Silicon Battery Market Size 2023, Industry Growing Fastest with Share, Recent Demand, Trends, Developments, Revenue and Forecast to 2025


The Silicon Battery Market Size is estimated to be valued at USD 38 million in 2020 and is projected to reach USD 177 million by 2025; it is expected to grow at a CAGR of 36.2%.

Silicon batteries are the next-generation lithium-ion (Li-ion) batteries. Silicon (Si)-based materials have the highest capacity among the various investigated anode materials. Silicon anode batteries promise for a long battery life as well as long-lasting storage due to the high capacity of silicon to store electric charge. This battery technology has multiple advantages over ordinary lithium or graphite anodes such as it enables long life and high energy storage, resulting in a significantly longer-lasting battery. The growth of this market is expected to be driven by increasing R&D initiatives by battery manufacturers, the inherent advantages of silicon batteries, increasing adoption of consumer electronics, and high energy density of silicon batteries.

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Increasing Demand for Consumer Electronics

Silicon anode batteries are suited for consumer electronics, healthcare, and industrial applications because of their high energy capacity and compact design. Sustained demand from developed nations in North America and Europe and expanding Asian markets such as China, India, and South Korea are driving the need for consumer electronics. Smartphones, laptops, tablets, and wearables are a few of the key products accelerating the overall consumer electronics market. Currently, all consumer electronics products use lithium-ion batteries as the primary source of power. However, as the dependence on these smart gadgets increases, consumers seek efficient batteries that can power the devices for longer.

Significant rise in demand for Electric Vehicles

One of the significant opportunities for silicon anode batteries is their application in plug-in hybrid electric vehicles (PHEV), battery electric vehicles (BEV), and hybrid electric vehicles (HEV). Amid the rising concerns regarding climate change and pollution levels, the automotive industry has witnessed a significant rise in the demand for BEVs and PHEVs. Moreover, attractive government subsidies have also led to an increased adoption rate of electric vehicles. The positive outlook toward EV sales has encouraged automakers to increase their production. However, the limited battery capacity is a major concern for EV manufacturers. Therefore, companies are looking to improve their battery technologies and develop high energy density batteries to increase their electric vehicles' range.

Key Players:

Amprius Technologies (US), Enovix (US), and Sila Nanotechnologies (US) are among the key players in the Silicon Battery Market.

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Amprius Technologies (US) is one of the global leaders in Silicon Anode Technology. Amprius Technologies delivers lithium-ion batteries having higher energy density than standard lithium-ion batteries. Amprius supplies its batteries to smartphone and tablet OEMs. It is also working with OEMs to design custom batteries to fit into consumer electronics. The company offers silicon nanowire batteries with higher energy density, conductivity, and superior cycle life as compared with standard lithium-ion batteries. Its silicon batteries have up to 50% higher energy density than standard lithium-ion batteries with carbon anodes. Amprius has established a complete technology platform that represents the whole battery ecosystem. Amprius offers advanced lithium-ion batteries such as silicon nanowire batteries that are specifically suited for applications such as autonomous and electric vehicles, aerospace and defense, and mission-critical wearables. The company serves its customers in the US, as well as in other countries.

Enovix (US) is one of the prominent manufacturers and distributors of silicon batteries. Enovix is constructing a next-generation lithium-ion battery using its 3D cell architecture and high-capacity silicon anode. This 3D silicon lithium-ion battery offers increased energy density and enhanced safety at an economical price. This architecture enables high-capacity silicon anode and improves spatial efficiency to increase energy density. It is expected to be commercialized in 2020. This battery is supposed to be used in applications such as mobile computing, electric vehicles, and communication devices.

News Covered:

https://www.prnewswire.com/news-releases/silicon-battery-market-worth-177-million-by-2025--exclusive-report-by-marketsandmarkets-301013279.html 

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