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Press Release: Silicon Anode Battery Market To Surpass US$ 1050.0 Million By 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Silicon anode battery is also known as next-generation Li-ion batteries that use silicon as an anode in order to provide more than 10 times theoretical capacities as compared to the lithium-ion battery. They are basically an extension of lithium-ion battery which increases the energy storage capacity and increase life of the battery. They are widely used across various industries such as automotive, consumer electronics, and grid & renewable energy.
The global silicon anode battery market is projected to surpass US$ 1050.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 21.5% during the forecast period (2020 to 2027).
Drivers
Growth in the electronic industry is a major factor fueling the market growth of the silicon anode battery. Rising demand for microelectronic devices such as laptops, cell phones, and tablets is expected to have a positive impact on the market growth of the silicon anode battery. Growing demand for smartphones due to increasing penetration of the internet is further anticipated to augment the market growth of the silicon anode battery.
The growing use of silicon as an anode material in lithium-ion batteries due to its excellent capacity performance is projected to bolster the market growth. Also, growing environmental concern coupled with the rising demand for the high-performance batteries due to rising demand for high-end electronic applications are further expected to augment the market growth of the silicon anode battery over the forecast period
Regionally, Asia-pacific dominated the global silicon anode battery market in 2019, reporting 39% market share in terms of revenue, followed by North America and Europe, respectively.
Figure 1. Global Silicon Anode Battery Market, Revenue Share (%), By Region, 2019
Market Restraints
The poor life cycle of silicon materials is one of the major challenges for the market. This factor is expected to hinder the market growth of the silicon anode battery.
The high production cost of the silicon batteries is another major factor expected to inhibit the market growth of the silicon anode battery over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 1050.0 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 21.5% | 2027 Value Projection: | US$ 170.0 Mn |
| Geographies covered (27): |
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| Companies covered (10): |
Nexeon Limited, Enevate Corporation, OneD Material, XG Sciences Inc., Nanotek, Instruments, Inc., Zeptor Corporation, California Lithium Battery, Amprius, Inc., and Connexx Systems Corporation |
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| Restraints & Challenges: |
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Market Opportunities
An increasing number of new gigafactory projects by manufacturers is expected to offer potential growth opportunities to the market of the silicon anode battery. For instance, in November 2019, Tesla founder and CEO Elon Musk pledged to build "Gigafactory 4" in the Berlin area. It is planning to build batteries, powertrains, and vehicles, starting with Model Y" a lower-priced sports utility vehicle at the factory.
Growth in the IT sector coupled with the increasing government focus on the developing high-performance operating system is expected to propel the market growth of the silicon anode battery. In addition to this, advancement in the technology in order to offer a high-performance battery and better energy storage system is further anticipated to augment the market growth of the silicon anode battery over the forecast timeframe.
Figure 2. Global Silicon Anode Battery Market – Opportunity Analysis
Market Trends
Growing demand for silicon anode battery from healthcare electronic devices is expected to fuel the market growth over the forecast period. The growth of the market is also attributed to the increasing production of various healthcare devices due to growth in the healthcare sector around the globe. Thus, growing demand for the product from healthcare devices is anticipated to augment the market growth.
The rising demand for silicon anode battery from the grid and renewable energy sector is expected to accelerate the market growth over the forecast period. The growth is also attributed to the developing infrastructure of the energy sector around the globe due to the growing demand for energy. Therefore, growth in the energy sector is expected to augment the market growth of the silicon anode battery.
Figure 3. Global Silicon Anode Battery Market, Revenue Share (%), By Application, in 2019
On the basis of application, consumer electronics dominated the global silicon anode battery market in 2019 with around 45% of market share in terms of revenue, followed by automotive and industrial, respectively.
Global Silicon Anode Battery Market - Impact of Coronavirus (Covid-19) Pandemic
The automobile industry is facing a major slowdown globally owing to the implementation of lockdown in various countries across the globe amidst the Covid-19 outbreak. This has led to hamper the demand of silicon anode batteries from automotive industry. The global car rental market is expected to grow at slower rate of around 10% for a short term period. However the demand for silicon anode batteries is expected to regain traction by end of 2021 with production facilities functioning at stable rate.
Competitive Section
Key players are operating in the global silicon anode battery market are Nexeon Limited, Enevate Corporation, OneD Material, XG Sciences Inc., Nanotek, Instruments, Inc., Zeptor Corporation, California Lithium Battery, Amprius, Inc., and Connexx Systems Corporation
Few Recent Developments
Enevate Corporation
Silicon anode battery is the extension of lithium-ion battery which are also known as next-gen Li-ion batteries. Lithium-ion battery which uses silicon as anode in batteries results in significantly higher energy storage and longer battery life. Silicon anode batteries are used in various applications which include industrial, consumer electronics, automotive, and grid & renewable energy.
Market Dynamics
The global silicon anode battery market has witnessed significant growth in recent past years, owing to the rising demand for rising demand for electronic devices smartphones among consumers. Furthermore, growing investments for research & development in production silicon anode battery solutions has fuelled the growth of the market in recent past years.. This scenario is expected to provide lucrative growth to the global silicon anode battery market over the forecast period.
Major players in the global silicon anode battery market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as Automotive, Electronics, Energy, Aviation and healthcare. This scenario is expected to fuel the market during the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 45 market data tables* and 30 figures* on "Global Silicon Anode Battery Market” – global forecast to 2027
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