Menu ×

AUTOMOTIVE & TRANSPORTATION

Solid State Batteries Market Segmentation By Type (Thin Film and Portable Battery); By Capacity (<20mAh, Between 20mAh and 500mAh and >500mAh); and By Application (consumer and Portable Electronics, Vehicles, Energy Harvesting, Wearable Devices, Medical Devices and Others) – Global Demand Analysis & Opportunity Outlook 2027

  • Text Size:

Extensive insights into the Growth of Solid State Batteries Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More
IN THE NEWS
  • September 2019: Ilika has announced the opening of its new large format battery production facility in Hampshire, UK for the production of solid state batteries.

  • August 2019: The U.S. Department of Energy has awarded funds of $2 million to General Motors for research and development of solid state batteries.

  • June 2018: Volkswagen has announced a joint venture with QuantumScape for the commercialization of solid state battery technology. It has also announced to invest 100mn USD in the firm.

Introduction To Solid State Batteries

Solid state battery is a type of battery technology that uses electrodes and electrolyte which are solid in nature. It prevents the utilization of liquid or polymer gel electrolytes found in lithium-ion or lithium polymer batteries. Advanced ceramics, for instance oxides, sulfides and phosphates among others, coupled with solid polymers are proposed for utilization as solid electrolytes in the solid state batteries.

Solid state batteries have found massive usage in pacemakers, RFID and wearable devices primarily owing to their potentiality, safety for use and higher energy densities. Solid state batteries are usually nonflammable and is believed to allow faster recharge technologies.

Market Size and Forecast

The market of solid state batteries is observing vibrant growth on account of increasing application in healthcare, wearable devices and drones. Furthermore, technological advances in electric and hybrid vehicles and the demand for longer durability of batteries in the vehicles are some of the notable factors that are expected to boost the growth of the solid state batteries market.

The market is anticipated to record a CAGR of 45.0% throughout the forecast period, i.e. 2019-2027. The solid state batteries market is segmented by application into consumer and portable electronics, vehicles, energy harvesting, wearable devices, medical devices and others, out of which, the vehicles segment is anticipated to hold largest market share on account of growing demand for electric vehicles and hybrid vehicles. According to the European Commission, 262 million cars were registered in the European Union (EU) Member States during the year 2017, of which 2 million cars were classified as either electric cars or hybrid cars. DOWNLOAD SAMPLE REPORT HERE

Solid State Batteries Market

Solid State Batteries Market

Growth Drivers

Demand For Efficient Batteries

Growing concerns for environmental spillage from waste batteries along with safety concerns of these traditional batteries are raising the demand for efficient batteries amongst enterprises. Furthermore, stringent norms by the government for reducing key waste streams, such as the Batteries Directive 2006/66/EC by the European Union legislation and the targets for collection and recycling of the batteries is estimated to drive the demand for solid state batteries.

The advantage of utilizing solid state batteries include the absence of electrolyte leakage or vaporization owing to the solid state form of battery. Moreover, these batteries have long life cycle, utilize electrode materials with higher energy densities and fewer safety issues owing to the elimination of flammable organic solvents.

Growing Demand For Alternative Energy Vehicles

Growing concerns for global greenhouse gases (GHG) emissions and stringent norms by the governments of various economies for vehicle pollution are raising the demand amongst OEMs to opt for alternative energy vehicles, such as electric vehicles or hybrid vehicles. Electric vehicles are powered by electric vehicle battery, whereas hybrid vehicles utilize a combination of traditional fuel and electric batteries to run the vehicle. These vehicles powered by alternative sources of energy are promoting the demand for solid state batteries and also decrease in environmental pollution.

Additionally, governments of various economies are also promoting the deployment of electric commercial vehicles for greater utilization of public transport services, as well as to reduce environmental pollution generated by traditional commercial vehicles.

Growing Demand for Consumer Electronics Goods

Allowance of 100% foreign direct investment (FDI) for manufacturing of consumer electronics goods in many economies is raising the demand amongst OEMs to invest on the deployment of manufacturing facilities for the production of wide variety of consumer durables. The increasing production of consumer goods amongst the OEMs is anticipated to raise the demand for solid state batteries during the forecast period. Moreover, rising disposable income amongst the population around the globe is anticipated to raise the demand for consumer electronics goods amongst the consumers, which is also expected to raise the demand for increasing production of consumer goods, thereby raising the demand for solid state batteries. All of these factors are anticipated to support the growth of the solid state batteries market throughout the forecast period.

Restraints

High Manufacturing Costs

The electrolytes and electrode used in solid state batteries are made up of polymers which are highly priced. Furthermore, the whole production process of the solid state batteries is a costly affair for the enterprises, which is anticipated to hinder the growth of the solid state batteries market during the forecast period.

Market Segmentation

Our in-depth analysis of the solid state batteries market includes the following segments:

By Type

  • Thin Film Battery
  • Portable Battery

By Capacity

  • <20mAh
  • Between 20mAh and 500mAh
  • >500mAh

By Application

  • Consumer and Portable Electronics
  • Vehicles
  • Energy Harvesting
  • Wearable Devices
  • Medical Devices
  • Others

By Region

On the basis of regional analysis, the solid state batteries market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America is expected to have largest market share on the back of increasing demand of batteries for packaging, smart cards and in the use of vehicles powered by electric or hybrid technologies. Furthermore, paradigm shift towards deployment of sustainable energy technologies is anticipated to fuel the growth of the market in the region.

Additionally, Europe is expected to gain significant market share on the back of growing research and developments for technical advancements in battery technology and development of renewable energy sources. The region is also favored by regulatory policies pertaining to the development of industrial sector, coupled with ongoing adoption of electric vehicles across the nations, all of these factors are anticipated to fuel the growth of the market in the region.

The solid state battery market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

Top Featured Companies Dominating the Market

  • Cymbet
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • STMicroelectronics
  • BrightVolt
  • Excellatron
  • Planar Energy
  • QuantumScape Corporation
  • Solid Power
  • Ilika
  • Prieto Battery Inc.
  • Front Edge Technology, Inc.

 


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2020 Research Nester. All Rights Reserved