The silicon anode battery market was valued at US$ 39.3 million in 2019 and is projected to reach US$ 270.3 million by 2027; it is expected to grow at a CAGR of 28.6% from 2020 to 2027.
In 2019, APAC dominated the global silicon battery market. The consumer electronics, automotive, and renewable energy industries are expected to drive the demand for advanced silicon anode batteries in the region. In addition, the advancements in the technologies used in consumer electronics and wearable devices sectors in APAC are also fueling the growth of the silicon anode battery market in the geography. The growth of China as one of the largest li-ion battery producers, increasing 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. The manufacturing of lithium-ion battery increased in the region mainly due to their capability to deliver superior performance relative to other rechargeable batteries, and less self-discharging rate. Asian battery manufacturers dominate the market due to the robust manufacturing base established in Asia, which later enabled quick scaling up of the production volume and further development and optimization of the technology. Further, due to the growing community concern about the impact of waste lithium-ion batteries on the environment and public health, there is currently a shortage of appropriate policies and collection systems for cells in China. However, the importance of raw materials such as cobalt and nickel used in battery manufacturing has been successful in putting pressure on manufacturers and the government to regulate silicon anode battery properly. Therefore, by using appropriate policies and collection systems for lithium ion battery in China, a lot of silicon anode batteries can be manufactured and developed, which is contributing to the growth of the silicon anode battery market.
The Chinese government offered generous incentives and dished out subsidies to domestic battery manufacturers, enabling them to scale as the market grows. Such factors are anticipated to drive the growth of the silicon anode battery market during the forecast period. Further, the high energy storage capacity of silicon, growing adoption of lithium-ion battery in consumer electronics, cost-effective material, upsurge in demand for silicone anode battery in automotive industry are expected to drive China silicon anode battery market.
Silicon Anode Battery Market - Geographic Breakdown, 2019 Silicon Anode Battery Market to 2027 - Global Analysis and Forecasts by Capacity (< 1500 mAh, 1500 mAh- 2500 mAh, and > 2500 mAh); Application (Automotive, Consumer Electronics, Medical Devices, Energy & Power, Industrial, and Others)
Silicon Anode Battery Market to Grow at a CAGR of 28.6% to reach US$ 270.3 million from 2020 to 2027
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The report segments the global silicon anode battery market as follows:
Global Silicon Anode Battery Market - By Capacity
- < 1500 mAh
- 1500 mAh- 2500 mAh
- 2500 mAh
Global Silicon Anode Battery Market - By Application
- Automotive
- Consumer Electronics
- Medical Devices
- Energy & Power
- Industrial
- Others
Global Silicon Anode Battery Market - By Geography
- North America
- U.S.
- anada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
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