Carbon Battery Bank Market Size & Share, by Capacity (500-1000 Ah, 1000-2000 Ah, 2000-5000 Ah, More than 5000 Ah); Battery Banks (Lithium-Carbon, Sodium-Carbon); End-user (Commercial, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5249
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Carbon Battery Bank Market size is poised to reach USD 13 Billion by the end of 2036, growing at a CAGR of 9.2% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of carbon battery bank was USD 5 Billion. The reason behind the growth is due to the rising adoption of renewable sources. The market for renewable energy has expanded quickly, as renewable energy sources, such as wind and solar, are widely accessible, and the negative effects of fossil fuels are rising.

Moreover, energy from renewable sources is kept in reserve in the carbon battery bank which also assists in securing a consistent supply of renewable energy for electrical grids. Through 2026, renewable energy sources will boost the world's power capacity by more than 90%.

The growing demand for highly secure battery banks is believed to fuel growth of the carbon battery bank market. A power bank may recharge a device more frequently the more energy it can hold, and as the demand rises and technology advances power banks must provide the quickest safest charging possible given the industry trend towards fast charging. This is expected to significantly drive market growth in the coming years.


Carbon Battery Bank Market
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Carbon Battery Bank Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Electric Vehicles – It is expected that rising personal disposable income, increasing need for reducing dependence on imported oil, and sustained policy support, are anticipated to drive the market growth. Carbon battery banks are made with carbon-based materials with high density that can be used to supply power to electric vehicles and they also act as efficient energy storage options. According to estimates, more than 9 million electric vehicles will be sold globally in 2022.
  • Growing Environmental Concern- Environmental concerns are becoming more and more prevalent owing to growth in the human population, quick economic development, excessive consumption, pollution, and deforestation. Carbon battery banks have a longer lifespan and they can also be easily recycled, which is anticipated to drive the market growth.

Challenges

  • Exorbitant Initial Investment – Extensive research and the requirement of significant infrastructure are involved in the mass production of carbon battery banks, the cost of which is expensive. As a consequence, manufacturers with limited budgets may not be able to invest in these battery banks.
  • Lack of Energy Density may Limit the Usage of Carbon Battery Bank in High Energy Applications
  • Complexity associated with Acquiring Certification of Safety

Carbon Battery Bank Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~9.2%

Base Year Market Size (2023)

~ USD 5 Billion

Forecast Year Market Size (2036)

~ USD 13 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Carbon Battery Bank Segmentation

Capacity (500 Ah -1000 Ah, 1000 Ah – 2000 Ah, 2000 Ah – 5000 Ah, More than 5000 Ah)

The 500 Ah -1000 Ah segment is estimated to hold 40% share of the global carbon battery bank market in the coming years. Carbon battery banks with 500 Ah -1000 Ah capacity can offer nominal voltage and minimal running time and can be used in several commercial and residential applications. They have a higher energy density and can be charged and discharged many times before their capacity degrades. Besides this, these batteries are cost-effective, safer, and environmentally friendly.

End-User (Commercial, Industrial)

The commercial carbon battery bank market is set to garner a notable share shortly. Carbon battery banks are ideal for commercial operations such as server rooms which are used to house computer servers and their associated networking that relies on uninterruptible power supplies system (UPS) to reliably continue the workflow and to provide protection and backup power for servers.

The battery bank is a crucial component of the UPS as it supplies the energy required to maintain a steady stream of clean power, and the carbon battery is superior to lithium technology in terms of UPS discharge capacity and is therefore suited for use in emergency power supplies.

Our in-depth analysis of the global carbon battery bank market includes the following segments:

     Battery Type

  • Lithium-Carbon Battery Banks
  • Sodium-Carbon Battery Banks

     Capacity

  • 500 Ah -1000 Ah
  • 1000 Ah – 2000 Ah
  •  2000 Ah – 5000 Ah
  •  More than 5000 Ah

     End-User

  • Commercial
  •  Industrial

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Carbon Battery Bank Industry- Regional Synopsis

APAC Market Forecast

Carbon battery bank market in Asia Pacific is predicted to account for the largest share of 45% by 2036 impelled by the growing population. India's population is expanding at an unsustainable rate owing to a lack of family planning, polygamy marriage, and a higher illiteracy rate. As a result, energy consumption may rise in the region, leading to an increase in demand for energy storage technologies. Therefore, the demand for carbon battery banks may witness a huge demand in the region.  According to estimates, in 2022, India's overall population was projected to be over 1370 million.

North American Market Statistics

The North America carbon battery bank market is estimated to be the second largest, during the forecast timeframe led by the presence of extreme weather conditions. The United States experiences more extreme weather such as severe thunderstorms; severe snowstorms, ice storms, blizzards, flooding, hurricanes, high winds, and heat waves than anywhere else on Earth. 

Therefore, the resilience of the U.S. electricity grid is highly prioritized since the most frequent reason for electric power disruptions in the United States is extreme weather. This is expected to raise the demand for carbon battery banks to build the electric grid stability and resiliency, and assist in reducing power supply shortfalls brought on by unexpected events in the region.

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Carbon Battery Bank Market Size
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Companies Dominating the Carbon Battery Bank Market

top-features-companies
    • CDN Solar
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Azimuth Solar Products Inc.
    • Narada Asia Pacific Pte. Ltd.
    • Hitachi Chemical
    • Low Carbon
    • Sicona Battery Technologies Pty Ltd
    • Sunergy Solar
    • Jiangxi JingJiu Power Science and Technology Co., Ltd.
    • Leading Edge Power
    • EverExceed Industrial Co. Ltd
    • IPS Integrated Power Systems Inc.

In-the-news

In The News

  • Sunergy Solar partnered with ESGEN Acquisition Corp. to provide improved cost savings, dependability, and energy independence to the customers and to meet the current demand for reducing high energy bills and contributing to a sustainable future.
  • Sicona Battery Technologies Pty Ltd collaborated with Leading Edge Materials in Sweden to commercialize coating processes and technologies, and create a variety of active anode materials products for advanced client qualification trials.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5249
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising adoption of renewable sources and the growing demand for highly secure battery banks are the major factors driving the growth of the market.

The market size of Carbon Battery Bank is anticipated to attain a CAGR of 9.2% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Azimuth Solar Products Inc., Narada Asia Pacific Pte. Ltd., Hitachi Chemical, Sunergy Solar, Jiangxi JingJiu Power Science and Technology Co., Ltd., Leading Edge Power, EverExceed Industrial Co. Ltd, IPS Integrated Power Systems Inc.

The 500 Ah -1000 Ah segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Carbon Battery Bank Market Report Scope
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