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Global Solid-State Car Battery Market is projected to grow at a CAGR of 82.1% By 2032: Visiongain Research Inc
Visiongain has published a new report entitled the Solid-State Car Battery Market Report 2022-2032. It includes profiles of Solid-State Car Battery and Forecasts Market Segment by Vehicle Type, Passenger Car, Commercial Vehicle, , Market Segment by Propulsion, Battery Electric Vehicle (BEV), Plug in Hybrid Electric Vehicle (PHEV), Other Propulsion, , Market Segment by Energy Density, <450 Wh/kg, >450 Wh/kg, , Market Segment by Type, Hybrid Solid-Liquid Electrolytes, Polymer and Composite Solid Electrolytes, Garnet Solid Electrolytes, Sulphide Solid Electrolytes, Thin-Film Solid-State Batteries, Other Type, , PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global solid-state car battery market was valued at US$487 million in 2021 and is projected to grow at a CAGR of 82.1% during the forecast period 2022-2032.
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Increasing Need for SSBs in Electric Vehicles
Solid-state batteries could be a game changer for electric vehicles (EVs), holding more energy, charging faster, and providing higher safety than liquid lithium-ion batteries, accelerating the transition away from fossil-fuel-powered vehicles. As a result, electric vehicles powered by lithium-ion batteries are more sensitive to fires and chemical leaks.
How has COVID-19 had a significant negative impact on the Solid-State Car Battery Market?
The pandemic has not spared the lithium battery industry. Although lithium batteries are utilized in many key medical devices, including ventilators, which have been critical throughout this pandemic, electric vehicles have seen the most growth (EVs). However, Wood Mackenzie has predicted that global EV sales will drop 43 percent this year as a result of the Covid-19 outbreak. Monthly EV sales in China fell by 39% in the first quarter of 2020, but the International Energy Agency (IEA) is more hopeful about the full year.
According to the IEA's Global EV Outlook 2020, the Covid-19 pandemic will cause a 15% decline in the passenger car market this year, although sales of passenger and commercial light-duty EVs will remain largely at 2019 levels. They do caution, however, that a second wave of the pandemic or a slower-than-expected recovery could result in a worse outcome. China, which dominates global lithium-ion battery production, has seen its two largest lithium-ion manufacturers, Contemporary Amperex Technology Co. Ltd (CATL) and BYD, reduce production due to a shortage of labor and raw materials.
How this Report Will Benefit you?
Visiongain’s 400+ page report provides 270 tables and 264 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global solid-state car battery market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Solid-State Car Battery. Get the financial analysis of the overall market and different segments including type, vehicle type, propulsion, energy density and capture higher market share. We believe that high opportunity remains in this fast-growing solid-state car battery market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.
What are the current market drivers?
Solid-State Batteries Provide Higher Energy Efficiency, are Smaller in Size, and are Lighter
Automakers have been working hard to increase the range of electric vehicles without recharging them. As a result, there is a growing demand for better and more advanced battery technologies. This is the market where solid-state batteries are outperforming contemporary lithium-ion batteries. By switching from liquid to solid electrolytes, the method improves conductivity, resulting in a 25% to 30% increase in power and energy density, as well as compactness in size. Solid-state battery technology aids in the transition to a multi-layer cell.
Solid-State Battery can Charge Quickly
Solid-state batteries do not contain a liquid electrolyte, which heats up during fast charging, and so provide more safety than liquid lithium-ion batteries. Solid-state batteries in EVs would provide faster charging times, better travel range, and even higher energy density, in addition to increased safety, compactness, and stability. Solid-state batteries can charge to 80% in 15 minutes and are less prone to strain after numerous charging cycles. Lithium-ion batteries, which today take hours to charge, will only take minutes to charge. It is significantly denser than lithium-ion and can store three times as much energy in the same amount of area. Even at four degrees below zero, such a battery retains strong conductivity (or -20 degrees Celsius). A solid-state battery's stability is highly significant.
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Where are the market opportunities?
Technological Advancements
SSBs are in high demand across the world. Companies are exploring ways to make SSBs more affordable not only for consumers but also for themselves because of ongoing technical developments. Different varieties of SSBs are being developed to meet a variety of needs. Engineers, for example, developed a novel sort of battery that combines two potential battery sub-fields into a single cell. The battery incorporates a solid-state electrolyte as well as an all-silicon anode, resulting in a silicon all-solid-state battery
SSBs are Being Used Increasingly in IOT Devices
End users may be able to reduce the number of batteries changes they make while still ensuring that their IoT devices keep power with ceramic solid-state technology. The IoT necessity manifests itself in the desire to link various appliances and devices to the internet. Solar-powered Bluetooth Low Energy (BLE) beacon technology is one alternative that is swiftly gaining traction. When the solar cell is not operating, a solid-state battery stores energy to charge the capacitor. After the capacitor has been fully charged, any excess energy is transferred to the solid-state battery. When necessary, it also discharges stored energy to the capacitor. This allows the solar-powered beacon to run constantly.
Competitive Landscape
The major players operating in the solid-state car battery market are Toyota Motor Corporation, Solid Power, Samsung SDI, LG Chem Ltd., Ilika Ltd., BrightVolt, Panasonic Corporation, CATL, Northvolt, Cymbet, Stellantis N V, Mitsubishi Motors, BYD, Prieto Battery, SK Innovation, Akasol, Electrovaya Inc, ProLogium, Leclanche SA, Octillion Power Systems, These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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Information found nowhere else
With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the solid-state car battery market and leading companies. You will find data, trends and predictions.
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.
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