According to Future Market Insights (FMI), the global silicon anode lithium-ion battery market value is set to reach USD 1,052.8 million in 2024 and USD 57,653.4 million in 2034. Over the assessment period, the industry is predicted to surge at a CAGR of 49.2%.
Growing demand for electric vehicles and electronics necessitates advanced, high-energy, and secure battery solutions, propelling demand for silicon-anode lithium-ion batteries. Developments in battery chemistry, manufacturing, processing, recycling technologies, and infrastructure investments are further projected to fuel the growth.
The automotive industry plays a pivotal part in propelling the silicon anode lithium-ion battery market, fuelled by the necessity for secure and dependable energy sources. Silicon anode batteries exhibit superior safety compared to alternative anode materials like carbon and graphite, offering extended battery life and sustainability.
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Silicon anode lithium-ion batteries prove their effectiveness in aerospace applications due to their high energy density and efficiency, surpassing conventional graphite anodes. With a capacity approximately ten times greater than graphite, silicon emerges as a promising option for aerospace applications where weight reduction and energy efficiency are vital.
Key Takeaways from the Report
The industry is projected to thrive at 49.2% CAGR through 2034.
By application, the automotive segment is set to hold a market share of 51.3% in 2024.
The United States is anticipated to reach US$ 30,684.6 million by 2034.
China is projected to attain a valuation of US$ 11,369.8 million by 2034.
India is predicted to rise at 32.3% CAGR through 2034.
"The rise in electric vehicle sales due to sustainability concerns and government concessions has led to a surge in the use of silicon anode lithium-ion batteries in the automotive sector. Furthermore, the transition towards renewable energy sources and new applications for lithium-ion batteries is projected to stimulate growth." – says an Analyst at Future Market Insights, Inc.
Competitive Landscape
Sila Nanotechnologies, Amprius Technologies, Group14 Technologies, Enovix Corporation, and NanoGraf Corporation are the key companies profiled in the full version of the report. Leading silicon anode lithium-ion battery manufacturers and suppliers are actively investing in continuous research to create new and advanced materials and improve their manufacturing processes to cater to end-user needs.
Recent developments-
In March 2024, NanoGraf opened a new facility for advanced manufacturing and expanded research and development capabilities in Chicago.
In March 2024, NEO Battery Materials filed a 9Mn patent for a manufacturing innovation in NBMSiDE®, resulting in improved yield, capacity, and quality in silicon anode production.
More Insights into the Silicon Anode Lithium-ion Battery Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global silicon anode lithium-ion battery market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.
To understand the global market potential, growth, and scope, the market is segmented based on capacity (<3000 mAh, 3000 mAh to 10000 mAh, >10000 mAh), material (nanostructured silicon anode, Si-based carbon composite anode), application (automotive, consumer electronics, aerospace, industrial, power, others), and region.