Driven by the rising demand for solid-state batteries due to their high energy density for various applications along with increased research and development activities for solid-state batteries, the Global Solid-state Battery Market is Forecasted to reach nearly US$ 3,000 Mn by 2028 says Ken Research Study.
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.
Ken Research shares 3 key insights on this high-demand market from its latest research study.
1. High Energy Density of Solid-state Batteries Encourage Market Growth
The increase in research and development for the solid-state battery to improve their efficiency is boosting the growth of the solid-state battery market in the forecasted period. The solid-state battery offers high performance, has a longer life, cheaper battery costs, and other is increasing its adoption in various sectors is anticipated to propel the growth of the market. However, the high manufacturing cost of solid-state batteries may hamper the growth of the market.
According to Ken Research estimates, the Global Solid-state Battery Market – valued at around US$ 200 Mn in 2017 and estimated to reach nearly US$ 700 Mn by 2022 – is expected to grow to around US$ 3,000 Mn opportunity by 2028.
2. Increasing Adoption of Solid-state Battery in Electric Vehicle is Driving the Market Growth
The rising demand for the solid-state battery for electric vehicles is anticipated to aid the growth of the market. Moreover, the high investment in research and development of solid-state batteries along with the increasing partnership between battery manufacturers and automobile companies is expected to bolster the growth of the global solid-state battery market.
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The below graph depicts the increase in electric vehicle registration in China.
3. Difficulty in the Manufacturing Process of Solid-state Battery Is the Most Significant Barrier to the Growth of the Market.
The difficulty in the manufacturing process of solid-state batteries, as well as the requirement of high investment for R&D and manufacturing of solid-state batteries, may hamper the growth of the market. In addition, the availability of other substitutes at cheaper cost such as graphene batteries, fluoride batteries, sand batteries, ammonia-powered batteries, and lithium-sulfur batteries may restrict the growth of the market.
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 MOTOR CORPORATION
Robert Bosch GmbH
Solid Power Inc.
Excellatron
BrightVolt Inc.
SK Innovation Co. Ltd
STMicroelectronics
Total Energies
StoreDot
Notable Emerging Companies Mentioned in the Report
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
For more insights on the market intelligence, refer to the link below: –
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