Global Solid State Battery Market is projected to reach a value of over USD 454.7 million by 2027

Solid State Battery Market: Summary

The Global Solid State Battery Market is projected to reach a value of over USD 454.7 million by 2027 at a CAGR of around 32.6%

Solid state batteries are defined as those batteries which uses solid electrodes and solid electrolytes. They are considered as prospective replacement of usual lithium- ion batteries in which electrolytes used is in liquid form. As compared to conventional batteries, solid state batteries are gaining consideration because of high performance, low flammability, higher energy density, higher potential cathode, and better electrochemical stability. The solid state batteries can be used primarily in electric vehicles, beside it they can also be used in smartphones, smart wearables, and devices used in smart homes.

Solid State Battery Market: Driver & Opportunity

Market Driver:

  • Growing Demand for Electric Vehicles

The demand for electric vehicles is a prominent factor driving the solid state battery market. Electric vehicles are gaining enormous popularity primarily in the developed nations. According to International Energy Agency, in 2019, the sales for electric cars was around 2.1 million across the globe. The supportive regulations by the governing authorities, developing charging infrastructure, giving benefits to the private charging station owners are few key factors supporting growth of the electric vehicles which results in the demand of solid state battery.

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Market Opportunity:

  • Partnership Between Automobile Manufacturers and Battery Manufacturers

The automobile makers are investing huge amount in the development of the solid state battery to get the edge in the market. Some key players of the automotive sector may partner with the battery manufacturers to get the backward integrated supply unit in the near future. BMW, a Germany-based automotive company invested USD 20 million in Solid Power a battery manufacturing firm to boost the production of solid state battery, as the automaker has planned to launch 12 different models of electric vehicles by 2025.

Thus, partnership of automobile manufacturers and battery manufacturers in coming decade can be a driving factor for the growth of the market during the assessment years.

Solid state battery Market: Key Segments

  • Segmentation based on component: Anode, Cathode, and Solid Electrolyte
  • Segmentation based on type: Primary Battery, and Secondary Battery.
  • Segmentation based on end use industry: Automobile, Consumer Electronics, Energy & Utilities, Aerospace and Satellite, and Others
  • Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.

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Solid State Battery Market: Report Scope

The report on the solid state battery market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2021–2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Component, Type, End Use Industry, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • Cymbet (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Robert Bosch GmbH
  • BrightVolt
  • QuantumScape Corporation
  • Excellatron
  • Solid Power
  • ProLogium Technology Co.
  • KeraCel, Inc.
  • Planar Energy
  • Other Key Companies
  • Ilika
  • STMicroelectronics
  • Ionic Materials, Inc.
  • Others

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Solid State Battery Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Solid State Battery Market, by Component

  • Anode
  • Cathode
  • Solid Electrolyte
  • Inorganic
  • Sulfides
  • Oxides
  • Phosphates
  • Others
  • Polymer

Solid State Battery Market, by Type

  • Primary Battery
  • Secondary Battery

Solid State Battery Market, by End Use Industry

  • Automobile
  • Consumer Electronics
  • Energy & Utilities
  • Aerospace and Satellite
  • Others

Solid State Battery Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • Taiwan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Norway
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis




9 Competitive Landscape

10 Company Profiles

11 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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