north america silicon anode battery Market

The North America silicon anode battery market was valued at US$ 13.8 million in 2019 and is projected to reach US$ 93.0 million by 2027; it is expected to grow at a CAGR of 28.2% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. The consumer electronics industry has blossomed in the region. The density of consumer electronic devices in the region is quite high. Smartphones, tablets, personal computers, music players, DVD players, Television sets, washing machines, and other home based electronic devices have found a wide user base in North America. Lithium ion batteries provide extended battery lives and higher energy efficiencies in these consumer electronic devices and hence, higher number of device manufacturers in North America are using lithium ion batteries. Moreover, these manufacturers are testing silicon anode batteries for integration as silicon anode batteries have more efficiency compared to lithium ion batteries. General Electric, Alpine Electronics, Apple, Inc., BBK Electronics, Harman International, and HP Inc. are some of the major consumer electronics manufacturers in North America.

Further, the American Renewable Energy and Efficiency Act of the U.S. states that the country needs to use 25% of electricity obtained from a renewable energy source to operate, along with implementing energy savings programs in electric and natural gas utilities, which would save ~15% and ~10% on sales, respectively, by the end of 2025. Such government regulations have facilitated the growth of the silicon anode battery providers in the region.

The U.S has higher number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the electronics and semiconductor industry in the region as, due to the COVID-19 outbreak, the supply chain is likely to get affected.

The North America silicon anode battery market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the North America silicon anode battery market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America silicon anode battery market