Global Solid-State Battery Market is valued approximately at USD 79 million in 2018 and is anticipated to grow with a healthy growth rate of more than 50% over the forecast period 2019-2026. Solid-state batteries are an emerging trend for next-generation traction batteries. These batteries are safer than liquid state batteries and have a higher performance efficiency. It is a high energy and power density battery that has both solid electrodes as well as solid electrolytes. These batteries are easy to miniaturize (thin film) and also restrict the problem of electrolyte leakage. Also, solid state batteries have long shelf lives and do not shows abrupt changes in performance with temperature changes. Owing to such benefit, the demand for solid state batteries is seeing a rise in demand from the end use industries such as consumer electronics, medical devices, wearables and other. Increasing research and development activities and investments in solid state batteries is a major factor which contributes to the growth of global solid-state battery market. For instance, in 2017, A123 systems Inc. one of the battery manufacturers invested in the company named Solid Power Inc. for solid state battery technology. Also, in 2016, Dyson announced to spend an amount of $1.4 billion (by 2021) for solid state battery development. Further as per the company source, the US based IONIC materials company on February 2018 has secured about $65 million from leading group of financial and strategic investors. These investors include companies from the battery manufacturing, consumer electronics and electric vehicle ecosystem for the next generation battery technology. This investment is to speed the development of polymer electrolyte for solid state batteries. Major manufacturing companies are working towards large scale commercialization of solid-state batteries, which is expected to further boost the market over the forecast period. However, high setup and installation cost of solid-state battery impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Solid-State Battery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing demand from packaging, smart cards and electric vehicles. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as strong demand from electric vehicles sector, growing consumer electronics sector and wearable devices in the region would create lucrative growth prospects for the Solid State Battery market across Europe region.
Major market player included in this report are:
Cymbet Corporation Inc.
Robert Bosch GmbH
Toyota Motor Corporation
Excellatron Solid State, LLC
Infinite Power Solution, Inc.
Planar Energy Devices, Inc.
Solid Power, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Battery Capacity: Less Than 20 mAh
Battery Capacity: Between 20 mAh and 500 mAh
Battery Capacity: 500 mAh and Above
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Solid State Battery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers