WorldWide Solid State Battery Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Solid State Battery Market

Industry / Sector Trends

Solid State Battery Market size exceeded a value of USD 100 million in 2018 and is anticipated to witness an annual growth rate of over 40% from 2019 to 2025.
 

UK Solid State Battery Market Size, By Product, 2018 & 2025 (USD Million)

 

Growing adoption of sustainable energy technologies coupled with increasing demand for energy storage systems will foster the solid state battery market growth. Extensive research and development activities toward commercialization of batteries by leading industry players will further complement the business outlook. In January 2019, Ilika announced the commencement of MoSESS project led by McLaren Automotive for the development of Stereax Goliath batteries for high-performance automotive application.
 

Declining cost of electric vehicles along with increasing purchasing power of consumers will boost the solid state battery market size. In addition, implementation of strict government regulations toward carbon emissions across transportation sector will encourage the industry growth. For instance, in 2019 the EU has revised the Clean Vehicle Directive in which the procurement target for green busses has been set between 24% to 45% based on the GDP of the member nations.
 

Rapid technological advancement coupled with ongoing innovations toward product design and development to be used across applications including consumer electronics and bulk energy storage systems will augment solid state battery market. Accelerating investments pertaining to the adoption of electric vehicles will provide immense opportunities to leading industry players for inorganic growth ventures and extensive R&D activities.
 

Market Segmentation, Outlook & Regional Insights: Solid State Battery Market

 Solid State Battery Market, By Product

North America Solid State Battery Market Size, By Product, 2018 & 2025 (USD Million)

 

Thin film solid state battery market is anticipated to grow at a rate of over 40% by 2025. Growing demand for smart cards, medical implantable devices, RFID and other wearable devices will positively influence the product adoption. These are small size batteries with components fabricated from a wide range of patterning and deposition technologies which are compatible with microelectronic fabrication technique.
 

Accelerating investments across various industries including military, medical and small-scale manufacturing sector will drive the bulk storage solid state battery market growth. Ongoing advancement in technology and materials have led to the development of these units for large scale energy storage. In addition, the growing product adoption as a substitute to conventional systems owing to its large operating cycle, non-volatile, efficiency, non-flammable and high conductivity will complement the business outlook.
 

Solid State Battery Market, By Application

Solid state battery market from automotive application is set to witness a rapid growth on account of introduction of various incentives and subsides launched by respective government authorities. Increasing focus toward zero emission vehicles along with robust investments toward development of electric vehicles will fuel the industry growth. In addition, accelerating demand for personal mobility coupled with technological advancement toward commercialization of the product will boost the product adoption.
 

Industrial application in 2018, accounted for over 25% of the global solid state battery market share. Ongoing adoption of units across medical, military and marine applications will stimulate the industry growth. These batteries are being widely used in pacemakers, smart lenses, Wireless Body Area Network (WBAN), implantable devices and for various other medical purposes. In addition, the continuous technological advancement has led to their increasing use in military vehicles, remote military base stations and other military operations.
 

Solid State Battery Market, By Region

The U.S. solid state battery market is set to exceed USD 800 million by 2025. Paradigm shift toward deployment of sustainable energy technologies along with increasing use of product across smart cards, RFID’s and other wearable devices will complement the business outlook. In addition, growing utilization of energy storage systems with various clean energy sources will propel the industry growth.
 

Ongoing development & expansion of automotive manufacturing sector including electric and hybrid vehicles coupled with strong economic growth will stimulate the China solid state battery market growth. According to IEA in 2018, the number of electric vehicles across the nation reached 2.3 million and accounted for around 45% of the global EV fleet. Increasing government backed funding programs toward development of safer, reliable and efficient battery technologies will boost the industry outlook.
 

Asia Pacific Solid State Battery Market Size, By Region, 2025 (USD Million)

 

Favourable regulatory policies pertaining to the development of industrial sector coupled with ongoing adoption of electric vehicles across the nations will strengthen the Europe solid state battery market growth. For instance, the plug-in vehicle sales across Europe accounted for 4,08,000 units in 2018, an increase of 33% when compared with 2017 sales. In addition, increasing investments toward development of renewable energy sector will boost the product demand.
 

Key Players, Recent Developments & Sector Viewpoints: Solid State Battery Market


Prominent industry players operating across the solid state battery market includes Cymbet, BrightVolt, Excellatron, Solid Power, Ilika, Prieto Battery, Hitachi Zosen, Robert Bosch, Planner Energy, STMicroelectronics, Toyota, Altair Nanotechnologies, QuantumScape, Front Edge, 24M Technologies.
 

The industry players are extensively focusing toward research & development activities and product innovations to commercialize the batteries for large scale utilization. In addition, technological collaborations with electric vehicle manufacturing companies have been a key strategic implication to remain competitive by leading players.
 

Solid State Battery Industry Viewpoint

 

 

The solid state battery is a technology which uses solid electrodes and electrolyte, instead of using polymer or liquid electrolytes that are found in lithium polymer batteries. The technology uses redox reaction to store and deliver energy. The oxidation occurs at the anode and reduction occurs at the cathode. The battery uses the phenomena to charge and discharge energy as and when necessary. The industry is in a nascent stage of development with extensive research and development activities being carried out by leading industry players toward commercializatio

Key Insights Covered: Exhaustive Solid State Battery Market
1.  Market size (sales, revenue and growth rate) of Solid State Battery industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Solid State Battery industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Solid State Battery industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Solid State Battery industry.

Research Methodology: Solid State Battery Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.