As per the latest research report titled ‘Global Silicon Battery Market Size study, by Capacity (0-3,000 mAh, 3,000-10,000 mAh, 10,000-60,000 mAh, 60,000 mAh & above), by Application (Automotive, Consumer Electronics, Aviation, Energy, Medical Devices) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global silicon battery market is anticipated to progress at a notable growth rate during the review period, and subsequently, amass a decent valuation by 2028.
Expanding electronics sector, and a comparatively higher energy density of silicon as opposed to other batteries are the major factors fueling global silicon battery market growth.
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Estimates by India Brand Equity Foundation (IBEF) claim that the Indian electronics manufacturing industry is slated to amass a valuation of USD 520 billion by the end of 2025.
For the uninitiated, lithium-silicon battery is a sub-division of lithium-ion batteries that utilize a silicon-based anode along with charge carriers as lithium ions for energy generation.
Escalating demand for high-performance batteries across several energy storage applications may uncover new opportunities for industry expansion over the forecast duration.
Despite the positive outlook, volumetric expansion of silicon upon insertion of lithium within batteries may adversely impact the profitability graph of the industry space in the ensuing years.
Moving on, worldwide silicon battery market is segmented by capacity and application spectrum. Projections with respect to segmental growth are provided in the document to ensure a deeper understanding of market dynamics among stakeholders.
From a geographical standpoint, North America market is expected to foresee substantial growth through 2028, owing to burgeoning R&D activities aimed at unearthing new battery technologies.
Meanwhile, Asia Pacific industry is estimated to attain substantial revenue share during 2022-2028, creditable to surge in product demand from consumer electronics, automotive, and renewable energy verticals.
The competitive dynamics of worldwide silicon battery industry is influenced by key players such as Targray Technology International Inc., Nexeon Ltd., Enovix Corporation, Enevate Corporation, LeydenJar Technologies B.V., Huawei Technologies Co. Ltd, XG Sciences Inc., and Amprius Technologies Inc. among others.