The Global Silicon Anode Battery Market was valued at USD 24.5 Mn in 2020 and is expected to reach USD 205.5 Mn by 2027, with a growing CAGR of 35.5% during the forecast period.
Silicon anode battery is also called next-generation li-ion batteries that use silicon as an anode to offer more than 10 times theoretical capacities in comparison to the lithium-ion battery. They are essentially an extension of lithium-ion battery which increase the energy storage capacity and increase the life of the battery. They are extensively used throughout diverse industries which includes automotive, consumer electronics, and grid & renewable energy.
The increasing demand for electric vehicles across the globe is one of the significant factors that drive the silicon anode battery market growth during the forecast period. The increasing demand for EVs is mainly due to the increasing pollution through conventional vehicles. Moreover, the supportive government initiatives across the globe to adopt EV provides a lucrative opportunity for the growth of the silicon anode battery industry. For instance, the National Electric Mobility Mission Plan (NEMMP) introduced by the Indian Government published in 2020 is a National Mission document that offers the vision and roadmap for the faster adoption of electric vehicles as well as their manufacturing. Under this plan, the government has endorsed Phase-II of the FAME Scheme with a spending of USD 1.3 bn for a time of 3 years beginning from first April 2019. Out of complete budgetary help, around 86% of the asset has been allotted for demand incentives to drive the demand for EVs.
Based on the capacity, the 3,000-10,000 mAh segment is expected to dominate the silicon anode battery market during the forecast period owing to the high capacities with unmatched capabilities
Based on the capacity, the silicon anode battery industry has been segmented into below 3,000 mAh, 3,000-10,000 mAh, 10,000-60,000 mAh, and above 60,000 mAh. The 3,000-10,000 mAh segment is expected to dominate the silicon anode battery market during the forecast period due to its high capacities with unmatched capabilities. Silicon batteries with this range is the most demanded and used batteries in the market. These batteries are used in majority of sectors such as consumer electronics, electric vehicles, aviation, and power tools, in the form of individual cells or as battery pack modules. Silicon batteries of this range are also known to have higher efficiency up to 85-90% and also have a stable cycling performance over 200+ cycles.
Based on the application, the consumer electronics segment is expected to dominate the silicon anode battery market during the forecast period owing to the need of the industry to use highly reliable power sources
Based on the application, the silicon anode battery industry is segmented into automotive, consumer electronics, aviation, energy, and medical devices. The consumer electronics segment is expected to dominate the silicon anode battery market during the forecast period owing to the need of the industry to use highly reliable power sources. Consumer electronic products are highly dependent on portable power sources to ensure reliability and better performance which makes lithium silicon batteries an ideal choice for these modern devices. For instance, several startup companies such as Huawei (China) have developed next-generation li-ion batteries and are focusing on the development of cells that have a high energy density, high power density, and long battery life. Further, continuous technological developments in consumer electronics have boosted the growth of the market.
Based on region, the Asia Pacific is expected to dominate the silicon anode battery market during the forecast period
The Asia Pacific is expected to dominate the silicon anode battery market during the forecast period owing to the increasing industries such as automotive, consumer electronics, and renewable energy. Moreover, the advancements in the technologies used in wearable devices and the consumer electronics sector drive the growth of the market. In the Asia Pacific region, China is one of the largest li-ion battery producers. For instance, according to secondary sources, in 2020, China produced 77% of lithium-ion batteries alone. Furthermore, growth in the adoption of electric vehicles and renewable energy sources, and increasing R&D activities on new battery technologies by various countries in the region are one of the important factor that propel the growth of the silicon anode battery industry during the forecast period.
The report also provides an in-depth analysis of Silicon Anode Battery market dynamics such as drivers, restraints, opportunities, and challenges:
COVID-19 Impact on the Silicon Anode Battery Market Analysis:
The COVID-19 pandemic has negative impacted the growth of the silicon anode battery market owing to the strict lockdown imposed by the government across the globe. This resulted in the disruption of supply chain of raw material, product & services and others. Moreover, the silicon anode battery is highly dependent upon the growth of the automotive and consumer electronics industry. In the COVID-19 era, the automobile sales significantly impacted due to the lockdowns. For instance, according to the International Organization of Motor Vehicle Manufacturers, the global auto production in 2020 was severely hit by the COVID-19 crisis with a 16% drop in world auto production. However, government initiatives towards electric vehicles across the globe supported the growth of the EV market. Thus, accelerated the silicon anode battery market during the forecast period.
*Note: A detailed analysis is specific to the silicon anode battery market will be provided in the report
The report also provides an in-depth analysis of key trends in the silicon anode battery market:
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Market Overview & Competitive Landscape:
Market Segmentation (Market Size and Share Analysis):
COVID – 19 Opportunity Mapping:
Regional Market Analysis: