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Solid State Battery Market 2023 : By Size, Segments, Trends, Growth And Regional Outlook 2032 | Cymbet, Robert Bosch GmbH, SolidEnergy System, Toyota Motor Corporation, Solid Power
Solid State Battery Market Growth
The Business Research Company's Solid State Battery Global Market Report 2023 identifies rising adoption of electric vehicles as the major driver for the Solid State Battery market's growth in the forecast period. While the economic effect of COVID-19 has dampened demand for petrol and diesel cars, demand for EVs has increased. Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. This shifts toward EVs help with the economic growth by shifting consumption away from imported oil and lowering fuel costs moving towards more locally produced power.
The global solid state battery market size grew from $0.34 billion in 2022 to $0.49 billion in 2023 at a compound annual growth rate (CAGR) of 44.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The solid state battery market size is expected to grow to $2.41 billion in 2027 at a CAGR of 48.8%.
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Major competitors in the Solid State Battery market are Cymbet, Robert Bosch GmbH, SolidEnergy System, Toyota Motor Corporation, Solid Power, Excellatron Solid State, BrightVolt, Samsung SDI Co. Ltd., QuantumScape, Stmicroelectronics N.V, Planar Energy Devices Inc., Solvay, Pathion Inc., Infinite Power Solution Inc., Saft, Sakti3 Inc., Bollore, Prologium and Ilika.
A key trend in the Solid State Battery market includes technological advancement. Major companies operating in the solid-state battery market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation solid-state battery technologies into their products, such as electrochemical, electrolytes, Li-ion batteries, cathode, anode, and others, to bring the solid-state battery cheaper and lighter. For instance, in September 2021, LG Energy Solution and the University of California, San Diego researchers created a new type of battery that combines two technology techniques. The battery is an all-silicon solid-state battery because it contains a solid-state electrolyte and an all-silicon anode.
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The Solid State Battery market is segmented -
By Type: Single-Cell Battery, Multi-Cell Battery
By Rechargeability: Primary Battery, Secondary Battery
By Material Type: Thin Film Batteries, Portable Batteries
By Application: Consumer And Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable And Medical Devices, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Solid State Battery market.
The Business Research Company's "Global Solid State Battery Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Solid State Battery Market Include:
1. Executive Summary
2. Solid State Battery Market Characteristics
3. Solid State Battery Market Trends And Strategies
4. Solid State Battery Market - Macro Economic Scenario
5. Solid State Battery Market Size And Growth
……
26. Africa Solid State Battery Market
27. Solid State Battery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solid State Battery Market
29. Solid State Battery Market Future Outlook and Potential Analysis
30. Appendix
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