Global Silicon Anode Battery Market Expected to Reach $333.50 million by 2028
Research Reports
Mar 27, 2022
Global Information, Inc. [JASDAQ 4171]
A silicon anode battery is a type of lithium-ion (Li-Ion) battery where the anode is replaced by silicon nanotubes or silicon coating. The idea of using a silicon anode in a battery is still under a lot of testing. This has multiple advantages over ordinary lithium or graphite anodes. The silicon enables long life and high energy storage, resulting in a significantly longer-lasting battery.
The promptly increasing shipments of electronic appliances and devices, extensive growth in industrial and service sectors have led to GDP growth worldwide. As a result, this has had a positive effect on smartphone spending globally, thus eventually impacting the market demand. Currently, it is being widely deployed as a power source in consumer electronics like 3G cell phones, laptops, tablets, MP4 players, and digital cameras, as well as automotive such as electric bicycles and hybrid electric vehicles owing to their high voltage, high energy density, and long life span.
Rising demand for microelectronic devices such as laptops, cell phones, and tablets is expected to have a positive impact on the market growth. Growing demand for smartphones due to increasing penetration of the internet is further anticipated to augment the market growth. The growing use of silicon as an anode material in lithium-ion batteries due to its excellent capacity performance is projected to bolster the market growth. Moreover, growing environmental concern coupled with the rising demand for high-performance batteries due to rising demand for high-end electronic applications is further expected to augment the market growth.
The consumer electronics segment is a prominent application segment in the market, due to its huge storage capacity and huge demand for lithium-ion with silicon anode. Its reliability, huge energy storage, long cycle life, and safety features help to grow the market. The development in the battery would demand a high value of portable devices in consumer electronics applications. The utilization of high-end technologies in the energy industries is expected to witness huge opportunities. The use of it helps in storing huge amounts of energy, thus, increasing the potential of the battery; the high storage of energy helps several automotive manufacturers to raise an electric range of vehicles. The silicon anode battery also helps in lessening the cost of manufacturers. Furthermore, the growth in the demand for electric vehicles would help in an increase in silicon anode batteries. Hence, these above factors have a positive impact on the market globally.
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