Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Global Solid-State Battery Market by Type (Single-cell, Multi-cell), Capacity (Below 20 mAh, 20-500 mAh, Above 500 mAh), Battery Type (Primary, Secondary), Application (Consumer Electronics, Electric Vehicles, Medical Devices), Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global solid-state battery market is expected to grow from USD 85 million in 2023 to USD 963 million by 2030, at a CAGR of 41.5% from 2023 to 2030. Electric vehicles require batteries that are better than conventional batteries in terms of energy density and safety. This has led to a rise in the demand for solid-state batteries in electric vehicles.
Major players profiled in this report are as follows: Blue Solutions (France), Ilika (UK), Solid Power (US), QuantumScape (US), ProLogium Technology Co., Ltd. (Taiwan), BrightVolt (US), Excellatron (US), Sakuu Corporation (US), Hitachi Zosen Corporation (Japan) and others.
Primary battery segment is projected to grow at significant CAGR during the forecast period
Primary solid-state batteries find applications in smart consumer devices, medical devices such as skin patches, and wireless sensors used in several IoT devices. In addition, there is a growing demand for such batteries owing to the growing trend of the Internet of Things (IoT), 5G telecommunications, and artificial intelligence (AI) across industries such as consumer electronics and healthcare. These applications are expected to drive the demand for primary batteries from 2023 to 2030.
Below 20 mAh capacity segment is projected to grow at an impressive CAGR during the forecast period
Below 20 mAh batteries are designed to deliver relatively low energy output, making them suitable for applications that require minimal power consumption. Solid-state batteries below 20 mAh are tailored explicitly for low-power applications, such as packaging applications like RFID tags and smart labels, smart cards, and medical or cosmetic patches. These devices require compact, low-power batteries that fit within their limited space. The increasing adoption of compact batteries in various applications is expected to drive the growth of the below 20 mAh segment.
Wireless Sensors application is expected to hold a significant market share during the forecast period
Wireless devices such as wireless speakers, mice, keyboards, Bluetooth headsets, wireless handheld devices, wireless sensors, and the Internet of Things (IoT) devices have gained immense popularity over the past decade. These devices have limited internal space; hence, the power source has always been a factor of concern for the manufacturers. The advantage of the solid-state battery is their compact size and high energy density, which makes them easy to integrate into wireless sensors. In addition to this, manufacturers also stack these batteries one over the other to increase the voltage range. As such, the market for wireless sensors is expected to grow significantly.
The market in Europe is expected to grow at a significant CAGR during the forecast period
Major applications of the solid-state battery market in Europe include packaging, consumer electronics, electric vehicles, and medical devices. The packaging industry in Europe is witnessing a shift toward more visibility and intensive data collection for the manufacturers, as well as more hygiene and convenience for the end users. This drives the manufacturers to use displays, RFID tags, and smart labels in their packages, wherein the compact battery is integrated as a power source. The European Commission has extended its support to technologies such as the Internet of Things (IoT) and cloud computing in wireless applications, which demand thin and flexible power sources. These requirements are expected to increase the demand for solid-state batteries in Europe.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 202 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $85 Million |
| Forecasted Market Value (USD) by 2030 | $963 Million |
| Compound Annual Growth Rate | 41.5% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Increasing Research and Development (R&D) by Solid-State Battery Manufacturers
- Rising Demand for Electric Vehicles
- Benefits of Solid-State Batteries Over Traditional Batteries
- Restraints
- High Solid-State Battery Manufacturing Cost
- Opportunities
- Increasing R&D Investments and Partnerships Between Solid-State Battery Manufacturers and Automobile Companies
- Rising Demand for Compact Batteries in Consumer Electronics Industry
- Advancements in Medical Devices Equipped with Solid-State Batteries
- Challenges
- Complex Manufacturing Process of Solid-State Batteries
Pricing Analysis
- Average Selling Price (ASP) Trend of Lithium-Ion Batteries
- Average Selling Price (ASP) Trend of Solid-State Batteries
- Average Selling Price (ASP) Trend, by Region
Technology Analysis
- Lithium-Silicon Batteries
- Zinc-Manganese Batteries
- Sodium-Sulfur Batteries
- Solid-State Batteries
- Metal-Air Batteries
- Liquid-Metal Batteries
- Potassium Metal Batteries
- Vanadium Flow Batteries
Case Study Analysis
- Ilika Partnered with Connect 2 Connect Ltd. (C2C) to Develop Solid-State Battery Production Cleanroom
- IAAPS Ltd. Analyzed Commercial Viability of Solid-State Batteries in Automobile Applications
- Research Team of Georgia Institute of Technology Developed Ceramic Electrolytes to Reduce Battery Cost
- Samsung Electronics Tested Use of Silver-Carbon Composite to Tackle Dendrite Formation in Solid-State Batteries
Companies Profiled
- Ampcera
- Blue Solutions
- Brightvolt
- Excellatron
- Factorial Inc.
- Ganfeng Lithium Group Co., Ltd.
- Hitachi Zosen Corporation
- Ilika
- Ionic Materials, Inc.
- LG Energy Solution
- Lionvolt
- Niterra Co., Ltd.
- Prieto Battery Inc.
- Prologium Technology Co., Ltd.
- Qingtao (Kunshan) Energy Development Co., Ltd.
- Quantumscape
- Sakuu Corporation
- Samsung SDI Co., Ltd.
- SK Innovation Co., Ltd.
- Solid Power
- Storedot
- Toyota Motor Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9d531k
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