Global Solid State Battery Market Size & Share to 2027
Global Solid State Battery Market Size, Trends & Growth Opportunity, By Type (Thin-Film, and Portable), By Capacity (less than 20mAh, between 20mAh, and 500mAh), By Application (Consumer & Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable Medical Devices, and Others), By Region and Forecast till 2027
Global Solid State Battery Market
Solid state batteries defined as the emerging trend for next generation traction batteries, as they provide high performance, and safety at low cost. These batteries serve to be a potential alternative to conventional lithium-ion batteries that use liquid or polymer electrolytes. Solid state batteries are more efficient and they can store more energy than conventional batteries.
Market Drivers
Growing demand for solid-state batteries among end-use industries along with the increase in research and development activities focused on commercializing the battery cost are expected to boost the global solid state battery market growth. Furthermore, the rise in adoption of electronic gadgets and the increase in deployment of electric vehicles will positively influence the market growth over the forecast period. These batteries provide higher energy density, high electrochemical stability, and low flammability when compared to conventional batteries, thereby enhancing their commercial market value. Also, the rise in use of solid state batteries in healthcare, wearable, and drones sectors expected to propel the global solid state battery market growth. In addition to that, the rise in investment in the market, by key operating players such as Samsung is expected to offer future growth opportunities for the market.
Market Restraints
The high cost of solid state batteries is the major restraint is expected to hinder the global solid state battery market growth. Also, the complicated manufacturing process of solid state batteries will limit the global solid state battery market growth.
Market Segmentation
Global Solid State Battery Market is segmented into type such as Thin-Film, and Portable, by capacity such as less than 20mAh, between 20mAh, and 500mAh. Further, market is segmented into application such as Consumer & Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable Medical Devices, and Others.
Also, Global Solid State Battery Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Robert Bosch GmbH, Solvay, Samsung SDI Co. Ltd, Cymbet, TOYOTA MOTOR, BRIGHTVOLT, EXCELLATRON SOLID STATE, BLUE SOLUTIONS, SOLID POWER, QUANTUMSCAPE, PROLOGIUM TECHNOLOGY, and KERACEL
Market Taxonomy
By Type
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