Solid State Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

The Global Solid State Battery Market is expanding due to the inherent advantages of solid state batteries, growing demand for electric vehicles, and rising demand from consumer electronics such as mobile phones, laptops, computers, and wearable devices are driving the solid state battery market.

A solid state battery is a rechargeable battery that contains solid electrolytes and electrodes. The electrolyte is a solid placed between two electrodes and contains electrically charged particles (ions). It allows ions to travel through it and combine with the anode or cathode (depending on charging or discharging). This chemical reaction allows an electrical charge to flow between the cathode and anode (via a circuit), allowing a battery to produce or store the electric current.

Advantages of solid state Batteries:

• Solid state batteries have 2.5 times higher energy density than lithium-ion batteries
• Solid state batteries are comparatively more durable and safer than Li-ion batteries
• The solid state batteries are non-flammable; hence they use solid electrolytes
• Solid state batteries are comparatively less expensive and compact
• The more excellent electrochemical stability of solid state batteries makes them more reliable
• Solid state batteries are comparatively lighter in weight
• The solid state batteries' recharge rate is 4-6 times more than regular batteries

There are more than 25 types of solid state electrolytes, such as oxides, sulfides, phosphates, polyethers, polyesters, nitrile-based, polysiloxane, polyurethane, etc.

The significant difference between inorganic/ceramic and polymer solid electrolytes is their mechanical property. Ceramics with high elastic moduli are better suited for rigid battery systems, whereas polymers with low elastic moduli are better suited for flexible devices. Polymers are more accessible to process than ceramics, which reduces fabrication costs. Ceramics are ideal for harsh environmental conditions, such as high temperatures.

Applications of Solid State Batteries:

solid state batteries find application across multiple industries, such as automotive, energy storage, consumer electronics, industrial, and aerospace. But, the adoption of solid state batteries is dependent on their value addition and the R&D of solid state batteries in various industries.

The primary industries driving the solid state batteries market are automotive and consumer electronics due to their high energy density and fast charging.

The main markets of Solid State Batteries are:

• Electrical Vehicles Market
• Electronics Market

Electric Vehicles Battery Market:

Globally, in the last half decade, the consumption of batteries in an electric vehicle has been increased rapidly. Electric vehicles are the future of the transportation system. Most automotive manufacturers and governments have announced their targets for a phase out of internal combustion engine (ICE) vehicles owing to environmental regulations.

Also, manufacturers are broadening their electric vehicle portfolios by increasing the average driving range. The resultant increase in the market share of electric vehicles is expected to drive the demand for solid state batteries in electric vehicles. It will force the battery manufacturers to increase the production capacity.

The countries have already introduced pure electric buses, plug-in hybrid and hybrid electric buses for cities, tourism, and others. On the other hand, many companies have introduced logistics vehicles such as heavy trucks and light trucks to reduce CO2 emissions for their commercial operations.

Furthermore, with the increasing market from electric two-wheelers, three-wheelers, and bicycles, the Electric Vehicle battery market is expected to witness unprecedented growth.

Electronics Battery Market:

The advancement of technologies, growing population, decreasing price of electronic goods and the internet has increased the demand for smart devices such as laptop and mobile phones etc., increasing the demand for consumer electronics battery market.

Furthermore, with the onset of a new market from portable electronic devices such as cameras, and healthy devices, where the battery packs can be easily swapped, the Electronics battery market is expected to witness unprecedented growth.

Market Segment:

The global solid state battery market is segmented based on end-user. The global solid state battery market is segmented into Automotive, Portable Electronics, and others based on application.

Solid state battery market opportunities:

• Upgradation and replacement of consumers' electronic batteries
• Markets with great potential - European union, China, the USA, India and others
• The rapid growth of portable battery devices such as medical devices, wearable devices etc

Solid state battery market Restraints:

• High competition from conventional batteries
• Lack of commercialization of solid state batteries
• Cost-competitiveness of solid state batteries compared to its alternatives

Latest Market Trends:

• Volkswagen, BMW, Toyota, Hyundai, and other major car manufacturers are investing in solid state battery companies to scale up the production of solid state batteries
• LG Energy Solution Ltd. and University of California San Diego jointly developed safer and long-lasting solid-state battery technology. This strategy will strengthen the product portfolio of the company and maintain the pace in the highly growing solid-state battery market during the solid state battery market forecast period

The Global solid state battery market comprises sales of solid state batteries that use them for automotive, energy storage, consumer electronics, industrial, and aerospace applications.

Publisher's Global Solid State Battery Market report provides insights into the current global and regional market demand scenario.

The study presents a detailed analysis of various factors that affect Solid State Battery market revenue. The study also comprehensively analyses the flow battery market by segmenting it based on geography (North America, Europe, Asia Pacific, South America, Middle East, Rest of the World), By End-use (Automotive, Consumer Electronics and Others).

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the flow battery market, critical commercial developments, trends, regions, and segments poised for the fastest-growing, competitive landscape.

Further, the report will include the global solid-state batteries market size (CAGR), demand forecast, and growth rates.


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