According to a new market report published by Credence Research, Inc., “Global Silicon Anode Battery Market (By Cell Type (Cylindrical, Prismatic, Pouch), By Capacity (Below 1,500 mAh, 1,500 to 2,500 mAh, Above 2,500 mAh), By Application (Electric Vehicle, Consumer Electronics, Electric Power Grids, Others) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global silicon anode battery market is expected to touch US$ 2.86 Bn in 2027, witnessing a growth of 31.07% CAGR across the forecast period of 2019 to 2027.
Growth in demand for battery-powered consumer electronics products accompanied by superior properties of silicon anode battery are driving the market worldwide. It is estimated that the growth will hike from 2021 and will continue with 31.07% CAGR through the forecast period. Along with consumer electronics, electric vehicles is another major segment pushing the CAGR upward. In recent years, there is global rise in demand for electric vehicle driven by appreciating fuel prices and growing concern about air pollution. However, large volume change of silicon, when lithium is added in battery is hampering the market growth. Nevertheless, the players are investing heavily in R&D for removing this problem of silicon anode. Overall, above aspects are expected to foster the growth of silicon anode battery market worldwide, reaching US$ 2.86 Bn in 2027.
Based on application, consumer electronics segment accounted for over 40% revenue share in the global silicon anode battery market in 2018. Increasing popularity of smartphones is the major factor driving the consumer electronics segment; which in turn increases the demand for silicon anode battery. With the growing trade of battery operated consumer electronics product globally, it is estimated to remain dominant during the forecast period.
On the basis of geography, Asia Pacific is expected to be the major market for silicon anode batteries during the forecast period. Large number of young population, particular in China and India, has ensured high demand for consumer electronics products such as smartphones and tablets. Furthermore, electric car market in China is booming at high rate. Home-grown start-ups, increasing charging network in major cities and favorable government policies such as provision of subsidy making it the largest electric vehicle market of the world. This in turn influenced the demand for silicon anode battery. It is estimated to be the fastest growing region during the forecast period. Major market players, in particular, Samsung SDI Co. Ltd., Panasonic Corporation and Nexeon Ltd. are present in the region and investing heavily in silicon anode battery technology. In 2018, the region acquired nearly 30% share of global silicon anode battery market revenue.
The overall silicon anode battery market is quite competitive in nature with market players focused on investing in R&D to improve its current technology. For instance, in October 2019, Airbus Defense and Space invested in current equity funding of Amprius Technologies for developing new generation silicon anode batteries which will be based on silicon nanowire anode technology. This financing will further help for expanding production capabilities of silicon anode batteries. Furthermore, in November 2019, Sila Nanotechnologies Inc. got an investment of US$ 45 Mn from Canada Pension Plan Investment Board. With this fund, company’s overall funding add up to US$ 340 Mn, including earlier funds from Daimler and BMW. Having investment from major automobile companies like BMW and Daimler, the company is expected to gain major share in electric vehicle battery market.
Some of the major companies profiled in the report include Amprius Technologies, Enovix, Sila Nanotechnologies Inc., Nexeon Ltd., Samsung SDI Co. Ltd., Nanotek Instruments, Inc., OneD Material, LLC, Enevate Corporation, California Lithium Battery, Targray Technology International Inc. and Panasonic Corporation among others.
Our Blog: Home – Target Market Size