USD 58 billion
Solid-state Battery Market Size, Share, Growth Analysis, By Product(tablets, laptops, and smartphones and Others), By end user(gaming consoles, laptops, media players and others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20D2082 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
63
|Figures:
78
Solid-state Battery Market Insights
Solid-state Battery Market size was valued at USD 76.85 Billion in 2023 and is poised to grow from USD 101.83 Billion in 2024 to USD 967.36 Billion by 2032, growing at a CAGR of 32.50% during the forecast period (2025-2032).
The adoption of solid state batteries in portable devices is expected to grow at a significant rate owing to low maintenance and higher energy densities offered by them. High demand for consumer electronics is expected to propel the segment's growth. The market is driven by the rising deployment of Electric Vehicles (EVs), increasing utility of battery energy storage systems, and the growing adoption of electronic gadgets. Solid-state batteries offer higher electrochemical stability, higher energy density, and low flammability as compared to conventional batteries.
The medical devices and wearable electronic devices segment accounted for a significant market share and is anticipated to witness prominent growth over the forecast period. Rising demand for small energy storage sources and wearable electronics is projected to favour the segment growth. Moreover, innovations in medical technology are likely to maximize the penetration rate of wearable batteries.
The device which is connected with internet and communication enabled, requiring the need for more mobile power. Implants are being developed that have miniature batteries for powering the devices. Solid state batteries are suitable as they do not pose any risk of leakage and are small enough to be used in implantable devices. Customization for specific capacity and design is possible along with longer shelf life. This will surge the growth of the solid-state battery market in the forthcoming years. A safe solid electrolyte is used and the thin stainless steel substrate enhances the Volumetric Energy Density. The mechanical strength is high with efficient conductance and moisture barrier capacity. These batteries are way more reliable and robust than their lithium-ion coin cell counterparts.
US Solid-state Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Tablets
Fastest Growth
Tablets
Growth Rate
32.50% CAGR
Global Solid-State Battery Market, 2021-2030 ($ Bn)
Country Share for Asia Pacic Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Solid-state Battery Market Segmental Analysis
Global Solid-state Battery Market is segmented on the basis of product type, end user, and region. By Product, the market is sub-segmented into tablets, laptops, and smartphones and Others. By End user, the Solid-state Battery Market is categorized into gaming consoles, laptops, media players and others. By region, the Solid-state Battery Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Solid-state Battery Market Analysis by Product Type
By product type, the portable segment will dominate the solid-state battery market share due to the increasing adoption of solid-state rechargeable batteries in portable devices, and the continuous demand for tablets, laptops, and smartphones will also boost the growth. This trend is anticipated to stimulate segment growth over the forecast period.
Solid-state Battery Market Analysis by End User
By Application, Consumer & portable electronics segment occupied the largest market share of over 33.6% in 2021 owing to the high demand for portable electronic devices in various end-use segments. Rapid urbanization along with rising discretionary expenditures are expected to result in higher purchasing of electronic devices including smartphones, laptops, media players, gaming consoles, and others.
Global Solid-State Battery Market, 2021-2030 ($ Bn)
To get detailed analysis on other segments, Request For Free Sample Report
Solid-state Battery Market Regional Insights
Globally, Asia Pacific emerged as the largest market, accounting for a 53.7% share of the global solid state battery market. The significant growth of the automotive industry in China, India, Japan, and South Korea is expected to promote the demand for solid state batteries. Furthermore, increasing population in China and India coupled with favourable government regulations aimed at lowering carbon emissions from vehicles and promoting the use of electric vehicles are expected to enhance the product demand in the region over the forecast period.
Europe occupied the second-largest market share and is anticipated to retain its market position over the forecast period. The growth can be attributed to the strict implementation of favourable regulatory policies regarding the deployment of battery energy storage systems and electric vehicles across the region. In addition, the European Commission funding aimed at battery-specific R&D projects is expected to further boost the regional market growth.
North America, led by the U.S., Mexico, and Canada, accounted for nearly 20.69% of the global solid-state battery market share. The presence of prominent battery manufacturers and growing demand for end-use industries are the primary driving factors for the North America solid-state battery market.
Global Solid-State Battery Market, 2021-2030 ($ Bn)t By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Solid-state Battery Market Dynamics
Solid-state Battery Market Drivers
Rise in R&D Investment to Bolster Market Growth
- The increasing R&D initiatives related to solid-state batteries, miniaturization of electronic devices, and longer shelf life offered by the batteries will drive the growth of the market. The rising investments for use in medical wearable devices and EVs will fuel the market's growth in the coming years.
Solid-state Battery Market Restraints
Available Substitutes to Hinder Market Growth
- Graphene batteries, fluoride batteries, sand batteries, ammonia-powered batteries, and lithium-sulfur batteries can all be used as solid state battery replacements. Up to eight times longer than solid state batteries can be achieved by using fluoride batteries. Lithium-ion batteries are a new type of battery that use silicon rather than graphite to provide three times the performance of conventional graphite-based li-ion batteries. The anodes are still silicon rather than graphite, but the battery is still lithium-ion like those used in smartphones. Over the projected period, the market for solid state batteries will see growth restrictions due to all of these batteries.
Request Free Customization of this report to help us to meet your business objectives.
Solid-state Battery Market Competitive Landscape
The Global Solid-state Battery Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Solid-state Battery Market Top Players Company Profiles
- Samsung SDI Co. Ltd.
- Robert Bosch GmbH
- Toyota Motor Corporation
- Hitachi Zosen Corporation
- BMW AG
- Honda Motor Co. Ltd.
- LG Chem Ltd.
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Cymbet Corporation
- Planar Energy Devices, Inc.
- Infinite Power Solutions, Inc.
- STMicroelectronics N.V.
- Solid Power, Inc.
- CEA-Liten
- ProLogium Technology Co., Ltd.
- Excellatron Solid State, LLC
- Front Edge Technology, Inc.
- Prieto Battery, Inc.
- Seeo, Inc.
Solid-state Battery Market Recent Developments
-
An agreement was reached in July 2023 between ProLogium Technology Co., Ltd. and MAHLE GmbH to create the first thermal management system for ProLogium's next-generation solid-state batteries. The commercialization of solid-state battery solutions with increased longevity, safety, and energy density will be aided by this agreement.
-
LG Chem. presented its most recent advancement in battery technology in June 2023 with the creation of a solid state battery with exceptional performance. When compared to traditional lithium-ion batteries, the new battery's energy density and total capacity are greatly increased due to the use of a silicon-based anode material. With this discovery, LG Chem hopes to meet the expanding need across a range of industries for more robust and long-lasting batteries, particularly for electric cars and portable electronics.
-
Sakuu Company unveiled Li-Metal Cypress Battery Cell Chemistry for production license in May 2023. Furthermore, with an emphasis on safety, this Li-Metal chemistry can provide high-power density and high energy density.
Solid-state Battery Key Market Trends
- Due to the growing adoption of clean energy-powered vehicles across key economies worldwide, the market for electric vehicles is predicted to gain the top spot in terms of revenue share. The adoption of electric vehicles is predicted to increase as a result of technology advancements in batteries and the availability of favourable regulatory frameworks.
Solid-state Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Solid-state Battery Market analysis, the rising demand for electric vehicles, as well as higher investments and partnerships between automobile companies and battery manufacturers, are offering ample opportunities for the solid state battery market to flourish. The fact is that there are numerous major drivers and there are few restraints that could stifle the solid state battery market’s expansion. The high cost of solid state batteries and the difficult manufacturing process may limit the growth of the global solid state battery market share during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2031 | USD 58 billion |
| Growth Rate | 32.50% |
| Forecast period | 2024-2031 |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Solid-state Battery Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Solid-state Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Solid-state Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Solid-state Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Solid-state Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Solid-state Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Solid-state Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
