Automotive Solid-State Battery Market Opportunities, Market-specific challenges and Demand Forecast to 2027
“The Automotive Solid-State Battery Market is predicted to register a CAGR of 49.4% over the forecast period 2021 – 2027.”
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Key Competitors of the Automotive Solid-State Battery market is: Toyota, BMW Group, Enevate, Hitachi, Ilika, Ionic Materials, Johnson Battery Technologies, LG Chem, Murata Manufacturing, NGK Spark Plug, NanoGraf, Nichia, Nippon Chemical Industrial, Panasonic, QuantumScape, Sakti3, Samsung SDI, Seeo, Sila Nanotechnologies, Solid Power, Volkswagen Group, BYD
In May 2021, Solid Power unveiled its solid-state platform technology by showcasing its new 77 kWh SSB. The battery is around 44% smaller and 35 kg lighter than conventional lithium-ion batteries. According to the company, its use in EVs can increase vehicle range by around 14-16%.
In March 2021, Toyota announced its rechargeable solid-state car battery development and its prototype car, which will be launched in 2021. The company announced that the EV using the solid-state car battery will ensure a range greater than 500 miles on a single charge and charge the EV battery fully in 10 minutes.
In December 2020, QuantumScape released its performance data for its solid-state car battery technology based on a prototype developed. It takes 15 minutes for 80% charge of the battery and has a longer range than conventional lithium-ion batteries. It can operate at a wider temperature scope.
In October 2020, LG Chem and CATL developed an EV battery for Tesla’s Chinese production to boost energy density by 5-6 times. LG Chem is also working on developing solid-state batteries in the coming years.
In July 2020, Ilika following its earlier project on Stereax Micro solid-state batteries, the company started working on the development of Goliath solid-state batteries for use in EVs and hybrid vehicles.
In July 2020, Panasonic announced the development of a real-time observation technique for solid-state batteries. This technology will be used for the development of all-purpose solid-state batteries in the coming years.
This report Provides intelligent marketing research for smarter decision-making and resource investment estimation. The report discusses these elements and describes the main players that are expected to extend the demand for the Automotive Solid-State Battery market within the upcoming years.
Automotive Solid-State Battery market report introduces some features and provides a basic view of the most players. In this report provides a comprehensive and in-depth review of the market. The players are likewise presenting newer product varieties within the market to reinforce the merchandise portfolio by embracing the new innovation and completing it in their business.
The Automotive Solid-State Battery market is often split supported product types, major applications, and important countries as follows:
Major Types covered are:
Major Applications covered are:
The global Automotive Solid-State Battery market size is projected to grow from 27,070 units in 2025 to 661,724 units by 2027, at a CAGR . Factors such as increasing demand for electric vehicles around the world, higher battery capacity and EV range using solid-state car batteries and other features of SSB’s like higher battery life, higher energy density and better safety features compared to presently used lithium ion batteries. The growing concern for larger distance commuting using EV’s will also boost the market.
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“Europe is expected to witness significant growth during the forecast period.”
The Asia Pacific region will the largest Automotive Solid-State Battery market during the forecast period. The Asia Pacific Automotive Solid-State Battery market will be led by countries such as China, Japan, and South Korea. The governments of these countries have supported the growth of EV demand through subsidies, favorable policies for EVs and discouraging the use of petrol. This will lead to a fast-growing demand for solid-state car batteries in the region once they come into the market. Premium EVs using solid-state batteries will be launched in China and Japan, followed by South Korea and India. Growth will be slower in the initial years but will speed up after 2026. India will be the fastest-growing market in the region due to current and upcoming EV policies. Japan will also be one of the fastest-growing markets in the region due to top OEMs such as Toyota, Nissan, and Mitsubishi and battery manufacturers working to develop solid-state batteries.
Regional market Automotive Solid-State Battery (regional production, demand and forecast by country):
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And more.
The inquire approximately record considers the past, display, and destiny execution of the global market. The record advances investigations the display aggressive situation, most important trade models, and consequently the possibly headways in services with the aid of using crucial gamers inside the upcoming years.
To Buy This Report:
To project the worth and sales volume of the Automotive Solid-State Battery market, with reference to key regions.
To analyses competitive developments like expansions, agreements, new product launches, and acquisitions within the market.
To study and analyses the global Automotive Solid-State Battery market size (value & volume) by company, key regions, products, and end-user, breakdown data from The Last Five Years, and forecast to 2027.
to know the structure of the Automotive Solid-State Battery market by identifying its various sub-segments.
To percentage targeted records approximately the important thing elements influencing the enlargement of the market (increase potential, opportunities, industry-particular challenges, and risks).
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