Lithium Silicon Battery Market Size, Share & Industry Analysis, By Anode Design (Particle-Based Structures, Porus Si, Nanowires, Nanofibers, and Nanotubes, Si-Based Composites, Others), By Application (Electric Vehicles, Power Storage, Electric Machinery, Electronic Devices, Satellites, Others) and Regional Forecast, 2024-2032

With the increasing growth in population and improvement in living standards, the human demand for power has also increased. Many clean and renewable energy sources are intermittent, and the energy supply may not match energy demand. Hence, storage is needed to enable energy to be stored for use when it is required at a later time. Several pieces of equipment use battery systems for backup power and portable power devices.

Introduction of lithium-ion batteries (LIBs) in the past two decades have revolutionized usage of portable devices, electronic equipment, vehicles, etc. LIB has great potential to make tremendous impact on improving human comfort. In spite of the immense potential, LIB is not able to meet the needs of current demands.

Silicon is one of promising anode material for next-generation LIB. Silicon-based anodes have an energy capacity that is more than 10 times greater than their graphite-based anode equivalents. Silicon has been thought of as one of the most promising next-generation anodes due to its considerably higher capacity (~ 4200 mAh g−1 for Li4.4Si) than traditional graphite anode (~ 372 mAh g−1), low operation potential, high abundance, and environmental friendliness. Silicon-based anodes have yet to be fully commercialized.

Based on anode design, lithium  silicon battery can be segmented in Particle-Based Structures, Porus Silicon, Silicon Nanotubes, Silicon Nanofibers & Silicon Nanowires, Silicon-based Composites, etc. Particle-Based Structures include Nanoparticles, Solid core-shell structure, Hollow core-shell structure, and Yolk-shell structures. Porus silicon includes Nanosized porous silicon and Micro-sized porous silicon.

Silicon-based composited include Si/graphene & Si/nano graphite sheet composites, Si/CNT, Si/CNF & Si/graphite powder composites and Si mixed with other material composites. Some of the unusual silicon anode design include hollow porous silica nanocubes, pomegranate-inspired silicon nanoparticles, crab shell templates, prelithiated Si anodes, etc. Several design configurations of silicon-based anodes are research and development. On the basis of application, lithium silicon batteries are segmented in Electric Vehicles, Electric Machinery, Power Storage,  Electronic Devices, Satellites, etc.            

The primary market driver for global lithium silicon battery  market is the increase in usage of energy storage devices. Energy storage devices are increasingly used in vehicles, machinery, and power grids. The energy density of lithium silicon battery is higher than the existing LIBs. Drawbacks such as the tremendous volume variation of silicon during the discharge/charge process, unstable solid electrolyte interphase films, and poor electrical conductivity, which significantly restrict its practical and commercial application of silicon anode.

Key Players Covered

Some of the notable companies in the global lithium silicon battery market are Huawei Consumer Business Group, Sony, Targray, XNRGI, Sila Nanotechnologies, ENOVIX Corporation, Enevate Corporation, Global Graphene Group, EoCell, Inc., NEXEON LTD., Albemarle Corporation, Paraclete Energy, 3M, and VARTA Microbattery.

Segmentation

Regional Analysis

The global lithium silicon battery market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to dominate lithium silicon battery market. North America and Europe spend considerable amount to fuel research and development activities. Next breakthrough in lithium silicon battery will be made in university laboratories and research centers in Europe and North America. China, Australia, and Japan have also been paying attention to upcoming high-tech technology like lithium silicon battery. Several existing lithium-ion battery (LIB)  manufacturers are in the research and development phase of lithium silicon battery. Several venture capitalist is funding start-ups to manufacture commercially viable silicon anode.

Key Industry Developments

• In July 2019, India slashed Goods and Service Tax (GST) on electric vehicles and chargers to 5% from a previous GST of 12% and 18%, respectively. Local authorities in India will also be exempt from GST for hiring electric buses with a capacity of over 12 people


• In May 2019, Western Farmers Electric Cooperative has entered into a power purchase agreement (PPA) with NextEra Energy Resources for a combined wind, solar and energy storage project.  The PPA includes a  200-MW, four-hour battery storage project, which will begin operations by the end of 2023.


• In October 2018, Huawei Consumer Business Group unveiled the industry's first patented lithium-silicon battery. This patented technology is likely to be used in upcoming Huawei smartphones.