Silicon Dominant Anode Battery Market by Type (Cells and Battery Packs), by Capacity (Less than 1500 mAh, 1500 mAh to 2500mAh and Above 2500 mAh), and by Application (Consumer Electronics, Automobile, Medical Devices, Industrial, Energy Harvesting, and Others) – Global Opportunity Analysis and Industry Forecast 2024-2030

Market Definition

The Silicon Dominant Anode Battery Market size was valued at USD 41.7 billion in 2023 and is predicted to reach USD 226.2 billion by 2030 with a CAGR of 27.8% from 2024-2030. Silicon dominant anode battery is a type of rechargeable lithium-ion battery that uses silicon as the primary material for the anode instead of graphite due to its high theoretical capacity, which can store more lithium ions per unit mass than graphite. The anode is typically made of a composite of silicon and carbon to mitigate the issues caused by the large volume change of silicon during cycling. Silicon dominant anode batteries have a higher energy density and longer cycle life than traditional graphite anode batteries, which makes them promising for electric vehicles and mobile devices. These batteries are also used in sustainable energy solutions, as they have the potential to reduce the reliance on fossil fuels and increase the adoption of renewable energy sources.

Market Dynamics and Trends

The increasing adoption of silicon dominant anode battery in Electric Vehicles (EV) and Plug-in Hybrid Electric Vehicles (PHEV) due to its higher energy density, longer range, and faster charging times than lithium-ion batteries is driving the growth of the silicon dominant anode battery market. For instance, in May 2022, Mercedes and Sila Nanotechnologies Inc. collaborated for the advancements in electric vehicle (EV) battery technology. This strategic partnership was aimed towards the development of silicon-based anodes as a superior alternative to conventional graphite anodes, improving the energy density and overall capabilities of Mercedes’ vehicles.

Moreover, advancement in technology such as development of nanostructured silicon anodes to increase batteries durability, stability, and cycle life, making them more commercially viable is further accelerating the growth of the market. For instance, in November 2023, Floatech, a Spain-based startup, launched plans for a new plant dedicated to the production of its revolutionary silicon anodes. Harnessing advanced technologies, the company is at the forefront of developing nanostructured silicon anodes, a key component in the next generation of lithium-ion batteries (LIBs) that will drive the future of electric vehicles.

Furthermore, the growing consumer awareness coupled with stringent government policies to reduce carbon emission and find sustainable energy solutions is further boosting the demand of silicon dominant anode battery which offer high energy storage capacity and faster charging times.

However, the high manufacturing costs of silicon dominant anode battery is the major factor restraining the growth of the silicon dominant anode battery market. On the contrary, the introduction of silicon-carbon composites and growing research on new battery chemistries such as lithium-silicon batteries which can improve the stability and higher energy density compared to pure silicon anodes are expected to create ample opportunities in the growth of the silicon dominant anode battery market in the coming years.

Market Segmentations and Scope of the Study

The silicon dominant anode battery market share is divided on the basis of type, capacity application, and region. On the basis of type, the market is segmented into cells and battery packs. Based on capacity, the market is divided into less than 1500 mAh, 1500 mAh to 2500mAh and above 2500 mAh. On the basis of application, the market was classified into consumer electronics, automobile, medical devices, industrial, energy harvesting, and others. Regional breakdown and analysis of each of the aforesaid segments include regions comprising of North America, Europe, Asia-Pacific, and Rest of World (RoW).

Geographical Analysis

Asia-Pacific holds the dominant share of silicon dominant anode battery market and is expected to continue its dominance during the forecast period. The growing consumer electronics industry and the increasing demand for high-performance and environmentally-friendly batteries in this region is driving the growth of the silicon-dominant anode battery market. According to the Semiconductor Industry Association, China is the world’s largest manufacturing hub, producing 36% of the world’s electronics including smartphones, computers, and wearables among others in 2021.

Moreover, the Asia-Pacific automobile industry is further driving the growth of the silicon dominant anode battery used in EVs and Hybrid Electric Vehicles (HEVs) due to the region’s large and growing automobile industry and the presence of many of the world's largest battery manufacturers such as Toyota, Tata, and SAIC Motors. According to the International Trade Administration, China is the largest vehicle manufacturing country in the world selling over 25 million vehicles in 2020 and domestic production is expected to reach 35 million vehicles by 2025.

On the other hand, North America is expected to show a steady growth in silicon dominant anode battery market. This is due to the growing adoption of electric and hybrid vehicles that uses silicon batteries for higher energy density and longer lifespan in countries such as the U.S. and Canada is boosting the growth of the market in this region. According to the latest report published by the Argonne National Laboratory, the demand for PHEV is growing significantly, with more than 1.4 million PHEVs being sold in 2023, an increase of 50% from 2022. This surge in the demand for EVs and PHEVs is anticipated to boost the growth of the market in this region.

Moreover, the increasing emphasis on producing and storing renewable energy to fulfill energy requirements in countries such as the U.S. and Canada is fueling the growth of silicon-dominant anode batteries market. As per the recent report published by the U.S. Department of Energy, renewable energy accounted for approximately 20% of all electricity generated in the U.S. in 2021. As the demand for renewable energy continues to rise, the adoption of silicon-dominant anode batteries is expected to accelerate, driving further innovation and growth in the energy storage market.

Competitive Landscape

Various market players operating in the silicon dominant anode battery include Nexon Limited, Enovix Corporation, Ampurius Technologies Inc, Enevate Corporation, Nanograf Corp, Sila Nanotechnologies Inc, Boston Power Inc, Eocell Inc, XG Science Inc, Nanotek Instrument Inc, and others.

These market players are adopting various strategies such as partnership and product launches to remain dominant in the market. For instance, in January 2023, Nexon partnered with Ilika to develop advanced silicon solid-state batteries for electric vehicles, which will be manufactured in the UK and used by BMW. The batteries offer improved energy density, safety and lifespan compared to traditional lithium-ion batteries.

Moreover, in December 2022, Enovix Corporation announced the launch of its breakthrough battery technology made from silicon. Enovix's 3D Silicon Lithium-ion technology offers higher energy density, faster charging times, and increased safety compared to traditional lithium-ion batteries that provides a safer and more efficient energy source for various applications, from consumer electronics to electric vehicles. 

KEY BENEFITS

• The report provides quantitative analysis and estimations of the silicon dominant anode battery market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the silicon dominant anode battery market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the silicon dominant anode battery market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

KEY MARKET SEGMENTS

By Type

• Cells 

• Battery Packs

By Capacity 

• Less than 1500 mAh

• 1500 mAh to 2500mAh 

• Above 2500 mAh

By Application 

• Consumer Electronics

• Automobile

• Medical Devices

• Industrial

• Energy Harvesting

• Others

By Region

• North America    

  • The U.S.

  • Canada

  • Mexico

• Europe    

  • The U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific    

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• Rest of the World (RoW)    

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION

Test