Press release
The nanowire battery market size is projected to reach USD 2,228.2 million by 2032, growing at a robust CAGR of 31.5%
Nanowire Battery Market, Market Size, Market Share, Market Forecast, Market Trends, Competitive Landscpape, SWOT Analysis
The need for nanowire batteries is predicted to increase due to energy storage applications. Energy Storage Systems (ESS) companies are investing in grid-scale battery storage capacity, which is likely to boost revenue growth over the projection period. The IEA estimated that battery energy storage investments will be worth USD 35 billion by 2023.
This large increase in capacity allows batteries to store more energy in the same amount of space, extending the range and performance of products such as electric cars and portable gadgets. Conventional battery materials, such as graphite, have a theoretical capacity of just 372 mAh/g. Silicon nanowires have a theoretical capacity of around 4,200 mAh/g, which is more than ten times more.
However, procurement restriction on several critical materials is expected to limit the revenue growth of the market. Critical raw materials used in nanowire battery manufacturing include germanium, silicon, transition metal oxides (TMO), and gold. On 3rd December 2024, China has banned the shipment of gallium, germanium, antimony, and some essential materials to the United States.
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Segment market overview and growth Insights:
The silicon material type segment contributed a substantial revenue share in 2024. The increasing demand for silicon nanowires for high-energy-density consumer electronics products and batteries is fueling revenue growth. These nanowires are made utilizing the supercritical-fluid-liquid-solid (SFLS) technique and have diameters ranging from 10 to 50 nanometers and lengths of more than 100 micrometers. Battery manufacturers are increasingly utilizing silicon materials to increase overall battery efficiency and address rising consumer and business demand for more rapid, longer-lasting energy storage solutions
The Medium Capacity (1000-5000 mAh) segment accounts for a significant revenue share in 2024. Medium-capacity silicon-nanowire microcell provides around three to five times the energy of a normal graphite cell. It has the ability to connect these medium-capacity cells into modular battery packs, increasing manufacturers' options for mid-range electric mobility systems. Smart watches, small electronic devices, and portable health gadgets increasingly require consistent electricity that charges quickly. To meet the growing requirement of consumer wearable and portable devices, the demand is expected to grow substantially by 2032.
Regional market overview and growth insights:
North America registered the highest market share in the nanowire battery market. Rising demand for EV sales in this region is supporting revenue growth of the market. According to the International Energy Agency (IEA), electric vehicles (EV) sales accounts for 10% revenue share and total 1.6 million sold in 2024. Several key competitors are raising funds and government grants, which are further expected to propel revenue growth over the forecast period. For instance, on 20th September 2024, NanoGraf Corporation received a USD 60 million grant from the US Department of Energy's Office of Manufacturing and Energy Supply Chains.
Europe contributed a significant revenue share in 2024. Rapid demand for renewable demand and the requirements for energy storage systems (ESS) are projected to generate revenue growth over the forecast period. According to the European Commission (EC), Europe currently has over 66 GW of operational electricity capacity, with future developments expected to quadruple that amount to 132 GW by 2035.
Competitive Landscape and Key Competitors:
The Nanowire Battery Market is characterized by numerous players, with major players competing across segments and regions. The list of major players included in the Nanowire Battery Market report is:
• Amprius Technologies, Inc.
• OneD Battery Sciences
• NanoGraf Corporation
• Nanotech Energy
• Hitachi High-Tech Corporation
• Enevate Corporation
• Nexeon Ltd.
• Panasonic Group
• Sila Nanotechnologies Inc.
• Prieto Battery Inc.
• Zeon Corporation
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Major strategic developments by leading competitors:
Amprius Technologies, Inc.: On 4th November 2024, Amprius Technologies started delivery of SiMaxx A-Sample EV cells to the United States Advanced Battery Consortium LLC (USABC). USABC is working on developing battery cell and system technologies to meet the growing cost and efficiency requirements of next-generation electric cars. These newly supplied cells are designed to address primary problems experienced by EV customers, such as limited driving range and long charge times.
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Navistrat Analytics has segmented the nanowire battery market on the basis of material type, battery type, power capacity, technology, life cycle, application, distribution, and region:
Material Type Outlook (Revenue, USD Million; 2022-2032)
• Germanium
• Silicon
• Transition Metal Oxides (TMO)
• Gold
Battery Type Outlook (Revenue, USD Million; 2022-2032)
• Lithium-ion Batteries
• Sodium-ion Batteries
• Nickel-Cadmium Batteries
• Zinc-ion Batteries
• Potassium-ion Batteries
Power Capacity Outlook (Revenue, USD Million; 2022-2032)
• Low Capacity (5000 mAh)
Technology Outlook (Revenue, USD Million; 2022-2032)
• Advanced Lead-Acid Batteries
• Solid-State Batteries
• Flow Batteries
Life Cycle Outlook (Revenue, USD Million; 2022-2032)
• Primary Batteries
• Secondary Batteries
Application Outlook (Revenue, USD Million; 2022-2032)
• Consumer Electronics
• Automotive
• Energy Storage
• Healthcare
• Power Generation
• Defense & Aerospace
• Others
Distribution Channel Outlook (Revenue, USD Million; 2022-2032)
• Original Equipment Manufacturers (OEMs)
• Aftermarket
Regional Outlook (Revenue, USD Million; 2022-2032)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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