Potassium Ion Battery Market
Potassium-ion Battery Market Forecasts to 2030 - Global Analysis By Cell Type (Prismatic, Cylindrical, Pouch and Other Cell Types), Voltage, Capacity, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
CAGR (2024 - 2030) |
13.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Potassium-ion Battery Market is growing at a CAGR of 13.0% during the forecast period. A potassium-ion battery (KIB) is a type of rechargeable battery that utilizes potassium ions as charge carriers. Similar to lithium-ion batteries, KIBs consist of an anode, cathode, and electrolyte. They are gaining attention due to the abundance and low cost of potassium compared to lithium. KIBs offer potential advantages in energy density, cycle stability, and environmental sustainability. Researchers are exploring various materials for electrodes to enhance performance and efficiency, making potassium-ion technology a promising alternative for energy storage solutions.
Market Dynamics:
Driver:
Growing demand for clean energy
The growing demand for clean energy significantly benefits the market, as these batteries offer a more sustainable alternative to traditional lithium-ion technologies. As governments and industries prioritize renewable energy sources and carbon reduction, KIBs present an attractive option due to their abundant raw materials and lower environmental impact. This shift towards clean energy fuels research and development in KIB technology, encouraging innovation in performance and efficiency.
Restraint:
Limited commercialization
Limited commercialization of potassium-ion batteries (KIBs) hampers their growth and adoption in the market. Without established manufacturing processes and widespread infrastructure, the cost of production remains high, making KIBs less competitive compared to lithium-ion batteries. Additionally, potential users may hesitate to adopt KIBs due to uncertainty about performance and reliability, further entrenching lithium-ion technology's dominance and delaying the transition to more sustainable energy storage solutions.
Opportunity:
Government initiatives and incentives
Government initiatives and incentives are increasingly supporting the market as part of broader efforts to promote sustainable energy solutions. Many countries are investing in research and development programs aimed at advancing KIB technology, recognizing its potential for reducing reliance on lithium and improving energy storage systems. Grants, tax credits, and subsidies are being offered to manufacturers and researchers, fostering innovation and lowering barriers to entry.
Threat:
Competition from lithium-ion batteries
The competition from lithium-ion batteries (LIBs) negatively impacts market by stifling innovation and investment. Well-established LIB technology obtains significant customer trust and research money, which makes it challenging for KIBs to draw resources and attention. This dominance can hinder the development of KIBs, limiting advancements in materials and performance. Additionally, the entrenched supply chain for lithium-ion batteries creates barriers to entry for manufacturers, slowing down their market adoption.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market by disrupting supply chains and slowing down research and development efforts. Lockdowns and restrictions hindered the production and transportation of raw materials, leading to delays in KIB projects. Additionally, reduced investment in new technologies during the economic downturn shifted focus back to established lithium-ion systems. However, the crisis also highlighted the need for sustainable energy solutions, potentially accelerating interest in KIBs as industries seek to diversify energy storage options for the future.
The cylindrical segment is projected to be the largest during the forecast period
The cylindrical segment is projected to account for the largest market share during the projection period. This design facilitates efficient packing in various applications, from consumer electronics to electric vehicles. The cylindrical shape enhances structural integrity and allows for scalable manufacturing processes, which can reduce production costs. As researchers focus on optimizing materials for cylindrical KIBs, their potential for high performance and improved lifespan positions.
The electronics segment is expected to have the highest CAGR during the forecast period
The electronics segment is expected to have the highest CAGR during the extrapolated period. KIBs can provide a viable alternative to traditional lithium-ion batteries in devices such as smartphones, laptops, and wearables. Their lightweight and compact design enhances portability, while the use of abundant potassium resources can lower overall manufacturing costs. As demand for sustainable and efficient energy storage grows, KIBs are emerging as a promising option for powering the next generation of electronic devices.
Region with largest share:
North America region is expected to hold the largest share of the market during the forecast period. Driven by increasing demand for energy storage in electric vehicles and renewable energy applications, researchers and companies are exploring KIB technology's potential. Government incentives and funding for clean energy initiatives further support this development. While still in its early stages compared to lithium-ion technology, advancements in KIB materials and performance are positioning the region as a key player.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period due to favorable conditions such as resource availability and government support. Various governments in the region are promoting clean energy initiatives, which include incentives for adopting alternative battery technologies like potassium-ion batteries. Ongoing research and development efforts are enhancing the performance and safety of potassium-ion batteries, making them more competitive against established technologies.
Key players in the market
Some of the key players in Potassium-ion Battery market include QuantumScape , ATLIS Motor Vehicles, Faradion, NexGen Energy Storage, Aionics, Sion Power, KeraCel , BASF, Panasonic, LG Chem, Samsung SDI, Toshiba, Solvay, Albemarle and Tianneng Power.
Key Developments:
In July 2024, PowerCo and QuantumScape announced they have entered into a groundbreaking agreement to industrialize QuantumScape’s next-generation solid-state lithium-metal battery technology. Upon satisfactory technical progress and certain royalty payments, QuantumScape will grant PowerCo the license to mass produce battery cells based on QuantumScape’s technology platform.
In June 2024, Toshiba Corporation, along with its partners Sojitz Corporation and CBMM, has announced the development of a next generation lithium-ion battery that uses niobium titanium oxide (NTO) in the anode.
Cell Types Covered:
• Prismatic
• Cylindrical
• Pouch
• Other Cell Types
Voltage s Covered:
• Low Voltage (below 3V)
• Medium Voltage (3V to 4V)
• High Voltage (above 4V)
Capacities Covered:
• Low Capacity (below 2000 mAh)
• Medium Capacity (2000-5000 mAh)
• High Capacity (above 5000 mAh)
Applications Covered:
• Consumer Electronics
• Electric Vehicles (EVs)
• Grid Energy Storage
• Industrial Applications
• Other Applications
End Users Covered:
• Automotive
• Electronics
• Energy Providers
• Manufacturing
• Telecommunications
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Potassium-ion Battery Market, By Cell Type
5.1 Introduction
5.2 Prismatic
5.3 Cylindrical
5.4 Pouch
5.5 Other Cell Types
6 Global Potassium-ion Battery Market, By Voltage
6.1 Introduction
6.2 Low Voltage (below 3V)
6.3 Medium Voltage (3V to 4V)
6.4 High Voltage (above 4V)
7 Global Potassium-ion Battery Market, By Capacity
7.1 Introduction
7.2 Low Capacity (below 2000 mAh)
7.3 Medium Capacity (2000-5000 mAh)
7.4 High Capacity (above 5000 mAh)
8 Global Potassium-ion Battery Market, By Application
8.1 Introduction
8.2 Consumer Electronics
8.3 Electric Vehicles (EVs)
8.4 Grid Energy Storage
8.5 Industrial Applications
8.6 Other Applications
9 Global Potassium-ion Battery Market, By End User
9.1 Introduction
9.2 Automotive
9.3 Electronics
9.4 Energy Providers
9.5 Manufacturing
9.6 Telecommunications
9.7 Other End Users
10 Global Potassium-ion Battery Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 QuantumScape
12.2 ATLIS Motor Vehicles
12.3 Faradion
12.4 NexGen Energy Storage
12.5 Aionics
12.6 Sion Power
12.7 KeraCel
12.8 BASF
12.9 Panasonic
12.10 LG Chem
12.11 Samsung SDI
12.12 Toshiba
12.13 Solvay
12.14 Albemarle
12.15 Tianneng Power
List of Tables
1 Global Potassium-ion Battery Market Outlook, By Region (2022-2030) ($MN)
2 Global Potassium-ion Battery Market Outlook, By Cell Type (2022-2030) ($MN)
3 Global Potassium-ion Battery Market Outlook, By Prismatic (2022-2030) ($MN)
4 Global Potassium-ion Battery Market Outlook, By Cylindrical (2022-2030) ($MN)
5 Global Potassium-ion Battery Market Outlook, By Pouch (2022-2030) ($MN)
6 Global Potassium-ion Battery Market Outlook, By Other Cell Types (2022-2030) ($MN)
7 Global Potassium-ion Battery Market Outlook, By Voltage (2022-2030) ($MN)
8 Global Potassium-ion Battery Market Outlook, By Low Voltage (below 3V) (2022-2030) ($MN)
9 Global Potassium-ion Battery Market Outlook, By Medium Voltage (3V to 4V) (2022-2030) ($MN)
10 Global Potassium-ion Battery Market Outlook, By High Voltage (above 4V) (2022-2030) ($MN)
11 Global Potassium-ion Battery Market Outlook, By Capacity (2022-2030) ($MN)
12 Global Potassium-ion Battery Market Outlook, By Low Capacity (below 2000 mAh) (2022-2030) ($MN)
13 Global Potassium-ion Battery Market Outlook, By Medium Capacity (2000-5000 mAh) (2022-2030) ($MN)
14 Global Potassium-ion Battery Market Outlook, By High Capacity (above 5000 mAh) (2022-2030) ($MN)
15 Global Potassium-ion Battery Market Outlook, By Application (2022-2030) ($MN)
16 Global Potassium-ion Battery Market Outlook, By Consumer Electronics (2022-2030) ($MN)
17 Global Potassium-ion Battery Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
18 Global Potassium-ion Battery Market Outlook, By Grid Energy Storage (2022-2030) ($MN)
19 Global Potassium-ion Battery Market Outlook, By Industrial Applications (2022-2030) ($MN)
20 Global Potassium-ion Battery Market Outlook, By Other Applications (2022-2030) ($MN)
21 Global Potassium-ion Battery Market Outlook, By End User (2022-2030) ($MN)
22 Global Potassium-ion Battery Market Outlook, By Automotive (2022-2030) ($MN)
23 Global Potassium-ion Battery Market Outlook, By Electronics (2022-2030) ($MN)
24 Global Potassium-ion Battery Market Outlook, By Energy Providers (2022-2030) ($MN)
25 Global Potassium-ion Battery Market Outlook, By Manufacturing (2022-2030) ($MN)
26 Global Potassium-ion Battery Market Outlook, By Telecommunications (2022-2030) ($MN)
27 Global Potassium-ion Battery Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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