Global EV Solid State Battery Market 2018-2025
Key contents of the report include-
• Market size and Forecast segmented by, battery capacity(70kWh), Geography(US, Europe, China, Asia Excluding China and Rest of the World), By subcomponents(Thermal Management, Power Electronics, Cells)
• Market Dynamics(Trends, Drivers and Challenges)
• Market share and competitive landscape of Solid State Battery manufacturers
• 11 Company profiles
The role of batteries in EVs is no less important than that of engines in ICE powered vehicles. It is for this reason that there has been a great deal of R&D activity in the past decade than for all of 20thcentury. The Lithium-ion battery at present is very bulky and costly, thus has room for the tremendous amount of improvement. Solid state batteries are one of the ways that auto OEMs are looking at to improve the performance of EVs and kill the range anxiety associated with it.
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The advantages of Solid state batteries include
• 2-3X higher energy density as compared to present Li-ion technology
• Lower cost due to simplified cell module, reduced safety requirement, and lower thermal management requirement
• Better compatibility with industrial automation, leading to faster production
Going by current market scenario, China is expected to be the leading producer of EV Li-ion batteries and will account for ~60% of global EV battery manufacturing capacity by 2020. South Korea will be the second biggest producer accounting for ~12-15% of total production. Cumulatively, these two countries will make up for ~70-75% of Li-lion battery production by 2020.
If solid-state battery technology gains traction, then the dominance of Asian countries will be greatly challenged. Most of the R&D on Solid state battery is happening in Europe and North America. There are more than 15 universities in the US and Europe working on this technology working in collaboration with industry participants
Market Size and Forecast
OEMs like Hyundai, BMW, and Volkswagen among others are betting strongly on this technology. Toyota wants to equip its new EVs with solid state batteries after 2022. Among tier-1 suppliers, Bosch was very bullish on this technology when it acquired solid state battery startup Seeo Inc, back in 2014 but has completely changed its stance now.
This battery technology could find higher adoption in performance vehicles, as we saw the recently unveiled Audi PB18 e-Tron. Porsche is also looking to equip its upcoming range of Mission E vehicles with it. Apart from conventional players, consumer electronics giant Dyson is also working on this technology and has also invested $90M to acquire Sakti3, a solid state battery startup.
US-based new car maker Fisker is leading the pack in terms of the development of solid state batteries. Fisker's solid-state battery can produce roughly 2.5-2.6 times the energy density than that of lithium-ion batteries at a third of the cost. Solid state battery for EVs are yet to be mass produced but this market has already seen multiple acquisitions, partnerships, and investments from bigger players. Even the government body of Japan is interested in this technology and wants to develop a battery with 800kms of range by 2030.
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