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The Lithium Solid-State Battery Market size is forecast to increase by USD 398.26.thousand, at a CAGR of 42% between 2023 and 2028. The market is witnessing significant growth due to the launch of these batteries by market companies, as they offer several advantages over traditional lithium-ion batteries, including higher energy density, longer cycle life, and improved safety. Furthermore, the growing requirement for long-range electric vehicles (EVs) is driving the demand for solid-state batteries, as they can provide greater range and faster charging times. However, the lack of EV charging infrastructure poses a challenge to the market growth, as widespread adoption of EVs relies on the availability of convenient and efficient charging solutions. Despite this, the market is expected to continue expanding, with innovations in battery technology and increasing investment in research and development expected to drive growth.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The polyethylene-oxide segment is estimated to witness significant growth during the forecast period. The market is experiencing notable progress, with polyethylene oxide (PEO)-based materials gaining prominence. PEO is a potential polymer host for solid-state electrolytes, essential for high-energy-density rechargeable lithium batteries. This segment offers several advantages, making PEO a preferred choice. PEO-based materials boast a superior safety profile, a critical consideration in battery technology. Their ease of fabrication simplifies manufacturing processes, enhancing production capabilities. In the context of the global market, this segment is poised to revolutionize various sectors, including electric vehicles, consumer electronics, and renewable energy (renewable energy market) Solid electrolytes derived from PEO offer longer battery (battery market) life, increased energy storage capacity, and faster charging times. These benefits are particularly valuable in the transportation sector, where extended range and reduced carbon emissions are essential.
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The polyethylene-oxide segment was the largest and was valued at USD 15,326.70 in 2018. Moreover, PEO-based batteries are suitable for clean energy applications, flexible and lightweight devices, and wearable (wearable technology market) Government funding and venture capital investments, along with regulatory support and technological expertise, are driving the growth of the lithium solid-state battery market. The market's evolution is further influenced by the development of pilot production lines and advancements in high-performance batteries, such as thin-film batteries, silicon anode batteries, and lithium polymer batteries. Regulatory criteria, electrolyte type, battery type, and charging times are crucial factors influencing the market's trajectory. The adoption of lithium solid-state batteries is expected to increase, as they offer environmentally friendly options and improved safety features. Supply chain efficiencies and shelf life are also essential considerations, as the market continues to evolve and mature.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is experiencing significant growth due to the increasing demand for high-capacity batteries in various applications, particularly in medical devices and smart gadgets. Urbanization and the expansion of emerging countries are driving this demand, as more people gain access to technology and require reliable power sources. Thin film batteries, a type of solid-state battery, are gaining popularity due to their high energy density and long cycle life. These batteries offer a potential solution to the challenges of powering the next generation of devices, from portable medical equipment to advanced wearables. The market is expected to continue its upward trajectory, as innovation in battery technology drives new applications and demand.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Altairnano - The company offers advanced lithium-ion battery application kits for use in microgrids, offshore oil and gas facilities, transportation, and other areas.
Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:
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Market structure |
Fragmented |
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YoY growth 2023-2024 |
34.4 |
The market is experiencing significant growth due to the increasing demand for high-performance, long-lasting, and safe energy storage solutions. Lithium solid-state batteries offer several advantages over traditional lithium-ion batteries, including higher energy density, improved safety, and longer longevity. These batteries use solid electrolytes instead of liquid or gel electrolytes, making them less prone to thermal runaway and improving safety. The market is driven by the growing adoption of electric vehicles (EVs) and the renewable energy sector. Government funding and venture capital investments are also playing a crucial role in the development of this technology. The market is witnessing the establishment of pilot production lines and the expansion of manufacturing capabilities by key players. Solid electrodes and thin-film batteries are gaining popularity due to their high energy density and potential for faster charging times. High-performance batteries are being developed to meet the demands of the consumer electronics industry and the transportation sector for extended range and clean energy options. Regulatory support and safety features are also critical factors influencing the market's growth. The market's technological expertise and supply chain efficiencies are expected to improve as research and development efforts continue. Lithium polymer batteries and high-energy-density batteries are expected to dominate the market due to their superior performance characteristics. The market's growth is also driven by the increasing demand for environmentally friendly options and the need for rechargeable batteries in various applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Launch of lithium solid-state battery by market companies is notably driving market growth. The market is witnessing substantial growth due to the introduction of this advanced technology by various companies. Lithium solid-state batteries (SSBs) offer enhanced performance, safety, and energy density, making them an ideal solution for various applications, especially in the electric vehicle (EV) sector. Sakuu Corporation, a pioneer in automated multi-process additive manufacturing, has recently unveiled a 3Ah lithium-metal SSB. This groundbreaking technology aims to match or surpass the capabilities of current lithium-ion batteries. Sakuu's first-generation SSBs, which consist of 30 sub-cells and feature a proprietary printed ceramic separator, are slated for commercial launch by the end of this year. The energy storage systems market, including high-performance batteries for consumer electronics, renewable energy sector, and transportation, stands to benefit significantly from the adoption of SSBs. These batteries also cater to the needs of the EV industry for extended range, faster charging times, and safety features. Additionally, SSBs offer advantages such as longer shelf life, lighter weight, and flexibility, making them suitable for applications in wearable devices and clean energy (clean energy market) solutions.
Regulatory support, manufacturing capabilities, and technological expertise are crucial factors driving the growth of the SSB market. Furthermore, venture capital and government funding are expected to play a significant role in the development and commercialization of this technology. Silicon anode batteries, thin-film batteries, and high-energy-density batteries are other types of solid-state batteries gaining attention in the market. The shift towards sustainable energy and the need for environmentally friendly options are also contributing to the increasing demand for SSBs. However, regulatory criteria and electrolyte type remain critical factors influencing the market's growth trajectory. Thus, such factors are driving the growth of the market during the forecast period.
Growing requirement for long-range EVs is the key trend in the market. The market is experiencing growth due to the escalating demand for high-performance batteries in various sectors, including electric vehicles (EVs) and consumer electronics. The limitations of current lithium-ion batteries, such as energy density, safety concerns, and longevity, have necessitated the exploration of alternative battery technologies. SSB (Solid-state batteries market), which employ solid electrolytes instead of liquid or gel-type electrolytes, are gaining significant attention due to their potential advantages. In the automotive industry, the shift towards clean energy and the increasing adoption of EVs have highlighted the need for batteries with extended range, shorter charging times, and improved safety features. Major automotive manufacturers, including Toyota Motor Corp., are investing in SSBs to address these challenges. The anticipated commercialization of SSBs by these industry leaders is expected by 2027. Besides the automotive sector, SSBs are also gaining traction in the renewable energy sector and energy storage systems due to their superior energy density and longer shelf life. The technological expertise and manufacturing capabilities of key players in this market are crucial for the successful commercialization of SSBs.
Government funding, venture capital, and regulatory support are also essential for the growth of the market. SSBs offer several advantages over traditional lithium-ion batteries, such as improved safety, longer life cycle, and faster charging times. They are also more environmentally friendly, as they do not contain heavy metals and have a lower carbon footprint. Additionally, SSBs can be used in various applications, including thin-film batteries, flexible batteries, lightweight batteries, and silicon anode batteries. The regulatory criteria for battery types and electrolyte types are essential considerations in the development and commercialization of SSBs. As the market for SSBs continues to evolve, it is expected that charging times, safety features, and supply chain efficiencies will continue to be key areas of focus. Thus, such trends will shape the growth of the market during the forecast period.
Lack of EV charging infrastructure is the major challenge that affects the growth of the market. The market is witnessing significant growth due to the increasing demand for high-performance batteries in various sectors, including electric vehicles (EVs), consumer electronics, and the renewable energy sector. Energy density, safety, and longevity are the key factors driving the market's growth. Solid electrolytes, a critical component of solid-state batteries, offer several advantages over traditional liquid electrolytes used in Lithium-ion batteries. These advantages include improved safety, longer shelf life, and faster charging times. Government funding and venture capital investments are playing a crucial role in advancing the technological expertise and manufacturing capabilities required to bring solid-state batteries to market. Thin-film batteries, silicon anode batteries, and flexible batteries are some of the high-energy-density battery types under development. These batteries are expected to revolutionize the transportation sector by providing extended range and reducing carbon emissions, aligning with the global push towards sustainable energy.
Regulatory support and safety features are essential considerations in the adoption of solid-state batteries. The regulatory criteria for battery types and electrolyte types are being established to ensure the safety and reliability of these advanced batteries. Pilot production lines are being set up to address the supply chain efficiencies required to meet the growing demand for these batteries. In the EV industry, solid-state batteries offer the potential to address concerns such as charging infrastructure, range anxiety, and long charging times. However, the high cost of production remains a significant challenge that needs to be addressed to make solid-state batteries a viable and environmentally friendly option for mass adoption. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
The market is witnessing significant growth due to the increasing demand for high-performance batteries with improved energy density, safety, and longevity. Solid electrolytes used in these batteries offer several advantages, including enhanced safety, longer shelf life, and faster charging times. The market is driven by the growing adoption of electric vehicles (EVs) and the renewable energy sector. Government funding and venture capital investments are also boosting the market's growth. In the electric vehicle segment, solid-state batteries offer extended range, shorter charging times, and safety features that make them an attractive option. In consumer electronics, they provide lightweight and flexible batteries for wearable devices and other portable gadgets. The renewable energy sector is another significant market for solid-state batteries, where they are used in energy storage systems to ensure clean energy supply and efficiency.
Manufacturing capabilities and technological expertise are crucial factors in the market's growth. Pilot production lines are being set up to address the supply chain (supply chain market) efficiencies required for mass production. The market's regulatory support is essential for the adoption of solid-state batteries, with regulatory criteria being established for battery electrolyte type (electrolyte mix market), and safety features. Solid-state batteries come in various types, including lithium polymer batteries, silicon anode batteries, and thin-film batteries, each offering unique advantages. The market's growth is expected to continue as the industry focuses on developing high-energy-density batteries for transportation, sustainable energy, and other applications. The shift towards environmentally friendly options and reducing carbon emissions is also driving the market's growth.
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Market Scope |
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Report Coverage |
Details |
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Page number |
204 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 42% |
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Market growth 2024-2028 |
USD 398.26 thousand |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key countries |
China, US, Japan, South Korea, Norway, India, Germany, Australia, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Altairnano, Ampcera Inc., Beijing Weilan New Energy Technology Co., Ltd, Bollore SE, BYD Co. Ltd., Future Electronics, Ganfeng Lithium Group Co., Ltd, Hitachi Zosen Corp., Ilika, Ion Storage Systems, Johnson Energy Storage Inc., LG Energy Solution Ltd., Murata Manufacturing Co. Ltd., Poly Plus Battery Co., ProLogium Technology Co. Ltd., Samsung SDI Co. Ltd., Solid Power Inc., STMicroelectronics International N.V., TDK Corp., and Toyota Motor Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, AI impact on market trends, COVID -19 impact and recovery analysis and future consumer dynamics, market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by End-user
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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