Global Nanowire Battery Market is valued at USD 88.1 Million in 2021 and is expected to reach USD 727.4 Million by 2028 with a CAGR of 35.21% over the forecast period.
Global Nanowire Battery Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028: The rising demand of batteries with slim design and high charge retention capacity, increase in expenditure for R&D by automotive and aviation industries, and growth in consumer electronics industry are the major factors driving the growth of the Global Nanowire Battery Market.
A nanowire battery uses nanowires in order to increase the surface area of one or both of its electrodes. Various types of materials are used nowadays in nanowire batteries like silicon, germanium, and transition metal oxides among others to improve the battery performance by replacing the standard graphite anode batteries. Silicon is the most commonly used material in nanowire batteries owing to its properties. It has a low discharge potential and a higher charging capacity which is ten times more than that of traditional graphite anodes previously in use. As per a secondary source, the increase in power density requirements led to the usage of silicon electrode materials and its commercialization.
Covid-19 has also impacted the global nanowire battery market due to lockdowns, some of its end-users like consumer-driven electronics, aviation and automotive industries were terribly affected. They had to slow down production due to a shortage of manpower and disruption in transportation of goods and raw materials. On the other hand, end-users like medical equipment and IoT based manufacturers had to speed up their production capacity in response to the growth in demand and increased consumption. Since now the Covid-19 is neutralized, the demand for nanowire batteries is rising.
Global nanowire battery market is segmented on the basis of material type, industry, and region & country level. On the basis of material type, the global nanowire battery market is classified into silicon, germanium, transition metal oxides, gold and others. On the basis of industry, the global nanowire battery market is classified into consumer electronics, automotive, aviation, energy, medical devices and others.
Some of the key players for the global nanowire battery market are
On April 21st, 2022; One D Material announced that it has developed a special platform, called Sinanode, which attached the silicon nanowires onto the anode with the help of silane, nitrogen, and electricity. This process promises three main benefits: during charging cycles, the silicon nanowires remain pliant and won’t crack, with hundreds of thousands of wires on each graphite particle, the silicon triples the energy density of the anode and a greater silicon-to-graphite ratio lowers the CO2 produced per kWh for manufacturing a battery.
On January 26th, 2021; Sila Nanotechnologies (“Sila Nano”), a next-generation battery materials company, announced that it raised $590 million Series F funding at a $3.3 billion post-money valuation. The new funding will come as the first Sila Nano-powered batteries prepare to ship in consumer devices and the company scaled up its production to serve growing demand from smartphone and automotive customers. Coatue led the round with significant participation by funds and accounts advised by T. Rowe Price Associates, Inc.
The rise in demand of batteries with slim design and high charge retention capacity is one of the major factors driving the growth of the global nanowire battery market. With the growing rise in IoT, nanowire batteries were used in drones which were utilized to combat the pandemic by providing public surveillance during social distancing norms and transportation of urgent medical necessities. Performance of nanowire batteries used in IoT devices has become one of the essential factors to consider while designing IoT-based drones. Due to the restrictions laid down by various governments globally in order to curb the spread of the pandemic, manufacturing companies came up with new ideas to transport the necessities and at the same time maintain least surface contact.
In addition, increasing expenditure for R&D by automotive and aviation industries is also supplementing the growth of the global nanowire battery market. With the increase in technological advancements in these industries, there is a growth in demand for lightweight, flexible, waterproof, high-capacity nanowire batteries. As per the secondary sources, silicon-based nanowire batteries have three times more capacity than graphite-only material. The commercial applications of nanowires are expected to boost the global nanowire battery market within the forecast period. Furthermore, growth in the consumer electronics industry is also augmenting the market growth. There are continuous development of one-dimensional semiconductor nanowires to bring high-performance nanowire devices along with the silicon technology. Several manufacturers like EaglePicher have licensed a large-scale manufacturing process from OneD and also integrated the production of anode material in their new plant.
However, the most common restraint is stringent government regulations worldwide which is updated and swapped regularly. At the same time, the rapid adoption of such kind of products will create new opportunities for the further growth of the global nanowire battery market.
The global nanowire battery market in the APAC region is the largest market for nanowire batteries during the forecast period. The demand in APAC is driven by the growing industrialism, rising demand from the consumer electronics and automotive industry. As per secondary sources, manufacturing companies of nanowire batteries are constantly in the process of research and development activities to replace newer and faster battery technologies with the standard anode batteries. For instance; Amprius Technologies Inc., one of the market leaders in nanowire batteries merged with Kensington Capital Acquisition Corp. IV in order to carry on large-scale production and for better reach among different nations.
The global nanowire battery market in North America region is also a prospering market for nanowire batteries during the forecast period. Various government funded projects and development in the field of nanowire battery are carried on in this region.
Middle East and Africa
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 88.1 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 727.4 Million
|Tables, Charts & Figures:
|Nanowire Battery Companies
|Amprius, Sila Nanotechnologies, OneD Material, Nexeon, NEI Corporation, XG Sciences, LG Chem, Panasonic, Samsung SDI, Enevate, ACS Materials, Novarials Corporation, Boston Power, Lithium Werks, Targray, Others.
|By Material Type, By Industry
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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