The Europe silicon anode battery market was valued at US$ 7.2 million in 2019 and is projected to reach US$ 45.3 million by 2027; it is expected to grow at a CAGR of 27.1% from 2020 to 2027.
The silicon anode battery market players in Europe are expected to witness a surge in demand for their products in the long run. Moreover, continuous development of silicon anode batteries is expected to proliferate the consumer electronics industry, automotive industry, and aerospace industry substantially in the next few years. The industries mentioned earlier strive hard to integrate their products with advanced technologies. Also, the dependency on batteries is at a constant rise among the OEMs. This factor is anticipated to boost the growth of the Europe silicon anode battery market. In addition, the dip in the cost involved in the manufacturing of silicon anode battery would enable the battery manufacturers to sell their products to the OEMs at a competitive price, which is another factor anticipated to fuel the growth of the Europe silicon anode battery market. Thus, encouraging OEMs to adopt the technology using the longevity parameter would certainly benefit the market players operating in the Europe silicon anode battery market.
Further, creating awareness about the benefits of silicon anode batteries among end users is of utmost importance for the battery manufacturers as the cost of the final product is expected to rise with the integration of silicon anode batteries, which would result in lesser adoption of the technology. Thus, encouraging end users to adopt the technology is anticipated to furnish the maturing rate of Europe silicon anode battery market over the years.
In Europe, Italy is the hardest-hit country by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of coronavirus cases.
The Europe silicon anode battery market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe silicon anode battery market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe silicon anode battery market.