The global solid state battery market size reached approximately USD 596.50 million in 2023. The market is projected to grow at a CAGR of 33.6% between 2024 and 2032, reaching a value of around USD 3,331.09 million by 2032.
Solid-state batteries are advanced battery technologies that use solid electrolytes instead of liquid or gel electrolytes found in traditional lithium-ion batteries. The defining characteristic of solid-state batteries is the use of solid electrolytes. In conventional lithium-ion batteries, the electrolyte is a liquid or gel that allows ions to move between the cathode and anode.
Based on battery type, the market can be bifurcated into a portable and thin film. The global solid state battery market segmentation, based on capacity, includes below 20mAh, 20mAh to 500mAh, and above 500mAh. Based on application, the market is divided into consumer and portable electronics, electric vehicles, energy harvesting, and wearable and medical devices, among others. The major regional markets for solid-state batteries are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global solid state battery market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
According to the global solid state battery market analysis, above 500 mAh solid state batteries are expected to witness significant growth during the forecast period. This can be primarily attributed to the heightened utilisation of these batteries in the electric vehicle sector. Additionally, an increasing need for battery energy storage systems in commercial and industrial settings is anticipated to contribute to the continued expansion of this segment in upcoming years.
Europe is likely to account for a substantial portion of the global solid state battery market share, a position it is expected to maintain in the foreseeable future. This growth is influenced by the rigorous enforcement of beneficial regulatory policies to promote the adoption of battery energy storage systems and electric vehicles throughout the region. Furthermore, financial support from the European Commission towards research and development initiatives focused on batteries is anticipated to provide an additional boost to the market's expansion in the region in the coming years.
Toyota Motor Corporation is a multinational automotive manufacturing company, based in Japan. Founded in 1937, Toyota is one of the largest automotive manufacturers in the world. Toyota produces a wide range of vehicles, including passenger cars, trucks, and SUVs. The company is known for producing reliable and fuel-efficient vehicles.
STMicroelectronics International N.V. is a global semiconductor company headquartered in Geneva, Switzerland. It is one of the largest independent semiconductor manufacturers in the world. The company was formed in 1987 through a merger of two prominent semiconductor companies, SGS Microelettronica (Italy) and Thomson Semiconductors (France). It has its roots in the semiconductor divisions of two older electronics companies, SGS and Thomson.
Ilika Plc is one of the major companies engaged in solid-state battery manufacturing for various applications including industrial IoT, MedTech, and electronics. The company develops batteries through two product lines, including Stereax and Goliath.
Other global solid state battery market players are Ganfeng LiEnergy technology Co., Ltd. Samsung SDI Co., Ltd, StoreDot Ltd., Solvay S.A., Saft Groupe SAS, Solid Power, Inc., and Factorial Inc., among others.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Battery Type||
|Breakup by Capacity||
|Breakup by Application||
|Breakup by Region||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Solid State Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Solid State Battery Market (2022-2028)
8.3 Global Solid State Battery Market by Battery Type (2022-2028)
8.3.2 Thin Film
8.4 Global Solid State Battery Market by Capacity (2022-2028)
8.4.1 Below 20mAh
8.4.2 20mAh to 500mAh
8.4.3 Above 500mAh
8.5 Global Solid State Battery Market by Application (2022-2028)
8.5.1 Consumer and Portable Electronics
8.5.2 Electric Vehicles
8.5.3 Energy Harvesting
8.5.4 Wearable and Medical Devices
8.6 Global Solid State Battery Market by Region (2022-2028)
8.6.1 North America
8.6.3 Asia Pacific
8.6.4 Latin America
8.6.5 Middle East and Africa
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Toyota Motor Corporation
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 STMicroelectronics International N.V.
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 Ganfeng LiEnergy technology Co., Ltd.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.4 Ilika Plc
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.5 Samsung SDI Co., Ltd
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.6 StoreDot Ltd.
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.7 Solvay S.A.
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.8 Saft Groupe SAS
10.2.8.1 Company Overview
10.2.8.2 Product Portfolio
10.2.8.3 Demographic Reach and Achievements
10.2.9 Solid Power, Inc.
10.2.9.1 Company Overview
10.2.9.2 Product Portfolio
10.2.9.3 Demographic Reach and Achievements
10.2.10 Factorial Inc.
10.2.10.1 Company Overview
10.2.10.2 Product Portfolio
10.2.10.3 Demographic Reach and Achievements
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Solid State Battery Market: Key Industry Highlights, 2022 and 2028
2. Global Solid State Battery Market: Breakup by Battery Type (USD Million), 2022-2028
3. Global Solid State Battery Market: Breakup by Capacity (USD Million), 2022-2028
4. Global Solid State Battery Market: Breakup by Application (USD Million), 2022-2028
5. Global Solid State Battery Market: Breakup by Region (USD Million), 2022-2028
6. Global Solid State Battery Market Structure
In 2023, the market reached an approximate value of USD 596.50 million.
The market is projected to grow at a CAGR of 33.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 3,331.09 million by 2032.
The market is driven by the increasing utilisation of solid-state batteries in electric vehicles and the increasing research and development in the material science of solid-state batteries.
The growing implementation of government policies to reduce carbon emissions and increasing demand for electric vehicles are expected to guide market growth in the forecast period.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different applications are consumer and portable electronics, electric vehicles, energy harvesting, and wearable and medical devices, among others.
The key players in the market include Toyota Motor Corporation, STMicroelectronics International N.V., Ganfeng LiEnergy technology Co., Ltd., Ilika Plc, Samsung SDI Co., Ltd, StoreDot Ltd., Solvay S.A., Saft Groupe SAS, Solid Power, Inc., and Factorial Inc., among others.
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.