In a recently published report, Solid-State Battery Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Solid-State Battery Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Solid-State Battery Market is valued approximately at USD 79 million in 2018 and is anticipated to grow with a healthy growth rate of more than 50% over the forecast period 2019-2026. Solid-state batteries are an emerging trend for next-generation traction batteries. These batteries are safer than liquid state batteries and have a higher performance efficiency. It is a high energy and power density battery that has both solid electrodes as well as solid electrolytes. These batteries are easy to miniaturize (thin film) and also restrict the problem of electrolyte leakage. Also, solid state batteries have long shelf lives and do not shows abrupt changes in performance with temperature changes.
Owing to such benefit, the demand for solid state batteries is seeing a rise in demand from the end use industries such as consumer electronics, medical devices, wearables and other. Increasing research and development activities and investments in solid state batteries is a major factor which contributes to the growth of global solid-state battery market. For instance, in 2017, A123 systems Inc. one of the battery manufacturers invested in the company named Solid Power Inc. for solid state battery technology. Also, in 2016, Dyson announced to spend an amount of $1.4 billion (by 2021) for solid state battery development.
Further as per the company source, the US based IONIC materials company on February 2018 has secured about $65 million from leading group of financial and strategic investors. These investors include companies from the battery manufacturing, consumer electronics and electric vehicle ecosystem for the next generation battery technology. This investment is to speed the development of polymer electrolyte for solid state batteries. Major manufacturing companies are working towards large scale commercialization of solid-state batteries, which is expected to further boost the market over the forecast period. However, high setup and installation cost of solid-state battery impedes the growth of the market over the forecast period of 2019-2026.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of global Solid-State Battery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing demand from packaging, smart cards and electric vehicles. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as strong demand from electric vehicles sector, growing consumer electronics sector and wearable devices in the region would create lucrative growth prospects for the Solid State Battery market across Europe region.
Major market player included in this report are:
Cymbet Corporation Inc.
Robert Bosch GmbH
STMicroelectronics N.V.
Toyota Motor Corporation
Sakti3 Inc.
Brightvolt, Inc.
Excellatron Solid State, LLC
Infinite Power Solution, Inc.
Planar Energy Devices, Inc.
Solid Power, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Thin-Film Batteries
Portable Batteries
Other Batteries
By Capacity:
Battery Capacity: Less Than 20 mAh
Battery Capacity: Between 20 mAh and 500 mAh
Battery Capacity: 500 mAh and Above
By Application:
Consumer Electronics
Electric Vehicle
Energy Harvesting
Entertainment
Medical Devices
Packaging
Portable Devices
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Million)
1.2.1. Solid State Battery Market, by Region, 2017-2026 (USD Million)
1.2.2. Solid State Battery Market, by Type, 2017-2026 (USD Million)
1.2.3. Solid State Battery Market, by Capacity, 2017-2026 (USD Million)
1.2.4. Solid State Battery Market, by Application, 2017-2026 (USD Million)
1.2.5.
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Solid-State Battery Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Solid-State Battery Market Dynamics
3.1. Solid State Battery Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Solid-State Battery Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Solid-State Battery Market, by Type
5.1. Market Snapshot
5.2. Global Solid-State Battery Market by Type, Performance – Potential Analysis
5.3. Global Solid-State Battery Market Estimates & Forecasts by Type 2016-2026 (USD Million)
5.4. Solid State Battery Market, Sub Segment Analysis
5.4.1. Thin-Film Batteries
5.4.2. Portable Batteries
5.4.3. Other Batteries
Chapter 6. Global Solid-State Battery Market, by Capacity
6.1. Market Snapshot
6.2. Global Solid-State Battery Market by Capacity, Performance – Potential Analysis
6.3. Global Solid-State Battery Market Estimates & Forecasts by Capacity 2016-2026 (USD Million)
6.4. Solid State Battery Market, Sub Segment Analysis
6.4.1. Battery Capacity: Less Than 20 mAh
6.4.2. Battery Capacity: Between 20 mAh and 500 mAh
6.4.3. Battery Capacity: 500 mAh and Above
Chapter 7. Global Solid-State Battery Market, by Application
7.1. Market Snapshot
7.2. Global Solid-State Battery Market by Application, Performance – Potential Analysis
7.3. Global Solid-State Battery Market Estimates & Forecasts by Application 2016-2026 (USD Million)
7.4. Solid State Battery Market, Sub Segment Analysis
7.4.1. Consumer Electronics
7.4.2. Electric Vehicle
7.4.3. Energy Harvesting
7.4.4. Entertainment
7.4.5. Medical Devices
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Solid State Battery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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