GLOBAL SOLID STATE BATTERY MARKET FORECAST 2019-2027

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GLOBAL SOLID STATE BATTERY MARKET FORECAST 2019-2027

Solid-state battery refers to the battery technology that employs both solid electrolytes and solid electrodes, rather than using the polymer or liquid electrolytes that are found in lithium polymer or lithium-ion batteries. Solid-state battery technology is considered to be an alternative to the Li-ion battery technology. Global solid-state battery market is expected to grow at 66.32% CAGR during the forecast period 2019-2027. However, global solid-state battery market is primarily driven by rising investment activities along with research and development in the field of solid-state batteries. Companies in solid state batteries are investing huge capital in research activities to develop new and advanced batteries with less charging time, compact size and with more efficiency.

GLOBAL SOLID STATE BATTERY MARKET FORECAST 2019-2027

Global Solid State Battery Market Is Segmented by Battery Type(Thin-film Batteries, Bulk Batteries, Other Batteries) by Battery Capacity(Less Than 20 Mah, Between 20 Mah & 500 Mah, 500 Mah Above) by Application (Consumer Electronic, Electric Vehicle, Energy Harvesting, Medical Devices, Wearable Devices, Other Applications) & by Geography

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Solid-state battery refers to the battery technology that employs both solid electrolytes and solid electrodes, rather than using the polymer or liquid electrolytes that are found in lithium polymer or lithium-ion batteries. Solid-state battery technology is considered to be an alternative to the Li-ion battery technology.

Global solid-state battery market is expected to grow at 66.32% CAGR during the forecast period 2019-2027. The base year considered for the market study is 2018 and the estimated period is between 2019 and 2027.

Several factors that are liable for the advancement of the market are:

  • Benefits offered by solid-state batteries over the liquid cell batteries
  • Surge in the investments to aid in market development
  • Ongoing trend of product miniaturizing
  • Positive outlook of the electric vehicle market
  • Growing number of startups

 Solid State Battery Market

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However, global solid-state battery market is primarily driven by rising investment activities along with research and development in the field of solid-state batteries. Companies in solid state batteries are investing huge capital in research activities to develop new and advanced batteries with less charging time, compact size and with more efficiency. For instance, in 2016, as per company sources, Dyson made an investment of $XX billion for development in solid-state battery technology. Furthermore, increasing adoption of electric vehicles is expected to propel the demand of solid state battery globally. As per the International Renewable Energy Agency Organization, the global stock of electric vehicles reached XX million units in 2016 from XX million units during 2015.

In terms of application segment, consumer electronics sub-segment leads the application segment of the global solid-state battery market by capturing the largest market share of over XX% in 2018 with estimated revenue of approximately $XX million. The growing interest of the giant consumer electronics companies including Apple, Samsung, LG-Chem, etc. towards solid-state batteries act as a major driver for the growth of the consumer electronics segment. For instance, Samsung is planning to replace lithium-ion batteries with solid-state batteries in its phones by 2019, as per company sources. Furthermore, cordless vacuum cleaner manufacturer, Dyson has acquired solid-state battery manufacturing company Sakti3 in 2015. This acquisition is expected to result in the deployment of solid-state batteries in the company’s novel vacuum cleaners. Thus, increasing adoption of solid-state batteries in consumer electronics is expected to supplement the market growth during the forecast period.

Though the market is advancing at a promising pace, there are still several factors that are profoundly restraining the market growth. Market growth is restricted by high setup and installation cost of solid-state batteries along with complexities in the manufacturing process of the solid-state battery. Solid-state battery manufacturing is a very complex and challenging process. According to the American Chemical Society (ACS), poor conductance of solid electrolyte acts as a major factor that presents complexities during battery manufacturing. Moreover, solid-state batteries are costly as compared to lithium-ion batteries. Thus, manufacturing cost-effective solid-state battery is one of the challenges for the solid-state battery market. Also, the easy availability of conventional rechargeable batteries acts as another challenge.

Global solid-state battery market is segmented on the basis of battery type, battery capacity and application.

Market by Battery Type:

  • Thin-film batteries
  • Bulk batteries
  • Other batteries

Market by Battery Capacity:

  • Less than 20 mAh
  • Between 20 mAh & 500 mAh
  • 500 mAh above

Market by Application:

  • Consumer electronic
  • Electric vehicle
  • Energy harvesting
  • Medical devices
  • Wearable devices
  • Other applications

Total market revenue has been calculated by net adoption of solid state batteries and revenue deployed for research and development in next-generation solid-state batteries of higher capacity.

On the basis of geography, global solid-state battery market has been segmented into four major regions:

Geographically, North America solid-state battery market is dominating as it captured the largest market share concerning revenue of approximately XX% and will acquire roughly $XX million in 2018. Rising adoption of electric vehicles coupled with rising research & development activities related to the solid-state battery are some of the requirements that are essentially propelling the demand for solid-state batteries in the region. For instance, as per company sources, A123 Systems invested an undisclosed amount of capital into Solid Power Inc., for development of solid-state battery technology.

Moreover, as per International Energy Agency (IEA), total electric vehicle sales in the United States stood at XX thousand units in 2016, increasing from a level of XX thousand in 2014. On the flip side, Europe is anticipated to be the fastest evolving regional market. The Europe solid-state battery market will be on the up-surging trend owing to government investments on solid-state batteries. Universities and various research groups are making efforts to promote the researches on solid-state batteries. Also, rising sales of electric vehicles and the innumerable strategies that are adopted by companies to adopt solid-state batteries are going to influence the improvement of the solid-state battery market in Europe during the forecast period.

Global solid-state battery market is segmented on the basis of battery type, battery capacity and application. Type segment is further sub-segmented into thin-film batteries, bulk batteries & other type of batteries. Battery capacity segment is further segmented into, less than 20mAh, 20 mAh to 500 mAh, 500 mAh and above. Furthermore, application segment is further segmented into consumer electronics, electric vehicle, energy harvesting, medical devices, wearable devices and other applications.

The key companies operating in the global solid state battery market are:

  • Excellatron Solid State LLC
  • Solid Power Inc.
  • Dyson
  • Cymbet Corporation
  • Toyota Industries Corporation
  • And other companies

Company profiles of the prominent market players are discussed elaborately in the report. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, to gain a competitive edge over other companies. For instance, In April 2018, Imec introduced an innovative type of solid-state Li-ion battery with an energy density of 200 Wh/liter at a charging speed of 0.5C (2 hours). In December 2017, Solid Power Inc. signed a partnership agreement with BMW Group to develop solid-state EV batteries required for the electrification of automotive transport.

Key findings of the global solid-state battery market:

  • North America accounts for the largest market share of overall solid state battery market in 2018
  • Increasing R&D activities and investments in solid-state batteries is a major factor which contributes to the growth of global solid-state battery market during the forecast period
  • Usage of solid-state of batteries in military and defense sector is expected to propel over the forecast period
  • High usage of solid-state batteries in wearable devices is expected to offer lucrative growth opportunity for the global solid-state battery market

 

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • NORTH AMERICA LEADS THE OVERALL MARKET
      • ELECTRIC VEHICLE SEGMENT TO GROW AT THE FASTEST RATE
      • THIN FILM BATTERY LEADS THE BATTERY TYPE SEGMENT
      • BULK BATTERY IS ANTICIPATED TO BE THE DYNAMICALLY EVOLVING BATTERY TYPE
      • GROWING NUMBER OF START-UPS
  1. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: BATTERY MARKET
    • ETYMOLOGY OF SOLID STATE BATTERY
    • MARKET DEFINITION & SCOPE
    • MARKET DRIVERS
      • BENEFITS OFFERED BY SOLID-STATE BATTERIES OVER THE LIQUID STATE BATTERIES
      • SURGE IN THE INVESTMENTS TO AID IN MARKET DEVELOPMENT
      • ONGOING TREND OF PRODUCT MINIATURIZING
      • POSITIVE OUTLOOK OF ELECTRIC VEHICLE MARKET
    • MARKET RESTRAINTS
      • HIGH COSTS ASSOCIATED WITH SOLID STATE BATTERY
      • DIFFICULTIES IN MANUFACTURING
    • MARKET OPPORTUNITIES
      • RISING DEMAND FROM MILITARY & DEFENCE INDUSTRY
      • WEARABLE DEVICES TO OFFER LUCRATIVE OPPORTUNITIES
    • MARKET CHALLENGES
      • MANUFACTURING COST-EFFECTIVE SOLID-STATE BATTERY
      • EASY AVAILABILITY OF CONVENTIONAL RECHARGEABLE BATTERIES
  1. MARKET BY BATTERY TYPE
    • THIN-FILM BATTERIES
    • BULK BATTERIES
    • OTHER BATTERIES
  2. MARKET BY BATTERY CAPACITY
    • LESS THAN 20 MAH
    • BETWEEN 20 MAH & 500 MAH
    • 500 MAH ABOVE
  3. MARKET BY APPLICATION
    • CONSUMER ELECTRONICS
    • ELECTRIC VEHICLE
    • ENERGY HARVESTING
    • MEDICAL DEVICES
    • WEARABLE DEVICES
    • OTHER APPLICATIONS
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • KEY BUYING CRITERIA
      • COST
      • SAFETY
      • ENERGY DENSITY
      • LIFESPAN
      • APPLICATION
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
      • RAW MATERIAL SUPPLIERS
      • MANUFACTURERS
      • DISTRIBUTOR/RETAILERS
      • END USERS/CONSUMERS
    • LEGAL, POLICY & REGULATORY FRAMEWORK
    • INVESTMENT ANALYSIS
      • BY REGION
      • BY TYPE
      • BY APPLICATION
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • KEY COMPANY ANALYSIS
    • CORPORATE STRATEGIES
      • PARTNERSHIP & COLLABORATION
      • MERGER & ACQUISITION
      • PRODUCT LAUNCH
      • OTHER KEY STRATEGIES
    • COMPANY PROFILES
      • BRIGHTVOLT, INC.
      • CYMBET CORPORATION
      • DYSON
      • EXCELLATRON SOLID STATE, LLC
      • FRONT EDGE TECHNOLOGY INC.
      • HITACHI ZOSEN CORPORATION
      • IMEC
      • INFINITE POWER SOLUTIONS, INC. (ACQUIRED BY APPLE INC.)
      • PANASONIC CORPORATION
      • PLANAR ENERGY DEVICES, INC.
      • PRIETO BATTERY
      • ROBERT BOSCH GMBH
      • SOLID POWER INC.
      • STMICROELECTRONICS N.V.
      • TOYOTA MOTOR CORPORATION

TABLE LIST

TABLE 1. GLOBAL SOLID STATE BATTERY MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2. START-UP ORGANIZATIONS ENGAGED IN SOLID STATE BATTERY MARKET

TABLE 3. COMPARISON BETWEEN LIQUID CELL BATTERY & SOLID STATE BATTERY

TABLE 4. PERFORMANCE CHARACTERISTICS AND DIMENSIONS OF SOLID-STATE, THIN FILM BATTERY

TABLE 5. WORLDWIDE SALES OF ELECTRIC VEHICLES IN 2017 (MONTH-WISE SALES)

TABLE 6. COUNTRY-WISE STOCK TARGETS OF ELECTRIC VEHICLE TILL 2020

TABLE 7. GLOBAL SOLID STATE BATTERY MARKET, BY BATTERY TYPE, 2019-2027, (IN $ MILLION)

TABLE 8. GLOBAL THIN-FILM BATTERIES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9. GLOBAL BULK BATTERIES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10. GLOBAL OTHER BATTERIES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11. GLOBAL SOLID STATE BATTERY MARKET, BY BATTERY CAPACITY, 2019-2027, (IN $ MILLION)

TABLE 12. GLOBAL LESS THAN 20 MAH MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13. GLOBAL BETWEEN 20 MAH & 500 MAH MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14. GLOBAL 500 MAH ABOVE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15. GLOBAL SOLID STATE BATTERY MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 16. GLOBAL CONSUMER ELECTRONICS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17. GLOBAL ELECTRIC VEHICLE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18. GLOBAL ENERGY HARVESTING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19. GLOBAL MEDICAL DEVICES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20. GLOBAL WEARABLE DEVICES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21. GLOBAL OTHER APPLICATIONS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22. OPPORTUNITY MATRIX FOR SOLID STATE BATTERY MARKET

TABLE 23. VENDOR LANDSCAPE OF SOLID STATE BATTERY MARKET

TABLE 24. LEGAL, POLICY & REGULATORY FRAMEWORK

TABLE 25. GLOBAL SOLID STATE BATTERY MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 26. NORTH AMERICA SOLID STATE BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 27. EUROPE SOLID STATE BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 28. ASIA PACIFIC SOLID STATE BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29. REST OF WORLD SOLID STATE BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 30. LIST OF PARTNERSHIP & COLLABORATION

TABLE 31. LIST OF MERGERS & ACQUISITIONS

TABLE 32. LIST OF PRODUCT LAUNCHES

TABLE 33. LIST OF OTHER KEY STRATEGIES

 

FIGURE LIST

FIGURE 1. GLOBAL SOLID STATE BATTERY MARKET, BY APPLICATION, 2018 & 2027 (IN %)

FIGURE 2. NORTH AMERICA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 3. WORLDWIDE BATTERY MARKET, 2015-2024 (IN $ BILLIONS)

FIGURE 4. TIMELINE OF SOLID STATE BATTERY

FIGURE 5. WORLDWIDE SALES OF LIGHT DUTY ELECTRIC VEHICLES, 2015-2024 (IN MILLION UNITS)

FIGURE 6. GLOBAL SOLID STATE BATTERY MARKET, BY THIN-FILM BATTERIES, 2019-2027 (IN $ MILLION)

FIGURE 7. GLOBAL SOLID STATE BATTERY MARKET, BY BULK BATTERIES, 2019-2027 (IN $ MILLION)

FIGURE 8. GLOBAL SOLID STATE BATTERY MARKET, BY OTHER BATTERIES, 2019-2027 (IN $ MILLION)

FIGURE 9. GLOBAL SOLID STATE BATTERY MARKET, BY LESS THAN 20 MAH, 2019-2027 (IN $ MILLION)

FIGURE 10. GLOBAL SOLID STATE BATTERY MARKET, BY BETWEEN 20 MAH & 500 MAH, 2019-2027 (IN $ MILLION)

FIGURE 11. GLOBAL SOLID STATE BATTERY MARKET, BY 500 MAH ABOVE, 2019-2027 (IN $ MILLION)

FIGURE 12. GLOBAL SOLID STATE BATTERY MARKET, BY CONSUMER ELECTRONICS, 2019-2027 (IN $ MILLION)

FIGURE 13. GLOBAL SOLID STATE BATTERY MARKET, BY ELECTRIC VEHICLE, 2019-2027 (IN $ MILLION)

FIGURE 14. GLOBAL SOLID STATE BATTERY MARKET, BY ENERGY HARVESTING, 2019-2027 (IN $ MILLION)

FIGURE 15. GLOBAL SOLID STATE BATTERY MARKET, BY MEDICAL DEVICES, 2019-2027 (IN $ MILLION)

FIGURE 16. GLOBAL SOLID STATE BATTERY MARKET, BY WEARABLE DEVICES, 2019-2027 (IN $ MILLION)

FIGURE 17. GLOBAL SOLID STATE BATTERY MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ MILLION)

FIGURE 18. PORTER’S FIVE FORCE ANALYSIS

FIGURE 19. KEY BUYING IMPACT ANALYSIS

FIGURE 20. VALUE CHAIN OF SOLID STATE BATTERY MARKET

FIGURE 21. INVESTMENT ANALYSIS OF SOLID STATE BATTERY MARKET, BY REGION, IN 2018

FIGURE 22. INVESTMENT ANALYSIS OF SOLID STATE BATTERY MARKET, BY BATTERY TYPE, IN 2018

FIGURE 23. INVESTMENT ANALYSIS OF SOLID STATE BATTERY MARKET, BY APPLICATION, IN 2018

FIGURE 24. GLOBAL SOLID STATE BATTERY MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 25. UNITED STATES SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26. CANADA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27. UNITED KINGDOM SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28. GERMANY SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29. FRANCE SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30. SPAIN SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31. REST OF EUROPE SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32. CHINA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33. JAPAN SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34. INDIA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35. AUSTRALIA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36. REST OF ASIA PACIFIC SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37. LATIN AMERICA SOLID STATE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38. MIDDLE EAST AND AFRICA SOLID STATE BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

FIGURE 39. MARKET SHARE ANALYSIS OF KEY PLAYERS IN 2018 (IN %)

  1. MARKET BY BATTERY TYPE
    • THIN-FILM BATTERIES
    • BULK BATTERIES
    • OTHER BATTERIES
  2. MARKET BY BATTERY CAPACITY
    • LESS THAN 20 MAH
    • BETWEEN 20 MAH & 500 MAH
    • 500 MAH ABOVE
  3. MARKET BY APPLICATION
    • CONSUMER ELECTRONICS
    • ELECTRIC VEHICLE
    • ENERGY HARVESTING
    • MEDICAL DEVICES
    • WEARABLE DEVICES
    • OTHER APPLICATIONS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA

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