Dublin, Aug. 06, 2019 (GLOBE NEWSWIRE) -- The "Nanowire Battery Market by Material Type (Silicon, Germanium, Transition Metal Oxides, Gold), Industry (Consumer Electronics, Automotive, Aviation, Energy, Medical Devices), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The nanowire battery market is projected to grow from USD 52.8 million in 2021 to USD 243.3 million in 2026, at a CAGR of 35.7%.
The global nanowire battery market is segmented into material type, industry, and geography. The market based on material type is segmented into silicon, germanium, transition metal oxides, and gold. The industries that are included in the study of the nanowire battery market include consumer electronics, automotive, aviation, energy, and medical devices. The nanowire battery market is segmented into four regions - North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
The key players in the market include Amprius (US), Sila Nanotechnologies (US), OneD Material (US), Nexeon (UK), NEI Corporation (US), XG Sciences (US), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), Enevate (US), ACS Materials (US), Novarials Corporation (US), Boston Power (US), Lithium Werks (Netherlands), and Targray (Canada).
Nanowire battery market to exhibit significant growth during 2021-2026
The key factors driving the growth of the market include rising demand for batteries with high charge retention capacity, increasing expenditure on R&D activities by automotive companies, and growing consumer electronics industry. However, the high volume change of silicon nanowires during charge and discharge cycles is the key restraining factor for market growth.
Silicon-based nanowire battery market to witness high growth potential during the forecast period
Nanowire battery market for silicon is expected to grow at the highest CAGR during the forecast period. Silicon has emerged as the most promising anode material owing to its high charge retention capacity, low discharge capacity, and low cost. Silicon enables fast charging and lasts longer than lithium-ion batteries. Need for a longer battery lifetime and faster recharging time are the growing trends in the existing battery ecosystem. Moreover, growing electric mobility and miniaturization of consumer electronics has created an urgent requirement for advanced energy storage for batteries.
Nanowire battery market in medical devices industry to grow at the highest CAGR during the forecast period
The nanowire battery market in the medical devices industry is expected to grow at the highest CAGR during the forecast period. Nowadays, innovations are taking place in the healthcare industry. Advanced battery-operated medical devices, such as pacemakers and hearing aids, are being designed to improve the overall health and well-being of their users. However, these implantable devices use lithium-ion batteries as power sources, which present a considerable number of safety issues to the patients. Nanowire batteries are lighter, safer, and have more energy density, and are expected to replace lithium-ion batteries in implantable devices in the coming years.
North America to be the largest market for nanowire battery during the forecast period
North America is expected to lead the nanowire battery market from 2021 to 2026. The high adoption rate of EVs in the US, increasing emphasis on power generation from renewable energy sources, and the presence of a favorable startup ecosystem are key factors driving the growth of the nanowire battery market in North America. In April 2019, Sila Nanotechnologies (US), a leading nanowire battery manufacturing startup, raised venture funding of USD 170 million. The US is one of the most attractive markets for nanowire batteries, one of the key reasons being the increasing demand for electric vehicles (EVs) in the country. The high adoption rate of EVs in the US is expected to fuel the demand for nanowire batteries in the coming 4-5 years. In 2018, the country witnessed a sharp rise of 81% in the sales of EVs compared with the previous year.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Nanowire Battery Market, 2021-2026 (USD Million)
4.2 Nanowire Battery Market, By Material Type
4.3 Nanowire Battery Market, By Industry and Region
4.4 Nanowire Battery Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Batteries With High Charge Retention Capacity
5.2.1.2 Increasing Expenditure on R&D Activities By Automotive Companies
5.2.1.3 Growing Consumer Electronics Industry
5.2.2 Restraints
5.2.2.1 High Volume Change of Silicon Nanowires During Charge and Discharge Cycles
5.2.3 Opportunities
5.2.3.1 Emergence of Electric Vehicles
5.2.3.2 Need for High-Performance Batteries in Electric Grid Storage Applications
5.2.4 Challenges
5.2.4.1 Presence of Substitute Battery Technologies
5.2.4.2 Operational Obligations Such as Conducting Pilot and Safety Tests
5.3 Value Chain Analysis
5.4 Emerging Battery Technologies
5.4.1 Solid-State Battery
5.4.1.1 Need for Safer and Lighter Batteries Drives Demand for Solid-State Batteries
5.4.2 Lithium-Metal Battery
5.4.2.1 Lithium-Metal Batteries Offer Better Performance Than That of Lithium-Ion Batteries
5.4.3 Lithium-Air Battery
5.4.3.1 Lithium-Air Battery is Expected to Be Ideal Option to Replace Lithium-Ion Batteries
5.4.4 Aluminum-Air Battery
5.4.4.1 Rise in Adoption of Batteries With High Energy Density Makes Aluminum-Air Battery Attractive Substitute
5.4.5 Graphene Battery
5.4.5.1 Requirement for Fast-Charging Batteries Fuels Market for Graphene Battery Technology
6 Components Used in Nanowire Batteries
6.1 Introduction
6.2 Common Cathode Materials
6.2.1 Lithium Iron Phosphate
6.2.2 Lithium Cobalt Oxide
6.2.3 Lithium Nickel Manganese Cobalt
6.2.4 Lithium Nickel Cobalt Aluminum
6.3 Common Anode Materials
6.3.1 Low-Charge Retention Capacity of Graphite Drives Demand for Substitute Anode Materials for Nanowire Batteries
6.4 Electrolytes
6.4.1 Growing Demand for Batteries With Higher Charge Retention Capacities Fuel Need for Efficient Electrolytes
6.5 Separators
6.5.1 Battery Separator is Essential for Safe Functioning of Nanowire Batteries
6.6 Other Materials
6.6.1 Supporting Material Plays A Crucial Role in Nanowire Battery Manufacturing Process
7 Nanowire Battery Market, By Material
7.1 Introduction
7.2 Silicon
7.2.1 High-Charge Retention Capacity of Silicon Makes It an Ideal Anode Material for Nanowire Batteries
7.2.1.1 Advantages of Silicon
7.2.1.2 Disadvantages of Silicon
7.3 Germanium
7.3.1 Stable Electrical Conductivity of Germanium Fuels Its Demand for Nanowire Batteries
7.3.1.1 Advantages of Germanium
7.3.1.2 Disadvantages of Germanium
7.4 Transition Metal Oxides
7.4.1 Transition Metal Oxides Offer Great Potential for Nanowire Batteries When Used as Anodes
7.4.1.1 Advantages of Transition Metal Oxides
7.4.1.2 Disadvantages of Transition Metal Oxides
7.5 Gold
7.5.1 Gold as an Anode Material Offer High Storage Capacity for Nanowire Batteries
7.5.1.1 Advantages of Gold Nanowires
7.5.1.2 Disadvantages of Gold Nanowires
8 Nanowire Battery Market, By Industry
8.1 Introduction
8.2 Consumer Electronics
8.2.1 Smartphones
8.2.1.1 High Demand for Smartphones With Longer Run Time to Fuel Growth of Nanowire Battery Market
8.2.2 Laptops
8.2.2.1 Penetration of Emerging Battery Technologies in Laptops Opened New Growth Opportunities
8.2.3 Digital Cameras
8.2.3.1 Advancements in Digital Technology has Significantly Changed Power Requirements for Digital Cameras
8.2.4 Wearables
8.2.4.1 Exponential Rise in Demand for Wearable Devices Expected to Boost Nanowire Battery Market
8.3 Automotive
8.3.1 Battery Electric Vehicles (BEV)
8.3.1.1 Growing Use of Electric Vehicles to Boost Demand for Nanowire Batteries
8.3.2 Plug-In Hybrid Electric Vehicles (PHEVs)
8.3.2.1 Rising Market for PHEVs to Surge Demand for Nanowire Batteries
8.4 Aviation
8.4.1 Drones
8.4.1.1 Nanowire Battery-Excellent Option for Powering Commercial Drones
8.5 Energy
8.5.1 Power Storage
8.5.1.1 Transition From Non-Renewable to Renewable Sources Makes Nanowire Battery Crucial Component of Grid Power Storage Solution
8.6 Medical Devices
8.6.1 Implantable Devices
8.6.1.1 Nanowire Batteries to Offer Safer Operations for Implantable Devices Than That of Lithium-Ion Batteries
9 Nanowire Battery Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US Offers Highest Growth Potential for Nanowire Battery Market in North America
9.2.2 Canada
9.2.2.1 Abundance of Renewable Energy Sources Makes Canada Ideal Destination for Electric Grid Energy Storage Battery Systems
9.2.3 Mexico
9.2.3.1 Increased Use of Solar Power Systems in Mexico Fuels Demand for Advanced Battery Systems
9.3 Europe
9.3.1 Germany
9.3.1.1 Rising Installation of Nanowire Batteries at Home to Store Solar Power is Expected to Drive Nanowire Battery Market Growth
9.3.2 UK
9.3.2.1 High Adoption of Electric Vehicles in UK Would Provide Growth Opportunities for Nanowire Battery Market
9.3.3 France
9.3.3.1 French Government's Investments in the Battery Industry to Accelerate Nanowire Battery Market Growth
9.3.4 Rest of Europe
9.3.4.1 Favorable Government Policies Regarding Use of Battery-Powered Vehicles to Boost Demand for Nanowire Batteries
9.4 APAC
9.4.1 China
9.4.1.1 China's Push for Clean Energy Generation to Boost Demand for Advanced Batteries Such as Nanowire
9.4.2 South Korea
9.4.2.1 Presence of Leading Battery Manufacturers Makes South Korea an Attractive Market for Nanowire Batteries
9.4.3 Japan
9.4.3.1 R&D Expenditure to Improve Performance of Batteries in Evs and Smartphones Would Create Lucrative Opportunities for Japanese Market
9.4.4 Rest of APAC
9.4.4.1 Government's Focus on Minimizing Use of Non-Renewable Sources Will Escalate Demand for Advanced Batteries
9.5 RoW
9.5.1 South America
9.5.1.1 Rapidly Growing Demand for Smartphones to Positively Impact Nanowire Battery Market
9.5.2 Middle East
9.5.2.1 Government Plans of Establishing Solar Energy Plants Will Accelerate Demand for Battery-Powered Storage Systems
9.5.3 Africa
9.5.3.1 Abundance of Lithium Reserves in Africa Makes Region Important Market for Nanowire Batteries
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis for Nanowire Battery Manufacturers
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Competitive Situations and Trends
10.6.1 Agreements, Partnerships, and Joint Ventures
10.6.2 Product Launches
10.6.3 Expansions
10.6.4 Contracts
11 Company Profiles
11.1 Key Players
11.1.1 Amprius
11.1.2 Sila Nanotechnologies
11.1.3 Oned Material
11.1.4 Nexeon
11.1.5 NEI Corporation
11.1.6 XG Sciences
11.1.7 LG Chem
11.1.8 Panasonic
11.1.9 Samsung SDI
11.1.10 Enevate
11.2 Other Key Players
11.2.1 ACS Materials
11.2.2 Novarials Corporation
11.2.3 Boston Power
11.2.4 Lithium Werks
11.2.5 Targray
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