Silicon has relatively higher technical capabilities than graphite, as a result, it’s far used as an application bad electrode in lithium-ion batteries. Its utility inside the automobile area is predicted to skyrocket in particular in reaction to the growing manufacturing of digital vehicles. While the automobile industry holds dominance, the customer electronics area will path closely, showing excessive growth.
Applications in automobile and purchaser electronics will force silicone anode batteries sales, unearths Future Market Insights (FMI) in a brand new study. According to the report, the silicon anode battery market is expected to surpass US$ 2.09 Bn by 2031. Applications of these batteries are rising steadily across industries, as a replacement anode for graphite.
Key Takeaways of Silicon Anode Battery Market Study
- The silicon anode battery market will register impressive growth, exhibiting a 21.5% CAGR between 2021 and 2031
- Expansion of consumer electronics and automotive sectors will enable the U.S. to account for over 70% of silicon anode batteries sold in North America
- Despite a year of negative growth, the U.K. will register 16% y-o-y growth in 2021, thanks to increasing sales of electronic vehicles
- Germany and France will emerge as highly lucrative markets for silicon anode batteries in Europe
- Increasing consumer electronics manufacturing and demand for state-of-the-art technologies supporting expansion in China. Japan and South Korea too will continue offering lucrative opportunities
“Silicon anode manufacturers are likely to capitalize on the increasing demand for electronic vehicles. Higher focus on environmentally-friendly technologies will continue offering attractive opportunities,” said a lead analyst at FMI.
North America currently leads the market. Europe too will exhibit increasing demand, thanks to an increased focus on the production of electric vehicles. Besides this, growth exhibited in both East and South Asia will increase at an accelerated pace especially since these regions are focusing on expanding their manufacturing facilities.
Product innovations, patent filings, technical developments, and research and battery testing have been assisting various silicon anode battery manufacturers to establish a stronghold amid competition. Aim at gaining competitive advantage is also a reason why a significant share of investment focuses on improving battery compatibility, performance, and output.
According to FMI’s analysis, silicon anode batteries will grow at a 21.5% CAGR between 2021 and 2031.
The impact of the COVID-19 pandemic has been unprecedented on a global scale. The consequences have been wide-reaching, particularly for automotive batteries. Globally, the automotive industry experienced a sharp decline in 2020. Arguably, the challenge for silicon anode manufacturers is unprecedented. The industry is still in its formative stages. Since COVID-19, there have been some observable signs of slowing down. The overseas market development, remote working trends, unavailability of raw materials, and dependency on outsourcing, were some of the key trends during the pandemic.
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Who is Winning?
Some of the leading players operating in the silicon anode battery market are Amprius Inc, Nexeon Ltd, Enevate Corp and Boston Power Inc.
The Silicon Anode Battery market is a highly competitive market dominated by regional players. These companies are striving to offer the most optimized solutions while mitigating technical challenges.
Companies operating in the market have been focusing on capacity expansion and introducing innovative solutions. For instance, Canada-based startup TRION Energy has been focusing on addressing incumbent challenges by adding silicon to graphite using its low-cost technology called SiMoGraph technology.
Related Links
https://hackmd.io/@gIcs53uxSgCBwWUrR-iMXQ/rkKgsuIN9
https://acatpg.mn.co/posts/22584689?utm_source=manual
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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