Electric Vehicle Solid State Battery Market Ongoing Trend with Most Demanding Players as Cymbet, Limited (CATL), Ilika, LG Chem, Northvolt AB, Panasonic Corporation, QuantumScape Corporation

According to a new report published by Allied Market Research, titled, "Electric Vehicle Solid State Battery Market," The electric vehicle solid state battery market is expected to be valued at $0.37 billion in 2025, and is estimated to reach $1.9 billion by 2035, growing at a CAGR of 18% from 2025 to 2035.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭:- https://www.alliedmarketresearch.com/request-sample/32057

The Asia-Pacific electric vehicle solid state battery market includes China, India, Japan, South Korea, Rest of Asia-Pacific. The growth of the market in Asia-Pacific is driven by upsurge in adoption & utility of electric vehicles, increase in investments & research for improvement in research from private organizations, and initiatives taken by the multinational organizations to develop solid state battery technology.

Japan is significantly contributing toward the growth of the market, as several multinational organizations such as Toyota Motor Corp, Nissan Motor Co., and Honda Motor Co. are operating in the EV solid state battery market. China and South Korea are evolving as a major manufacturing hub for solid state battery. Toyota Motor Corporation has formed a team of around 200 individuals that are working on developing advanced solid-state battery, aiming to install it in cars by the end of 2020. Other established companies operating in the Asia-Pacific region include Planar Energy Devices Inc., Robert Bosch, Front Edge Technology Inc., Hitachi Zosen Corporation, Cymbet Corporation, and other.

On the basis of battery energy density, the global electric vehicle solid state battery market has been segmented into Less than 450 Wh/kg, and More than 450 Wh/kg. Solid state battery with energy density less than 450 Wh/kg are considered in this segment. Battery with less than 450 Wh/kg density can be used in light duty vehicles, passenger vehicles and others. Solid-state batteries offer significant advantages over traditional lithium-ion and semi-solid-state batteries in terms of individual cell energy density, charge rate, safety, durability, and thermal management.

Battery manufacturers prototype solid-state batteries so automakers can evaluate them for future electric vehicles. For instance, in July 2022, Svolt Energy launched a prototype, 20 Ah sulfide solid state battery cell with an energy density of 350-400 Wh/kg. These prototype cells have passed nail puncture and thermal runaway tests at temperatures up to 200°C. Batteries are expected to be used in electric vehicles to travel more than 1,000 kilometers on a single charge.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 - https://www.alliedmarketresearch.com/purchase-enquiry/32057

Significant factors that impact growth of the electric vehicle solid state battery market comprise increase in demand for fast charging technology in electric vehicles, increase in need for long range electric vehicle, increased safety as solid state batteries have less chance of overheating as compared to lithium-ion batteries. However, higher cost compared to conventional EV batteries, and technological challenges for development of solid state batteries are expected to hamper the market growth. Furthermore, rise in adoption of zero-emission electric vehicles, favorable government regulations, and development of battery-as-a-service model are expected to create new growth opportunities for the market during the forecast period.

To fulfil the changing demand scenarios, market participants are concentrating on business expansion and investments to meet new business opportunities. For instance, in September 2021, Toyota Motor Corporation announce to invest $13.6 billion in solid-state battery development and supply over the next decade as the world's largest carmaker. Moreover, in June 2022, Solid Power, a developer of all-solid-state battery cells for electric vehicles, announced that it has completed installation of its pilot production line named as "EV cell pilot line" which is designed to produce EV-scale solid-state cells.

In addition, market participants are continuously focusing on product launch and product development efforts to match changing end-user requirements. For instance, in December 2021, Toyota Motor Corporation announce to deploy solid-state batteries in its hybrid vehicles by 2025 before introducing the technology to BEVs.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 (218 𝗣𝗮𝗴𝗲𝘀 𝗣𝗗𝗙 𝘄𝗶𝘁𝗵 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝗖𝗵𝗮𝗿𝘁𝘀, 𝗧𝗮𝗯𝗹𝗲𝘀, 𝗙𝗶𝗴𝘂𝗿𝗲𝘀) 𝗮𝘁: https://www.alliedmarketresearch.com/electric-vehicle-solid-state-battery-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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