Silicon Anode Battery Market show exponential growth by 2024

Silicon anode battery is a different kind of lithium ion battery where silicon nano tubes or anodes with silicon coating are used in place of normal anodes. Silicon anode batteries are used mostly because of its long life as well as high energy storage capacity. Use of silicon material in anodes increases the storage potential of the batteries which is comparatively useful than the lithium ion batteries. Expansion and contraction takes place as a result of lithium accumulation in the battery due to which the discharge cycle for normal silicon based anodes are generally kept short. Cylindrical cell, pouch and prismatic are the different types of silicon anode batteries by which silicon anode battery market is segmented globally. Other than this on the basis of capacity, the global market for silicon battery can be further segmented into capacity of less than 1500 mAh, 1500 to 2500 mAh and having capacity more than 2500 mAh. Silicon anode battery market has huge applications across different industry verticals globally which includes automobile, healthcare and consumer electronics among others.

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Use of silicon anode battery helps in storing more energy thereby increasing the potential of the battery. The high storage of energy helps automotive manufacturers to increase electric range of vehicles which helps in achieving the same range with less number of batteries. Use of silicon anodes further helps in reducing the cost of manufacturers. In addition to this silicon nano wires can be grown with carbon or graphite materials which further reduces the cost of the manufacturers. Further rise in demand for different type of electric vehicles would help in growth of silicon anode battery. Other than this silicon batteries are also used for usage in compatible power devices having limited space which further has a positive impact in the market for silicon batteries globally. Even though silicon anode batteries are hugely used across different industries still the huge expansion and contraction in silicon anode batteries brings in cracks. This diminishes the performance of the battery further leading to cell failure and short circuits making it one of the major reasons restraining the market for silicon anode batteries globally. Lower energy efficiency and irreversible capacity further leading to fracture of silicon anodes are some of the other challenges which are faced by the usage of silicon anode batteries.  Higher energy efficiency further provides huge growth opportunities for the usage of silicon coated batteries in future.

Global silicon anode battery market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, North America holds the major market share for silicon anode battery market globally. Rising automotive and consumer goods market has been a major driver having a positive impact in the growth of silicon anode battery market in North America. This along with rise in demand for electric bikes and vehicles which uses silicon anode batteries will further help the silicon anode battery market in North America. Asia Pacific region is expected to witness the highest growth rate for silicon anode battery market because of its huge applications in automotive sector and other industry verticals. Higher efficiency, cost savings along with presence of a large number of production units in China and South Korea among others will further help in the growth of silicon anode batteries in Asia Pacific region.

Some of the major players operating in the global silicon anode battery market include Panasonic Corporation (Japan), Zeptor Corporation (U.S.), LG Chem (South Korea), Amprius, Inc. (U.S.), Samsung SDI (South Korea), Nanotek Instruments, Inc. (U.S.), California Lithium Battery Inc. (U.S.). Enevate Corporation (U.S.),XG Sciences (U.S.), and Los Angeles Clean tech Incubator (U.S) among others present in the market globally.

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