Burlingame, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Silicon Anode Battery Market, By Application (Consumer Electronics (3G/4G Cell Phones, Laptops, Tablets, MP4 Players, Digital Cameras, Other Microelectronic Devices),Automotive (Plug-in Hybrid Electric Vehicles, Hybrid Electric Vehicles, Electric Vehicles, Electric Bicycles), Industrial, Grid and Renewable Energy), - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027,” According to the report, the global silicon anode battery market is estimated to be valued at US$ 170.0 million in 2019 and is expected to exhibit a CAGR of 21.5% during the forecast period.
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Analysts’ Views on Global Silicon Anode Battery Market
The silicon anode battery market is growing at a significant rate owing to the advancements in technology and manufacturing processes. Growing demand from electric vehicle as silicon battery offer higher energy density, which means they can store more energy and lead to longer battery life is further projected to propel the market growth.
Key Trends and Analysis of the Global silicon anode battery Market:
Ongoing research and development activities in the field is a growing trend. For instance, in September 2022, General Motors Co. and OneD Battery Sciences announced the execution of a joint research development agreement focused on the potential use of OneD's silicon nanotechnology in GM's Ultium battery cells to drive significant increases in energy density for longer range and reduced cost. GM Ventures and Volta Energy Technologies also participated in OneD's Series C funding round, which the company recently closed at $25 million.
Global Silicon Anode Battery Market - Drivers
Growing electronic industry to propel market growth
Growing electronic sector due to increasing demand for consumer electronic products is expected to fuel market growth. According to the India Brand Equity Foundation, India, considered a popular manufacturing hub, has grown its domestic electronics production from US$ 29 billion in 2014-15 to US$ 80 billion in 2021-22. The electronics sector of India contributes around 3.4% of the country's Gross Domestic Product (GDP).
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| Report Coverage | Details | |||
| Base Year: | 2019 | Market Size in 2019: | US$ 170.0 Mn | |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 | |
| Forecast Period 2020 to 2027 CAGR: | 21.5% | 2027 Value Projection: | US$ 1050.0 Mn | |
| Geographies covered (27): |
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| Segments covered: |
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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 | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Increasing use of silicon as a anode material in lithium-ion batteries is expected to foster market growth
Increasing demand for high-performance batteries due to growing demand from high-end application electronic products is expected to fuel silicon anode battery market growth. In September 2022, GDI, a global researcher and manufacturer of advanced, patented 100% silicon anode technology for next generation Li-ion batteries, has completed a major Series A funding round with EIT InnoEnergy and Helios Climate Ventures and begun pilot production in Europe
Global Silicon Anode Battery Market – Restrain
Poor life cycle of silicon materials and high production cost are expected to hamper the market growth
Factor such as the poor life cycle of silicon materials and the high production cost of the silicon batteries are expected to inhibit the growth of silicon anode battery market over the forecast period.
Global Silicon Anode Battery Market – Opportunities
Increasing penetration of electric vehicle due to technological advancement in automotive sector is expected to provide significant market growth opportunities
Penetration of electric vehicle due to ongoing advancement in automotive sector along with the rising environmental concerns is expected to serve significant market growth opportunities. According to the International Energy Agency, electric car markets are seeing exponential growth as sales exceeded 10 million in 2022. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020.
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Global Silicon Anode Battery Market - Key Developments
In March 2022, NEO Battery Materials Ltd. announce that the Company has completed a contract for the Commercial Plant’s construction, design, and permits with an architectural firm and has furthermore secured an engineering design contract for the respective plant.
In March 2023, Alkegen has launched its revolutionary silicon fiber anode material platform, SiFAB, into commercial production. Its new SiFAB production line is an extension of the company’s established large-scale manufacturing facility in New Carlisle, Indiana.
In March 2021, Unifrax, the manufacturer of high-performance specialty materials, introduced its latest proprietary technology, SiFAB™ Silicon Fiber Anode Battery Technology by Unifrax.
Key Market Takeaways:
Global silicon anode battery market is expected to exhibit a CAGR of 21.5% during the forecast period, owing to the growing demand for electronic devices such as laptops, tablets, and smartphones. Moreover, increasing penetration of internet is further projected to propel the market growth.
On the basis of application, consumer electronic segment is expected to hold a dominant position, owing to the high demand for silicon anode battery from consumer electronic such as smartphone, laptops, and tablets.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to growing demand for consumer electronic products along with the increasing penetration of electric vehicle.
Competitive Landscape:
Key players operating in the global silicon anode battery market include 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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Detailed Segmentation:
- Global Silicon Anode Battery Market, By Application:
- Consumer Electronics
- 3G/4G Cell Phones
- Laptops
- Tablets
- MP4 Players
- Digital Cameras
- Other Microelectronic Devices
- Automotive
- Plug-in Hybrid Electric Vehicles
- Hybrid Electric Vehicles
- Electric Vehicles
- Electric Bicycles
- Industrial
- Grid and Renewable Energy
- Consumer Electronics
- Global Silicon Anode Battery Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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