Global Solid State Battery Market – Industry Trends and Forecast to 2030

Global Solid State Battery Market, By Type (Thin-Film Batteries, Portable Batteries, and Other), Category (Single-cell Battery and Multi-cell Battery), Capacity (Less Than 20 mAh, Between 20 mAh -500 mAh, and Above500 mAh), Rechargeability (Primary Battery and Secondary Battery), Application (Consumer Electronics, Electric Vehicle, Energy Harvesting, Entertainment, Medical Devices, Packaging, Portable Devices, Smart Cards, Wearable Devices, Wireless Communication, and Others) - Industry Trends and Forecast to 2030.

Solid State Battery Market Analysis and Size

The rising research and development activities associated to solid state batteries, the increasingdeployment of IOT to promote the adoption of solid state batteries, and high adoption of solid state batteries in electric vehicles, miniaturization of electronic devices will emerge as the major factor driving market growth. Furthermore, increasing application scope of solid state batteries in the healthcare, Electric Vehicle and drone sectors, incorporation of flexible and lightweight batteries in wearable devices along with its extended shelf life of solid state batteries as compared to conventional batteries will further aggravate the market value. However, the high cost of solid state batteries and complex manufacturing process of solid state batteries act as a restraint for the market.

In addition to this, the rise in investments and partnerships amongst automobile companies and solid state battery manufacturers along with the high demand for electric vehicles are estimated to create new opportunities for growing the market within the forecast period. The manufacturing cost-efficient solid state battery result as a challenge for the market.

Global solid state battery market was valued at USD 1.25 billion in 2022 and is expected to reach USD 5.10 billion by 2030, registering a CAGR of 34.3% during the forecast period of 2023-2030. Thin-Film Batteries dominate the typesegment for solid state battery market due to their advantages such as flexibility, thin form factor, and potential for integration into various devices and applications. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Solid State Battery Market Scope and Segmentation

Market Definition

A solid-state battery is basically a battery technology that generally utilizes solid electrodes and a solid electrolyte, instead of the liquid or polymer gel electrolytes found in lithium-ion or lithium polymer batteries. These batteries are also categorized into their capacity, such as 20 mAh, between 20 mAh and 500 mAh, and above 500 mAh.

Global Solid State Battery Market Dynamics

Drivers

• Increasing demand for high-energy density batteries

The global solid state battery market is driven by the growing need for high-energy density batteries in various industries such as consumer electronics, automotive, and renewable energy. Silicon anode batteries offer higher energy storage capacity than traditional lithium-ion batteries, making them suitable for applications requiring long-lasting power.

• Government initiatives and regulations promoting clean energy

The push towards clean energy and the adoption of electric vehicles is driving the demand for silicon anode batteries. Governments worldwide are implementing policies and regulations to reduce carbon emissions and promote the use of sustainable energy sources, creating a favorable environment for the growth of the solid state battery market.

• Increase in the demand for miniaturized consumer devices

The solid state battery market is being driven by industrial automation and the desire for smaller consumer gadgets, such as wearables and IoT-connected devices, among other things, across geographies.

Opportunity

• Automotive Sector Technological Advancements and Innovation

The automotive industry is a key driver of the solid-state battery market. Solid-state batteries offer the potential for electric vehicles (EVs) with longer range, shorter charging times, and improved safety. As governments around the world are encouraging the adoption of electric vehicles, there is a growing demand for solid-state batteries to power the next generation of EVs. Companies that can provide reliable and high-performance solid-state battery solutions to automakers have significant growth potential..

Restraint/Challenge

• High Manufacturing Costs

Solid-state batteries involve complex manufacturing processes and the use of expensive materials. Currently, the cost of producing solid-state batteries is considerably higher compared to conventional lithium-ion batteries. This cost disparity poses a significant challenge for widespread adoption, particularly in price-sensitive markets such as consumer electronics and automotive sectors. Manufacturers need to find ways to optimize production processes, scale up manufacturing, and explore cost-effective materials to overcome this restraint.

This global solid state battery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the solid state battery market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In march 2023, Panasonic Corporation announced the successful development of a high-capacity solid state battery, marking a significant advancement in battery technology. The new solid state battery offers a higher energy storage capacity than traditional graphite anode batteries, enabling longer battery life and enhanced performance
• In June 2023, LG Chem. has unveiled its latest innovation in battery technology with the development of a high-performance solid state battery. The new battery utilizes a silicon-based anode material, which significantly increases the energy density and overall capacity compared to conventional lithium-ion batteries. With this breakthrough, LG Chem. aims to address the growing demand for longer-lasting and more powerful batteries in various industries, including electric vehicles and portable electronic devices

Global Solid State Battery Market Scope

The global solid state battery market is segmented on the basis of type, category capacity, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Thin-Film Batteries
• Portable Batteries
• Other

Category

• Single-cell Battery
• Multi-cell Battery

Capacity

• Less than 1500 mAh
• 1500 mAh to 2500mAh
• Above 2500 mAh

Application

• Consumer Electronics
• Automobile
• Medical Devices
•  Industrial
• Energy Harvesting
• Electric Vehicle
• Entertainment
• Packaging
• Portable Devices
• Smart Cards
•  Wearable Devices
• Wireless Communication
• Others

Global solid state battery market Regional Analysis/Insights

The solid state battery market is analyzed and market size insights and trends are provided by country, type, category, capacity, and application, as referenced above.     

The countries covered in the Solid state battery market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

North America region dominates the solid state battery market due to the growing demand for batteries from various applications such as smart cards, packaging and electric vehicle sectors in the region and high adoption of solid state batteries in the region. Europe region, on the other hand, is projected to undergo substantial growth during the forecast period owing to the high investment from various manufacturing companies in the region.  

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Semiconductor Infrastructure growth Installed base and New Technology Penetration

The global solid state battery market also provides you with a detailed market analysis for every country’s growth in expenditure for capital equipment, installed base of different kinds of products for global solid state battery market, the impact of technology using lifeline curves, and changes in regulatory scenarios and their impact on the solid state battery market. The data is available for the historic period 2015-2020.

Competitive Landscape and Global Solid State Battery Market Share Analysis

The global solid state battery market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to global solid state battery market.

Some of the major players operating in the global solid state battery market are:

• Panasonic Corporation (Japan)
• SAMSUNG SDI CO., LTD. (South Korea)
• LG Chem. (South Korea)
• NEXEON LTD. (United Kingdom)
• Los Angeles Cleantech Incubator (U.S.)
• Enevate Corporation (U.S.)
• Zeptor Corporation (U.S.)
• CONNEXX SYSTEMS Corp. (Japan)
• XGSciences (U.S.)
• California Lithium Battery (U.S.)
• City of Irvine (U.S.)
• Amprius Technologies (U.S.)
• Solid Energy A/S (Denmark)
• ActaCell, Inc. (U.S.)
• OneD Material, Inc. (U.S.)
• Hitachi Chemical Co., Ltd. (Japan)
• Huawei Technologies Co., Ltd. (China)