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
- 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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- 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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021–2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Type, End Use Industry, and Region
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
- QuantumScape Corporation
- BLUE SOLUTIONS
- Solid Power
- ProLogium Technology Co.
- KeraCel, Inc.
- Planar Energy
- Other Key Companies
- NGK SPARK PLUG CO., LTD.
- Ionic Materials, Inc.
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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
- Solid Electrolyte
Solid State Battery Market, by Type
- Primary Battery
- Secondary Battery
Solid State Battery Market, by End Use Industry
- Consumer Electronics
- Energy & Utilities
- Aerospace and Satellite
Solid State Battery Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL SOLID STATE BATTERY MARKET BY COMPONENT, Market Size in USD Million (2019–2027)
7 GLOBAL SOLID STATE BATTERY MARKET BY END USE INDUSTRY, Market Size in USD Million (2019–2027)
8 GLOBAL SOLID STATE BATTERY MARKET BY REGION, Market Size in USD Million (2019–2027)
9 Competitive Landscape
10 Company Profiles
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