Pune, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research a leading Automotive and Transportation research firm has published a market intelligence report on the Global EV SOLID State Battery Market. As per the report, the total market opportunity by 2029 is expected to be USD 1479.07 Mn. The total market was valued at USD 115.2 Mn. in 2022 and it is expected to grow at a CAGR of 44 percent during the forecast period.
| Market Size in 2022 | USD 115.2 Mn. |
| Market Size in 2029 | USD 1479.07 Mn. |
| CAGR | 44 % (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 285 |
| No. of Tables | 118 |
| No. of Charts and Figures | 116 |
| Segment Covered | Type, Propulsion and Vehicle Class |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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EV SOLID State Battery Market Report Scope and Research Methodology
The research methodology includes extensive data collection from primary and secondary sources, in-depth interviews with industry experts, and rigorous quantitative analysis. The report provides insights into market size, growth projections, competitive landscape, and key player’s strategies. It encompasses a thorough examination of market trends, drivers, challenges, and opportunities. The Global EV Solid State Battery Market Report offers a comprehensive analysis of the electric vehicle (EV) solid-state battery industry. It also covers regional and segment-specific analysis to offer a holistic view of the market. This report serves as a valuable resource for stakeholders looking to make informed decisions in the evolving EV solid-state battery market.
EV SOLID State Battery Market Overview
An electric vehicle runs on electricity and an EV solid-state battery is a rechargeable energy storage system whereas other vehicles run on fuel. Instead of using internal combustion engines cars run on electric motors that need a constant supply of power from a battery to operate. Many technological advancements increased its popularity. Electric vehicles are designed mainly to replace conventional methods of transportation because they increase the pollution of the environment.
EV SOLID State Battery Market Dynamics
The demand for EVs has witnessed an increase over the past years. Many electric car manufacturing companies have seen a fall in sales as customers demand more power in their cars which was easily available in the cars with combustion engines. The global use of renewable energy has increased by 1.7% in the year 2022. Using renewable energies helps more economies find ways to use energy efficiently and store this energy to use in the future. Increase in fuel price are the main concerns for growth over the running cost of petrol and diesel vehicles the electric vehicles market has quietly started to build up. With the improved new technologies in the EV market, the sales have been affected positively for the EV SOLID State Battery Market.
EV SOLID State Battery Market Regional Insights
The Asia Pacific region dominated the market and is expected to witness significant growth at a CAGR of 44% through the forecast period. With various government standards in Asian countries like India, China, and Japan the Asian Pacific region will see positive changes in the EV solid-state battery market. The population plays an important factor in growing the market and countries such as India and China, joined with favorable government regulations, are also contributing to the growth of the market in the region.
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EV SOLID State Battery Market Segmentation
By Type
- 2-Wheeler
- Passenger car
- Commercial Vehicle
The 2-wheeler segment dominated the market in the year 2022 and increased its market share with increased sales compared to passenger cars and commercial vehicles. The 48% of the market share is only for 2-wheeler EVs and is a dominant key player in this segment, with new technology upcoming the use of solid-state batteries has increased and will drive the market. The company named Gogoro has come with the first-ever solid-state battery, with the 2-wheeler EV market seeing a drastic positive impact. Hence, these are the factors that increase the demand for the 2-wheeler segment in the EV SOLID State Battery Market.
By Propulsion
- plug-in hybrid EV
- battery electric vehicles,
- fuel cell electric vehicles
By Vehicle Class
- Mid-Range EV
- Luxury EV
The sales of a mid-ranged electric vehicle are seen more compared to the luxury electric cars. The mid-range EV segment is expected to remain the dominant segment. Since the customer base is big for the mid-ranged EV this affects the market size for the EV solid-state battery market. The luxury EV segment is also expected to increase as are often equipped with more advanced features and technologies, such as solid-state batteries as are often equipped with more advanced features and technologies, such as solid-state batteries and hence there is higher demand for these vehicles.
EV SOLID State Battery Market Key Competitors include:
- Toyota Motors (Japan)
- Tesla Motors (U.S.)
- Quantumscape (U.S.)
- General Motors (U.S.)
- Cymbet (U.S.)
- Ford Motors (U.S.)
- Solid Power (U.S.)
- Morison Garage Group (U.K.)
- Ilika (U.K.)
- Volkswagen Ag (Germany)
- Mercedes (Germany)
- Porsche (Germany)
- Renault Group (France)
- st microelectronics (Switzerland)
- Northvolt AB (Sweden)
- Nissan motors (Japan)
- Mitsubishi Motors (Japan)
- Honda corp (Japan)
- Okinawa Ltd (Japan)
- Panasonic Corporation (Japan)
- TDK Corporation (Japan)
- Contemporary Amperex Technology Co. (China)
- Kia Motors (South Korea)
- Samsung SDI Co. Ltd (South Korea)
- LG Chem (South Korea)
- Hyundai Group (South Korea)
- OLA (India)
- Ather energy (India)
- Tata Motors (India)
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Key questions answered in the Global EV SOLID State Battery Market are:
- What is the expected CAGR of the Global EV SOLID State Battery Market during the forecast period?
- What was the Global EV SOLID State Battery Market Size in 2022?
- What is the expected Global EV SOLID State Battery Market size in 2029?
- What are the global trends in the Global EV SOLID State Battery Market?
- What are the upcoming industry applications and trends for the Global EV SOLID State Battery Market?
- What recent industry trends can be implemented to generate additional revenue streams for the Global EV SOLID State Battery Market?
- What growth strategies are the players considering to increase their presence in the Global EV SOLID State Battery Market?
- What major challenges could the Global EV SOLID State Battery Market face in the future?
- Who held the largest market share in the Global EV SOLID State Battery Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type of Electronic Waste, Source of Generation, Collection Methods, Recycling Processes, End-Use Industries, Channel of Disposal, and Stakeholders.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Solid State Car Battery Market- The market size is expected to reach USD 9.40 Billion by 2029 at a CAGR of 36 percent during the forecast period. The Asia Pacific will be the largest market, with 51.2 % of the global solid-state battery market. The rapid expansion in countries such as China, India, Japan, and South Korea is likely to boost demand for solid-state batteries.
Solid State and Polymer Battery Market- The market size is expected to reach USD 9.18 Billion by 2029 at a CAGR of 31.54 percent during the forecast period. Asia Pacific held the largest market share in 2022 and is expected to maintain its dominance.
Metal-air Battery Market- The market size is expected to reach USD 1121 Million by 2029 at a CAGR of 13.4 percent during the forecast period. Asia Pacific holds the highest market share in the metal-air battery market due to various regional factors and government initiatives.
Marine Battery Market- The market size is expected to reach USD 1783 Million by 2029 at a CAGR of 18.3 percent during the forecast period. The North American region dominates the marine battery market and includes the United States, Canada, and Mexico. This region held a market share of approximately 31% in 2022.
Sodium Ion Battery Market- The market size is expected to reach USD 24.10 Billion by 2029 at a CAGR of 11.11 percent during the forecast period. The Europe region dominated the market in the year 2022 with a 39 % share.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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