Global solid-state battery market
DUBLIN, Feb. 9, 2024 (Globe Newswire) — Global Solid State Battery Market by Type (Single Cell, Multicell), Capacity (Less than 20 mAh, 20-500 mAh, Above 500 mAh), Battery Type (Primary, Secondary), Applications (Home Appliances, Electric Vehicles, Medical Equipment), Region – Forecast to 2030″ report added. ResearchAndMarkets.com Recruitment.
The global solid-state battery market is expected to grow from $85 million in 2023 to $963 million by 2030, at a CAGR of 41.5% from 2023 to 2030. Electric vehicles require batteries that are superior to conventional batteries in terms of energy density. And safety. This has increased the demand for solid-state batteries for electric vehicles.
The key players profiled in this report are: Blue Solutions (France), Ilika (UK), Solid Power (USA), QuantumScape (USA), ProLogium Technology Co., Ltd. (Taiwan), BrightVolt ( Excellatron (USA), Sakuu Corporation (USA), Hitachi Zosen Corporation (Japan), etc.
The primary battery segment is projected to grow at a significant CAGR during the forecast period
Primary solid-state batteries have applications in smart consumer devices, medical devices such as skin patches, and wireless sensors used in some IoT devices. Additionally, the growing trends in the Internet of Things (IoT), 5G communications, and artificial intelligence (AI) in industries such as consumer electronics and healthcare are driving the demand for such batteries. These applications are expected to drive demand for primary batteries from 2023 to 2030.
The sub-20 mAh capacity segment is projected to grow at an impressive CAGR during the forecast period
Batteries under 20 mAh are designed to provide relatively low energy output, making them suitable for applications that require minimal power consumption. Solid-state batteries below 20 mAh are explicitly tailored for low-power applications, such as RFID tags, smart labels, smart cards, and packaging applications such as medical and cosmetic patches. These devices require compact, low-power batteries that fit into limited spaces. Increasing adoption of smaller batteries in various applications is expected to drive growth in the sub-20 mAh segment.
Wireless sensor applications are expected to hold significant market share during the forecast period
Wireless devices such as wireless speakers, mice, keyboards, Bluetooth headsets, wireless handheld devices, wireless sensors, and Internet of Things (IoT) devices have become extremely popular over the past decade. These devices have limited internal space. Therefore, power supply has always been a concern for manufacturers. The advantage of solid-state batteries is their compact size and high energy density, making them easy to integrate into wireless sensors. In addition to this, manufacturers may also stack these batteries to extend the voltage range. Therefore, the wireless sensor market is expected to grow significantly.
The European market is expected to grow at a significant CAGR during the forecast period
The main applications of the European solid-state battery market include packaging, consumer electronics, electric vehicles, and medical devices. The European packaging industry is seeing a shift towards greater visibility and intensive data collection for manufacturers, and greater hygiene and convenience for end users. This has led manufacturers to use displays, RFID tags, and smart labels within the packaging, and to include small batteries as power sources. The European Commission has extended its support to technologies such as cloud computing in the Internet of Things (IoT) and wireless applications that require thin and flexible power supplies. These requirements are expected to increase demand for solid-state batteries in Europe.
key attributes
report attributes |
detail |
number of pages |
202 |
Forecast period |
2023-2030 |
Estimated market value in 2023 (USD) |
$85 million |
Projected market value to 2030 (USD) |
$963 million |
compound annual growth rate |
41.5% |
Target area |
global |
Market trend
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driver
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Increase in research and development (R&D) by solid-state battery manufacturers
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Growing demand for electric vehicles
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Advantages of solid-state batteries compared to conventional batteries
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restraints
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opportunity
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Increased R&D investment and partnerships between solid-state battery manufacturers and automotive companies
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Growing demand for small batteries in the home appliance industry
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Advances in medical devices equipped with solid-state batteries
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assignment
price analysis
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Average selling price (ASP) trends for lithium-ion batteries
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Average selling price (ASP) trends for all-solid-state batteries
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Average selling price (ASP) trends by region
technical analysis
case study analysis
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Ilika partners with Connect 2 Connect Ltd. (C2C) to develop all-solid-state battery manufacturing clean room
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IAAPS Ltd. Analyzing the commercialization potential of solid-state batteries for automotive applications
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Georgia Tech research team develops ceramic electrolyte to reduce battery costs
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Samsung Electronics tests use of silver-carbon composite material to address dendrite formation in solid-state batteries
Introduced companies
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amp cera
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blue solutions
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bright bolt
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Excellatron
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Factorial Co., Ltd.
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Ganmine Lithium Group Co., Ltd.
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Hitachi Zosen Corporation
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Irika
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Ionic Materials Co., Ltd.
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LG Energy Solutions
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lion bolt
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Nitera Co., Ltd.
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Prieto Battery Co., Ltd.
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Prolodium Technology Co., Ltd.
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Qingdao (Kunshan) Energy Development Co., Ltd.
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quantum scape
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Saku Co., Ltd.
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Samsung SDI Co., Ltd.
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SK Innovation Co., Ltd.
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reliable power
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store dot
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Toyota Motor Corporation
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