Silicon Battery Market Size to Reach USD 1,989.6 Million by 2032 | CAGR: 44.6% | DataHorizzon Research
Fort Collins, Colorado, Sept. 05, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “Silicon Battery Market Size, Share, Growth, Trends, Statistics Analysis Report, By Type (Cylindrical Cell, Pouch And Prismatic), By Capacity (3,000mAh, 3,000–10,000mAh, 10000mAh-60000mAh And >60,000mAh), By Component, By End-use, By Region And Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, the silicon battery market size was valued at USD 50.2 Million in 2022 and is anticipated to be USD 1,989.6 Million by 2032 at a CAGR of 44.6%. Low energy density is a major concern for graphite batteries. Silicon is used as an anode in the positive terminal of batteries that offers standard energy density and enables the batteries to run longer.
The silicon battery market growth is induced due to technological advancements in end-use applications and quick charging. Moreover, the growing initiatives by the manufacturers to improve battery features are projected to contribute to market development in the forthcoming years. Additionally, the government initiatives towards the electrification of automobiles supplement the market growth.
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|Report Title||Silicon Battery Market|
|Market Size in 2022||USD 50.2 Million|
|Market Size by 2032||USD 1,989.6 Million|
|CAGR from 2023 to 2032||44.6%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Report Scope & Coverage||Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors|
|By Type||Cylindrical Cell, Pouch and Prismatic|
|By Capacity||<3,000mAh, 3,000–10,000mAh, 10000mAh-60000mAh and >60,000mAh|
|By Component||Cathode, Anode, Electrolyte and Others|
|By End-use||Consumer Electronics, Automotive, Aerospace & Defense, Medical Devices, Energy and Others|
|Region||North America, Europe, Asia Pacific, Latin America, and Middle-East & Africa|
|Countries Covered||U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia and South Africa|
|Major Market Players||Panasonic Corp., LeydenJar Technologies, California Lithium Battery Inc., Nanotek Instruments Inc., Amprius Technologies Inc., XG Sciences, Sila Nanotechnologies Inc., Huawei Technologies, Enovix Corporation, Enevate Corporation, NanoGraf Corporation, Group14 Technologies, Inc., and Nexeon Limited|
The global silicon battery market has been segmented as type, capacity, component, end-use, and region. The <3000 mAh segment resulted in high growth in 2022, attributed to the extensive use of semiconductors in the consumer electronics industry. These devices can run with a power range of <3000 mAh. Based on end-use, consumer electronics accounted for a significant market share in 2022 due to the surging demand for portable computers, laptops, tablets, and smartphones.
Based on region, the Asia Pacific dominates the global market, attributed to the growing use of silicon batteries in portable devices. The growing trend of electric vehicles in Asia Pacific is one of the prominent factors for the increased demand for silicon batteries in the region. Moreover, adopting innovative strategies between the key players will likely attract more growth in the coming years.
Key Developments in the Industry:
- In 2023, Enevate partnered with South Korea’s JR Energy Solution to launch a cell electrode manufacturing unit in the U.S. In the recent past, Evenate accredited its leading silicon-dominant XFC technology to JR Energy Solution for future applications. The partnership allows both companies to design the battery cell electrode manufacturing unit in the U.S., which will likely strengthen Evenate’s market manufacturing portfolio. The new facility is aimed to cater to customer’s requirements and accelerate production using state-of-the-art tools and techniques.
- In 2022, several startups raised significant funding to venture high in the energy industry. For instance, Amprius Technologies, Group14 Technologies, Sila Nanotechnologies, received nearly USD 250 million in combined funding in October 2022. Late in December, Group14 received another USD 214 million as a private investment to build 20 GW factory to produce silicon material for electric vehicles.
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Silicon Battery Market Report Highlights:
- The silicon battery market share will likely achieve a CAGR of 44.6% by 2032.
- The technological advancements in silicon batteries are also leading to different applications of silicon batteries and a surge in demand.
- The <3000 mAh dominated the global market in 2022 based on capacity. These battery types are small and commonly used in consumer electronics like IoT and wearable devices.
- The consumer electronics segment is leading in the end-use category due to the rising demand for smartphones and laptops.
- Based on region, the Asia Pacific dominated the silicon battery market in 2022 due to the high production of semiconductors and electrical components.
- Some of the prominent players in the silicon battery market report include Panasonic Corp., LeydenJar Technologies, California Lithium Battery Inc., Nanotek Instruments Inc., Amprius Technologies Inc., XG Sciences, Sila Nanotechnologies Inc., Huawei Technologies, Enovix Corporation, Enevate Corporation, NanoGraf Corporation, Group14 Technologies, Inc., and Nexeon Limited
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Silicon Battery Market Segmentation:
Silicon Battery Market, By Type (2023-2032)
- Cylindrical Cell
Silicon Battery Market, By Capacity (2023-2032)
Silicon Battery Market, By Component (2023-2032)
Silicon Battery Market, By End-use (2023-2032)
- Consumer Electronics
- Aerospace & Defense
- Medical Devices
Silicon Battery Market, By Region (2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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