The Europe solid-state battery market mainly spans across the economies of the United Kingdom, France, Germany, Spain and the combined countries forming the Rest of Europe. The market is expected to project a CAGR of 67.55% over the forecast period of 2019-2027. The investments in renewable energy along with fuel savings and government incentives for cleaner transportation are propelling the Europe solid-state battery market.
Europe Solid-State battery market will be on the up-surging trend during the forecast period owing to government investments and R&D. Also, rising demand from the military & defence industry and for wearable devices might offer lucrative opportunities for the market to grow in the future. The United Kingdom dominated the solid-state battery market in Europe with revenue of $xx million in 2018. According to the government of the United Kingdom, the government has set-up recently an institution named ’The Faraday Institution’ to help advance its battery technology by continuous researches on solid-state batteries. Although, their manufacturing process is very complex and challenging, which is a major factor that will be restraining the growth of solid-state battery market during the forecast period.
The leading corporations and establishments for the solid-state battery market in this region are Imec, Front Edge Technology Inc., Hitachi Prieto Battery Inc., Robert Bosch, STMicroelectronics N.V., Solid Power Inc., Panasonic Corporation, Toyota Industries Corporation, Infinite Power Solutions Inc. (Acquired By Apple Inc.), Zosen Corporation, Planar Energy Devices Inc., Cymbet Corporation, Dyson, Brightvolt Incorporation and Excellatron Solid State LLC.