June 19, 2024
Boston: “According to the latest BCC Research study, the demand for The global market for solid-state batteries is estimated to increase from $274.0 million in 2023 to reach $1.7 billion by 2029, at a compound annual growth rate (CAGR) of 36.7% from 2024 through 2029.”
The report analyzes the global solid-state battery (SSB) market, focusing on the products, strategies, and initiatives of leading companies. Using 2023 as the base year, it provides market estimates for 2024 and forecasts through 2029, with a focus on battery electric vehicles (BEVs). The market is segmented by type (bulk, thin film), cell type (single-cell, multi-cell), rechargeability (primary, secondary), capacity (below 20 mAh, 20-500 mAh, above 500 mAh), end-use industry (EVs, industrial, medical, consumer electronics, others), and region (North America, Europe, Asia-Pacific, rest of the world). Revenue projections are in constant U.S. dollars, unadjusted for inflation.
The global solid-state battery market is driven by the following factors:
Demand for Higher Battery Energy Densities: As electronic gadgets become more sophisticated and energy-hungry, there is a growing need for batteries with higher energy densities. Solid-state batteries hold the promise of significantly increased energy storage capacity compared to traditional lithium-ion batteries. This rising demand is driven by applications such as smartphones, laptops, wearables, and electric vehicles (EVs), where longer battery life and smaller form factors are crucial.
SSBs Safer than Lithium-Ion Batteries: Safety concerns associated with lithium-ion batteries have led to increased interest in solid-state alternatives. Solid-state batteries use solid electrolytes instead of the flammable liquid electrolytes found in lithium-ion batteries. The absence of flammable components reduces the risk of fire or explosion, making solid-state batteries a safer option for consumer electronics, EVs, and medical devices.
Improved Medical Device Performance and Safety: Medical devices, including implantable devices like pacemakers and insulin pumps, rely on batteries for power. Solid-state batteries offer advantages such as longer lifespan, stable performance, and improved safety. Their non-flammable nature and resistance to leakage make them ideal for medical applications, ensuring reliable operation and patient safety.
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Report Synopsis
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Report Metrics |
Details |
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Base year considered |
2023 |
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Forecast Period considered |
2024-2029 |
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Base year market size |
$274.0 Million |
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Market Size Forecast |
$1.7 Billion |
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Growth rate |
CAGR of 36.7% for the forecast period of 2024-2029 |
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Segment Covered |
Type, Cell Type, Rechargeability, Capacity, End User |
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Regions covered |
North America, Europe, Asia-Pacific, Rest of the World (RoW) |
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Countries covered |
U.S., Canada, U.K., Germany, France, Italy, Norway, Sweden, Spain, Poland, China, India, Japan, South Korea, Australia, New Zealand, Singapore, Thailand, South America, Argentina, Brazil, The Middle East and Africa, UAE, Saudi Arabia, Egypt, South Africa |
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Key Market Drivers |
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Key Interesting Facts About The global market for solid-state batteries:
The global market for solid-state batteries worldwide the report includes in-depth data and analysis addressing the following important queries:
1. What is the market's projected market size and growth rate?
The projected market size in 2029 is $1.7 billion, and the market's CAGR is 36.7% during the forecast period.
2. What are the key factors driving the growth of the market?
3. What segments are covered in the market?
4. By cell type, which segment will dominate the market by the end of 2029?
5. Which region has the highest market share in the market?
Some of the Key Market Players Are:
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Solid State Batteries: Global Markets( FCB053B )
Publish Date: Jun 2024
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