The global silicon battery market size is expected to grow at a CAGR of 36.2% from 2020 to 2025, reaching USD 177 million by 2025 from USD 38 million in 2020
NEW YORK, March 5, 2020 /PRNewswire/ --
Increasing usage of consumer electronics propelling the growth of the silicon battery market.
The global silicon battery market size is expected to grow at a CAGR of 36.2% from 2020 to 2025, reaching USD 177 million by 2025 from USD 38 million in 2020. Consumer electronics require power sources that have high energy and power density to run the devices smoothly; hence all consumer electronics products use lithium-ion batteries as the primary source of power.
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Sustained demand from developed nations in North America and Europe and expanding Asian markets such as China, India, and South Korea are driving the sales of consumer electronics.Moreover, safety concerns related to lithium-ion batteries, such as instances of explosion and fire, are pushing the manufacturers to develop safer batteries with high energy density.
Therefore, the increased consumer requirements and the other factors above have created a significant opportunity for the growth of the silicon battery market.
Silicon batteries with a capacity range of 3,000–10,000 mAh accounted for the largest share during the forecast period.
Silicon batteries with a voltage range of 3,000–10,000 mAh are expected to hold a significant share of the silicon battery market during the forecast period.Silicon batteries with a capacity range between 3000 mAh and 10,000 mAh are the most commonly available silicon batteries and have a massive demand in the market.
These batteries are used for products that require moderate-to-high energy to function.
Applications such as consumer electronics, wearable devices, medical devices, energy harvesting, entertainment, and wireless communication require a power source with a capacity of between 3,000 mAh and 10,000 mAh to operate. Also, Silicon batteries in this range have a higher cycle efficiency and excellent stable cycling performance which makes it a perfect choice for various applications.
Silicon battery market in APAC to witness the highest growth rate in coming years
The silicon battery industry in APAC is expected to grow at the highest CAGR from 2020 to 2025.The automotive, consumer electronics, and energy end-use applications are expected to drive the demand for advanced batteries in the region.
Various efforts made by different regulatory authorities to promote environment-friendly products have led to an increase in the demand for silicon anode batteries in APAC.
Low-cost lithium production, rise in R&D activities for improvements in anode materials, substantial investments by battery companies for the commercialization of silicon batteries, and an increase in the adoption of electric vehicles in developed countries of APAC have driven the regional silicon battery market. Other factors, such as an increase in renewable energy investments, expansion of power generation capacities, and a decline in battery costs due to anode technology advancements, are further fueling the said market in the APAC region.
To determine and verify the market size of several segments and subsegments, extensive primary interviews have been conducted with key personalities in the Silicon battery market. Following is the breakup of the primary participants:
• By Company Type: Tier 1 = 45 %, Tier 2 = 35%, and Tier 3 = 20%
• By Designation: C-Level Executives = 40%, Directors = 45%, and Others = 15%
• By Region: North America = 30%, Europe = 20%, APAC = 35%, and RoW = 15%
The report profiles the key players in the silicon battery market and analyzes their market rankings. A few prominent players profiled in this report include Amprius Technologies (US), Enovix (US), Huawei (China), Enevate (US), Nanotek Instruments (US), Nexeon (UK), LeydenJar Technologies (The Netherlands), Targray Technology International (Canada), XG Sciences (US), California Lithium Battery (US), Sila Nanotechnologies (US), and Group14 Technologies (US).
Research Coverage:
This research report categorizes the silicon battery market by capacity, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain and market ranking analysis.
Reasons to Buy the Report:
The report would help leaders/new entrants in the silicon battery market in the following ways:
1. The report segments the silicon battery market comprehensively and provides the market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the silicon battery market. The competitive landscape section describes the competitor ecosystem.
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