Global Solid-state Battery Market Report 2022: Industry to Reach $3 Billion by 2028 at a 30% CAGR

DUBLIN, Dec. 30, 2022 /PRNewswire/ -- The "Global Solid-state Battery Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Application, and Major Regions" report has been added to  ResearchAndMarkets.com's offering.

A solid-state battery uses a solid as an electrolyte and has high energy density, better stability, and is safer in comparison to lithium-ion batteries. Different kinds of electrolytes could be used to increase the efficiency of a solid-state battery. Solid-state batteries are less expensive, safer, and more durable.

According to this analysis, the Global Solid-state Battery Market is expected to record a positive CAGR of ~30% during the forecast period (2022-2028) and is expected to reach nearly US$ 3,000 million by 2028, owing to an increase in research and development activity on solid-state batteries.

The increasing demand for the solid-state battery to offer high energy density is anticipated to propel the growth of the global solid-state battery market during the forecast period.

The surging demand for electric vehicles along with increasing investment and partnerships between battery manufacturers and automobile manufacturers is likely to propel the growth of the global solid-state battery market.

The global solid-state battery market faces challenges due to the high manufacturing cost of solid-state batteries.

The availability of other substitutes such as graphene batteries, sand batteries, lithium-sulfur batteries, and others is also expected to restrict the growth of the market.

The COVID-19 pandemic positively impacted the solid-state battery market as countries-imposed lockdowns to curb the situation which resulted in a massive shift to remote and online working and as a result, the demand for electronics increased. Furthermore, the increase in cardiovascular diseases among patients suffering from COVID-19 boosted the demand for pacemakers as well as solid-state batteries.

Scope of the Report

The solid-state battery market is segmented by type and application. In addition, the report also covers market size and forecasts for the four region's solid-state battery market. The revenue used to size and forecast the market for each segment is US$ million.

By Type

• Thin Film Battery
• Portable Battery

By Application

• Consumer & Portable Electronics
• Electric Vehicles
• Energy Harvesting
• Wearable & Medical Devices
• Others

By Geography

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Sweden, Italy)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
• LAMEA (Latin America, Middle East, Africa)

Key Trends by Market Segment

By Type: The thin film battery segment held the largest share of the global solid-state battery market by type in 2021, owing to the growing demand for thin film batteries for various applications including wearable devices, and others.

The adoption of thin film batteries as they have a low impact on the environment as well as their efficient recharge rate and compact size are expected to fuel the demand for the segment in the global solid-state battery market.

By Application: The consumer & portable electronics segment accounted for the largest share of the global solid-state battery market in 2021, attributed to the growing urbanization and increasing disposable incomes.

The increase in demand for electronic goods such as mobile phones, laptops, and others among consumers is anticipated to aid the growth of the segment in the global solid-state battery market.

By Geography: Asia-Pacific region accounted for the largest share of the global solid-state battery market in 2021, due to the growing demand for electric vehicles.

The increasing focus on the research and development of solid-state batteries along with supportive initiatives by the government to reduce carbon emissions for automobiles, is expected to augment the growth of the region in the solid-state battery market.

Competitive Landscape

The solid-state battery market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in the solid-state battery.

Regional players comprise ~45% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. However majority of the regional and country-niche players are suppliers of components or assembling & distribution partners of global players. 

Key Topics Covered in the Report

• Snapshot of the Global Solid-state Battery Market
• Industry Value Chain and Ecosystem Analysis of the Solid-state Battery Market
• Market size and Segmentation of the Global Solid-state Battery Market
• Historic Growth of the Overall Global Solid-state Battery Market and Segments
• Competition Scenario of the Solid-state Battery Market and Key Developments of Competitors
• Porter's 5 Forces Analysis of the Global Solid-state Battery Industry
• Overview, Product Offerings, and Strategic Developments of Key Competitors
• COVID-19 Impact on the Overall Global Solid-state Battery Market
• Future Market Forecast and Growth Rates of the Global Solid-state Battery Market and by Segments
• Market Size of Application/Application Segments with historical CAGR and Future Forecasts
• Analysis of the Solid-state Battery Market in Major Regions
• Major Production/Consumption Hubs in the Major Regions
• Major Production/Supply and Consumption/Demand Hubs in Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Solid-state Battery Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Region

Major Companies Mentioned in the Report

• Cymbet
• Toyota
• Robert Bosch GmbH
• Solid Power Inc
• Excellatron
• BrightVolt Inc
• SK Innovation Co. Ltd
• STMicroelectronics
• Total Energies
• StoreDot
• QuntumScape Corporation
• Factorial Inc
• Gangfeng Lithium Co Ltd
• Prieto Battery
• Dyson Ltd

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

• Solid-state Battery Manufacturers
• Electric Vehicle Manufacturers
• Electronic Manufacturers
• Wearable Device Manufacturers
• Medical Device Manufacturers
• Research & Consulting Firms
• Research and Development Associations
• Investment Banking & Financial Institutes
• Research & Development Institutes for Solid-state Battery
• Solid-state Battery Providers
• Solid-state Battery Technology Research Organizations
• Solid-state Battery Suppliers
• Investors in Solid-state Battery Start-ups
• Solid-state Battery Distributors
• Government Regulatory Bodies

Key Topics Covered:

1. Executive Summary

2. Market Overview and Key Trends Impacting Growth

3. Total Global- Market Segmentation by Type, Historic Growth, Outlook & Forecasts

4. Total Global- Market Segmentation by Application, Historic Growth, Outlook & Forecasts

5. Industry/Competition Analysis - Competitive Landscape

6. Key Competitor Profiles (Company Overview, Strategic Developments, Product Offerings)

7. Geographic Analysis & Major Region Market Historic Growth, Outlook, and Forecasts

8.Industry Expert's Opinions/Perspectives

9. Analyst Recommendation

For more information about this report visit https://www.researchandmarkets.com/r/ij4699

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SOURCE Research and Markets