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Silicon Anode Battery Market is Estimated To Witness High Growth Owing To Trends in Li-ion Battery Capacity and Performance Improvement

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Poonam
Silicon Anode Battery Market is Estimated To Witness High Growth Owing To Trends in Li-ion Battery Capacity and Performance Improvement

The Silicon Anode Battery Market is estimated to be valued at US$ 370.47 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Silicon anode batteries are lithium-ion batteries that contain silicon-based anodes instead of conventional graphite anodes. Silicon has ten times the lithium storage capacity of graphite, allowing silicon anode batteries to store more energy. This increased storage capacity means silicon anode batteries can power devices for longer periods. The batteries are also compact and lightweight.

Market key trends:

One of the major trends driving the silicon anode battery market is the need for higher capacity and better performing lithium-ion batteries for electric vehicles. Due to silicon's high lithium storage capabilities, silicon anode batteries can significantly improve an electric vehicle's range on a single charge compared to graphite batteries. Various automakers are investing in developing silicon anode technologies to overcome the current range limitations of EVs. For instance, Tesla aims to develop silicon anode batteries with over 500 miles of range per charge for its future vehicles. Additionally, several silicon anode battery startups are working on technologies to improve cycle life and overcome the volume expansion issues of silicon to make the batteries commercially viable for electric mobility. This growing focus on silicon for developing next-gen automotive batteries is expected to boost the silicon anode battery market over the forecast period.

Porter's Analysis

Threat of new entrants: New entrants face high initial costs for R&D, manufacturing facilities and distribution network. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and suppliers have differentiated products. Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to availability of substitutes. Threat of new substitutes: Threat is moderate as lithium-ion batteries with silicon anode provide superior performance. Competitive rivalry: Intense due to presence of global players.

SWOT Analysis

Strengths: Superior performance, longer life cycles and fast charging capability. Weaknesses: High initial costs, commercial mass production challenges. Opportunities: Rising demand for EVs and electronics, government support for sustainable technologies. Threats: Slow adoption rate, technology risks during scaling of production.

Key Takeaways

The global Silicon Anode Battery Market Growth is expected to witness high growth, exhibiting CAGR of 21% over the forecast period, due to increasing adoption of EVs and demand for high energy density batteries. Asia Pacific dominates the market and is estimated to grow at a high CAGR during the forecast period owing to presence of major battery manufacturers and consumers in China and demand from other emerging economies.

The regional analysis of silicon anode battery market reveals that Asia Pacific dominated the global market in 2023, accounting for around 55% of the overall shares. China is estimated to lead the Asia Pacific market, during the forecast period, due to presence of leading battery manufacturers and significant investments made by Chinese government to develop domestic EV industry.

Key players operating in the silicon anode battery market are Nexeon Limited, Enevate Corporation, OneD Material, XG Sciences Inc., Nanotek, Instruments, Inc., Zeptor Corporation, California Lithium Battery, Amprius, Inc., and Connexx Systems Corporation.

Read More,

https://www.newsstatix.com/silicon-anode-battery-trends-size-and-share-analysis/


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