Global Solid State Battery Market Size, Forecast and Trend Highlights Over 2025-2037
Solid State Battery Market size was valued at USD 2.4 billion in 2024 and is expected to secure a valuation of USD 122.2 billion in 2037, expanding at a CAGR of 35.3% during the forecast period, i.e., 2025-2037. In 2025, the industry size of solid state batteries is evaluated at USD 3 billion.
The continually rising demand for electric vehicles is contributing to the high trade of solid state batteries. In solid state batteries, the energy density remains high, along with fast charging times and improved safety features as compared to standard lithium-ion batteries, which is making them suitable for use in EVs. The automotive industry is increasingly investing in solid state battery advancements, aimed at elevating performance standards and satisfying demand from consumers. For instance, in April 2024, Nissan announced plans for early-stage manufacturing of electric vehicles with next-generation solid state batteries, with pilot production operations that were commenced in March 2025. Such strategic developments are creating lucrative avenues for market players’ revenue growth.
Various companies in solid state battery development are advancing their research from labs to near-term commercialization. In January 2024, Toyota Motor Corporation announced its plans to introduce electric vehicles with solid state batteries in the next few years to meet its objectives of advancing global EV adoption. The strategies of leading automotive companies indicate their rising trust in solid state battery technologies. The deployment transition of R&D research combines innovative breakthroughs that are redefining energy storage solutions and mobile systems for applications.
Solid State Battery Market: Growth Drivers and Challenges
Growth Drivers
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Advancements in solid state batteries: Advancements in solid state battery technologies enable major enhancements in manufacturing methods, fueling large-scale production ability and reduced costs. Companies are focusing on full-scale manufacturing strategies to address rising market requirements. For instance, in January 2024, ProLogium established its first giga-scale solid state battery manufacturing facility in Taoyuan, Taiwan. The production capacity of this plant is expected to produce 26,000 electric vehicles annually, with mass-scale production to be commenced from 2027. This development is highlighting the industry’s shift toward major-scale production for advanced energy storage solution manufacturing. The newly developed advanced manufacturing capabilities are driving automakers to collaborate with battery developers to improve production efficiency.
The intensification of commercialization is driving stakeholders to work on key technical issues and production problems involved with the solid state batteries. Companies are significantly investing in solid electrolyte material optimization as well as enhancing interface compatibility while improving cell assembly procedures. Scaling up manufacturing operations and minimizing operational expenses depends on these innovations to ensure consistent performance with enhanced scalability. Solid state batteries demonstrate advanced potential as an energy solution, as manufacturers are initiating performance-enhancing developments that make them ideal for electric vehicles and complex electronic systems. - Decreasing material costs: The decreasing costs of manufacturing raw materials required for solid state batteries are resulting in affordability due to advanced research and production advancements. Companies are developing novel material formulation methods and scalable production technologies to decrease their need for expensive or rare materials while enhancing their cell fabrication process and decreasing error rates. The advancements in active material utilization enable businesses to decrease the cost per kilowatt-hour. Industrial research initiatives are accelerating the development of low-cost solid electrolytes that maintain both high conductivity and thermal stability to lower overall costs. Various companies are establishing joint ventures to expedite the commercial process for solid state battery production.
Joint ventures, public-private collaborations, and strategic partnerships are combining expertise in chemistry, engineering, and the automation fields to address manufacturing bottlenecks for increased production output. Production lines implementing solid state batteries are transitioning from pilot stages to commercial readiness, while these collaborations are resulting in cost competitiveness for these batteries. Solid state batteries are emerging as a transformational technology with the increasing demand for clean energy and the electrified transport transition.
Challenges
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Material challenges: The advancement of solid state batteries is facing substantial barriers due to material-related issues. The solid electrolytes and electrodes need to prove high ionic conductance properties as well as stability characteristics to operate properly at industrial scales. The search for suitable materials that can deliver these properties at affordable costs is facing difficulties. The high conductivity of solid electrolytes such as sulfides or oxides comes with stability or manufacturing challenges that restrict their use. The expense of high-performance materials remains high, which is obstructing the development of commercial-grade solid state batteries with reliable affordability, therefore hindering their market deployment.
Solid State Battery Market: Key Insights
| Report Attribute | Details |
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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 Market Segmentation:
Application (Consumer Electronics, Wearable Devices, Electric Vehicles, Medical Devices, Packaging, Wireless Sensors)
The consumer electronics segment is estimated to capture around 40% of the global solid state battery market share by the end of 2037. The miniaturization of solid state batteries is resulting in improved performance characteristics in wearable consumer electronic devices. The businesses are innovating to develop advanced power solutions that meet consumer electronics requirements for small and robust systems. For instance, in June 2024, TDK reached a major milestone in solid state battery material by developing a battery with 1,000 Wh/L capacity, which outpaces their existing battery performance by approximately 100 times. This advancement enables the development of lightweight batteries to extend the operational time of smartwatches and wireless earbuds. Such advancements are boosting the deployment of these batteries in small consumer devices as they provide enhanced safety and extended battery duration.
Modern companies are implementing innovations in consumer electronics technology while making devices safer and more functional. Environmental concerns among consumers are encouraging the implementation of solid state batteries. Batteries equipped with non-flammable solid electrolytes offer higher safety than lithium-ion batteries while simultaneously limiting the chances of fires. The solid state batteries use sustainable materials that align with the modern expanding consumer market for eco-friendly items. Consumer electronics will benefit from rising solid state battery usage as manufacturers seek to meet sustainability requirements with performance-enhanced products.
Category (Single-Cell Battery, Multi-Cell Battery)
The multi-cell battery segment is projected to hold 60% share of the global solid state battery market through 2037. Companies are upgrading cell designs in multi-layer solid state batteries to improve their performance and extend manufacturing capability. For instance, in 2024, Ilika Plc. completed the Faraday Battery Challenge project, where the company developed multi-layer solid state pouch cells following automotive standards. The automotive application standardization work required the project to enhance manufacturing processes and material compatibility, which established vital progress toward extensive electric vehicle-scale production. Research into material compatibility and manufacturing process optimization within companies is enabling large-scale solid state battery production that establishes these batteries as a promising automotive energy storage technology for use.
Manufacturing process developments are enhancing the multi-cell battery performance. Companies are working on advanced production methods that enhance the capabilities and cost reduction of solid state batteries on a large scale. Manufacturers are developing automated, innovative processes for high-precision production to enhance yield and consistency when making multi-cell configurations at industrial scale. The technological advancements allow the production of cost-efficient, high energy density batteries and target the automotive along consumer electronics industries. Improved solid state battery manufacturing methods are creating new opportunities to effectively produce cost-effective multi-cell batteries.
Our in-depth analysis of the global solid state battery 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 Analysis
The North America solid state battery market is expected to account for 34% of the global revenue share throughout the forecast period, owing to the government support in terms of financial incentives and policies. Various public interventions deliver funding, financial assistance, and tax breaks, fueling the production of next-generation battery technologies. The implemented governmental policies facilitate research and development and private sector investments for solid state battery manufacturing procedures. Government policies are resulting in favorable conditions that allow companies to advance solid state battery innovations and commercialization processes, which contribute to the overall market growth.
Solid state battery development also benefits from ongoing technological advancements and growing partnerships between major key companies. Companies are advancing solid state battery material with manufacturing enhancement and scalability development. Collaborations between battery developers, automakers, and research institutions are accelerating the process of moving from prototype research to the commercial manufacturing stage. Solid state battery implementation in consumer electronics and automotive sectors depends heavily on industry partnerships, which help solve performance hurdles and decrease manufacturing costs.
The solid state battery market in the U.S. is all set to hold a significant share during the analysis period, led by the growth of the electric vehicle industry. Solid state batteries are emerging as future battery technology, with the automobile industry considering them essential for boosting electric vehicle efficiency and safety while reducing their energy consumption. These batteries provide significant energy density combined with rapid charging ability and extended lifespan, hence, the batteries are optimal for electric vehicle usage. Automotive companies are actively researching solid state battery solutions to fulfill clean energy requirements and meet emission standards, further propelling the market growth.
The market is also witnessing a substantial expansion as the country is implementing more efficient, sustainable energy storage solutions. The government is recognizing the importance of developing reliable energy storage technologies to support its transition from traditional energy sources to renewable power systems. The solid state batteries provide enhanced safety features along with greater storage capabilities, and combine high energy storage capacity with safe operation, which is set to boost their sales growth in the years ahead.
Europe Market
The Europe solid state battery market is expected to hold 30% of the global revenue share between 2025 to 2037. This growth is attributed to the increasing demand for energy storage systems. Efficient high-capacity energy storage solutions are required at an increasing pace as renewable energy sources, particularly wind and solar, are gaining prevalence. The application requirements for these purposes support solid state batteries as they provide enhanced energy density and better safety functions. The batteries prefer ESS applications owing to their exceptional ability to handle powerful energy transfers without losing capacity, thus accelerating the market expansion.
The emphasis on emission reductions and renewable transition is resulting in significant demand for clean battery systems, including solid state energy technologies. The market perceives solid state batteries as revolutionary solutions for electric vehicle storage, along with EV and grid energy storage, due to their high energy density coupled with safety qualities and extended life cycle. The sustainability initiatives are also enabling the adoption of solid state batteries as a means to reach environmental objectives while minimizing fossil fuel consumption.
The climate commitments and zero emission goals are fueling the registration of electric vehicles in the U.K., and subsequently the application of solid state batteries. The development of solid state batteries remains crucial for electric mobility growth since these batteries enhance their energy density and vehicle range while improving overall safety performance. The leading automotive manufacturers are partnering with battery manufacturers to build advanced EVs, which is accelerating the demand for solid state batteries.
The country is boosting its position in the global battery manufacturing supply chain through an expansion of domestic solid state battery production capabilities. Manufacturing plants as well as innovation hubs are working to foster the local industry. The rising focus on improving production scale is aimed at enhancing solid state technology to reduce battery imports and reach significant industry status with benefits for automotive and clean energy.
Companies Dominating the Solid State Battery Landscape
- Bodycote Plc.
- Company Overview
- Business Strategy
- Key Technology 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.
The solid state battery market is highly competitive, with numerous players striving to commercialize this next-generation technology. Key companies are leading the development of solid state batteries, focusing on enhancing energy density, safety, and manufacturing scalability. These firms are engaged in strategic partnerships, collaborations, and research to accelerate production and reduce costs. Additionally, new entrants and startups are driving innovation, focusing on advanced materials and alternative manufacturing techniques. As the market matures, companies are vying to gain a competitive edge by securing patents, expanding production capacities, and forging alliances to dominate the rapidly growing industry.
Here are some key players operating in the global market:
In the News
- In February 2025, Hyundai announced plans to commence full-scale production of solid state batteries by March 2025. This move is part of the company's strategy to enhance the energy density and safety of its electric vehicle lineup, aiming to reduce charging times and improve overall performance.
- In January 2025, Microvast Holdings announced a breakthrough in solid state battery technology with its True All-Solid-State Battery (ASSB). The battery utilizes a bipolar stacking architecture, eliminating liquid electrolytes and enabling higher voltages. The company is advancing to the pilot production phase, aiming to set new industry standards for high-performance battery solutions.
Author Credits: Dhruv Bhatia
- Report ID: 4984
- Published Date: May 12, 2025
- Report Format: PDF, PPT
