The solid-state lithium battery market was valued at $0.4 billion in 2023, and is projected to reach $1.3 billion by 2030, growing at a CAGR of 18.2% from 2024 to 2030.
A solid-state lithium battery is an advanced form of lithium-ion battery technology that uses a solid electrolyte instead of the conventional liquid or gel electrolyte found in standard lithium-ion batteries. This shift to solid materials enhances energy density, safety, and battery longevity, making it a promising solution for applications ranging from electric vehicles (EVs) to portable electronics and renewable energy storage. Leading automakers and tech companies are exploring this technology as a next-generation energy storage solution, aiming to overcome the limitations of current lithium-ion batteries and accelerate the transition to a more sustainable energy future.
The growth of the global solid-state lithium battery market is majorly driven by increase in penetration of EVs. Solid-state lithium batteries, with their higher energy density, faster charging, and improved safety compared to conventional lithium-ion batteries, are seen as a solution to enhance the range and efficiency of EVs. According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase.
Moreover, surge in demand for portable consumer electronics is significantly contributing toward the growth of the global market. This is attributed to the fact that solid-state batteries are increasingly being integrated in smart devices to mitigate the risk of combustion and leakage, thus offering superior safety by replacing liquid electrolyte. Moreover, solid-state batteries prevent the formation of dendrite, which are needle-like structures that lead to short-circuit in batteries. Furthermore, increase in sustainability and environmental concerns boosts the growth of the market. This is attributed to the fact that these batteries offer high energy efficiency and significantly lower environmental impact.
In addition, some solid electrolytes are made from nontoxic and abundantly available materials, which make them sustainable and cost-efficient. A 2022 lifecycle analysis conducted by Massachusetts Institute of Technology found that solid-state lithium batteries could reduce carbon emissions by 39% compared to traditional lithium-ion batteries over their entire lifecycle, from production to disposal. However, high manufacturing cost associated with solid-state lithium batteries due to the complexity of materials, such as solid electrolytes and lithium metal anodes, and the need for specialized manufacturing processes significantly hampers the growth of the market.
Lack of an established supply chain and infrastructure for solid-state battery production, testing, and deployment further restraints the market growth. Moreover, the market growth is significantly hampered by improper disposal practices of batteries that can lead to several environmental and health issues due to toxicity of chemical additives. On the contrary, implementation of supportive government initiatives for proper battery disposal is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
For instance, the Government of India has implemented the Hazardous Waste Management Rules, 2016, issued under the Environmental Protection Act (EPA) of 1986, which ensure strict adherence to the disposal and recycling of lead-acid batteries in India. Furthermore, continuous advancements in materials and manufacturing processes, such as breakthroughs in solid electrolyte development and cost-effective production techniques, are expected to provide lucrative opportunities for the growth of the market.
The global solid-state lithium battery market overview is segmented by manufacturing type, application, and region. By manufacturing type, the market is classified into thin-film battery, bulk battery, and others. On the basis of application, it is divided into consumer electronics, electric vehicles, energy storage systems, medical devices, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of application, the EVs segment was the major shareholder in 2023 and is anticipated to dominate during the forecast period.
Region wise, Asia-Pacific was the fastest growing region in terms of revenue in 2023.
A solid-state lithium battery is an advanced form of lithium-ion battery technology that uses a solid electrolyte instead of the conventional liquid or gel electrolyte found in standard lithium-ion batteries. This shift to solid materials enhances energy density, safety, and battery longevity, making it a promising solution for applications ranging from electric vehicles (EVs) to portable electronics and renewable energy storage. Leading automakers and tech companies are exploring this technology as a next-generation energy storage solution, aiming to overcome the limitations of current lithium-ion batteries and accelerate the transition to a more sustainable energy future.
The growth of the global solid-state lithium battery market is majorly driven by increase in penetration of EVs. Solid-state lithium batteries, with their higher energy density, faster charging, and improved safety compared to conventional lithium-ion batteries, are seen as a solution to enhance the range and efficiency of EVs. According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase.
Moreover, surge in demand for portable consumer electronics is significantly contributing toward the growth of the global market. This is attributed to the fact that solid-state batteries are increasingly being integrated in smart devices to mitigate the risk of combustion and leakage, thus offering superior safety by replacing liquid electrolyte. Moreover, solid-state batteries prevent the formation of dendrite, which are needle-like structures that lead to short-circuit in batteries. Furthermore, increase in sustainability and environmental concerns boosts the growth of the market. This is attributed to the fact that these batteries offer high energy efficiency and significantly lower environmental impact.
In addition, some solid electrolytes are made from nontoxic and abundantly available materials, which make them sustainable and cost-efficient. A 2022 lifecycle analysis conducted by Massachusetts Institute of Technology found that solid-state lithium batteries could reduce carbon emissions by 39% compared to traditional lithium-ion batteries over their entire lifecycle, from production to disposal. However, high manufacturing cost associated with solid-state lithium batteries due to the complexity of materials, such as solid electrolytes and lithium metal anodes, and the need for specialized manufacturing processes significantly hampers the growth of the market.
Lack of an established supply chain and infrastructure for solid-state battery production, testing, and deployment further restraints the market growth. Moreover, the market growth is significantly hampered by improper disposal practices of batteries that can lead to several environmental and health issues due to toxicity of chemical additives. On the contrary, implementation of supportive government initiatives for proper battery disposal is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
For instance, the Government of India has implemented the Hazardous Waste Management Rules, 2016, issued under the Environmental Protection Act (EPA) of 1986, which ensure strict adherence to the disposal and recycling of lead-acid batteries in India. Furthermore, continuous advancements in materials and manufacturing processes, such as breakthroughs in solid electrolyte development and cost-effective production techniques, are expected to provide lucrative opportunities for the growth of the market.
The global solid-state lithium battery market overview is segmented by manufacturing type, application, and region. By manufacturing type, the market is classified into thin-film battery, bulk battery, and others. On the basis of application, it is divided into consumer electronics, electric vehicles, energy storage systems, medical devices, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By manufacturing type, the thin-film segment held the highest market share in 2023 and is expected to maintain its leadership status from 2024 to 2030.On the basis of application, the EVs segment was the major shareholder in 2023 and is anticipated to dominate during the forecast period.
Region wise, Asia-Pacific was the fastest growing region in terms of revenue in 2023.
Competition Analysis
Competitive analysis and profiles of the major players in the global solid-state lithium battery market include Solid Power Inc., SAMSUNG SDI CO., LTD, Blue Solutions., Ilika, Toyota, SES AI Corporation, Hitachi Zosen Corporation, Johnson Energy Storage, Inc., QuantumScape Battery, Inc., and Excellatron. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Manufacturing Type
- Thin-Film Battery
- Bulk Battery
- Others
By Application
- Consumer Electronics
- Electric Vehicles (EVs)
- Energy Storage Systems
- Medical Devices
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Solid Power Inc.
- SAMSUNG SDI CO., LTD
- Blue Solutions.
- Ilika
- Toyota
- SES AI Corporation
- Hitachi Zosen Corporation
- Johnson Energy Storage, Inc.
- QuantumScape Battery, Inc
- Excellatron
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: SOLID-STATE LITHIUM BATTERY MARKET, BY MANUFACTURING TYPE
CHAPTER 5: SOLID-STATE LITHIUM BATTERY MARKET, BY APPLICATION
CHAPTER 6: SOLID-STATE LITHIUM BATTERY MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Solid Power Inc.
- SAMSUNG SDI CO., LTD
- Blue Solutions.
- Ilika
- Toyota
- SES AI Corporation
- Hitachi Zosen Corporation
- Johnson Energy Storage, Inc.
- QuantumScape Battery, Inc
- Excellatron
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 340 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 0.4 billion |
| Forecasted Market Value ( USD | $ 1.3 billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
