Silicon Anode Battery Market Size, Trends & Growth Report, 2035

Global Silicon Anode Battery Market Size, Forecast, and Trend Highlights Over 2023 – 2035

Silicon Anode Battery Market size is estimated to reach ~USD 211 Billion by the end of 2035 by growing at a CAGR of ~68% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of silicon anode battery was ~USD 2 Billion. The growth of the market can be attributed to growing demand for electric vehicle. The total number of electric vehicle sales in March 2023 increased by about 30% month over month to approximately 1,39,788 units in India. Sales of electric vehicles rose to about 80% year over year from March 2022 to March 2023. Hence, the demand for silicon anode battery growing. Compared to conventional graphite anode batteries, silicon anode batteries have a number of benefits, including a higher energy density and quicker charging periods, which makes them more ideal for usage in EVs.

Additionally, the usage of silicon anode batteries in EVs might be able to assist with some of the major difficulties the EV industry is now facing, including range anxiety and charging times. Silicon anode batteries might make EVs more feasible and convenient for consumers by offering longer run times and quicker charging. Moreover, many key players are also offering silicon anode batteries which would have the quicker charging in order to satisfy the customers. For instance, Enovix claimed to have proven in 2022 that its silicon-based EV battery could be charged from empty to about 79 percent capacity in as little as approximately 4 minutes, and to more than about 97 percent capacity in under 10 minutes. Hence, this is estimated to boost the demand for electric vehicles, further boosting the market growth over the forecast period.

Global Silicon Anode Battery Market: Growth Drivers and Challenges

Growth Drivers

Rise in Adoption of Smartphones -With about 5 billion smartphone users worldwide as of 2023, approximately 85% of the world's population would be smartphone owners. To provide longer battery life and quicker charging periods, certain smartphone makers are investigating the usage of silicon anode batteries in their products. According to research, silicon anode batteries have the potential to greatly boost smartphone performance by enabling longer runtimes and quicker charging. Although silicon anode batteries are not currently utilized in a large number of smartphones, they have the potential to offer considerable advantages in terms of battery life and charging times, therefore it is feasible that this technology would be utilized in more smartphones in the future.
Growing Electric Vehicles Charging Station -By 2030, at least about 4 million active public charging stations would be required, up from the estimated 374,000 EV charging stations in Europe in 2021.
Surge in Launch of Small Spacecraft -Over 1,700 of the 1,849 spacecraft that were launched in 2021 in NASA had a mass of less than 600 kg, known as small satellites. From 2012 through 2021, more than 82% of all spacecraft launched were small satellites, accounting for 16% of all mass launched. For small satellite (small sat) applications that demand extended life, high energy density, and quick charging periods, silicon anode batteries are a viable technology. Small satellites are frequently employed for a variety of purposes, including communication, earth observation, and scientific study, and they frequently need dependable power sources with high energy densities.
Growth in Operation of Power Grid -As of October 31, 2022, POWERGRID owned and operated 269 EHV AC & HVDC Sub-stations with a total transformation capacity of 4,89,912 MVA in addition to about 1,73,720 ckm of Extra High Voltage (EHV) transmission lines dispersed across India. Hence, the demand for silicon anode battery is growing. Batteries with silicon anodes are appealing for ESS applications since they provide a number of benefits over conventional lithium-ion batteries with graphite anodes. In order to increase the overall effectiveness and dependability of the power grid, silicon anode batteries, for instance, have a better energy density, a longer lifespan, and faster charging times.
Upsurge in Greenhouse Gases Emission -Global carbon dioxide emissions from industry and fossil fuels totaled about 36 billion metric tons (GtCO2) in 2021.

Challenges

High Cost of Silicon Anode Battery
Complex Manufacturing Process - Compared to conventional graphite anode lithium-ion batteries, the manufacture of silicon anode batteries is more difficult. This is owing to the fact that silicon expands its volume more during charging and discharging cycles, which could shorten the lifespan of the battery and cause deterioration over time.
Strict Government Regulations

Global Silicon Anode Battery Market Segmentation

The global industry is segmented and analyzed for demand and supply by application into consumer electronics, automobile, medical devices, industrial, and energy harvesting. Out of which, the medical devices segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to the growing demand for health tacking devices such as wearables. As of 2020, about 29% of adult Americans utilized wearable technology for healthcare. Silicon anode batteries could be used in wearable electronics including smartwatches, fitness trackers, and other wearable gadgets. In wearable electronics, silicon anode batteries have a number of advantages, including longer battery life and quicker charging periods. The reduced size and lighter weight of silicon anode batteries also make them ideal for wearable devices that need a portable power source. Moreover, implantable medical devices including pacemakers, defibrillators, and neurostimulators may be powered by silicon anode batteries. Additionally, silicon anode batteries could also be used to power portable medical equipment including blood glucose meters, ultrasound machines, and EKG monitors.

The global silicon anode battery market is also segmented and analyzed for demand and supply by capacity into less than 1500 mAh, 1500 mAh to 2500 mAh, and above 2500 mAh. Amongst which, the above 2500 mAh segment is expected to have the significant growth over the forecast period. Since they offer longer run periods between charges, batteries with a higher capacity are typically more in demand. Comparing silicon anode batteries to conventional graphite anode lithium-ion batteries, the former's superior energy density enables them to offer a higher capacity. As a result, they are appealing for use in battery-intensive applications such portable devices, energy storage systems, and electric cars. Hence, with the growing demand for these applications the demand for this segment is anticipated to grow further boosting the market growth.

Our in-depth analysis of the global silicon anode battery market includes the following segments:

By Capacity

Less Than 1500 mAh
1500 mAh to 2500 mAh
Above 2500 mAh

By Application

Consumer Electronics
Automobile
Medical Devices
Industrial
Energy Harvesting

Global Silicon Anode Battery Market Regional Synopsis

The market share of silicon anode battery in North America, amongst the market in all the other regions, is projected to have the highest growth by the end of 2035, backed by growing demand for electric vehicles along with rising environmental concerns. Between 2020 and 2021, the number of electric vehicle sales virtually doubled, from about 307,000 to over 600,000 in the United States. In March of this year, businesses sold more than 55,000 EVs. Also, governments in North America are encouraging the use of renewable energy sources and electric automobiles. The employment of energy-efficient and low-emission technologies is supported by incentives, subsidies, and laws. A promising strategy to lower greenhouse gas emissions and boost energy efficiency is the use of silicon anode batteries in electric vehicles and renewable energy storage systems. Moreover, the performance and dependability of silicon anode batteries are the main areas of research and development in North America, which is encouraging the usage of this technology. The problems with silicon anode batteries, such as capacity deterioration and safety concerns, are being addressed in North America with innovations including the utilization of silicon-carbon nanocomposites and solid-state electrolytes.

The European silicon anode battery market is estimated to be the second largest, to have the highest growth over the forecast period. The aim to achieve energy independence and lessen reliance on fossil fuels is driving an increase in demand for renewable energy sources in Europe. An appealing option for energy storage systems, silicon anode batteries could be utilized to store renewable energy produced from sources including solar and wind energy. Moreover, several top battery producers, such as Northvolt, Tesla, and CATL, are based in Europe and are substantially investing in the research and development of cutting-edge batteries, including silicon anode batteries. Additionally, the European Union is sponsoring the development of batteries, which is anticipated to accelerate the uptake of silicon anode batteries in Europe.

Additionally, the market in Asia Pacific region is also estimated to have the significant growth over the forecast period. Some of the world's biggest consumer electronics markets are found in Asia Pacific, including those in China, Japan, and South Korea. In order to give longer battery life and quicker charging periods, silicon anode batteries are utilized in a variety of consumer gadgets, including smartphones, laptops, and wearables. Moreover, in order to provide high-performance energy storage solutions, silicon anode batteries are also employed in industrial applications such as aerospace, defense, and marine. The adoption of silicon anode batteries in the Asia Pacific area is being driven by the rising demand for these applications.

Get more information on this report: Request Free Sample PDF

Top Featured Companies Dominating the Global Silicon Anode Battery Market

Panasonic Holdings Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Samsung SDI Co., Ltd.
LG Chem Ltd.
Tesla
Enovix Corporation
Enevate Corporation
XG Sciences, Inc.
Amprius Technologies
California Lithium Battery
Nanotek Instruments

In The News

Enovix Corporation, a manufacturer of innovative silicon batteries, has announced that Penang, Malaysia, would house its first high-volume manufacturing facility ("Fab-2").
In order to commercialise its silicon-dominant, XFC-Energy battery technology in the transportation, mobility, and reserve power markets, Enevate Corporation, a pioneering battery innovation company with high energy density and extreme fast charge battery technologies for electric vehicles (EVs) and other markets, announced a new production licence agreement with EnerTech International. The commercialization of silicon batteries was planned for 2022.

Global Economic Impact

Request Insights

Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the silicon anode battery market?

Ans: The major factors driving the growth of the market are growing electric vehicles charging station, rise in adoption of smartphones, surge in launch of small spacecraft, and others.

2) What would be the CAGR of silicon anode battery market over the forecast period?

Ans: The market size of silicon anode battery is anticipated to attain a CAGR of ~68% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the silicon anode battery market growth?

Ans: High cost of silicon anode battery, complex manufacturing process, and strict government regulations are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of silicon anode battery market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the silicon anode battery market?

Ans: The major players in the market are Panasonic Holdings Corporation, Samsung SDI Co., Ltd., LG Chem Ltd., Tesla, and more.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the silicon anode battery market?

Ans: The market is segmented by capacity, application, and by region.

8) Which segment captures the largest market size in the application segment in the silicon anode battery market?

Ans: The medical devices segment is anticipated to garner the largest market

Base Year	2022
Forecast Year	2023-2035
CAGR	~68%
Base Year Market Size (2022)	~ USD 2 Billion
Forecast Year Market Size (2035)	~ USD 211 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)