According to the new market research report "Silicon Battery Market by Capacity (0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, and 60,000 mAh & Above), Application (Consumer Electronics, Automotive, Aviation, Energy, and Medical Devices), and Region - Global Forecast to 2025", is estimated to grow from USD 38 million in 2020 to reach USD 177 million by 2025 at a CAGR of 36.2%. The silicon battery industry is likely to exhibit lucrative growth potential during the forecast period.
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APAC to dominate silicon battery industry during the forecast period
APAC dominated the global silicon battery market in 2019. The automotive, consumer electronics, and renewable energy industries are expected to drive the demand for advanced batteries in the region. The advancements in the technologies used in wearable devices and consumer electronics sectors in APAC are fueling the growth of the silicon anode battery market in the geography.
The emergence of China as one of the largest li-ion battery producers, growth in the adoption of electric vehicles and renewable energy sources, and increasing R&D activities on new battery technologies by various countries in APAC are among the additional factors that are driving the growth of the silicon battery market.
Europe accounted for the second-largest share of the global silicon battery market in 2019. Extensive investments in the R&D of battery production and well-established automotive sector in Germany, high adoption of electric vehicles in developed countries, and investments by governments for increasing the battery production are the key factors driving the market in this region. Government initiatives and policies for encouraging the use of battery-powered vehicles are also among the driving factors for the increasing demand for silicon batteries in this region.
Amprius Technologies (US), Enovix (US), Huawei (China), Enevate (US), Nanotek Instruments (US), Nexeon (UK), LeydenJar Technologies (The Netherlands), Targray Technology International (Canada), XG Sciences (US), California Lithium Battery (US), Sila Nanotechnologies (US), and Group14 Technologies (US), among others, are the major players operating in the silicon battery market.
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