Proton Battery Market: Introduction
- Proton battery consists of two major parts: carbon electrode as a hydrogen store and reversible fuel cell to produce electricity
- In the charging process, the carbon from the electrode bonds with protons. These protons are generated by splitting hydrogen and oxygen from the water. The separation of proton is done by electrons, which are generated from the external power source.
- In the power supply process, the protons are released from the carbon electrode to bind with oxygen to form water. This is achieved with the help of the reversible fuel cell. During this process, the energy produced can be used in various applications such as powering electric vehicles, consumer electronics, and lighting households.
- Proton battery does not burn the carbon in power generation process. Hence, it does not create emissions such as fossil fuel. Proton battery can store more energy than commercially available Li-ion batteries. Therefore, companies are now investing more in research and development of proton battery.
Key Drivers and Restraints of Global Proton Battery Market
- Increase in environmental awareness is expected to drive the global proton battery market during the forecast period. Demand for environment-friendly energy storage and power supply has been rising significantly since the last few years. This trend is anticipated to continue during the forecast period. Proton batteries do not release any emissions; thus, increase in environmental awareness is expected to drive the global proton battery market.
- Proton battery with the size of 5.5 square centimeters is able to store the same amount energy per unit mass as current lithium-ion battery. Hence, proton battery can provide high energy storage in small size. This is expected to boost the proton battery market during the forecast period.
- Rise in demand for more advanced batteries in various industries such as automobile, aerospace, defense, and consumer electronics is anticipated to drive the proton battery market in the near future
- Li-ion battery possesses more current density than proton battery. This is estimated to be the major factor restraining the proton battery market during the forecast period.
- Proton batteries are not yet commercialized; therefore, the initial investment for commercialization is high. High initial investment is anticipated to be another factor hampering the proton battery market during the forecast period.
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Global Proton Battery Market: Segmentation
- In terms of end-user, the global proton battery market can be segmented into automobile, aerospace, defense, energy, electronics, and others. Demand for electric vehicles has been rising significantly in the automobile segment since the last few years. This trend is expected to continue during the forecast period. Thus, the automobile is projected to be the leading segment of the proton battery market in the near future.
Global Proton Battery Market: Regional Segmentation
- Based on region, the global proton battery market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global proton battery market in the near future. The market in the region is anticipated to expand at a significant pace during the forecast period, due to the increase in household income, and rise in paying capacity, and growth in awareness about environmental issues among consumers.
- North America is projected to account for vital share of the proton battery market in the near future. The U.S. is estimated to lead the market in the region during the forecast period.
- The market in Europe is projected to expand at a steady pace during the forecast period. Germany and France are likely to lead the proton battery market in Europe during the forecast period.
- The proton battery market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period
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- In March 2018, scientists from The Royal Melbourne Institute of Technology University, Australia, created the proton battery. Scientists believe these batteries might be useful in household storage of electricity from solar photovoltaic panels. These batteries can also be used for medium-scale storage in electricity grids and electric vehicles with some modifications.
Key Players/Research Institutes in Market
- The Royal Melbourne Institute of Technology University
Global Proton Battery Market: Research Scope
Global Proton Battery Market, End-user
- Consumer Electronics
Global Proton Battery Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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