Global Solid State Battery Market Expected to Reach $260.52 Million by 2028 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-01-25  

     

As per Business Intelligence Insights (BII) study, the global Global Solid State Battery Market attained revenue growth of USD 49.70 million in 2021 and it is projected to reach around USD 260.52 million by 2028, growing at a 31.80 % CAGR.

Solid state batteries' expanding application scope in the healthcare, electric vehicle, and drone sectors, as well as the incorporation of flexible and lightweight batteries in wearable devices, will exacerbate market value, as will solid state batteries' longer shelf life when compared to conventional batteries. Solid-state batteries have a higher energy density, a solid structure, superior stability, and are safer than lithium-ion batteries. However, they have several drawbacks, including low ionic conductivity, high reactivity, and a high total cost. Different solid-state electrolytes (SSEs) made of various materials can be used to overcome these constraints.

When compared to traditional Li-ion batteries with liquid electrolytes, solid-state batteries are safer, more stable, and have higher energy densities. Consumer electronics, electric vehicles, energy harvesting, medical devices, smart cards, and wireless communication are just a few of the uses. The money produced from the sale of commercialised solid-state batteries was used to examine the global market. In addition, investment from industry behemoths like Apple, Samsung, Volkswagen, and BMW was examined in order to arrive at the figures.

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Global Solid State Battery Market: Companies Mentioned

•  Cymbet Corporation Front Edge
•  Infinite Power Solution, Inc.
•  Seeo Inc. (Robert Bosch GmbH Subsidiary) Saft
•  Eellatron Solid-state
•  Brightvolt, Inc.
•  LG Energy Solution Ltd
•  Solid Power Inc.
•  Pathion Inc.
•  Samsung SDI Co., Ltd.
•  StmicroElectronics N.V.
•  Toyota Motor Corporation
•  Sakti3 Inc. (Dyson Ltd. Subsidiary)
•  Planar Energy Devices, Inc.
•  QuantumEscape
•  Altairnano. 

Key Highlights of the Report

•  Below 20 mAh as a capacity dominated the Solid State Battery market in 2021, accounting for more than 40% of the total. Packaging, wireless sensors, medical and cosmetic patches, and other low-drain devices frequently use thin-film batteries with capacities of less than 20 mAh. Because these low-drain gadgets are compact and have limited internal space, they do not require huge batteries.

•  Consumer electronics, electric vehicles, energy harvesting, medical devices, packaging, wireless sensors, and other applications can all benefit from solid state batteries. In 2021, medical devices are the most common application mode for solid state batteries around the world. The battery in medical devices accounts for more than 25% of the market. Multiple manufacturers currently produce and market solid-state batteries for use in medical devices such as temperature sensors, pacemakers, and smart patches. As a result of technology advancements and the rapid acceptance of IoT in the medical field, high-capacity battery-powered medical devices are now conceivable. Solid-state batteries, with their small size and high flexibility, can meet all of these requirements in novel pacemakers, medicine delivery systems, medical patches, medical diagnosis sensors, disposable medical devices, and biosensors. Medical devices will account for a substantial share of the solid-state battery business as a result of the expanding use of solid-state batteries in medical equipment.

 Europe is likely to increase at the quickest rate during the forecast period. In Europe, the solid-state battery industry's key uses include packaging, consumer electronics, electric vehicles, and medical devices. Next-generation flexible devices are being developed by companies such as Robert Bosch (Germany), Ilika (UK), and Blue Solutions (France). These devices require power sources that are not only tiny but also have a high power density to compliment the product design; thin-film batteries meet these requirements. According to the European Commission, Europe has surpassed China as the biggest market for electric vehicles (International Energy Agency). The United Kingdom, Germany, France, and the rest of Europe are all part of the European solid-state battery market.

•  The report contains qualitative and quantitative research on the global dietary supplement Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights

By Type

•  Single-cell Battery
•  Multi-cell Battery

By Rechargeability

•  Primary Battery
•  Secondary Battery

By Capacity

•  Below 20 mAh,
•  Between 20 mAh and 500 mAh
•  Above 500 mAh

By Application

•  Consumer Electronics
•  Electric Vehicles
•  Energy Harvesting
•  Medical Devices
•  Packaging
•  Wireless Sensors
•  Others

By Region
•  North America
o  U.S.
o  Canada
•  Europe
o  Germany
o  U.K.
o  France
o  Italy
o  Spain
o  Rest of Europe
•  Asia Pacific
o  China
o  India
o  Japan
o  Rest of Asia Pacific
•  Latin America
o  Brazil
o  Mexico
o  Rest of Latin America
•  Middle East and Africa
o  UAE
o  South Africa
o  Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Global Solid State Battery Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

•  What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
•  What is the current trend taking place in the market space?
•  What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
•  What market drivers, restraints, and challenges are influencing market demand and growth?
•  In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Global Solid State Battery Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Global Solid State Battery Market Forecast Report 2022- 2028 - Order Now!

About Us

Business Intelligence Insights is the global provider of market intelligence, consultancy services, and syndicated & customized reports. We are focused on assisting business leaders and suppliers in making decisions by providing timely and insightful market research and consulting services. We offer global, and regional expertise in technology, industry, opportunities, trends, industry analysis, market data, and strategic guidance. Our analysis and insight help business professionals, executives, and investors make fact-based technology decisions and achieve their key business objectives. Our reports are featured distinct research approaches, rigorous methodologies, and comprehensive sector coverage.

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