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 segmented by type and end-user industry. Based on the type, the market is sub-segmented into primary and secondary dual carbon batteries. Based on the end-user industry, the market is sub-segmented into electronics and electrical, automotive, energy, healthcare, and other end users such as aerospace and defense, and industrial automation. Among the end-user industry, the energy sub-segment is expected to hold a considerable share of the market owing to the rising demand for dual carbon batteries in the energy sector. The growth is owing to significant growth in sustainable energy generation, investments in smart grid infrastructure, importance of energy security primarily due to rising geopolitical tensions among others. According to the International Environmental Agency (IEA), in 2022, China added grid-scale battery storage by installing nearly 5 GW annually, followed by the US, commissioning 4 GW throughout the year. In addition, the Inflation Reduction Act passed in August 2022, incorporates an investment tax credit specifically for stand-alone storage, indicating a potential for increased deployments in the coming years.
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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
Global Dual Carbon Battery Market Report Segment
By Type
- Primary
- Secondary
By End-User Industry
- Electronics and Electrical
- Automotive
- Energy
- Healthcare
- Others (aerospace and defense, industrial automation)
Global Dual Carbon Battery Market Report Segment by Region
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
- Latin America
- Middle East & Africa
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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