Silicon Anode Battery Market Continues To Grow With Toyota Motor Corporation Forming A Joint Venture With Panasonic Called Prime Planet Energy & Solutions (PPES) To Produce Lithium-Ion Batteries For Hybrid Cars

Silicon Anode Battery Market

 Silicon batteries are a very advanced technology, which has found immense applications in numerous fields. These devices include high capacity laptop and mobile power source, remote control car ignition keypad, car navigation system, cell phone, and PDA remotes, and electric shavers. All these amazing devices run on a small amount of charge stored in a silicon battery. One of the typical applications of silicon anode batteries is in consumer electronics. Products such as tablets, smartphones, smartwatches, and laptops are equipped with silicon anode batteries since they are inexpensive and with recent advancements, they have become the highest capacity and relatively low working potential. The demand for consumer electronics has increased over the years with rising urbanization. As per the India Brand Equity Foundation (IBEF), the Indian appliance and consumer electronics (ACE) market are expected to reach US$ 21.18 billion, increasing from US$ 10.93 billion in 2019. Hence, such factors can stimulate growth of the silicon anode battery market. 

Over the years, the automotive and consumer goods sectors have expanded rapidly in North America, typically in the U.S., which in turn, has triggered the high demand for silicon anode batteries. With rising demand for electric bikes and vehicles, the regional silicon anode battery market is likely to expand further. Besides, emerging regions such as Asia Pacific seems to be gaining rapid traction in the said market since there is high demand for silicon anode battery market in the automotive sector. 

Recently, in October 2020, Toyota Motor Corporation formed a joint venture with Panasonic called Prime Planet Energy & Solutions (PPES) to produce lithium-ion batteries for hybrid cars.

The consumer electronics industry is increasing day by day and at the same time, there are constant research and development taking place to improve and expand the capabilities of consumer electronics devices. As the demand for batteries is increasing, the suppliers are improving the production process and improving the quality of the products. However, the poor lifecycle of silicon materials remains one of the major hindrances in the growth of the silicon anode battery market. Besides, capacity loss, as well as high manufacturing investment required for silicon batteries, can limit growth of the silicon anode battery market in the near future. 

Although silicon anode batteries have become significantly sophisticated, key industry players are laying critical emphasis on R&D activities. These activities are focused on bringing improvements in Li-ion batteries. As a result of continuous R&D initiatives, key players are likely to launch innovative products and gain a significant advantage in the market. Therefore, these initiatives augment growth of the silicon anode battery market in the near future.

Location: India

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