GITNUX MARKETDATA REPORT 2024

Solid State Battery Industry Statistics

The solid state battery industry is expected to experience significant growth in the coming years, driven by increasing demand for electric vehicles and consumer electronics.

Highlights: Solid State Battery Industry Statistics

  • The global solid-state battery market is expected to grow from $62.0 million in 2020 to $2.6 billion by 2026, at a CAGR of 72.3%.
  • Asia-pacific market is expected to dominate in the solid-state battery industry through 2026.
  • The automotive sector is projected to account for the highest share in the solid-state battery market.
  • The North America solid state battery market is expected to grow at 66.9% CAGR through 2025.
  • Solid power, a leading solid-state battery manufacturer, has raised $130 million in a Series B funding round, indicating significant investor interest.
  • QuantumScape, another solid-state battery start-up, achieved a valuation of over $20 billion in 2021.
  • In 2027, the solid-state battery market in Europe is projected to reach $482.8 million.
  • Energy storage applications are projected to grow at the highest CAGR of 34.6% from 2020 to 2027 in the solid-state battery market.
  • Li-ion based solid-state battery has the largest share of the global solid-state battery market.
  • It is estimated that automotive applications will hold a share of over 50% in the solid-state battery market by 2027.
  • The number of patents filed for solid-state batteries has seen a rise of 70% over the last three years.
  • Thin-film solid-state batteries are estimated to grow at over 30% CAGR in the forecast period up to 2026.
  • Toyota, a leading automotive manufacturer, plans to commercialize solid-state battery technology by the early 2020s.
  • BMW Group plans to have solid-state batteries in series production by the end of this decade.
  • Solid-state batteries promise 2–10 times the energy density of lithium-ion batteries.
  • Volkswagen aims to produce solid-state batteries capable of 750km range and 12-minute charging times by 2025.
  • The China solid-state battery market is expected to register a CAGR of over 60% during the forecast period 2020-2025.
  • Solid-state batteries could potentially power electric vehicles for over 800 kilometers (500 miles) on a single charge.

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The Latest Solid State Battery Industry Statistics Explained

The global solid-state battery market is expected to grow from $62.0 million in 2020 to $2.6 billion by 2026, at a CAGR of 72.3%.

This statistic presents the projected growth of the global solid-state battery market over a six-year period, from $62.0 million in 2020 to $2.6 billion by 2026, indicating a Compound Annual Growth Rate (CAGR) of 72.3%. The significant CAGR highlights the rapid expansion and potential of the solid-state battery industry, driven by factors such as increasing demand for energy storage solutions, advancements in battery technology, and a shift towards electric vehicles. The substantial growth forecast suggests a strong market outlook for solid-state batteries, positioning them as a key player in the future of energy storage and transportation sectors.

Asia-pacific market is expected to dominate in the solid-state battery industry through 2026.

The statistic indicates that the Asia-Pacific region is projected to have a leading position in the solid-state battery industry until the year 2026. This suggests that countries in the Asia-Pacific region, such as Japan, South Korea, and China, are expected to be key players in the development, manufacturing, and adoption of solid-state batteries. Factors contributing to this dominance may include advanced technological capabilities, significant investment in research and development, strong government support, and a large market demand for electric vehicles and other applications using solid-state batteries. As a result, companies operating in the solid-state battery industry are likely to focus their efforts on tapping into the opportunities presented by the Asia-Pacific market during this period.

The automotive sector is projected to account for the highest share in the solid-state battery market.

This statistic indicates that within the solid-state battery market, the automotive sector is expected to have the largest proportion of market share compared to other sectors. This suggests a growing trend in the adoption of solid-state batteries in the automotive industry, potentially driven by factors such as increasing demand for electric vehicles and the need for more efficient and advanced battery technology. The projected high share of the automotive sector in the solid-state battery market reflects the sector’s significant contribution to the overall market size and underscores the industry’s potential impact on the advancement and growth of solid-state battery technology.

The North America solid state battery market is expected to grow at 66.9% CAGR through 2025.

This statistic indicates that the market for solid state batteries in North America is projected to experience rapid growth over the next few years. The Compound Annual Growth Rate (CAGR) of 66.9% through 2025 suggests a strong and consistent increase in market size and demand for these batteries. This growth rate is significantly higher than the average market growth rate, indicating a rapidly expanding market driven by factors such as technological advancements, increasing sustainable energy initiatives, and the rising demand for electric vehicles. Overall, this statistic highlights a promising outlook for the solid state battery market in North America with substantial opportunities for companies operating in this industry.

Solid power, a leading solid-state battery manufacturer, has raised $130 million in a Series B funding round, indicating significant investor interest.

The statistic indicates that Solid Power, a prominent solid-state battery manufacturer, has successfully secured $130 million in a Series B funding round. This achievement points to substantial investor interest and confidence in the company’s potential for growth and success. Securing such a substantial amount of funding in a Series B round suggests that investors are optimistic about the company’s technology, business model, and market potential. This influx of capital not only provides Solid Power with the financial resources necessary to scale its operations and advance its technology but also serves as a vote of confidence in the company’s ability to make significant strides in the solid-state battery industry.

QuantumScape, another solid-state battery start-up, achieved a valuation of over $20 billion in 2021.

The statistic indicates that QuantumScape, a company specializing in solid-state batteries, reached a valuation exceeding $20 billion in the year 2021. This achievement underscores the increasing interest and investment in solid-state battery technology, which is seen as a promising solution for the future of electric vehicles and clean energy storage. The valuation reflects investors’ confidence in QuantumScape’s innovative technology and potential market impact, positioning the company as a key player in the rapidly evolving battery industry. This milestone demonstrates the growing importance of sustainable energy solutions and signals a significant milestone in QuantumScape’s growth trajectory.

In 2027, the solid-state battery market in Europe is projected to reach $482.8 million.

The statistic stating that the solid-state battery market in Europe is projected to reach $482.8 million in 2027 indicates the anticipated total value of sales for solid-state batteries within the European market during that year. This figure represents the estimated revenue generated from the sales of solid-state batteries, which are known for their higher energy density, improved safety, and potential applications in various industries including electric vehicles and consumer electronics. The projected growth in the solid-state battery market reflects the increasing demand for more efficient and sustainable energy storage solutions, as well as advancements in technology and manufacturing capabilities within the industry.

Energy storage applications are projected to grow at the highest CAGR of 34.6% from 2020 to 2027 in the solid-state battery market.

This statistic indicates that energy storage applications are expected to experience significant growth in the solid-state battery market between 2020 and 2027, with a compound annual growth rate (CAGR) of 34.6%. This high growth rate suggests a strong and increasing demand for solid-state batteries in energy storage applications, such as electric vehicles, renewable energy storage, and consumer electronics. The projection underscores the potential of solid-state batteries to play a key role in sustainable energy solutions and highlights the growing interest in this technology as a means to address energy storage challenges and support the transition towards clean and efficient energy systems.

Li-ion based solid-state battery has the largest share of the global solid-state battery market.

The statistic indicating that Li-ion based solid-state batteries have the largest share of the global solid-state battery market suggests that these batteries utilizing lithium-ion technology are the most prevalent among all types of solid-state batteries in terms of market penetration. This can be attributed to the popularity of lithium-ion batteries for their high energy density, longer lifespan, and superior performance compared to other types of batteries. The dominance of Li-ion based solid-state batteries underscores the widespread adoption and acceptance of this technology in various industries, such as electronics, automotive, and renewable energy storage. This statistic implies that the demand and growth potential for Li-ion solid-state batteries are substantial, positioning them as a key player in the evolving landscape of battery technology.

It is estimated that automotive applications will hold a share of over 50% in the solid-state battery market by 2027.

This statistic indicates that automotive applications are projected to dominate the solid-state battery market, capturing a majority share of over 50% by the year 2027. This suggests that the automotive industry will be a key driver of growth and adoption for solid-state batteries, which are seen as a promising technological advancement due to their enhanced safety, energy density, and potential for electric vehicle applications. The rapid expansion of electric vehicles and the increasing demand for cleaner and more sustainable energy solutions are likely contributing factors to this estimated market share for automotive applications within the solid-state battery sector.

The number of patents filed for solid-state batteries has seen a rise of 70% over the last three years.

The statistic indicates that the number of patents filed for solid-state batteries has increased significantly by 70% within the span of the last three years. This sharp rise suggests a growing interest and investment in the development and innovation of solid-state battery technology. Solid-state batteries are considered a promising alternative to traditional lithium-ion batteries due to their potential for higher energy density, improved safety, and longer lifespan. The surge in patent filings signifies a surge in research and development activities within this field, as companies and researchers seek to capitalize on the advantages offered by solid-state batteries and potentially revolutionize the energy storage industry.

Thin-film solid-state batteries are estimated to grow at over 30% CAGR in the forecast period up to 2026.

The statistic “Thin-film solid-state batteries are estimated to grow at over 30% CAGR in the forecast period up to 2026” indicates a significant projected growth rate for thin-film solid-state batteries over the specified period. The Compound Annual Growth Rate (CAGR) of over 30% suggests a rapid expansion in the adoption and production of thin-film solid-state batteries, which are known for their potential in various applications such as consumer electronics, electric vehicles, and renewable energy storage. This forecast highlights the increasing demand for more efficient and compact energy storage solutions, positioning thin-film solid-state batteries as a key player in the future of the battery industry.

Toyota, a leading automotive manufacturer, plans to commercialize solid-state battery technology by the early 2020s.

The statistic that Toyota, a prominent car manufacturer, plans to bring solid-state battery technology to the commercial market by the early 2020s highlights an important development in the automotive industry. Solid-state batteries are considered a significant advancement over traditional lithium-ion batteries due to their potential for higher energy density, increased safety, and longer lifespan. Toyota’s commitment to commercialize this technology indicates their investment in innovation and sustainability, with the aim of revolutionizing the electric vehicle market. This move aligns with the broader industry trend towards electrification and underscores Toyota’s positioning as a leader in driving technological advancements in the automotive sector.

BMW Group plans to have solid-state batteries in series production by the end of this decade.

The statistic “BMW Group plans to have solid-state batteries in series production by the end of this decade” indicates that BMW Group, a leading automotive manufacturer, is aiming to incorporate solid-state battery technology into their vehicles within the next few years. Solid-state batteries are considered a promising advancement in battery technology due to their potential for higher energy density, faster charging times, improved safety, and longer lifespan compared to traditional lithium-ion batteries. By planning to implement solid-state batteries in their vehicles by the end of the current decade, BMW Group is signaling their commitment to innovation and sustainability in the automotive industry, as well as their intention to stay competitive in the market by offering cutting-edge technological solutions to consumers.

Solid-state batteries promise 2–10 times the energy density of lithium-ion batteries.

The statistic “Solid-state batteries promise 2–10 times the energy density of lithium-ion batteries” indicates that solid-state batteries have the potential to store significantly more energy per unit volume or weight compared to traditional lithium-ion batteries. This implies that solid-state batteries could potentially offer longer battery life or greater energy storage capacity for the same size or weight of battery. The range of 2 to 10 times suggests variability in the estimates or potential improvements depending on the specific technology and design of the solid-state batteries. Overall, this statistic highlights the promising advancements in battery technology with solid-state batteries potentially offering a substantial leap in energy density compared to current lithium-ion batteries.

Volkswagen aims to produce solid-state batteries capable of 750km range and 12-minute charging times by 2025.

The statistic provided states that Volkswagen, as an automotive company, has set a goal to develop solid-state batteries that would enable electric vehicles to achieve a range of 750 kilometers on a single charge and be capable of recharging to 80% capacity in just 12 minutes by the year 2025. This ambition signifies a significant advancement in battery technology for electric vehicles, addressing key concerns such as range anxiety and charging time, which are often barriers to widespread adoption of electric vehicles. Achieving this target would not only improve the performance and convenience of electric vehicles but also contribute to reducing carbon emissions and advancing sustainable transportation solutions.

The China solid-state battery market is expected to register a CAGR of over 60% during the forecast period 2020-2025.

The statistic indicates that the China solid-state battery market is projected to experience significant growth over the forecast period of 2020-2025, with a Compound Annual Growth Rate (CAGR) exceeding 60%. This implies a rapid expansion in the adoption and demand for solid-state batteries in China, likely driven by factors such as increasing investments in research and development, growing emphasis on electric vehicles and renewable energy technologies, and enhanced regulatory support for sustainable energy solutions. The high CAGR suggests a strong potential for market players and investors in the solid-state battery sector to capitalize on this burgeoning market trend and capitalize on the anticipated growth opportunities in China.

Solid-state batteries could potentially power electric vehicles for over 800 kilometers (500 miles) on a single charge.

The statistic suggests that solid-state batteries have the capability to provide an impressive driving range of over 800 kilometers (500 miles) on a single charge for electric vehicles. This indicates a significant advancement in battery technology, as current lithium-ion batteries typically offer an average range of around 300-400 kilometers. The increased range of over 800 kilometers could potentially address one of the key limitations of electric vehicles – range anxiety – and make them a more viable option for consumers who may be hesitant to switch from traditional internal combustion engine vehicles. This statistic underscores the potential of solid-state batteries to revolutionize the electric vehicle market by offering improved efficiency and performance.

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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