Silicon Anode Battery Market's Future Plans and Dynamic Growth Analyzed with Comprehensive Insights

Rechargeable batteries have become one of the effective ways to store energy in response to the growing demand for energy and the quickly decreasing fossil fuel resources. Lithium-ion batteries have entered the picture as a sophisticated storage system with great capacities thanks to the ongoing technological advancements in power electronics and vehicles. Lithium-ion batteries with silicon anodes are the silicon anode batteries. Due to its theoretically limited capacity, the traditional anode material for lithium-ion batteries, graphite, is unable to meet the high energy requirements of advanced electric vehicles. In contrast, silicon stores ten times as much lithium as the graphite anode, resulting in an increased energy density that enables quick charging and high current delivery. As a result, silicon anode batteries are replacing graphite batteries.

Due to its low discharge potential and extreme charge capacity, silicon anode could provide faster charging, greater current delivery and smaller battery size. However, large volume change during the electrochemical process remains the major challenge in wide commercialization of silicon anode batteries. Silicon anode battery is expected to emerge as next generation of lithium-ion batteries. The silicon anode battery market is still between the introduction and growth phase when plotted on product life cycle. Huge investments by market leaders are being made to further develop silicon anode battery technology and bring it on practical grounds and thus the market is expected to hold significant growth potential.

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Silicon Anode Battery: Market Dynamics
The major factor contributing to the growth of the silicon anode battery market is the increasing energy requirements from various end-use applications such as consumer electronics and automotive, for more efficient and advanced battery. Further, robust growth of the automotive industry and turning the focus towards EVs could generate significant opportunities for growth of the silicon anode battery market. Lower working potential and high charge capacity of silicon anode battery could help automotive manufacturers to reach required power ranges by deploying less number of batteries thus achieving high performance. Moreover, an abundance of raw material i.e. silicon can turn as a major factor driving its application into lithium-ion batteries.

Major challenges faced in the silicon anode battery market are limited commercialization of the product due to existing technical challenges particularly large volumetric expansion. Furthermore, high costs of silicon anode battery as compared to available alternatives is also a factor restraining market growth. The major trends observed in the silicon anode battery market is product development and innovation such as use of nanowire battery with silicon anodes as they allow improved accommodation of volume changes during lithiation. A number of players in the market have filed patents over different advancements in silicon anode battery technology

Silicon Anode Battery: Market Segmentation
The silicon anode battery market can be segmented on the basis of: application and region.
On the basis of application the silicon anode battery market can be segmented into:
Consumer electronic devices
Medical applications (pacemaker, defibrillator machines)
Automotive
Space & defense
Sustainable energy (wind turbine and photovoltaic)
The silicon anode battery market can be segmented on the basis of region into: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, Middle East and Africa

Silicon Anode Battery: Regional Outlook
North America holds a major share in the silicon anode battery market due to the substantial growth in the automotive industry and consumer electronics section. Europe and North America collectively holds over 50% share in the market owing to demand from the industrial sector. However, Asia Pacific silicon anode battery market is expected to grow significantly over the forecast period due to rapid industrialization and increasing awareness about the use of energy-efficient, reliable, safe and economical battery systems.

Silicon Anode Battery: Key Players
Some of the major key players identified in the silicon anode battery market are: Nexeon Limited, BYD Company Limited, Amprius Inc., ENOVIX, Boston-Power, Inc., LG Chem Ltd., Panasonic Corporation, Samsung SDI, XG Sciences, Zeptor Corporation, California Lithium battery Inc, Yuasa battery Europe Ltd., JTT Electronics Ltd, Vmcell Technology Co., Ltd, Enevate Corporation, Nanotek Instruments.

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Silicon Anode Battery Market by Segments

Capacity:

Below 1500 mAh
Between 1500-2500 mAh
Above 2500 mAh

Application:

Consumer Electronics
Smart Phones
Laptops
Tablets
MP4 Players
Digital Players
Other Microelectronic devices
Automotive
Plug in Hybrid Electric Vehicles
Hybrid Electric Vehicle
Electric Vehicle
Electric Bicycle
Industrial
Grid & Renewable Energy

Region:

North America
Latin America
Europe
East Asia
South Asia-Pacific
Middle East & Africa

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.