Global Silicon Anode Battery Market was valued at US$ 271.6 Million in 2022, exhibiting a CAGR of 18% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 1,020.8 Million by 2030.
Silicon Anode Battery Market, By Application (Consumer Electronics (3G/4G Cell Phones, Laptops, Tablets, Mp4 Players, Digital Cameras, and Other Microelectronic Devices), Automotive (Plug-in Hybrid electric Vehicles, Hybrid Electric Vehicles, Electric Vehicles, and Electric Bicycles), Industrial, and Grid and Renewable Energy), and By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) as published by Coherent Market Insights.
Global Silicon Anode Battery Market- Driver
Government regulations on gas emission
The penetration of electric and hybrid vehicles due to strict emission rules set up by the government is projected to drive the market growth of the global silicon anode battery. According to the International Council on Clean Transportation, June 2022, Sales of EVs was 6.9 million globally in 2021, increase by107% from the 2020. For the first time since 2012, EV sales worldwide doubled in a single year. The average global share of electric vehicles in new vehicle sales has increased from 4.2% in 2020 to an all-time high of 8.3% in 2021.
Global Silicon Anode Battery Market- Opportunities
Rise in use of Nanotechnology for Silicon Batteries
Increasing development of nanotechnology for the silicon batteries, in order to enhance the battery performance is expected to create major growth opportunities to the market. For instance, in April 2023, Sila Nanotechnologies, manufacturer of lithium–silicon batteries using nanoengineered silicon particles, introduced Titan Silicon TM, a mass-produced nano-composite silicon that will power a 20% increase in vehicle range and significantly reduce charging times.
Global Silicon Anode Battery Market- Restraints
Increasing contraction of silicon and repeated expansion of silicon anode batteries
Silicon anode battery consumes large number of lithium-ions that leads to 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.
Key Takeaways:
On the basis of region, Europe is expected to experience significant growth in the global silicon anode battery market due to consumers increasing adoption of electric vehicles,
On the basis of application, consumer electronics segment dominated the global silicon anode battery market with around 45% of market share in terms of revenue, followed by automotive.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/silicon-anode-battery-market-3900
Global Silicon Anode Battery Market- Trends
Increasing research and development for high-performance materials
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 October 2022, The Advanced Manufacturing Office (AMO) of the U.S. Department of Energy (DOE) had awarded Amprius Technologies, Inc., manufacturer of high-energy and high-power lithium-ion batteries, a US$1 million grant to develop its process for producing silicon anodes based on nanowires.
The expansion of businesses through mergers
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 September 2022, OneD Battery Sciences, developer of the SINANODE technology platform, and General Motors Co., manufactures, distributes, and offers automobiles, trucks, components, engines, and financial services globally, announced the execution of a joint research and development agreement, in order to significantly increase the energy density of GM’s Ultium battery cells for a longer range and lower cost.
Global Silicon Anode Battery Market - Impact of Coronavirus (Covid-19) Pandemic
The prolonged global lockdowns have caused a labour and workforce shortage, which has reduced the volume of silicon anode battery production. The global supply chain and manufacturing capacity of silicon anode batteries have been significantly impacted by the labour shortage. Consumer spending restrictions and widespread layoffs have reduced the demand for high-end mobile phones and tablets. These elements put the sustainability of energy-storage materials as well as the long-term development of renewable energy sources of jeopardy.
Global Silicon Anode Battery Market-Competitive Section
- Nexeon Limited
- Enevate Corporation
- OneD Material
- XG Sciences Inc.
- Nanotek, Instruments, Inc.
- Zeptor Corporation
- California Lithium Battery
- Amprius, Inc.
- Connexx Systems Corporation
