Solid State Battery Market

Global Solid State Battery Market Report: By Type (Thin-Film Batteries, Portable Batteries, and Other), Category (Single-cell Battery and Multi-cell Battery), Capacity (Less Than 20 mAh, Between 20 mAh -500 mAh, and Above500 mAh), Rechargeability (Primary Battery and Secondary Battery), Application (Consumer Electronics, Electric Vehicle, Energy Harvesting, Entertainment, Medical Devices, Packaging, Portable Devices, Smart Cards, Wearable Devices, Wireless Communication, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Electronics & Semiconductor | February 2024 | Report ID: EMR00575 | Pages: 301

Global Solid State Battery market is predicted to reach approximately USD 7.35 billion by 2032, at a CAGR of 21.86% from 2024 to 2032.

Solid-state batteries represent a paradigm shift in battery technology, offering superior performance, enhanced safety, and longer lifespan compared to traditional lithium-ion batteries. These batteries utilize solid electrolytes instead of liquid or gel electrolytes found in conventional batteries, enabling higher energy density and faster charging rates. With applications spanning across various industries such as automotive, consumer electronics, and renewable energy, solid-state batteries are driving innovation and reshaping the future of energy storage solutions. The market is propelled by increasing demand for electric vehicles (EVs) with longer driving ranges, coupled with growing concerns about environmental sustainability and the need for energy-efficient technologies.

 

 

Global Solid State Battery report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 1.24 billion

Projected Market Value (2032)

USD 7.35 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Type, By Category, By Capacity, By Rechargeability, By Application, & Region.

Segments Covered

By Type, By Category, By Capacity, By Rechargeability, By Application, & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Solid State Battery dynamics

Rapid advancements in technology and materials science are propelling the market forward, enabling the development of solid electrolyte materials with improved conductivity and stability. These technological breakthroughs are fostering intense competition among industry players, driving research and development efforts to enhance battery performance and reduce manufacturing costs. Additionally, stringent regulatory frameworks aimed at curbing greenhouse gas emissions and promoting sustainable energy solutions are incentivizing the adoption of solid-state batteries in electric vehicles, consumer electronics, and renewable energy systems. The growing emphasis on energy efficiency, coupled with increasing investments in electric vehicle infrastructure and renewable energy projects, is further bolstering market growth.

Moreover, shifting consumer preferences towards electric vehicles with longer driving ranges and faster charging capabilities are fuelling demand for high-performance solid-state batteries. The automotive industry, in particular, is witnessing a significant surge in investments and partnerships aimed at developing next-generation battery technologies to meet evolving consumer expectations and regulatory requirements. Furthermore, strategic collaborations between battery manufacturers, automakers, and technology firms are driving innovation and accelerating the commercialization of solid-state batteries. However, challenges such as scalability, manufacturing complexity, and the need for standardization pose hurdles to widespread adoption.

 

Global Solid State Battery drivers

  • Advancements in Technology:

Solid-state battery development is progressing significantly due to ongoing advances in materials science, nanotechnology, and battery engineering. Advancements in solid electrolyte composition, electrode structure, and production techniques are augmenting the efficacy, security, and energy density of solid-state batteries. Higher efficiency, longer lifespans, and faster charging rates are made possible by these technological advancements, which is hastening the solid-state battery's adoption in a number of industries, including automotive, electronics, and renewable energy.

  • Regulatory Support and Environmental Concerns:

Solid-state battery adoption is being driven by strict regulations that aim to reduce greenhouse gas emissions and promote sustainable energy solutions. Solid-state battery technology is helping to promote the shift to electric vehicles and renewable energy sources, which are being supported by policies and incentives put in place by governments across the globe. Furthermore, the market for solid-state batteries is being further propelled by growing consumer awareness and concerns about environmental sustainability, which is driving demand for cleaner energy storage solutions.

 

Restraints:

  • High Manufacturing Costs:

Solid-state battery production is still an expensive and intricate process, despite advances in technology. Higher production costs than with conventional lithium-ion batteries are a result of the need for specialised machinery and exact control over manufacturing parameters in order to produce solid electrolytes and integrate them into battery cells. High manufacturing costs prevent solid-state battery production from scaling up and prevent their widespread use, especially in markets where cost is a factor.

  • Limited Scalability and Commercialization Challenges:

The commercialization of solid-state batteries faces scalability challenges related to production volume, supply chain management, and manufacturing infrastructure. Scaling up production to meet increasing demand while maintaining product quality and consistency is a significant challenge for battery manufacturers. Moreover, the transition from research and development to mass production requires substantial investments in production facilities, equipment, and workforce training, which may deter potential investors and delay market entry.

 

Opportunities:

  • Energy Storage Solutions for Renewable Energy:

The demand for sophisticated energy storage solutions that can efficiently store and distribute intermittent renewable energy is being driven by the shift to renewable energy sources like solar and wind power. Solid-state batteries are a good choice for grid-scale energy storage applications because of their high energy density, quick cycle life, and quick charging rates. The market for solid-state batteries in energy storage solutions is anticipated to grow as the demand for renewable energy sources keeps rising, offering chances for battery producers, utilities, and renewable energy developers to profit from this developing market niche.

 

Segment Overview

  • By Type

The types of solid-state batteries include thin-film batteries, portable batteries, and other specialized variants. Thin-film batteries are characterized by their ultra-thin profile and flexibility, making them suitable for applications where space and weight are critical factors. Portable batteries are designed for use in consumer electronics, wearable devices, and other portable gadgets, offering compactness and lightweight for on-the-go usage. The "other" category comprises niche variants tailored to specific industrial or research applications, leveraging solid-state battery technology for specialized purposes.

  • By Category:

Solid-state batteries are categorized as single-cell or multi-cell batteries based on their configuration and cell arrangement. Single-cell batteries consist of a single electrochemical cell, offering simplicity and compactness for applications with space constraints. Multi-cell batteries feature multiple interconnected cells, providing higher energy capacity and voltage levels, suitable for demanding applications such as electric vehicles and grid-scale energy storage systems.

  • By Capacity:

Capacity segmentation categorizes solid-state batteries based on their energy storage capacity. Batteries with a capacity of less than 20 mAh are typically used in small electronic devices, sensors, and smart cards where power requirements are minimal. Those ranging between 20 mAh to 500 mAh find applications in various consumer electronics, wearable devices, and portable gadgets, offering a balance between size and energy output. Batteries with capacities above 500 mAh are deployed in high-power applications such as electric vehicles, medical devices, and grid-scale energy storage solutions, where longer runtime and higher energy demands are essential.

  • By Rechargeability:

Solid-state batteries are classified as primary or secondary batteries based on their rechargeability. Primary batteries are designed for single-use applications, offering convenient and maintenance-free power solutions for devices like remote controls, disposable medical devices, and electronic toys. Secondary batteries, also known as rechargeable batteries, can be recharged and reused multiple times, making them ideal for applications requiring extended operational lifespans and reduced environmental impact.

  • By Application:

The diverse applications of solid-state batteries encompass consumer electronics, electric vehicles, energy harvesting, entertainment, medical devices, packaging, portable devices, smart cards, wearable devices, wireless communication, and other specialized fields. Each application leverages the unique characteristics of solid-state batteries to enhance performance, safety, and sustainability, driving innovation and market growth across various industries and sectors.

 

Global Solid State Battery Overview by Region

North America, driven by the United States, holds a prominent position in the market, owing to robust research and development activities, strategic collaborations between industry stakeholders, and government initiatives to promote clean energy technologies. The region's thriving electric vehicle market, coupled with increasing investments in renewable energy infrastructure, fuels demand for solid-state batteries across automotive, consumer electronics, and energy storage applications. In Europe, countries like Germany, France, and the United Kingdom lead the charge towards decarbonization and sustainable mobility, driving significant investments in solid-state battery technology. The European Union's stringent emission targets and incentives for electric vehicle adoption further accelerate market growth. Asia Pacific emerges as a key hub for solid-state battery production and innovation, with countries like Japan, South Korea, and China at the forefront of technological advancements. Rapid urbanization, increasing disposable incomes, and government support for electric vehicle adoption propel market expansion in the region. China, in particular, boasts a robust manufacturing ecosystem and a rapidly growing electric vehicle market, positioning itself as a global leader in solid-state battery production and deployment.

 

 

Global Solid State Battery market competitive landscape

Leading companies such as Toyota, Samsung SDI, and Panasonic Corporation are at the forefront of innovation, leveraging their extensive R&D capabilities and manufacturing expertise to develop cutting-edge solid-state battery technologies. These industry giants focus on strategic partnerships, acquisitions, and investments to bolster their product portfolios and gain a competitive edge in the market. Start-ups and emerging players, including QuantumScape, Solid Power, and ProLogium, are driving innovation and disrupting the market with novel approaches to solid-state battery design and manufacturing. These nimble contenders capitalize on venture capital funding, government grants, and collaborative research initiatives to accelerate technology development and scale up production capabilities. Moreover, a vibrant ecosystem of research institutions, academic organizations, and industry consortia fosters collaboration and knowledge exchange, driving advancements in solid-state battery materials, manufacturing processes, and performance optimization. As market demand intensifies and regulatory pressures mount, players across the solid-state battery value chain are compelled to enhance product quality, reduce costs, and address critical performance parameters to meet evolving customer requirements and gain a competitive advantage.

 

Global Solid State Battery Recent Developments

  • Dec 2023, Changan Automobile, a prominent player in the automotive industry, and Ganfeng Lithium, the world's leading lithium producer by market capitalization, have forged a collaborative venture with equal ownership stakes.
  • Oct 2022, Automotive Cells Company (ACC) and ProLogium Technology have entered into a Memorandum of Understanding (MOU) to collaborate on the advancement of solid-state batteries for electric vehicles (EVs). The agreement outlines joint efforts between ACC and ProLogium to develop solid-state EV batteries. Together, they will work on creating "ProLogium Inside" EV battery solutions for customers, leveraging ProLogium's cutting-edge solid-state battery technology. Additionally, both parties will explore supply chain and industrial agreements to support the development and production process.  

 

Scope of global Solid State Battery report

Global Solid State Battery report segmentation

ATTRIBUTE

DETAILS

By Type  

  • Thin-Film Batteries
  • Portable Batteries
  • Other

By Category

  • Single-cell Battery
  • Multi-cell Battery

By Capacity

  • Less Than 20 mAh
  • Between 20 mAh - 500 mAh
  • Above 500 mAh

By Rechargeability

  • Primary Battery
  • Secondary Battery

By Application

  • Consumer Electronics
  • Electric Vehicle
  • Energy Harvesting
  • Entertainment
  • Medical Devices
  • Packaging
  • Portable Devices
  • Smart Cards
  • Wearable Devices
  • Wireless Communication
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Solid State Battery size and forecast: To identify and estimate the market size for global Solid State Battery market segmented by Type, By Category, By Capacity, By Rechargeability, By Application, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Solid State Battery
  • Market Influencing Factors: To find out the factors which are affecting the market of global Solid State Battery among consumers.
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Solid State Battery forecast period is 2024 - 2032
According to global Solid State Battery research, the market is expected to grow at a CAGR of ~ 21.86% over the next eight years.
The possible segments in global Solid State Battery are based on by Type, By Category, By Capacity, By Rechargeability, By Application, & by region.
The expected market size for Global Solid State Battery is USD 1.24 billion in 2023.
The major players in the market are Panasonic Corporation, SAMSUNG SDI CO., LTD., LG Chem., NEXEON LTD., Los Angeles Cleantech Incubator, Enevate Corporation, Zeptor Corporation, CONNEXX SYSTEMS Corp., XGSciences, California Lithium Battery, City of Irvine, Amprius Technologies, Solid Energy A/S, ActaCell, Inc., OneD Material, Inc., Hitachi Chemical Co., Ltd., and Huawei Technologies Co., Ltd..