Silicon anode battery sales will be driven by applications in automotive and consumer electronics, according to Future Market Insights (FMI). According to the report, the silicon anode battery market is expected to exceed $2.09 billion by 2031. In a variety of industries, these batteries are used as a replacement anode for graphite.
Silicon is used as a utility negative electrode in lithium-ion batteries because it has superior technical properties to graphite. Because of the increased production of electronic vehicles, its use in the automotive industry is expected to skyrocket. While the automotive industry currently dominates, the consumer electronics industry will closely follow, exhibiting rapid growth.
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Key Takeaways of Silicon Anode Battery Market Study
- Silicone anode battery market will register impressive growth, exhibiting 21.5% CAGR between 2021 and 2031
- Expansion of consumer electronics and automotive sectors will enable the U.S. account for over 70% silicon anode batteries sold in North America
- Despite a year of negative growth, the U.K. will register 16% y-o-y growth in 2021, thanks to increasing sales of electronic vehicles
- Germany and France will emerge as highly lucrative markets for silicon anode battery in Europe
- Increasing consumer electronics manufacturing and demand for state-of-the-art technologies supporting expansion in China. Japan and South Korea too will continue offering lucrative opportunities
“Silicon anode manufacturers are likely to capitalize on the increasing demand for electronic vehicles. Higher focus on environmentally-friendly technologies will continue offering attractive opportunities,” said a lead analyst at FMI.
North America currently leads the market. Europe too will exhibit increasing demand, thanks to increasing focus on the production of electric vehicles. Besides this, growth exhibited in both East and South Asia will increase at an accelerated pace especially since these regions are focusing on expanding their manufacturing facilities.
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Silicon Anode Battery Market by Segments
Capacity
- Below 1500 mAh
- Between 1500-2500 mAh
- Above 2500 mAh
Application
- Consumer Electronics
- Smart Phones
- Laptops
- Tablets
- MP4 Players
- Digital Players
- Other Microelectronic devices
- Automotive
- Plug in Hybrid Electric Vehicles
- Hybrid Electric Vehicle
- Electric Vehicle
- Electric Bicycle
- Industrial
- Grid & Renewable Energy
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia-Pacific
- Middle East & Africa
