The Worldwide Solid State Battery Industry is Expected to Reach $294 Million by 2027

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Apr 28, 2022, 15:15 ET

DUBLIN, April 28, 2022 /PRNewswire/ -- The "Global Solid State Battery Market Size, Share & Industry Trends Analysis Report By Type (Single-cell Battery and Multi-cell Battery), By Capacity, By Battery Type, By Application, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Solid State Battery Market size is expected to reach $294.1 million by 2027, rising at a market growth of 35.0% CAGR during the forecast period.

Due to their increased energy density, lithium-ion batteries (LIBs) are regarded as one of the most promising energy storage technology. LIBs are used in a wide range of applications, including mobile electronics, electric and hybrid cars, and fixed energy storage systems, among others. Because of their inexpensive cost and abundant sodium supplies, sodium-ion batteries have lately got a lot of interest as a substitute to LIBs for electric energy storage applications. Aluminum ion batteries are a potential option because of their inexpensive cost, benign nature, and availability on the planet, and the three electron redox couples which enable a competitive storage capacity when compared to single-electron lithium-ion storage.

Traditional LIBs using organic liquid electrolytes have a number of disadvantages, including safety concerns and a poor energy density. Owing to the need for non-flammable solid electrolytes, allowing permit a large improvement in energy density, solid-state Li batteries are projected to utilise metallic Li anodes. Solid-state batteries (SSBs) are becoming more attractive as next-generation high-energy density batteries thanks to the addition of metal anodes. Lithium metal, in particular, has a high theoretical specific capacity, low density, and the lowest electrochemical potential of all the metals.

SSBs are thought to be safe and secure, offering longer life cycles, better energy density, and need less packaging than Li-ion batteries with a liquid electrolyte. As a result, SSBs have gotten a lot of attention in recent decades. In this brief overview, we summarise recent developments in solid-state Li, Na, and Al batteries, as well as current problems, and suggest various viable research avenues to address these issues.

SSBs are thought to be safe and secure, offering longer life cycles, better energy density, and need less packaging than Li-ion batteries with a liquid electrolyte. As a result, SSBs have gotten a lot of attention in recent decades. In this brief overview, we summarise recent developments in solid-state Li, Na, and Al batteries, as well as current problems, and suggest various viable research avenues to address these issues.

COVID-19 Impact Analysis

The existence of Covid-19 outbreaks can be used to forecast solid-state battery industry growth. The Covid-19 epidemic forced the closure or partial closure of industries, warehouses, enterprises, and educational institutions throughout the world. Other lockdown measures were implemented as well, including stringent social distance standards, restricted travel, and limited access to public areas, restaurants, theme parks, movie theatres, and shopping malls.

Supply chain operations and logistics-related services were disrupted in almost every industry throughout the world. The solid-state battery market's development has also been hampered by limited consumer and business investment, lockdown efforts, and supply chain interruptions. The market is experiencing a downturn as a result of the Covid-19 epidemic, which has resulted in the closure of many SMEs, logistical difficulties, lockdowns, and other issues.

Market Growth Factors:

Global demand for electric vehicles is increasing

One of the biggest development prospects for the solid-state battery industry is the employment of these batteries in electric cars. Due to the introduction of favourable legislation in countries such as the United States, the United Kingdom, China, Germany, and Japan, worldwide demand for electric cars is steadily expanding.

Moreover, the adoption of electric cars in nations such as the United States, the United Kingdom, and Germany, among others, is assisting them in reducing their reliance on imported oil and lowering greenhouse gas emissions in the transportation sector. Every year, the worldwide sales of light electric vehicles increase significantly. China, the United States, the United Kingdom, Germany, France, and Japan are just a handful of the important countries driving up electric car sales. The rising popularity of electric cars is propelling the development of solid-state batteries.

Market Restraining Factors

Solid-State battery manufacturing costs are quite high

The development of solid-state batteries necessitates large capital expenditures for research and development as well as the establishment of production facilities. It necessitates the use of complex gear as well as the inclusion of cutting-edge solid-state battery production technology. It's difficult to develop a solid electrolyte that's stable, chemically inert, and nevertheless a good conductor of ions between both the electrodes of a solid-state battery. When compared to lithium-ion batteries, they are more expensive to manufacture and are more prone to breaking due to the brittleness of the electrolytes when they expand and compress during usage. A solid-state cell now costs around eight times as much to manufacture as a liquid Li-ion battery.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2017, Dec - 2022, Jan) Leading Players

Chapter 4. Global Solid State Battery Market by Type
4.1 Global Single-cell Battery Market by Region
4.2 Global Multi-cell Battery Market by Region

Chapter 5. Global Solid State Battery Market by Capacity
5.1 Global Below 20 mAh Market by Region
5.2 Global Between 20 mAh and 500 mAh Market by Region
5.3 Global Above 500 mAh Market by Region

Chapter 6. Global Solid State Battery Market by Battery Type
6.1 Global Portable Market by Region
6.2 Global Thin Film Market by Region

Chapter 7. Global Solid State Battery Market by Application
7.1 Global Medical Devices Market by Region
7.2 Global Consumer Electronics Market by Region
7.3 Global Energy Harvesting Market by Region
7.4 Global Wireless Sensors Market by Region
7.5 Global Electric Vehicles Market by Region
7.6 Global Others Market by Region

Chapter 8. Global Solid State Battery Market by Region

Chapter 9. Company Profiles
9.1 Robert Bosch GmbH
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent Strategies and Developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.6 SWOT Analysis
9.2 Toyota Motor Corporation
9.2.1 Company Overview
9.2.1 Financial Analysis
9.2.2 Segmental and Regional Analysis
9.2.3 Research & Development Expense
9.2.4 SWOT Analysis
9.3 Ilika plc
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent Strategies and Developments:
9.3.5.1 Partnerships, Collaborations, and Agreements:
9.3.5.2 Geographical Expansions:
9.4 Samsung SDI Co., Ltd. (Samsung Electronics Group)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Recent Strategies and Developments:
9.4.3.1 Partnerships, Collaborations, and Agreements:
9.4.3.2 Product Launches and Product Expansions:
9.5 LG Chem Ltd. (LG Corporation)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent Strategies and Developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.5.2 Acquisitions and Mergers:
9.5.5.3 Geographical Expansions:
9.6 Contemporary Amperex Technology Co., Limited (CATL)
9.6.1 Company Overview
9.6.2 Recent Strategies and Developments:
9.6.2.1 Partnerships, Collaborations, and Agreements:
9.6.2.2 Product Launches and Product Expansions:
9.7 Solid Power, Inc.
9.7.1 Company Overview
9.7.2 Recent Strategies and Developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.7.2.2 Acquisitions and Mergers:
9.7.2.3 Geographical Expansions:
9.8 Cymbet Corporation
9.8.1 Company Overview
9.9 Quantumscape Corporation
9.9.1 Company Overview
9.9.2 Recent Strategies and Developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
9.10. Prieto Battery, Inc.
9.10.1 Company Overview
9.10.2 Recent Strategies and Developments:
9.10.2.1 Partnerships, Collaborations, and Agreements: