"As electric vehicle adoption surges globally,
manufacturers and users grapple with safety, range, and charging
limitations. Solid-state batteries (SSBs) emerge as a solution,
offering enhanced safety, extended driving ranges, and rapid
charging capabilities."
BOSTON, June 19,
2024 /PRNewswire/ -- "According to the latest BCC
Research study, the demand for The global market for solid-state
batteries is estimated to increase from $274.0 million in 2023 to reach $1.7 billion by 2029, at a compound annual growth
rate (CAGR) of 36.7% from 2024 through 2029."
The report analyzes the global solid-state battery (SSB) market,
focusing on the products, strategies, and initiatives of leading
companies. Using 2023 as the base year, it provides market
estimates for 2024 and forecasts through 2029, with a focus on
battery electric vehicles (BEVs). The market is segmented by type
(bulk, thin film), cell type (single-cell, multi-cell),
rechargeability (primary, secondary), capacity (below 20 mAh,
20-500 mAh, above 500 mAh), end-use industry (EVs, industrial,
medical, consumer electronics, others), and region (North America, Europe, Asia-Pacific, rest of the world). Revenue
projections are in constant U.S. dollars, unadjusted for
inflation.
The global solid-state battery market is driven by the
following factors:
Demand for Higher Battery Energy Densities: As electronic
gadgets become more sophisticated and energy-hungry, there is a
growing need for batteries with higher energy densities.
Solid-state batteries hold the promise of significantly increased
energy storage capacity compared to traditional lithium-ion
batteries. This rising demand is driven by applications such as
smartphones, laptops, wearables, and electric vehicles (EVs), where
longer battery life and smaller form factors are crucial.
SSBs Safer than Lithium-Ion Batteries: Safety concerns
associated with lithium-ion batteries have led to increased
interest in solid-state alternatives. Solid-state batteries use
solid electrolytes instead of the flammable liquid electrolytes
found in lithium-ion batteries. The absence of flammable components
reduces the risk of fire or explosion, making solid-state batteries
a safer option for consumer electronics, EVs, and medical
devices.
Improved Medical Device Performance and Safety: Medical
devices, including implantable devices like pacemakers and insulin
pumps, rely on batteries for power. Solid-state batteries offer
advantages such as longer lifespan, stable performance, and
improved safety. Their non-flammable nature and resistance to
leakage make them ideal for medical applications, ensuring reliable
operation and patient safety.
Request a Sample Copy of The global market for
solid-state batteries Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2023
|
Forecast Period
considered
|
2024-2029
|
Base year market
size
|
$274.0
Million
|
Market Size
Forecast
|
$1.7 Billion
|
Growth rate
|
CAGR of 36.7% for the
forecast period of 2024-2029
|
Segment
Covered
|
Type, Cell Type,
Rechargeability, Capacity, End User
|
Regions
covered
|
North America, Europe,
Asia-Pacific, Rest of the World (RoW)
|
Countries
covered
|
U.S., Canada, U.K.,
Germany, France, Italy, Norway, Sweden, Spain, Poland, China,
India, Japan, South Korea, Australia, New Zealand, Singapore,
Thailand, South America, Argentina, Brazil, The Middle East and
Africa, UAE, Saudi Arabia, Egypt, South Africa
|
Key Market
Drivers
|
- Demand for Higher
Battery Energy Densities
- SSBs Safer than
Lithium-Ion Batteries
- Improved Medical
Device Performance and Safety
|
Key Interesting Facts About The global market for solid-state
batteries:
- According to the International Energy Agency, electric car
sales increased by 40% in 2023 compared to the previous year.
- Battery electric vehicles (BEVs) accounted for nearly 70% of
overall electric car sales in 2023.
- The U.S. government aims to have 50% of all new vehicle
registrations be electric vehicles by 2030.
- Blue Solutions, a French solid-state battery (SSB)
manufacturer, projects that SSBs will achieve approximately 15%
market penetration in the global EV battery market by 2035.
The global market for solid-state batteries worldwide the
report includes in-depth data and analysis addressing the following
important queries:
- What is the market's projected market size and growth rate?
The projected market size in 2029 is $1.7
billion, and the market's CAGR is 36.7% during the forecast
period.
- What are the key factors driving the growth of the
market?
- Increasing demand for enhancing the energy density of EV
batteries.
- Enhanced safety compared to Li-ion batteries.
- Emerging use cases on medical device applications for improved
safety and performance.
- What segments are covered in the market?
- By Battery Type
- By Cell Type
- By Rechargeability
- By Capacity
- By End Use
- By cell type, which segment will dominate the market by the end
of 2029?
The multi-cell battery segment will dominate the market by
2029.
- Which region has the highest market share in the market?
The Asia-Pacific region holds
the largest share of the global market.
Some of the Key Market Players Are:
- AMPCERA
- BLUESOLUTIONS
- HITACHI ZOSEN CORP.
- ILIKA
- PROLOGIUM TECHNOLOGY CO. LTD.
- QUANTUMSCAPE CORP.
- SAMSUNG SDI CO. LTD.
- SK ON CO. LTD.
- SOLID POWER INC.
- TOYOTA MOTOR CORP.
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Russia-Ukraine war, along with Porter's five forces
analysis, use cases, and regulatory factors. The report is
user-friendly, featuring tables, charts, and detailed studies of
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vehicle type, and more. It includes current and projected market
sizes, CAGR, and profiles of key players with their strategies.
Additionally, it provides a competitive landscape of leading
providers as of 2022.
Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
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