Nanowire Battery Market

Global Nanowire Battery Market Size (2024-2029):

The global nanowire battery market is estimated to be USD 231 million in 2024 and is projected to reach USD 1,464 million by 2029, at a CAGR of 44.63% from 2024 to 2029.

MARKET SCENARIO

The market growth is developed by an increase in demand for batteries with increasing expenditure on R&D activities by the growing consumer electronics industry, high charge retention capacity, and automotive companies. A nanowire battery could be a technology that uses nanowires to extend the surface area of its electrodes. Nanowires are structures whose diameter ranges in tens of nanometres or less. Nanowires give better strain relaxation and interface control, thus providing a better lifecycle. These wires have the unique ability to expand four times their original size when charged without fracturing. As compared to standard batteries, the graphite anode is replaced with these nanowires to boost the battery's performance. Lithium-ion could be a nanowire battery, which uses a stainless-steel anode covered by silicon nanowires. Germanium anodes are replaced and used in place of graphite anodes.

MARKET TRENDS

A nanowire battery is a battery that is comprised of Cost-Effective Nanowires, for increasing the area of the electrodes. The most effective part about these batteries is their higher count of recharge cycles. The energy storage aspects are close to experiencing a huge makeover, and therefore the future is bright with its implementation. Most companies and industries have already adopted nanowires and batteries, which improves the demand predictions for this forecasted period.

Nanotechnology is soon about to become a reality because the introduction of nanowire batteries already exists within the world. Because the demands are high, consumers and industries are adopting these technologically advanced batteries on a bigger scale. The best part about it is that it's long-lasting and might survive thousands of recharge cycles without breaking down. And that is what's pushing the highest brands across various regions of the world to be a part of the worldwide Nanowire battery market.

MARKET DRIVERS

One of the main drivers of the worldwide nanowire battery market is that industries and consumers seek technologically advanced products for running their applications. Traditional batteries aren't sufficient enough to withstand the ability requirements for diverse applications. Therefore, the demand rate is supposedly increasing for nanowire batteries as they're modern technologies and might enhance business productivity.

Another major market driving factor of the market of global nanowire batteries is that the product can handle thousands of recharge cycles. As a result, battery life is recorded to be more than the traditional batteries, which is a significant reason for the increased demand for these sorts of batteries. Another major market driver aspect of nanowire batteries is their low manufacturing cost. These batteries don't demand high production costs and can be highly adaptable within the coming years.

MARKET RESTRAINTS

The year 2020 was the year of an epidemic that impacted the market adversely and was the main restraint for a couple of months. But with the collective help of the key players and higher authorities, the companies are now regaining their momentum, and so is that the nanowire battery industry.

Apart from these, there's a major restraint for the market of global nanowire battery, i.e., their susceptibility towards the edge effect. In such scenarios, the battery conductivity gets affected, and therefore the bonding of the atoms within nanowires decreases over time. Hence, this is often one of the main factors which will hamper the growth potential of the nanowire battery market.

MARKET OPPORTUNITIES

Traditional batteries are now experiencing a downfall because of their small life span. The applications can't be expected to run seamlessly when connected to traditional batteries. Therefore, the population has now adapted nanowire batteries for industrial and commercial applications across various regions of the world. The main opportunities that are yet to return for the worldwide market are that soon nanowire batteries are going to be utilized in marine applications and drones. Alongside that, the rapid increase in the use of phones, wearable devices, laptops, etc. is boosting the market to enjoy fruitful revenue generation.

The key players across the world in several regions are experiencing a huge spike in the demand cycle. Therefore, they're implementing new manufacturing strategies to extend the availability rate. The intended audience for the market is technology investors, OEMs, battery manufacturers, nanowire providers, automotive companies, and consumer electronics manufacturers. With the increase in adaptation scale, the worldwide nanowire market is about to experience an enormous boom within the coming years.

IMPACT OF THE COVID-19 PANDEMIC ON THE NANOWIRE BATTERY MARKET

Similar to the other industry, the nanowire battery market also experienced a downfall because the consumers weren't keen to invest in it during the financial and business crisis. Therefore, the sales rate dropped for a couple of months in 2020., The companies are running with full potential, and therefore the demand rate is increasing since the last months of 2020. People from different parts of the planet have understood the true efficacy of embedding nanowire batteries above normal ones. And therefore, the efficient perks are accumulated to plug the merchandise on a bigger scale.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Nanowire Battery Market Analysis By Type

The need for increased battery life and faster recharging time are the growing trends within the present battery ecosystem. Moreover, growing electric mobility and miniaturization of consumer electronics has created an increased requirement for advanced energy storage for batteries. Nanostructured silicon has developed hugely because of the most promising anode material because of its high theoretical charge retention capacity of 4,296 mAh/gm, which is ten times quite traditional graphite. The obtained high energy density silicon is ideal for energy-intensive applications, like electric vehicles, consumer electronics, and electric grid energy storage.

Global Nanowire Battery Market Analysis By Industry

Nowadays, innovations are happening within the healthcare industry. However, these implantable devices use lithium-ion batteries as power sources, which presents a substantial number of questions of safety to the patients. Therefore, upcoming nanowire batteries, which are lighter, safer, and have more energy density, are expected to exchange lithium-ion batteries for implantable devices within the coming years.

REGIONAL ANALYSIS

The Nanowire Battery Market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. The Asia Pacific region is anticipated to guide the worldwide Nanowire Battery market during the forecast period. The increasing demand for various wearable devices and smartphones in countries like South Korea, India, China, and Japan is anticipated to contribute to the general growth of the nanowire battery market in this region. The high potential within the Asia Pacific region for future opportunities is caused thanks to fast industrialization and urbanization mainly in countries like India, Japan, and China. This is the primary reason for its booming market values within the global nanowire battery market.

KEY PLAYERS IN THE GLOBAL NANOWIRE BATTERY MARKET

Companies playing a prominent role in the global nanowire battery market include Amprius (US), Sila Nanotechnologies (US), OneD Material (US), Nexeon (UK), NEI Corporation (US), XG Sciences (US), LG Chem (South Korea), Samsung SDI (South Korea), Enevate (US), ACS Materials (US), Novarials Corporation (US), Boston Power (US), Lithium Werks (Netherlands), Targray (Canada), and Others.

RECENT HAPPENINGS IN THE GLOBAL NANOWIRE BATTERY MARKET

• In March 2019, Sila Nanotechnologies entered into an agreement with BMW Group (Germany), a leading Manufacturer of automotive products, to develop batteries with high energy density by using silicon rather than graphite because of the anode material. BMW expects to include the new batteries in its electric vehicles by 2023.
• In January 2019, Samsung SDI signed a contract with Harley Davidson (US), a number one manufacturer of premium motorcycles. Harley Davidson introduced its first electric motorcycle - LiveWire, equipped with Samsung SDI’s lithium-ion battery pack at CES 2019 held in Las Vegas, US.

DETAILED SEGMENTATION OF THE GLOBAL NANOWIRE BATTERY MARKET INCLUDED IN THIS REPORT

This research report on the global nanowire battery market has been segmented and sub-segmented based on type, industry, and region.

By Type

• Silicon
• Germanium
• Transition Metal Oxides
• Gold

By Industry

• Consumer Electronics
• Automotive
• Aviation
• Energy
• Medical Devices

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa