The Asia-Pacific solid-state battery market is predicted to evolve at a CAGR of 66.20% over the forecast period of 2019-2027. Asia-Pacific solid-state battery market continues to escalate in terms of revenue which is expected to reach up to $XX million by 2027. The economies of China, India, Japan, Australia and the collective countries constituting the Rest of Asia Pacific influence the solid-state battery market trends the most.
The primary applications of the solid-state battery are in the automotive sector, commercial, private and electric vehicles, consumer electronics and in military & defense. The China solid-state battery market accounted for the highest revenue share in 2017. Factors like rising adoption & utility of these batteries in electric vehicles, investments made by private organizations, and initiatives taken by the electronic manufacturing companies are driving the market growth in this region. Other key markets in this region are Japan, India, South Korea, Australia and rest of Asia-Pacific. Japan market for solid-state battery is growing rapidly in this region and is mainly driven by the initiatives taken by the multinational organizations operating in the country.
Some other established companies in the Asia-Pacific market include Front Edge Technology Inc., Dyson, Excellatron Solid State LLC, Hitachi Zosen Corporation, Imec, Infinite Power Solutions Inc. (Acquired By Apple Inc.), Panasonic Corporation, Prieto Battery Inc., Planar Energy Devices Inc., Brightvolt Incorporation, Robert Bosch, STMicroelectronics N.V., Cymbet Corporation, Solid Power Inc. and Toyota Industries Corporation.