Silicon anode battery is highly advanced that operate under silicon anodes and increase the life of the battery and offers a high storage system. Moreover, this battery provide a faster-charging process and high working voltage with the stable chemical property. Moreover, they are more environmentally friendly compared to traditional batteries. They are widely employed in consumer electronic products, electric vehicles, digital cameras, laptops, cell phones, and other microelectronic devices.
The global silicon anode battery market was estimated to be valued more than US$ 170.0 million in terms of revenue in 2019 and is predicted to grow at a CAGR of 21.5% during the forecast period (2020 to 2027)
The penetration of electric and hybrid vehicles due to strict emission rules set up by the government is projected to foster the market growth of the silicon anode battery. According to the International Council on Clean Transportation, annual global EV production surpassed 2 million/year in 2018. Of which Canada is the 8th largest EV market, with over 40,000 sales in 2018. Thus, increasing sale and production of EVs is expected to accelerate market growth over the forecast period.
Increasing development of nanotechnology for the silicon batteries in order to enhance the battery performance is expected to represent major growth opportunities to the market. For instance, in February 2019, CLB has announced the development of an industry-leading high capacity silicon anode material for next-generation batteries to be used in electric vehicles (EV), consumer electronic devices, power tools, and energy storage systems. Thus, increasing development of such advanced technology will favor the market growth of silicon anode battery.
Silicon anode battery consumes large number of lithium-ions which leads to an increase in the volume of silicon when binding with lithium ions. This leads to contraction of silicon and repeated expansion of silicon anode while charging is expected to reduce the performance of the battery. This is expected to hinder the market growth.
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.
Increasing investment by the manufacturer to develop high-performance materials for silicon anode battery is expected to be a major trend in the market. For instance, in April 2020, Enovix Corporation has secured US$ 45 million in new funds to produce and commercialize its 3D Silicon Lithium-ion Battery. The funding sources include a major new strategic investor, current investors (including T. J. Rodgers and York Capital), and non-dilutive funding from market-leading customers.
Partnership and agreement among major players for expanding their presence is a major trend in the market and this is expected to foster market growth. For instance, in October 2019, Airbus Defence and Space has partnered with the U.S. based Amprius Inc’s for boosting the development of new generation batteries based on Silicon Nanowire Anode technology. Such partnerships among major players are expected to augment the market growth.
Global Silicon Anode Battery Market - Impact of Coronavirus (Covid-19) Pandemic
Unavailability of labor and workforce has led to reduction in the production volume of silicon anode batter owing to extension of lockdown across the globe.
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
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