Global Silicon Anode Battery Market is Likely to Reach US$ 131.6 Billion, Regist… – Press Release

NEWARK, Del, May 03, 2023 (GLOBE NEWSWIRE) — The global silicon anode battery market is likely to be valued at US$ 2.7 billion in 2023. The increasing application of technologically improved silicon anode batteries with high storage capacity across various industries is driving the market growth. FMI projects market is estimated to garner US$ 131.6 billion in 2033, recording a CAGR of 47.5% from 2023 to 2033

The demand for silicon anode batteries is high in the commercial and industrial sectors due to increased demand for energy storage. Increasing the use of batteries with high capacity is expected to boost market sales during the forecast period.

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The expansion of the application sector such as automotive consumer electronics is likely to drive the growth of the silicon anode battery market. The technological advancement in the automotive industry, such as the increased application of sustainable & reliable automotive components in electric vehicles has augmented the demand for batteries with higher storage capacity.

Key Takeaways from the Market Study

• From 2018 to 2022, the market demand expanded at a CAGR of 40.5%
• Based on the application, the automotive segment to accumulate a market share of 38.5% in 2023
• By capacity, the above 2500 mAh segment dominates the market with a share of 47%
• North America to emerge as a promising market, capturing nearly 42.3% of the global market share in 2023
• Asia Pacific to be an opportunistic market, expected to capture a CAGR of 35.7% during the forecast period. 

“Growing demand in the end-use industry and technological innovation in silicon anode batteries are expected to drive the market in the forecast period. Also, the increasing demand for electric vehicles globally is projected to play a vital role in strengthening the market.”  Says our Analyst.

Competitive Landscape

Prominent players in the silicon…

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