Solid State Battery Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Solid State Battery Market in 2025 is evaluated at USD 3.08 billion. The global market size surpassed USD 2.4 billion in 2024 and is projected to witness a CAGR of over 35.3%, crossing USD 122.2 billion revenue by 2037. North America is anticipated to attain USD 41.55 billion by 2037, supported by demand for wearable tech and growing disposable incomes.
The market growth can be attributed to rising focus on clean energy and higher integration of electric vehicles pushed by governments all across the globe. Governments all over the globe are enacting laws and regulations to cut carbon emissions and encourage the use of renewable energy sources. Moreover, rising demand for renewable energy storage is anticipated to boost the industry growth. These batteries have the capacity to store excess energy generated during times of high production and release it during emergencies.
Solid State Battery Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Demand for Wireless Communications – All-solid-state batteries are expected to power wireless sensors in IoT devices. A long service life of up to 10 years makes it even more practical.
- Growing Need for Emergency Backup Power – Solid-state batteries are often used in inverters to provide power in emergencies.
- Increased Smart Infrastructure Development - Increased smart city development is likely to increase power demand for connected infrastructure. By 2030, it is predicted that there will be 43 large cities with over 10 million people in the world, most of them in developing countries.
- Increased Use of Portable Devices – Solid-state slate batteries enable smaller and higher-capacity portable devices such as wearables, IoT-connected devices, mini gadgets, and others.
- Increased EV sales – The battery technology is estimated to have twice the energy density of existing lithium-ion batteries used to power EVs. Solid-state batteries could be an important development for electric vehicles (EVs), as it holds more energy, charge faster, and provide greater safety than liquid lithium-ion batteries. According to statistical data, nearly 2 billion electric vehicles will need to be deployed for the world to reach net zero emissions by 2050, with EV sales totaling 6.6 million in 2021.
Challenges
- High Manufacturing Cost - Solid-state batteries are still in the process of development, and the process of production is much more complicated a. expensive than traditional lithium-ion batteries. This high cost of manufacturing makes them less cost-competitive in the market.
- Not fully scalable
- Strict manufacturing and transportation regulations
Solid State Battery Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
35.3% |
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Base Year Market Size (2024) |
USD 2.4 billion |
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Forecast Year Market Size (2037) |
USD 122.2 billion |
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Regional Scope |
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Solid State Battery Segmentation
Application (Consumer Electronics, Wearable Devices, Electric Vehicles, Medical Devices, Packaging, Wireless Sensors)
The consumer electronics segment in the solid state battery market is estimated to reach the largest revenue share of around 40% by the end of 2037. The segment growth can be ascribed to increase in electronics manufacturing. Solid-state batteries are used in smartphones, laptops, and electrical components. They are safe, reliable, and offer high performance. Higher purchase of consumer electronics by people and escalating urbanization all across the globe is also driving the demand for this segment. Moreover, growing concerns over safety issues related to liquid electrolytes in batteries have increased the demand for all-solid-state batteries for consumer electronics applications.
Category (Single-Cell Battery, Multi-Cell Battery)
The multi-cell battery segment is predicted to hold 60% share of the global solid state battery market by 2037. Multi-cell batteries have a much longer lifespan than single-cell batteries and are a major growth driver in this sector. These batteries are equipped with a more efficient thermal management system that prevents overheating and extends life.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Capacity |
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Category |
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Application |
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Customize this ReportSolid State Battery Industry- Regional Scope
North America Market Forecasts
The solid state battery market share in North America is expected to exceed 34% by the end of 2037. The growth can be attributed to rising demand for wearable devices in the region, followed by the surging disposable income of the population.
Europe Market Forecast
Europe region's solid state battery market is expected to reach 30% share by 2037. This is due to the increasing focus on reducing CO2 emissions and accelerating the transition to electric vehicles. The European Union has set a goal of becoming climate neutral by 2050. This has led to increased investment in energy storage technologies such as renewable energy, and all-solid-state batteries.
Companies dominating the Global Solid State Battery Landscape
- Bodycote Plc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- QuantumScape Corporation
- Solvay S.A.
- Cymbet Corporation
- Pathoin Inc.
- Robert Bosch GmbH
- Saft Groupe SAS
- Excellatron Solid-state
- BrightVolt Solid State Batteries
- Solid Power Inc.
In the News
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QuantumScape Corporation announced the agreement with Volkswagen Group of America, Inc. to locate their Joint-venture solid state battery pilot-line plant by the end of 2021. The corporations are now considering the location of Salzgitter, Germany. They also intend to expand the production of 1 gigawatt-hour (GWh).
- Solid Power came in partnership and signed an agreement and memorandum with 5K Innovation to Invest USD 30 million into Solid Power for developing energy density of at least 930WH/L.
Author Credits: Saima Khursheed
- Report ID: 1966
- Published Date: Apr 23, 2025
- Report Format: PDF, PPT
