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| Silicon Anode Battery Market |
Silicon anode batteries are next-generation lithium-ion batteries that utilize silicon as the anode material instead of graphite. Silicon improves energy density significantly as it has the ability to store up to 10 times more lithium ions than graphite. Silicon anode batteries offer higher storage capacity, improved charging rates, and longer lifecycles compared to conventional lithium-ion batteries.
The
global Silicon Anode Battery Market is estimated to be valued at US$ 370.47 Mn in 2023 and is expected
to exhibit a CAGR of 21% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increased adoption of consumer electronics such as laptops, smartphones,
and other portable devices is a key factor propelling the growth of the silicon
anode battery market. Silicon anode batteries with high energy density allow
devices to operate for longer duration without frequent charging. They also
support fast charging capabilities. Thus, silicon anode batteries are
increasingly being used in consumer electronics. The rapid growth of the
electric vehicle industry is another major trend augmenting the silicon anode
battery market. The high energy density and superior lifecycle of silicon anode
batteries make them suitable for use in electric vehicles to increase driving
range on a single charge. Major automakers are investing in developing electric
vehicles with silicon anode batteries.
Segment
Analysis
The global silicon anode battery market is dominated by lithium-ion batteries
with silicon anodes sub-segment. This sub-segment holds around 65% of the total
market share due to silicon's ability to alloy with lithium. When compared to
traditional graphite anodes, silicon anodes can store around 10 times more
lithium ions per unit area which significantly improves the battery capacity.
Key Takeaways
The global Silicon
Anode Battery Market Growth is expected to witness high growth over the
forecast period of 2023 to 2030. The market is projected to expand at a CAGR of
21% during this period and reach a size of US$ 2,208.56 Mn by 2030 from US$
370.47 Mn in 2023.
Regional analysis:
Among regions, Asia Pacific currently accounts for the largest share of around
35% of the global silicon anode battery market. Countries such as China, South
Korea, and Japan are global leaders in battery production. Additionally, the
growing demand for electric vehicles and consumer electronics in the region is
driving the silicon anode battery market growth. North America is expected to
witness the fastest growth over the forecast period owing to government
initiatives to promote green transportation.
Key players:
Key players operating in the silicon anode battery market include Nexeon
Limited, Enevate Corporation, OneD Material, XG Sciences Inc., Nanotek
Instruments, Inc., Zeptor Corporation, California Lithium Battery, Amprius,
Inc., and Connexx Systems Corporation. Nexeon Limited holds a major share of
around 15% in the global market due to its widespread product portfolio and
geographically diversified manufacturing facilities.
For more insights, read- https://www.ukwebwire.com/silicon-anode-battery-market-trends-size-and-share-analysis/
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