Solid State Battery Market by Type (Bulk, Thin-film), Electrolyte Material Type (Oxide Solid Electrolyte, Polymer Solid Electrolyte, Sulfide Solid Electrolyte), Capacity, Application - Global Forecast 2024-2030

Solid State Battery Market by Type (Bulk, Thin-film), Electrolyte Material Type (Oxide Solid Electrolyte, Polymer Solid Electrolyte, Sulfide Solid Electrolyte), Capacity, Application - Global Forecast 2024-2030

The Solid State Battery Market size was estimated at USD 1.50 billion in 2023 and expected to reach USD 1.74 billion in 2024, at a CAGR 17.50% to reach USD 4.65 billion by 2030.

The solid state battery market is a rapidly emerging sector within the energy storage industry, characterized by using solid electrolytes instead of liquid or gel-based electrolytes found in conventional lithium-ion batteries. Due to their non-flammable nature, these innovative batteries offer improved energy density, longer cycle life, and enhanced safety features. The market encompasses various solid state battery types such as ceramic, polymer, glass, and composite electrolyte materials. The increasing demand for efficient and long-lasting power sources in these sectors serves as a key driver for the growth of this market. Major factors driving the growth of the market include the global shift toward sustainable transportation leading to increased EV production and adoption, persistent demand for high-capacity portable power sources in consumer electronics, suitability of solid-state batteries under extreme operating conditions in aerospace & defense applications, and rising integration of renewable energy resources necessitating efficient storage solutions. However, high manufacturing costs for solid state batteries compared to traditional lithium-ion options may impede widespread adoption. Material compatibility issues between electrodes and electrolyte types pose performance optimization difficulties. Moreover, businesses need to concentrate on innovations to ensure sustained growth in the solid state battery market and overcome its limitations. These innovations include novel material development for creating efficient solid electrolytes with enhanced attributes and advanced manufacturing techniques offering scalable processes to accelerate innovation and reduce costs while expanding the market potential for solid state batteries.

Regional Insights

The solid state battery market in the Americas is expected to experience significant growth owing to the rising demand for high-performance and safe energy storage solutions, technological advancements, and government initiatives promoting clean energy production. However, North America holds a substantial share of the global solid state battery market, driven by investments from government agencies and private firms aiming to develop advanced energy storage systems. In Europe, countries such as Germany, the UK, France, and Italy actively contribute to the growth of the global solid state battery market. The Asia-Pacific region is projected to be a key growth driver, fueled by rapid urbanization and the rising demand for consumer electronics that require advanced energy storage solutions. Latin America, the Middle East, and Africa are embracing solid-state batteries as their economies grow and renewable energy becomes crucial for long-term energy goals. Collaborations between the industry and governments worldwide are expected to shape the future of the solid state battery landscape in the upcoming period.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Solid State Battery Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Continuous increasing electric vehicle production with focus on green technologies
    • Growing demand for wearable and miniaturized electronic devices
    • Market Restraints
      • High cost associated with the manufacturing of solid state batteries
      • Market Opportunities
        • Continuous advancements in the development of novel solid state-batteries
        • Growing incorporation of solid state batteries into smart grids and microgrid systems
        • Market Challenges
          • Technical and operational issues with the usage of solid state batteries
          • Market Segmentation Analysis
            • Type: Higher penetration of bulk solid state battery into the EV industry and consumer electronics sector
            • Capacity: Increasing demand for batteries with 20 mAh to 500 mAh capacity in the wearable and medical devices
            • Application: Increasing adoption of solid state batteries in electric vehicles
            • Electrolyte Material Type: Wider adoption of polymer solid electrolytes in solid state battery due to its flexible and lightweight feature
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Solid State Battery Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Solid State Battery Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Toyota Motor Corporation, Idemitsu Kosan Co. to Collaborate on Solid EV Batteries
              
              Toyota Motor Corporation and Idemitsu Kosan Co. have formed a partnership to collaborate on the mass production of all-solid state batteries for electric vehicles. The goal is for Toyota Motor Corporation to introduce next-generation all-solid state batteries by 2027 or 2028 to maintain competitiveness in the EV market. The two companies aim to mass-produce solid-state batteries and drive innovation in Japan by combining their respective technologies. Unlike conventional batteries, all-solid-state batteries utilize a solid electrolyte instead of a liquid, offering a range of up to 1,200 kilometers and a quick 10-minute charging time.
              
              QuantumScape Corporation to Bring Solid-state Batteries to Market “as Quickly as Possible”
              
              QuantumScape Corporation, a solid state battery specialist based in the U.S., is currently working with a potential launch customer from the automotive industry to develop its first commercial product. As part of its testing phase, the company has shipped 24-layer solid-state cells to automakers, including Volkswagen AG. Additionally, QuantumScape Corporation has successfully secured a collaboration with an undisclosed potential launch customer to expedite the introduction of this technology into the electric vehicle market. Their joint efforts aim to bring this advanced battery technology to consumers as quickly as possible.
              
              Ilika PLC Leads EUR 2.7 Million Collaboration for Industrialisation of its Goliath Solid State Batteries for Electric Vehicles
              
              Ilika PLC is spearheading a EUR 2.7 million ATF program in collaboration with Mpac Group plc and the UK Battery Industrialisation Centre. The SiSTEM project aims to establish an assembly line for Ilika's SSB pouch cells, which can be delivered to automotive OEMs and Tier 1s. UKBIC would conduct physical tests on Ilika PLC's SSB electrodes to ensure scalability. Additionally, the Bus100 program demonstrated that some of Ilika's SSB processes are carried out using existing LIB manufacturing equipment at UKBIC.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Solid State Battery Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Solid State Battery Market, highlighting leading vendors and their innovative profiles. These include Ampcera Inc., Basquevolt S.A.U., Beijing WeLion New Energy Technology Co., Ltd., Blue Solutions S.A.S. by Bolloré SE, Contemporary Amperex Technology Co., Limited, Coros Battery Co., Ltd., Enevate Corporation, Factorial Inc., Ganfeng Lithium Group Co., Ltd, Hitachi Zosen Corporation, Honda Motor Co., Ltd., Ilika PLC, Ion Storage Systems, Johnson Energy Storage, Inc., Johnson R&D, LG Energy Solution Co., Ltd., Maxell, Ltd., Murata Manufacturing Co., Ltd., Natrion Inc., Nissan Motor Co., Ltd., Niterra Co., Ltd., Panasonic Holdings Corporation, ProLogium Technology Co., Ltd., QuantumScape Corporation, Robert Bosch GmbH, Sakuu Corporation, Samsung SDI Co., Ltd., SK Inc., Solvay S.A., STMicroelectronics N.V., TDK Corportation, Theion GmbH, Toyota Motor Corporation, Volta Energy Technologies, and Yoshino Technology, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Solid State Battery Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Bulk
              • Thin-film
              • Electrolyte Material Type
                • Oxide Solid Electrolyte
                • Polymer Solid Electrolyte
                • Sulfide Solid Electrolyte
                • Capacity
                  • 500 MAH & Above
                  • Between 20 MAH & 500 MAH
                  • Less than 20 MAH
                  • Application
                    • Consumer & Portable Electronics
                    • Electric Vehicle
                    • Energy Harvesting
                    • Wearable & Medical Devices
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • Massachusetts
                          • Michigan
                          • New York
                          • Ohio
                          • Oregon
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year