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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Factors such as high energy density compared to other battery chemistries, growing number of R&D initiatives by manufacturers for improvements in Li-Ion batteries, increasing adoption of consumer electronics, and excellent features of silicon-anode based are fueling the growth of the silicon battery market. Moreover, significant rise in demand for electric vehicles and need for high-performance batteries in energy storage applications is expected to create growth opportunities for the market.
APAC to exhibit the largest market size during the forecast period
The silicon battery market in APAC is expected to grow at the highest CAGR during the forecast period. The vast population in this region leads to an increased energy demand, which eventually increases the need for fossil fuel-based energy generation and leads to renewable energy integration creating the need for batteries. Moreover, other applications such as automotive and consumer electronics are expected to drive the demand for advanced batteries in the region. Also, APAC is the home to some of the prominent players such as Connexx Systems (Japan) and Huawei (China) that provide silicon batteries for different applications. These factors contribute to the high growth of the Silicon battery market in APAC.
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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