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.
Silicon has comparatively better technical features than graphite, hence it is used as a utility negative electrode in lithium-ion batteries. Its application within the automotive sector is expected to skyrocket especially in response to the increasing production of electronic vehicles. While the automotive sector currently holds dominance, the consumer electronics sector will trail closely, exhibiting high growth.
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According to FMI’s analysis, silicon anode battery will grow at 21.5% CAGR between 2021 and 2031.
The impact of the COVID-19 pandemic has been unprecedented on a global scale. The consequences have been wide reaching, particularly for automotive batteries. Globally, the automotive industry experienced a sharp decline in 2020. Arguably, the challenge for silicon anode manufacturers is unprecedented. The industry is still in its formative stages. Since COVID-19, there have been some observable signs of slowing down. The overseas market development, remote working trends, unavailability of raw materials, and dependency on outsourcing, were some of the key trends during pandemic.
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.
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Who is Winning?Some of the leading players operating in the silicon anode battery market are Amprius Inc, Nexeon Ltd, Enevate Corp and Boston Power 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.
Companies operating in the market have been focusing on capacity expansion and introducing innovative solutions. For instance, Canada-based startup TRION Energy has been focusing on addressing incumbent challenges by adding silicon to graphite using its low cost technology called SiMoGraph technology.
- 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