The global silicon battery market size is estimated to grow from USD 38 million in 2020 to USD 177 million by 2025; it is expected to grow at a CAGR of 36.2%. The growth of this market is likely to be driven by the excellent features of silicon-based anode leading to the improvement of li-ion batteries, increasing adoption of consumer electronics, growing R&D initiatives by different organizations & battery manufacturers, and its high energy density compared with other metal anodes. The report covers the market segmented into capacity, application, and geography.
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Consumer electronics application segment held the largest share of silicon battery market in 2019
Based on the application, the silicon battery market for consumer electronics held the largest size in 2019. Continuous technological developments in consumer electronics have boosted the growth of this market. Silicon batteries offer higher density, better durability, and more energy storage compared with li-ion batteries. Consumer electronics require power sources that have high energy and power density to run the devices smoothly. Therefore, silicon batteries have a high demand from the consumer electronics sector.
The demand for capacity ranging from 3,000 mAh to 10,000 mAh is expected to grow significantly during the forecast period
Silicon batteries with capacity ranging from 3,000 mAh to 10,000 mAh are used in a majority of industries such as consumer electronics, electric vehicles, power tools, and aviation, in the form of individual cells or as battery pack modules. They are the most commonly available silicon batteries and have a huge demand in the market. These batteries are used for products that require moderate-to-high energy to function. Silicon batteries with this capacity range are expected to be adopted significantly in numerous applications in the future. Moreover, with the increasing usage of consumer electronics and increasing renewable energy projects worldwide, the adoption of silicon batteries is expected to grow significantly during the forecast period
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.
Key Market Players
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 global silicon battery market.
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