Solid-State Battery Market worth USD 4.3 billion by 2027, with 48.02% CAGR – Report by Market Research Future (MRFR)
New York, July 05, 2021 (GLOBE NEWSWIRE) — Solid-State Battery Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Solid-State Battery Market Research Report by Type, , Application and Region– Forecast till 2027” the market size is projected to reach USD 4.3 billion by 2027, with 48.02% CAGR between 2020 and 2027.
Market Synopsis
The most important factors which influence the global solid-state batteries in the electric vehicles market are the rising electric vehicle sales, the growing research, and development initiatives taken by several major companies, focus on developing new products. Apart from this, the organizations are also paying attention to the launch of new products to leverage the unique attributes of the solid-state batteries. Moreover, these batteries possess the capacity to supply a stable voltage, which escalates their adoption in medical and precision equipment.
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Key Players
The forefront players profiled in the global solid-state battery market research report are
- Infinite Power Solution, Inc. (U.S.)
- STMicroelectronics N.V. (Switzerland)
- Cymbet Corporation (U.S.)
- Robert Bosch GmbH (Germany)
- Brightvolt Inc. (U.S.)
- Toyota Motor Corporation (Japan)
- Excellatron Solid State LLC. (U.S.)
- Apple Inc. (U.S.)
- LLC (U.S.)
- Planar Energy Devices, Inc. (U.S.)
- Altairnano (U.S.)
- Solid Power, Inc. (U.S.), and
- Quantumscape Corporation (U.S.)., among others
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Market Segmentation
The global solid-state battery market has been segregated on the basis of capacity, type, application, and region.
On the basis of capacity, the global solid-state battery market can be divided into less than 20 mAH, 20 mAH – 300 mAH, 301 mAH – 500 mAH, and above 500 mAH. The segment above 500 mAH is likely to expand with the highest CAGR during the review period.
On the basis of type, the global solid-state battery market can be divided into the thin-film battery, portable battery, and others. The thin-film battery vertical is likely to acquire the largest share during the review period due to the rising adoption of solid-state battery materials.
On the basis of application, the global solid-state battery market can be divided into electronics, electric vehicles, medical devices, smart cards, wearable devices, and others. The electric vehicles vertical is estimated to acquire the most significant share due to the increasing adoption of solid-state batteries.
On the basis of region, the global solid-state battery market can be divided into North America, Asia-Pacific, Europe, the Middle East and Africa, and South America.
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Regional Analysis
The regional analysis of North America, Europe, Asia-Pacific, Middle East, and Africa, and South America has been performed. As per the analysis, the Asia-Pacific is estimated to lead the global solid-state battery market in terms of market share. Due to the increasing use of refined products in the region, which includes medical devices, drug delivery systems, and smart cards. China is the fastest-growing market in the region because of the high demand for consumer electronics in the country. The North American market holds a high amount of share owing to increasing product demand from smart cards, packaging, and electric vehicle sectors in the region. The European market is estimated to be led by Germany due to the generation of high demand from various industries. The Middle East and African market is dominated by the shares of the market in Saudi Arabia, owing to the demand for wearable devices in the region. The UAE is likely to be the fastest-growing market for solid-state batteries because of the initiatives taken by the government to reduce the carbon emission. The South American market is led by Brazil due to the rising demand for wearable devices and consumer electronics in the region. Due to the improved financial condition, there has been a rise in the demand for consumer electronics and wearable devices in Brazil.
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Segmentation of Market covered in the research:
Solid-State Battery Market Research Report Information: by Type (Portable Battery, Thin-film Battery and others), Capacity (Less than 20 mAH, 20 mAH – 300 mAH, 301 mAH – 500 mAH and Above 500 mAH ), Application (Electric Vehicles, Electronics, Medical Devices, Wearable Devices, Smart Cards and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of the Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Capacity Estimation
3.4 Forecast Model
3.5 List of Assumptions
3.6 Limitations of the Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat of New Entrants
5.5.2 Bargaining Power of Buyers
5.5.3 Bargaining Power of Suppliers
5.5.4 Threat of Substitutes
5.5.5 Rivalry
5.6 Value Chain/Supply Chain Analysis
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Excellatron Solid State LLC
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