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Solid state battery market is driven by increasing product demand from prominent industries like consumer electronics and automobiles. The rising awareness towards the acceptance of renewable energies like solar power will also foster solid state battery industry growth. Global Market Insights, Inc. estimates solid state Batteries market size to exceed USD 2 Billion by 2025.2018 Market Size – USD 100 Million
Compound annual Growth Rate (CAGR)- 40%
2025 Forecast Value – USD 2 Billion
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Driven by the increasing demand for a high capacity power storage technology, solid state battery market size has been witnessing exponential growth. The drawbacks associated with existing lithium-ion battery technology such as flammability and limited energy density have generated new opportunities for solid state battery industry players. Ongoing technological advancements to revamp the existing power storage technologies will positively influence solid state battery industry landscape.
• Pages: 160
• Tables: 174
• Charts / Figures: 24
• Companies covered: 15
• Countries covered: 18
Emergence of solid state batteries is expected to solve many known issues of lithium-ion battery. The ability of solid state battery store twice as much energy as a lithium-ion battery of same size will augment its popularity. Solid state battery possess remarkable properties comprising quick charge time, high energy density, and improved safety which will place it on top priorities for use in plethora of battery powered applications. Considering these factors, solid state battery is expected to completely replace the lithium ion batteries in most of the devices, thus propelling product demand in the upcoming years.
Currently the masses are becoming more inclined towards battery powered portable devices like smartphones, tabs, laptops, wireless headphones, and many more that can be added to the list. Solid state battery has a huge potential for providing enhanced safety owing to the presence of solid electrolyte which may boost product adoption in portable handheld devices. Reportedly, Consumer electronics application is anticipated to grow at a rate of more than 30% over 2019- 2025, owing the rise in high disposable incomes and growing interest towards smart portable devices. This may lead to massive investments towards consumer electronics, thus fostering solid state battery market share over the forecast duration.
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Additionally, the wide acceptance of sustainable energy sources, such as solar cells will generate immense demand for power storage solutions which is expected to boost solid state battery market outlook. Owing the longer service life, short recharge times, and enhanced energy storage capacity the introduction of solid state battery to store the renewable energies will stimulate the industry outlook.
Government initiatives to subsidize clean energy technologies will motivate more adoption of sustainable power sources, further propelling the product demand. For instance, according to the Ministry of New and Renewable Energy, Indian Central Government pays 30% of the installation cost of rooftop PV systems. Such initiatives will encourage more people to exploit solar energy and reduce the electricity cost, creating more awareness towards using the renewables.
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Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
• Cymbet
• Ilika
• BrightVolt
• Front Edge
• Altair
• Hitachi Zosen
• 24M
• Solid Power
• Excellatron
• Prieto Battery
The enhanced energy storage capacity and quick charge capability of the solid state battery will make it an optimal choice for electric auto manufacturers. Also, the other influencing factors including lower weight and increased safety will create high product demand, further supporting solid state battery market trends. Stringent government regulations to control carbon emissions and the declining cost of electric vehicles will complement the industry outlook.
Partial Table of Contents (ToC) of the report:
Chapter 4 Solid State Battery Market, By Product
4.1 Solid state battery market share by product, 2018 & 2025
4.2 Thin film
4.2.1 Global market from thin film, 2014 - 2025
4.2.2 Global market from thin film, by region, 2014 – 2025
4.3 Bulk storage
4.3.1 Global market from bulk storage, 2014 - 2025
4.3.2 Global market from bulk storage, by region, 2014 – 2025
4.4 Others
4.4.1 Global market from others, 2014 - 2025
4.4.2 Global market from others, by region, 2014 – 2025
Chapter 5 Solid State Battery Market, By Application
5.1 Solid state battery market share by application, 2018 & 2025
5.2 Industrial
5.2.1 Global market from industrial, 2014 - 2025
5.2.2 Global market from industrial, by region, 2014 – 2025
5.3 Automotive
5.3.1 Global market from automotive, 2014 - 2025
5.3.2 Global market from automotive, by region, 2014 – 2025
5.4 Consumer electronics
5.4.1 Global market from consumer electronics, 2014 - 2025
5.4.2 Global market from consumer electronics, by region, 2014 – 2025
5.5 Energy storage
5.5.1 Global market from energy storage, 2014 - 2025
5.5.2 Global market from energy storage, by region, 2014 – 2025
5.6 Others
5.6.1 Global market from others, 2014 - 2025
5.6.2 Global market from others, by region, 2014 – 2025
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/solid-state-battery-market
Related Report
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https://www.reuters.com/brandfeatures/venture-capital/article?id=122234
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/solid-state-batteries-market
Release ID: 88901684
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