The silicon anode battery market was valued at US$ 39.3 million in 2019 and is projected to reach US$ 270.3 million by 2027; it is expected to grow at a CAGR of 28.6% from 2020 to 2027.
The silicon anode battery is expected to gain tremendous prominence during the forecast period.The technology developers are investing significantly to develop and commercialize their technologies, which would showcase a paradigm shift in consumer electronics technologies.
The advantages offered by the silicon anode battery have influenced several investors to capitalize on the technology, which in turn has encouraged developers to progress in manufacturing the batteries.Sila Nanotechnologies, a California-based silicon anode battery developer, has been securing investments since the inception of the company.
Sila Nanotechnologies have been a pioneer in the silicon anode battery market, and the company emphasizes heavily on producing and commercializing the batteries.In 2019, the company raised funding of US$ 45 million from Canada Pension Plan Investment Board.
Sila Nanotechnologies aims to ramp up its production unit of silicon anode battery and commercialize the same for the consumer electronics industry by the 1st half of 2020. Moreover, Sila Nanotechnologies secured US$ 170 million investment from auto giant Daimler in 2019, for the next generation battery technology, i.e., silicon anode battery. Additionally, in 2018, Sila Nanotechnologies also gained investments from Sutter Hill Ventures toward innovation and production of Silicon anode batteries. Thus, with the rising trend of investment scoring among various developers of silicon anode battery, the development and commercialization of the technology are evident. Therefore, increasing investment towards the development of next-generation battery is driving the growth of Silicon anode battery market.
The silicon anode battery market is segmented into capacity and application.Based on capacity, the market is segmented into <1,500 mAh, 1,500–2,500 mAh, and >2,500 mAh.
Based on application, the market is segmented into automotive, consumer electronics, medical devices, energy & power, industrial, and others.
Amprius Technologies; Daejoo Electronic Materials Co., Ltd.; Enevate Corporation; Hitachi Chemical Company, Ltd.; Huawei Technologies Co., Ltd.; Nanotek Instruments, Inc.; NEXEON LTD.; Shin-Etsu Chemical Co., Ltd; Sila Nanotechnologies Inc.; Zeptor Corporation; and Targray Technology International are among the key players operating in the silicon anode battery market.
The overall size of silicon anode battery market is analyzed using primary and secondary sources.The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the silicon anode battery market.
It also provides an overview and forecast for the silicon anode battery market based on all the segmentations provided globally.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in silicon anode batteries.
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