Applications in automotive and consumer electronics will drive silicone anode batteries sales, finds Future Market Insights (FMI) in a new study. According to the report, the silicon anode battery market is expected to surpass US$ 2.09 Bn by 2031. Applications of these batteries are rising steadily across industries, as a replacement anode for graphite.
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In comparison to a graphite anode, a silicon anode offers various competitive benefits. A silicon anode battery offers higher energy densities and more theoretical capacity than conventional anodes. They are used in applications which require fast charging, preferred for applications requiring more duration between two charging cycles and better compatibility with lithium ions. Silicon anode battery is a sustainable product since it is environment friendly and it can be recycled. These batteries are seen as potential candidates for powering equipment and devices in future.
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.
By Segmentation:
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,
Some of the leading companies are investing in research and development activities to gain competitive advantage. Product development strategies and product positioning are adopted by suppliers to establish a stronger foothold in the market. They are partnering with technical service providers to gain technical expertise in the field. With companies around the world increasingly focusing on research initiatives, expansion is on the card.
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Competitive Analysis:
Some of the leading players operating in the silicon anode battery market are Amprius Inc, Nexeon Ltd, Enevate Corp and Boston Power Inc.
Some of the leading companies operating in the market are:
Amprius Inc, Nexeon Ltd, Enovix Corporation, Enevate Corporation, Nanograf Corp, Sila Nanotechnologies Inc, Boston Power Inc, XG Sciences Inc, Eocell Inc, Nanotek Instruments Inc, Zenlabs Energy Inc.
The Silicon Anode Battery market is a highly competitive market dominated by regional players. These companies are striving to offer the most optimized solutions while mitigating the technical challenges.
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