Global Lithium Silicon Battery Market Report and Forecast 2024-2032

Global Lithium Silicon Battery Market Outlook

The global lithium silicon battery market size is expected to grow at a CAGR of 12.60% in the forecast period of 2024-2032. This development is aided by the rising energy demands around the world.

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Global Lithium Silicon Battery Market Key Trends

Lithium silicon batteries are a sub-class of lithium-ion batteries that employ silicon-based anode and lithium-ions acting as charge carriers.

Increasing Industrialisation

With the changing lifestyles of the consumers due to the rapid urbanisation and industrialisation, the demand for smart electronics is rising, this is bolstering the demand for lithium silicon batteries.

Better Energy Density

Lithium-ion batteries with graphite anodes are widely used in multiple applications ranging from small consumer uses to large rigid energy storage. However, graphite does not provide high energy output and is being substituted by silicon for better performance.

Rising Need for Energy Storage

Energy storage is extensively used in power grids, vehicles, for machinery, among many other applications. Manufacturers are developing and launching new solutions to meet the demand.

Growth Opportunities for Global Lithium Silicon Battery Market

Rising Adoption of Electric Vehicles

The market for lithium-ion batteries with silicon anode will rise with increasing adoption in electric vehicles due to their higher energy density and longer battery life.

Rising Demand for Portable Devices

Lithium silicon batteries is widely used for portable devices and the demand will further grow as the technology develops for portable devices, such as smartwatches, smartphones, and tablets, among others.

Challenges to Global Lithium Silicon Battery Market

Expansion of Battery

Silicon-anode batteries can expand greatly when fully charged and this can significantly damage the structure of the battery.

The Expensive Process of Production

Manufacturing silicon materials require sophisticated equipment, and the manufacturing involves complex procedures to ensure that the silicon does not expand and damages the battery.

Global Lithium Silicon Battery Market Analysis

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Based on battery shape, the market can be segmented into prismatic, cylindrical, coin-shaped, and multi-cell, among others. Based on the end-user, it can be bifurcated into automobile, aerospace, defence, and consumer electronics, among others. The regional markets for the liver cancer screening market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.

The extensive E.M.R. report provides an in-depth evaluation of the market based on Porter's five forces model and a SWOT analysis.

The lithium silicon battery market report comprehensively analyses key players in the market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Enovix Corporation

• Global Graphene Group

• 3M Co.

• EoCell, Inc

• Nexeon Ltd.

• Sila Nanotechnologies Inc.

• Others

Market Share by Battery Shape

Based on battery shape, the market segments include prismatic, cylindrical, coin-shaped, and multi-cell, among others. Among these segments, the cylindrical shape has been the most widely adopted as these are suitable for automated manufacturing. They also allow even distribution of the internal pressure over the circumference of the cell.

Prismatic lithium cells are the second largest segment as they offer larger energy capacity and can be found inside laptops. Due to their higher energy output, they are used to build larger battery packs.

Market Share by End-Use

The market segments, according to end-use, can be divided into automobile, aerospace, defence, and consumer electronics, among others.

Among these, the consumer electronics segment is expected to hold the largest market share. Technological advancements have led various electronic devices, such as delivery drones, wearables, and AR/VR devices to adopt a lighter and compact design.

This has propelled various companies to develop lithium silicon batteries as the lithium-ion batteries started showing drawbacks related to size, weight, and energy capacity.

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Competitive Landscape

Enovix Corporation is a leading company engaged in the manufacturing of silicon-anode lithium batteries. They are headquartered in the United States and were founded in 2007. They are focused on developing high-density batteries with a greater life cycle. Their primary target is providing high-energy batteries for manufacturers of mobile devices.

3M Co. is one of the largest multinational conglomerates headquartered in Minnesota, the United States, which was founded in June 1902. They have a wide product portfolio, encompassing thousands of products including adhesives, laminates, medical products, car-care products, electronic circuits, and EV battery solutions, among many others.

Nexeon Ltd. is a company focused on dealing with battery materials and manufacturing lithium-ion and silicon anode technology batteries. They develop lithium batteries for electronic vehicles, wearables, and consumer electronics to provide sustainable energy. Its headquarter is located in Oxfordshire, the United Kingdom and the company was founded in 2006.

Other key players in the market include Global Graphene Group, EoCell Inc, and Sila Nanotechnologies, among others.

Key Highlights of the Report