The global silicon anode battery market is likely to be valued at US$ 2.7 billion in 2023. The increasing application of technologically improved silicon anode batteries with high storage capacity across various industries is driving the market growth. FMI projects market is estimated to garner US$ 131.6 billion in 2033, recording a CAGR of 47.5% from 2023 to 2033.
Silicon anode batteries represent a groundbreaking advancement in battery technology, offering significant improvements over traditional lithium-ion batteries.
The demand for silicon anode batteries is high in the commercial and industrial sectors due to increased demand for energy storage. Increasing the use of batteries with high capacity is expected to boost market sales during the forecast period.
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The expansion of the application sector such as automotive consumer electronics is likely to drive the growth of the silicon anode battery market. The technological advancement in the automotive industry, such as the increased application of sustainable & reliable automotive components in electric vehicles has augmented the demand for batteries with higher storage capacity.
Key Takeaways From the Market Report:
- From 2018 to 2022, the market demand expanded at a CAGR of 40.5%
- Based on the application, the automotive segment to accumulate a market share of 38.5% in 2023
- By capacity, the above 2500 mAh segment dominates the market with a share of 47%
- North America to emerge as a promising market, capturing nearly 42.3% of the global market share in 2023
- Asia Pacific to be an opportunistic market, expected to capture a CAGR of 35.7% during the forecast period.
Competitive Landscape
Prominent players in the silicon anode battery market are Amprius Inc, Nexion Ltd, Enovix Corporation, Enevate Corporation, Nanograf Corp, Sila Nanotechnologies Inc, Boston Power Inc, XG Sciences Inc, Eocell Inc, Nanotech Instruments Inc, Zenlab Energy Inc. among others.
Leading players operating in the global silicon anode battery market are focusing on intensive research and development for launching innovative products and services in the market.
Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market.
The market players are also emphasizing offering silicon anode batteries with high reliability and high performance. The market is benefiting from partnerships with a high focus on innovation.
- In November 2021- Panasonic Corporation and Toyota Motor Corporation – and Nexeon, the company developing advanced silicon materials for next-generation lithium-ion batteries, agreed to extend their funded joint development agreement (JDA). The partners will focus their work on the commercialization of e-mobility applications of lithium-ion batteries.
- In May 2022 – Sila, a next-generation battery materials company, today announced the purchase of a facility with more than 600,000 square feet of space located in Moses Lake, WA to be used to manufacture Sila’s breakthrough lithium-ion anode materials at automotive volumes and quality. Powered with hydropower, the facility is located on 160 acres of land close to rail lines for convenient and efficient shipping.
- In February 2021- Zenlabs Energy, an advanced lithium-ion cell company, announced that Idaho National Laboratory (INL) has successfully tested over 1,000 charge-discharge cycles from their high-energy Silicon anode pouch cells. Zenlabs is the recipient of $4.8 million, 50% cost share development contract from the United States Advanced Battery Consortium LLC (USABC) to develop low-cost, fast-charge electric vehicle (EV) batteries
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Key Segments Covered in the Silicon Anode Battery Industry Analysis:
By Capacity:
- Below 1500 mAh
- Between 1500-2500 mAh
- Above 2500 mAh
By Application:
- Consumer Electronic
- Automotive
- Industrial
- Grid & Renewable Energy
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
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