The global silicon battery market size is estimated to grow from USD 55 million in 2023 to USD 414 million by 2028, at a CAGR of 49.5%. Silicon anode batteries promise a long battery life and long-lasting storage due to the increased capacity of silicon to store electric charge. Researchers and companies have proved their greater charge capacity over traditional graphite anode. Silicon batteries can be used in various applications, from electric vehicles to medical equipment, energy, aviation, and consumer electronics. Excellent performance, long life, and greater safety make these batteries ideal for electric vehicles, energy storage, and aerospace applications.
" >10,000 mAh segment is projected to grow at significant CAGR during the forecast period”
Batteries in this range are expected to be used in energy-heavy applications such as EVs, material handling equipment, marine, robots, industrial, renewable energy storage, military, aircraft, drones, satellites, and spacecraft. The demand for lithium silicon batteries in the aviation industry will rapidly rise once silicon batteries are fully commercialized. The rising emphasis on EVs, favorable government initiatives, and the shift to sustainable mobility will also drive the market for batteries in the >10,000 mAh range. These batteries are expected to be commercialized for EVs in the coming years. Post commercialization, they are expected to gain a significant market share. Some automobile giants have already partnered with key providers of lithium silicon batteries.
“Consumer electronics industry is expected to grow at an impressive CAGR during the forecast period”
Smartphones and laptops are expected to be some of the significant future application areas requiring slimmer and lightweight products powered with silicon batteries. The launch of 5G-enabled smartphones will spur demand for more robust and smaller batteries. Improvements in laptop performance will also hinge on better and more powerful batteries. Such technological advancements will support silicon battery demand in various consumer electronics products. Some key companies in this segment include Enovix Corporation (US), Group14 Technologies, Inc. (US), and Nanospan (US). Smartphones are pervasive tools for personal and business use by consumers across the globe. The increasing use of smartphones for various purposes is expected to offer high scope to device manufacturers to produce advanced batteries with improved features. Long battery life is one such feature desired by smartphone users. Silicon batteries find application in smartphones due to their features, such as lightweight and high energy capacity. Using silicon-anode batteries will improve energy density without changing the power architecture or supporting the ecosystem of smartphones.
“The market in Europe is expected to grow at steady CAGR during the forecast period”
The European market includes the UK, Germany, France, and the Rest of Europe. The automobile sector of Europe is an advanced industry with the leanest production processes where water and energy use are optimal. The market for wearable devices is also growing in Europe. Hence, Europe has a flourishing silicon battery market, with high growth anticipated. Several organizations and governments are structuring the road map for electro-mobility and energy storage systems in this region. Thus, advanced lithium-ion batteries such as silicon anode are expected to gain massive popularity in the coming years.
Breakdown of the profiles of primary participants:
• By Company Type: Tier 1 - 45%, Tier 2 - 35%, and Tier 3 - 20%
• By Designation: C-level Executives - 40%, Directors - 45%, and Others - 15%
• By Region: North America - 46%, Europe - 21%, Asia Pacific - 25%, and RoW - 8%
Major players profiled in this report are as follows: Amprius Technologies, Inc. (US), Enovix Corporation (US), Enevate Corporation (US), NanoGraf Corporation (US), Sila Nanotechnologies, Inc. (US), Group14 Technologies, Inc. (US), Nexeon Limited (UK), and others.
In this report, the silicon battery market has been segmented based on key components, type, capacity, application, and region. The silicon battery market based on key components has been segmented into anode, cathode, electrolyte, and others. Based on type, the market has been segmented into cells and battery packs. Based on capacity, the market has been segmented into < 3,000 mAh, between 3,000-10,000 mAh, and > 10,000 mAh. Based on application, the market has been segmented into aerospace & defense, consumer electronics, automotive, medical devices, and energy. The study also forecasts the size of the market in four main regions?North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report provides insights on the following pointers:
Analysis of key drivers (High-energy density compared to other battery chemistries, Growing R&D initiatives by manufacturers for improving li-ion batteries, Increasing demand for high-capacity and lightweight batteries in consumer electronics), restraints (Volumetric expansion in silicon batteries), opportunities (Significant rise in demand for electric vehicles, Need for high-performance batteries in energy storage applications), and challenges (Poor cycle life resulting from pulverization of Si particles during volumetric fluctuations, High manufacturing costs) influencing the growth of the silicon battery market
Product Development/Innovation: Detailed insights on upcoming products, technologies, silicon anode materials, research & development activities, funding activities, industry partnerships, and new product launches in the silicon battery market
- Market Development: Comprehensive information about lucrative markets – the report analyses the silicon battery market across regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the silicon battery market
- Competitive Assessment: In-depth assessment of market ranks, growth strategies, and product offerings of leading players like Amprius Technologies, Inc. (US), Enovix Corporation (US), Enevate Corporation (US), Sila Nanotechnologies, Inc. (US), Group14 Technologies, Inc. (US), Nexeon Limited (UK), and NanoGraf Corporation (US) among others in the silicon battery market
- Strategies: The report also helps stakeholders understand the pulse of the silicon battery market and provides them information on key market drivers, restraints, challenges, and opportunities.