Solid-state Battery Market Overview: 2023-28
Base Year: 2022
Historical Years: 2018-21
Forecast Years: 2023-28
The Solid-state Battery Market Share is anticipated to grow at a CAGR of around 37.10% during the forecast period 2023-28. The market growth imputes to the increasing requirement for electronic vehicles globally, boosting the demand for these batteries. The electronic vehicle industry is booming globally due to expanded environmental awareness, government support to achieve net zero emissions, and rising public charging stations. These batteries are considered the best option for most electric vehicles due to their stability than lithium-ion batteries because they don’t rely on liquid electrolytes to conduct electricity. They also offer very high energy density than other batteries, which would improve the mileage of electronic vehicles & the need to charge them frequently would also decrease.
Markntel Advisor’s Solid-state Battery Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Solid-state Battery Market drivers, barriers, Solid-state Battery Market Trends, and Key Players in Solid-state Battery Market.
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Solid-state Battery Market Dynamics: 2023-28
Increasing Miniaturization of Implantable Medical Devices – The implantable medical device industry has a growing need for miniaturized, long-life power sources to enable wireless data transfer from increasingly sophisticated devices that improves patients’ lives. Due to this, the medical device industry is actively adopting these batteries to supply a self-sustaining power source that does not need to be changed regularly or use inconvenient cabling. Solid-state batteries also offer longer life spans of up to 10 years (up to 5x longer) & lower leakage currents (10x smaller), making them suitable for low-power wireless charging.
In addition, they can be seamlessly integrated with other electronic components, enabling the final medical device to maintain a compact form. However, the Implantable Medical Device industry is witnessing a rising demand for these batteries to provide miniature, long-lasting power sources, facilitating wireless data transfer from advanced devices. Therefore, due to the rising demand in medical devices, battery manufacturers are focused on producing these batteries for medical devices. For instance, in 2019, the battery maker Ilika introduced mm-scale solid-state batteries designed for use in medical devices. Hence, the growing need for miniaturized, long-life power sources in the implantable medical devices industry would escalate the demand for these batteries in the upcoming years.
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Solid-state Battery Market (2023-28): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- Thin-Film Solid State Battery
- Portable Solid State Battery
According to report, The Thin-film Solid-state battery segment is expected to hold a major market share in the forecast years.
- By Application
- Consumer Electronics
- Electronic Vehicles
- Medical Devices
- Wearables
- Energy Harvest
- Others(Aerospace, RFIDs, etc.)
According to report, Here, the Consumer Electronic application is expected to account for the potential share of the market.
- By Storage Capacity
- Up to 20mAh
- 1mAh-500mAh
- Above 500mAh
- By Region
- North America
- South America
- Europe Middle East and Africa
- Asia-Pacific
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Solid-state Battery Market:
- Cymbet Corporation
- Samsung SDI
- Hitachi Zosen Corporation
- Ionic Material
- QuantumScape
- Ilika Plc.
- Blue Solutions
- Brightvolt
- Prieto Battery
- Ganfeng Lithium Group Co., Ltd.
- Storedot
- Solid Power
- ProLogium Technology
- Natrion
- Sakuu
- Others
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