Solid State Battery Market Size - By Type(Single-cell Battery, Multi-cell Battery), by Component(Anode, Cathode, Solid Electrolyte, Composite), by Rechargeability(Primary Battery, Secondary Battery), by Capacity(Below 20 mAh,, Between 20 mAh and 500 mAh, Above 500 mAh), by Application(Consumer Electronics, Electric Vehicles, Energy Harvesting, Medical Devices, Packaging, Wireless Sensors) & Region - Forecasts 2023 - 2033
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Global Solid State Battery Market Analysis by Type, Rechargeability, Capacity, Application and Region and segments forecast till 2033
Market Overview
The global Solid State Battery market was worth USD 47,200 million in 2022 and is anticipated to amplify at a CAGR of 18% over 2023-2033, thereby accumulating USD 177,420 million by end of the analysis timeline.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 47,200 Million |
Market Forecast in 2033 | USD 177,420 Million |
CAGR % 2023-2033 | 18% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Rechargeability, Capacity, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Robert Bosch, Toyota Motor, Solid Power, Excellatron Solid State LLC, Brightvolt, Blue Solutions, Quantumscape, Prologium Technology, Sakuu Corporation, Ilika, Samsung SDI Co Ltd, Lionvolt, Factorial Energy, NGK spark plug, Jiangxi Ganfeng Lithium Co. Ltd, Qing Tao Energy Development, Dyson Ltd, Prieto Battery, Storedot Ltd., Northvolt, LG Chem, Ioniq Materials, Catl (Contemporary Amperex Technology Co. Limited), SK Innovation, Cymbet, and Others. |
Solid-state batteries are safer, have higher energy densities compared to conventional Li-ion batteries with liquid electrolytes and are more stable. A solid-state battery is basically a battery technology which generally utilizes solid electrodes and a solid electrolyte, instead of the liquid or polymer gel electrolytes found in lithium-ion or lithium polymer batteries. These batteries are also categorized into their capacity such as 20 mAh, between 20 mAh and 500 mAh and above 500 mAh.
They are utilized in various applications, comprising of consumer electronics, electric vehicle, energy harvesting, medical devices, smart cards, and wireless communication. The global market has been analysed based on revenue enkindled from the sales of commercialized solid-state batteries. In addition, investment from industry giants such as Apple, Samsung, Volkswagen, and BMW have been analysed for deriving the numbers. Solid-state batteries could be the game changer for electric vehicles, support advanced consumer electronics such as mobiles and laptops, and are adopted in emerging applications such as energy harvesting and wearable devices.
Factors such as the rising requirement of solid state batteries in electric vehicles, the increasing trend towards the miniaturization of consumer electronics, and growing R&D activities by major companies are propelling the growth of the solid state battery market. The rising research and development activities associated to solid state batteries, rising deployment of IOT to promote adoption of solid state batteries and high adoption of adoption of solid state batteries in electric vehicles, miniaturization of electronic devices will emerge as the major factor driving market growth.
Furthermore, increasing application scope of solid state batteries in the healthcare, electric vehicle and drone sectors, incorporation of flexible and lightweight batteries in wearable devices along with its extended shelf life of solid state batteries as compared to conventional batteries will further aggravate the market value. However, the high cost of solid state batteries and complex manufacturing process of solid state batteries act as a restraint for the market.
Solid-state batteries have a higher energy density, a solid structure, better stability, and are safer compared to lithium-ion batteries, they have a few limitations such as low ionic conductivity, are highly reactive, and involve overall high cost. These limitations can be addressed by introducing different solid-state electrolytes (SSEs) made up of a variety of materials.
Solid polymer and inorganic electrolytes are excellent for all-solid-state batteries, but they have limitations such as low ionic conductivity and poor mechanical properties, which is achieved by the discovery of Composite Solid Electrolytes (CSEs) that contain active or passive inorganic fillers and polymer matrixes. Solid-state batteries are generally more expensive than conventional batteries. The manufacturing process of these batteries requires complex equipment. The cost of the fabrication of cells used in these batteries is also high.
The cost of materials used for the development of these batteries is an important parameter while selecting them. Battery manufacturers find it difficult to obtain highly efficient electrodes at low costs. Thus, the high costs of materials used for the development of solid-state batteries increase their overall costs. Hence, the integration of these batteries in consumer electronics, wearable devices, etc., is not viable.
Rechargeability Insights
The solid state battery market for secondary batteries is expected to grow at a higher CAGR during the forecast period. Thin-film and solid-state chip batteries, the most commonly used batteries, are secondary batteries. Rechargeable batteries are used in medical devices, electric vehicles, wireless sensors, and consumer electronics.
Capacity Insights
The below 20 mAh segment dominated the market in 2021, in terms of size, and held majority share of the overall market in 2021. Batteries that fall under the capacity range of below 20 mAh are mostly thin-film batteries and are widely used in applications such as packaging, wireless sensors, medical & cosmetic patches, and other low drain devices.
Application Insights
Medical devices held the largest size of the solid-state battery market in 2021. Currently, solid-state batteries have been significantly used in the medical devices industry; several manufacturers are designing and offering solid-state batteries to power medical devices, such as temperature sensors, pacemakers, and smart patches.
Regional Insights
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the major benefactors to the expansion of this business vertical. Among these, Middle East and Africa Medical devices market held the largest size of the solid-state battery market in 2021. Currently, solid-state batteries have been significantly used in the medical devices industry; several manufacturers are designing and offering solid-state batteries to power medical devices, such as temperature sensors, pacemakers, and smart patches.
Competitive Analysis
The major players operating in the marketplace are Robert Bosch, Toyota Motor, Solid Power, Excellatron Solid State LLC, Brightvolt, Blue Solutions, Quantumscape, Prologium Technology, Sakuu Corporation, Ilika, Samsung SDI Co Ltd, Lionvolt, Factorial Energy, NGK spark plug, Jiangxi Ganfeng Lithium Co. Ltd, Qing Tao Energy Development, Dyson Ltd, Prieto Battery, Storedot Ltd., Northvolt, LG Chem, Ioniq Materials, Catl (Contemporary Amperex Technology Co. Limited), SK Innovation, Cymbet, and Others.
Global Solid State Battery market- Segmental Analysis
Based on Type
• Multi-Cell Battery
• Single-Cell Battery
Based on Rechargeability
• Secondary Battery
• Primary Battery
Based on Capacity
• Below 20 mAh
• Between 20 mAh and 500 mAh
• Above 500 mAh
Based on Application
• Consumers Electronics
• Electric Vehicles
• Energy Harvesting
• Medical Devices
• Wireless Sensors
• Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Solid State Battery market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Solid State Battery market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification
1. Global Solid State Battery Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Solid State Battery Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global Solid State Battery Market Scope and Market Estimation
1.4.1. Global Solid State Battery Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Solid State Battery Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Solid State Battery Market Segmentation
1.5.1. Type of Global Solid State Battery Market
1.5.2. Component of Global Solid State Battery Market
1.5.3. Rechargeability of Global Solid State Battery Market
1.5.4. Capacity of Global Solid State Battery Market
1.5.5. Application of Solid State Battery Market
1.5.6. Key Regions of Solid State Battery Market
2. Global Solid State Battery Market - Executive Summary
2.1. Global Solid State Battery Market – Summary & Snapshot
2.2. Global Solid State Battery Market, By Type (US$ Million)
2.3. Global Solid State Battery Market, By Component (US$ Million)
2.4. Global Solid State Battery Market, By Rechargeability (US$ Million)
2.5. Global Solid State Battery Market, By Capacity (US$ Million)
2.6. Global Solid State Battery Market, By Application (US$ Million)
2.7. Global Solid State Battery Market, By Geography (US$ Million)
2.8. Global Solid State Battery Market Outlook & Future Opportunities
3. Solid State Battery Market Trends, Outlook, and Factors Analysis
3.1. Global Solid State Battery Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Solid State Battery Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Solid State Battery Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. With a constant Surge in Research and Development Activities Related To Solid-State Batteries, To Overcome Their Limitations and with new applications, the market is set to boast in the forecasted time period.
3.2.2. Restraints
3.2.2.1. The Manufacturing Costs of Solid-State Batteries are usually high and hold them back from being applicable to where ever possible.
3.2.3. Opportunities
3.2.3.1. The Growing Global Demand for Electric Vehicles is one of the main opportunity for solid state batteries to grow.
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Solid State Battery Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Solid State Battery Market
3.9.1. By Type
3.9.2. By Component
3.9.3. By Rechargeability
3.9.4. By Capacity
3.9.5. By Application
3.9.6. By Regions
4. Global Solid State Battery Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Solid State Battery Market, 2020 – 2021 (US$ Million)
4.2. Global Solid State Battery Market, By Type, 2020 To 2021 (US$ Million)
4.3. Global Solid State Battery Market, By Component, 2020 To 2021 (US$ Million)
4.4. Global Solid State Battery Market, By Rechargeability, 2020 To 2021 (US$ Million)
4.5. Global Solid State Battery Market, By Capacity, 2020 To 2021 (US$ Million)
4.6. Global Solid State Battery Market, By Application 2020 To 2021 (US$ Million)
4.7. Global Solid State Battery Market, By Region, 2020 To 2021 (US$ Million)
5. Global Solid State Battery Market Estimates & Forecast Trend Analysis, by Type
5.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033
5.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, by Type, 2022 to 2033
5.2.1. Single-cell Battery
5.2.2. Multi-cell Battery
5.2.3. Others
6. Global Solid State Battery Market Estimates & Forecast Trend Analysis, by Component
6.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, by Component, 2022 & 2033
6.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2022 to 2033
6.2.1. ANODE
6.2.2. CATHODE
6.2.3. SOLID ELECTROLYTE
6.2.3.1. SOLID POLYMER
6.2.3.2. INORGANIC
6.2.3.2.1. Oxide
6.2.3.2.2. Sulfide
6.2.3.2.3. Crystalline inorganic electrolytes
6.2.3.2.3.1. Thio-LISICON type electrolytes
6.2.3.2.3.2. Garnet-type electrolytes
6.2.3.2.3.3. Perovskite-type electrolytes
6.2.3.2.3.4. NASICON-type electrolytes
6.2.3.2.4. Glass-based inorganic electrolytes
6.2.3.2.4.1. Glassy electrolytes
6.2.3.2.4.2. Glass–ceramic electrolytes
6.2.3.2.5. Pseudo solid
6.2.3.2.5.1. Hybrid solid-state electrolytes
6.2.3.2.5.2. Ionogels
6.2.3.2.5.3. Ionic plastic crystals
6.2.4. COMPOSITE
6.2.5. OTHERS
7. Global Solid State Battery Market Estimates & Forecast Trend Analysis, by Rechargeability
7.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, By Rechargeability, 2022 & 2033
7.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, by Rechargeability, 2022 to 2033
7.2.1. Primary Battery
7.2.2. Secondary Battery
8. Global Solid State Battery Market Estimates & Forecast Trend Analysis, by Capacity
8.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, By Capacity, 2022 & 2033
8.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, by Capacity, 2022 to 2033
8.2.1. Below 20 mAh,
8.2.2. Between 20 mAh and 500 mAh
8.2.3. Above 500 mAh
9. Global Solid State Battery Market Estimates & Forecast Trend Analysis, by Application
9.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, By Application, 2022 & 2033
9.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033
9.2.1. Consumer Electronics
9.2.2. Electric Vehicles
9.2.3. Energy Harvesting
9.2.4. Medical Devices
9.2.5. Packaging
9.2.6. Wireless Sensors
9.2.7. Others
10. Global Solid State Battery Market Analysis and Forecast, by Region
10.1. Global Solid State Battery Market Share (%) Estimates and Forecasts, By Region, 2022 & 2033
10.2. Global Solid State Battery Market Revenue (US$ Million) Estimates and Forecasts, By Region, 2022 To 2033
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Middle East and Africa
10.2.5. Latin America
11. North America Solid State Battery Market: Estimates & Forecast Trend Analysis
11.1. North America Solid State Battery Market Assessments & Key Findings
11.2. North America Solid State Battery Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. North America Solid State Battery Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
11.3.1. By Type
11.3.2. By Component
11.3.3. By Rechargeability
11.3.4. By Capacity
11.3.5. By Application
11.3.6. By Major Country
11.3.6.1. The U.S.
11.3.6.2. Canada
12. Europe Solid State Battery Market: Estimates & Forecast Trend Analysis
12.1. Europe Solid State Battery Market Assessments & Key Findings
12.2. Europe Solid State Battery Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Europe Solid State Battery Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Type
12.3.2. By Component
12.3.3. By Rechargeability
12.3.4. By Capacity
12.3.5. By Application
12.3.6. By Major Country
12.3.6.1. Germany
12.3.6.2. The U.K.
12.3.6.3. France
12.3.6.4. Italy
12.3.6.5. Spain
12.3.6.6. Rest of Europe (includes all other European countries)
13. Asia Pacific Solid State Battery Market: Estimates & Forecast Trend Analysis
13.1. Asia Pacific Solid State Battery Market Assessments & Key Findings
13.2. Asia Pacific Solid State Battery Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Asia Pacific Solid State Battery Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
13.3.1. By Type
13.3.2. By Component
13.3.3. By Rechargeability
13.3.4. By Capacity
13.3.5. By Application
13.3.6. By Major Country
13.3.6.1. China
13.3.6.2. Japan
13.3.6.3. India
13.3.6.4. ASEAN
13.3.6.5. South Korea
13.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
14. Middle East & Africa Solid State Battery Market: Estimates & Forecast Trend Analysis
14.1. Middle East & Africa Solid State Battery Market Assessments & Key Findings
14.2. Middle East & Africa Solid State Battery Market Share (%) Estimates and Forecasts, 2022 & 2033
14.3. Middle East & Africa Solid State Battery Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
14.3.1. By Type
14.3.2. By Component
14.3.3. By Rechargeability
14.3.4. By Capacity
14.3.5. By Application
14.3.6. By Major Country
14.3.6.1. GCC
14.3.6.2. South Africa
14.3.6.3. Egypt
14.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
15. Latin America Solid State Battery Market: Estimates & Forecast Trend Analysis
15.1. Latin America Market Assessments & Key Findings
15.2. Latin America Solid State Battery Market Share (%) Estimates and Forecasts, 2022 & 2033
15.3. Latin America Solid State Battery Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
15.3.1. By Type
15.3.2. By Component
15.3.3. By Rechargeability
15.3.4. By Capacity
15.3.5. By Application
15.3.6. By Major Country
15.3.6.1. Brazil
15.3.6.2. Mexico
15.3.6.3. Rest of Latin America (includes all other Latin America countries)
16. Competitive Landscape
16.1. Solid State Battery Market Revenue Share Analysis (%), By Major Players (2021)
16.2. Solid State Battery Market Competition Matrix, By Leading Players
16.3. Solid State Battery List of Emerging, Prominent & Leading Players
16.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, Etc.
17. Company Profiles
17.1. Cymbet
17.1.1. Company Overview & Insights
17.1.2. Financial PerRechargeabilityance
17.1.3. Product / Service Portfolio
17.1.4. Geographical Footprint & Share
17.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
17.2. Robert Bosch
17.3. Toyota Motor
17.4. Solid Power
17.5. Excellatron Solid State LLC
17.6. Brightvolt
17.7. Blue Solutions
17.8. Quantumscape
17.9. Prologium Technology
17.10. Sakuu Corporation
17.11. Ilika
17.12. Samsung SDI Co Ltd
17.13. Lionvolt
17.14. Factorial Energy
17.15. NGK spark plug
17.16. Jiangxi Ganfeng Lithium Co. Ltd
17.17. Qing Tao Energy Development
17.18. Dyson Ltd
17.19. Prieto Battery
17.20. Storedot Ltd.
17.21. Northvolt
17.22. LG Chem
17.23. Ioniq Materials
17.24. Catl (Contemporary Amperex Technology Co. Limited)
17.25. SK Innovation
17.26. Others
18. Assumptions and Research Methodology
18.1. Data Mining
18.2. Secondary Research
18.3. Primary Research
18.4. Subject Matter Expert Advice
18.5. Quality Check
18.6. Final Review
18.7. Data Triangulation
18.8. Bottom-Up Approach
18.9. Top Down Approach
18.10. Research Flow
18.11. Key Insights from Industry Experts
18.12. Data Types
18.13. Assumptions
18.14. Limitations
19. Conclusions and Recommendations
19.1. Key Research Findings and Conclusion
19.2. Key Insights & Recommendations from Analysts
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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