At 49% CAGR, Solid State Battery Market Size to Cross $1,407.7 Million by 2025

Increased application areas of solid state batteries such as healthcare, consumer durables, and aviation coupled with aggrandized need for solid state batteries in electric vehicles drives the growth of the market. However, high initial cost of solid state batteries and complex manufacturing process hinder the market growth.

The report provides in-depth analyses of the key winning strategies, drivers & opportunities, market share & estimations, key market segments, and competitive landscape. According to the report, the global market garnered $53 million in 2017 and is expected to reach $1,407.7 million by 2025, registering a CAGR of 49% from 2018 to 2025.

Portable solid state battery segment to dominate the global market through 2025

Among product types, the portable segment accounted for 86% of the total market share in 2017 and would continue its dominance through 2025. Need for greater battery back-up in tablets, laptops, smartphones, e-readers and even MP3 players has bolstered the demand for portable battery.

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Electric vehicle segment to render the fastest growth by 2025

The consumer and portable electronics segment contributed 42% of the total market share in 2017 and would maintain its lion's share throughout the forecast period. This is due to the growing demand for solid state batteries in portable electronics such as laptops and mobile phones.

Top players of the industry

The key market players analyzed in the report include Cymbet Corporation, Seeo Inc. (Robert Bosch GMBH subsidiary), StmicroElectronics N.V., Toyota Motor Corporation, Sakti3 Inc. (Dyson Ltd subsidiary) and Brightvolt, Inc. The other key players include Excellatron Solid State, LLC, Infinite Power Solution, Inc., Planar Energy Devices, Inc., QuantumEscape, Altairnano, and Solid Power, Inc.

North America to remain dominant, Europe to grow the fastest

North America generated the highest revenue of 35% in 2017 and is anticipated to continue its dominance during the forecast period. This is due to the increase in demand for batteries from packaging, smart cards, and electric vehicle sectors in the region. The U.S. is the major revenue contributor to the North American solid state battery market.

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Key Findings of the Solid state battery Market:
o In 2017, based on application, the consumer and portable electronics segment accounted for three-sevenths share in application segment of the global solid state battery market.
o Based on application, the electric vehicle segment is anticipated to grow at the highest CAGR during the forecast period.

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