. Based on region, the market is segmented into South America, Asia Pacific, Europe, North America, and Middle East & Africa (MEA). The Asia Pacific nano batteries market is estimated to expand over the next few years; however, the markets in Europe and the Americas are expected to hold the leading position in the nano batteries market. The reason for the growth of the Asia Pacific market is new installations due to automation in the manufacturing industry.
Key players operating in the global nano batteries market include 3M Company, Front Edge Technology, A123 Systems LLC, mPhase Technologies Inc., Altair Nanotechnologies Inc., Evonik Industries AG, Sony Corporation, Next Alternative Inc., Valence, Toshiba and so on. Key players are adding technologically advanced features in their current products to remain competitive in the market.
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