Solid-State Car Battery Market

Solid-State Car Battery Market by Vehicle (Passenger Car and Commercial Vehicle), Battery Energy Density (>450 Wh/kg, >450 Wh/kg), Propulsion (BEV, PHEV), Component(Cathode, Anode, and Electrolyte), and Region - Global Forecast to 2030

Report Code: AT 7940 Jul, 2021, by marketsandmarkets.com

[161 Pages Report] The global solid-state car battery market size is projected to grow from 27,070 units in 2025 to 661,724 units by 2030, at a CAGR of 89.5%. 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.

Solid-State Car Battery Market

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Impact of Covid-19 on solid-state car battery market

As this is a future market, Covid-19 had a minimal impact on this market. The impact was mostly due to a small delay in R&D time during the initial pandemic phase when the world went into lockdown. Meanwhile, due to countries showing a higher demand for EV’s during the pandemic, it is expected that overall the market wouldn’t be largely affected. The solid-state car battery market is expected to be launched well after the pandemic, due to which, there warent any material or financial losses in the market.

Market Dynamics:

Driver: Higher capacity in solid-state batteries resulting in increased EV range leading to higher demand

A major concern for EV users is the lower range of vehicle on a single charge. This issue has been a major factor reducing the growth of the EV market. Compared to EVs using conventional lithium ion batteries, those installed with solid-state batteries are expected to have a significantly higher range due to the high battery density. Solid-state batteries can theoretically store twice as much energy as that in lithium ion batteries. Thus, various top EV manufacturers are investing in this technology. An EV installed with a solid-state battery according to various industry experts can have an approximately 600+ mile electric range.

Toyota plans to introduce its EV using SSB with a range of over 320 miles to the market by end 2021. Companies such as Solid Power and QuantumScape plan to develop higher power SSBs in the coming 2-3 years. QuantumScape has announced that its SSB is expected to have an 80% higher range compared to the presently available lithium ion batteries. Thus, this technology is expected to be a major game changer for EV manufacturers. This is expected to significantly improve the performance of EVs compared to ICE vehicles.  Battery size is also expected to be another factor in increasing the range of EVs using SSBs. This is due to the fact that more cells can be attached in the same size SSB as that of the current lithium ion battery. Samsung has developed a prototype SSB with a vehicle range of over 500 miles, the battery size being half that of currently available lithium ion batteries.

Restraint: Higher cost compared to conventional EV batteries

Prices of lithium ion batteries have fallen by 89% during the past 12 years. In 2010, the price of lithium ion batteries was approximately USD 1,100 /kWh while in 2020, it reached approximately USD 137 /kWh. Lithium ion battery prices are expected to reach approximately USD 60 /kWh by 2030 according to many industry experts. In 2021, Tesla announced plans to reduce the prices of lithium ion EV batteries significantly during the next 2-3 years. Solid-state batteries are expected to cost approximately USD 80-90/ kWh by the same time according to various publications. Therefore, by the time solid-state car batteries are mass produced, most higher end EVs are expected to use solid-state batteries while lower end EV producers are expected to prefer using lithium ion batteries. When the prices of solid-state car batteries fall to the same levels to those of lithium ion batteries, higher demand is expected for solid-state batteries, leading to the rapid growth of the market.

Opportunity: Rising demand for EVs expected to drive demand for solid-state batteries

Leading markets for electric vehicles such as China, US, and Germany are investing significantly in electric vehicles and EV charging infrastructure along with research & development for faster and efficient charging methods, longer range EVs, and lower cost batteries. They have also been investing in the development of the solid-state battery technology. Significant investments by automakers are expected to cater to the rising demand for EVs. Countries across North America and Europe along with various Asian countries have adopted measures to reduce emissions during the coming decades and replace their vehicle fleets for lower emission vehicles by 2050. This is expected to lead to significantly high demand for electric vehicles and related industries.

OEMs offer a wide range of vehicles, from small hatchbacks such as Leaf to high-end sedans such as Tesla model 3. The wide range of product offerings has attracted a high number of consumers, resulting in an increased market for electric vehicles. For instance, in January 2018, Ford announced plans to increase planned investments to USD 11 billion by 2022 for the development of EVs. The company plans to introduce 40 EVs by 2022, of which 16 are expected to be fully electric and 24 are expected to be plug-in hybrid vehicles. The investment is higher than a previously announced USD 4.5 billion.

Challenge: Technological barriers in the development of solid-state batteries

Currently, there are various technological barriers for development of solid-state batteries for use in EVs. These challenges include interfacial issues between the electrolyte and electrodes, poor solid-solid contact, and lithium dendrites during the charging and discharging processes. Various OEMs and battery manufacturers have been undertaking efforts to overcome these technological challenges and developing solid-state batteries. There are various other material gaps, processing demands, and design gaps. Some critical gaps in the realization of solid-state batteries have been given below.

A few other problems due to the use of solid-state batteries in EVs include bulk resistance of the solid electrolyte, cyclic stability of the battery, and the electrochemical stability of the system. Once these technical challenges are overcome, solid-state batteries are expected to be ready for use. Various sources estimate the challenges to be overcome by approximately 2025 and begin mass production of solid-state car batteries during the following years. 

Passenger Car segment is estimated to account for the largest market during the forecast period

Asia Pacific is expected to be the market for passenger cars, followed by Europe and North America. This is due to the strong government support for the adoption of electric passenger vehicles in the region. North America to be the fastest-growing region with a fast-growing demand for premium electric vehicles which will use solid-state car batteries in the coming years. The market in Europe is expected to grow in the coming years. This is due to strong emission regulations and a variety of subsidies, grants, and incentives for adopting EVs in countries such as Germany, France, Netherlands, Norway, Sweden, and the UK. The demand for solid-state batteries in electric vehicles will be growing with the increased demand for EVs and the mass production of solid-state car batteries.

BEV’s are estimated to account for the largest market size during the forecast period

The demand for solid-state batteries in BEV is expected to be higher in the coming years compared to PHEVs. This will be mostly due to its high demand for premium BEVs with superior features such as larger battery capacity, faster charging, and better safety features. The prices of these batteries will reduce once their mass production starts on a larger scale and other lower-end BEVs also start using these batteries. The market for solid-state batteries in BEVs in North America is expected to grow at the highest rate due to the presence of top OEMs in the region, along with companies like QuantumScape and Solid Power working on the development of solid-state battery technology.

“Europe is expected to witness significant growth during the forecast period.”

The Asia Pacific region will the largest solid-state car battery market during the forecast period. The Asia Pacific solid-state car 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.

Solid-State Car Battery Market by Region

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Key Market Players

The global solid-state car battery market is dominated by global players such as Toyota Motor Corporation (Japan), Solid Power (US), QuantumScape (US), Samsung SDI (South Korea), and LG Chem (South Korea). These companies have been developing new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth solid-state car battery market.

Scope of the Report

Report Metric

Details

Market size available for years

2023–2030

Base year considered

2020

Forecast period

2023-2030

Forecast units

Volume (Units)

Segments covered

Vehicle Type, Propulsion, Component, Battery Energy Density, and Region.

Geographies covered

North America, Asia Pacific, Europe, and Middle East & Africa.

Companies Covered

Toyota Motor Corporation (Japan), Solid Power (US), QuantumScape (US), Samsung SDI (South Korea) and LG Chem (South Korea).
A total of 25 major company profiles covered and provided.

This research report categorizes the solid-state car battery market based on Vehicle, Propulsion, Component, Battery Energy Density, and Region.

Based on Vehicle Type:

  • Passenger Car
  • Commercial vehicle

Based on Propulsion:

  • BEV
  • PHEV

Based on Battery Energy Density:

  • <450 Wh/kg
  • >450 Wh/kg

Based on Component:

  • Cathode
  • Anode
  • Electrolyte

Based on the region:

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Norway
    • Spain
    • UK
    • The Netherlands
  • Middle East & Africa
    • UAE
    • South Africa
    • Egypt

Recent Developments

  • 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 January 2021, CATL announced the development of solid-state batteries for use in EVs in the coming years. Its batteries will come with battery densities of 200 Wh/kg, 300 Wh/kg, and 350 Wh/kg.
  • 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.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 17)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                    TABLE 1 INCLUSIONS & EXCLUSIONS IN THE SOLID-STATE CAR BATTERY MARKET
    1.3 MARKET SCOPE
           FIGURE 1 MARKETS COVERED
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 PACKAGE SIZE
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 21)
    2.1 RESEARCH DATA
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.1 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 5 GLOBAL SOLID-STATE CAR BATTERY MARKET SIZE: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR THE SOLID-STATE CAR BATTERY MARKET: TOP-DOWN APPROACH
                    FIGURE 7 SOLID-STATE CAR BATTERY MARKET: RESEARCH DESIGN & METHODOLOGY
                    FIGURE 8 RESEARCH APPROACH: SOLID-STATE CAR BATTERY MARKET
                    FIGURE 9 SOLID-STATE CAR BATTERY MARKET: RESEARCH DESIGN & METHODOLOGY – DEMAND SIDE
           2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDE
    2.4 DATA TRIANGULATION
           FIGURE 10 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 RESEARCH ASSUMPTIONS
    2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 35)
    FIGURE 11 SOLID-STATE CAR BATTERY MARKET OVERVIEW
    FIGURE 12 SOLID-STATE CAR BATTERY MARKET, BY REGION, 2025–2030 (UNITS)
    FIGURE 13 SOLID-STATE BATTERY TRENDS WOULD CREATE A SHIFT IN REVENUE MIX IN THE COMING YEARS
    FIGURE 14 THE BATTERY ELECTRIC VEHICLES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2025–2030)

4 PREMIUM INSIGHTS (Page No. - 40)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE SOLID-STATE CAR BATTERY MARKET
           FIGURE 15 INCREASING DEMAND FOR LONG-RANGE ZERO-EMISSION COMMUTING TO DRIVE THE MARKET
    4.2 SOLID-STATE CAR BATTERY MARKET GROWTH RATE, BY REGION
           FIGURE 16 ASIA PACIFIC PROJECTED TO BE THE LARGEST MARKET DURING THE FORECAST PERIOD
    4.3 AUTOMOTIVE SOLID-STATE BATTERY MARKET, BY VEHICLE TYPE
           FIGURE 17 THE PASSENGER CAR SEGMENT TO BE A LARGER SEGMENT DURING THE FORECAST PERIOD (2025–2030)
    4.4 SOLID-STATE CAR BATTERY MARKET, BY PROPULSION
           FIGURE 18 THE BATTERY ELECTRIC VEHICLE SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2025–2030)
    4.5 SOLID-STATE CAR BATTERY MARKET, BY BATTERY ENERGY DENSITY
           FIGURE 19 THE <450 WH/KG SEGMENT TO BE A LARGER SEGMENT DURING THE FORECAST PERIOD (2025–2030)

5 MARKET OVERVIEW (Page No. - 43)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 20 SOLID-STATE CAR BATTERY MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Faster charging compared to lithium-ion batteries while using the same EV charging mode is expected to increase the demand for solid-state car batteries
                                FIGURE 21 EV CHARGING TIME OF LITHIUM-ION BATTERIES
                    5.2.1.2 Higher capacity in solid-state batteries resulting in increased EV range leading to higher demand
                                TABLE 2 COMPARISON BETWEEN LITHIUM ION AND SOLID-STATE BATTERIES
                    5.2.1.3 Lower chance of overheating as compared to lithium-ion batteries makes solid-state batteries safer
                                TABLE 3 ADVANTAGES OFFERED BY SOLID-STATE BATTERIES OVER LITHIUM-ION BATTERIES IN EVS
           5.2.2 RESTRAINTS
                    5.2.2.1 Higher cost compared to conventional EV batteries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand for EVs expected to drive the demand for solid-state batteries
                                FIGURE 22 GLOBAL SALES OF BATTERY ELECTRIC VEHICLES, 2017-2020 (THOUSAND UNITS)
                    5.2.3.2 Government initiatives pertaining to EVs expected to increase the demand for solid-state batteries
                                FIGURE 23 EUROPEAN GOVERNMENT SUBSIDY SCHEMES FOR EVS
                    5.2.3.3 Increase in R&D investments expected to lead to an increase in demand for solid-state batteries
           5.2.4 CHALLENGES
                    5.2.4.1 Technological barriers in the development of solid-state batteries
                                TABLE 4 CRITICAL GAPS IN THE DEVELOPMENT OF SOLID-STATE BATTERIES FOR USE IN AUTOMOTIVE
                    5.2.4.2 Hard ceramics used for the development of solid-state batteries are brittle and have problems with mechanical stress
                                TABLE 5 SOLID-STATE CAR BATTERY MARKET: IMPACT OF MARKET DYNAMICS
    5.3 PORTER’S FIVE FORCES
           FIGURE 24 PORTER’S FIVE FORCES: SOLID-STATE CAR BATTERY MARKET
           TABLE 6 SOLID-STATE CAR BATTERY MARKET: IMPACT OF PORTER’S 5 FORCES
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 RIVALRY AMONG EXISTING COMPETITORS
    5.4 SOLID-STATE CAR BATTERY MARKET ECOSYSTEM
           FIGURE 25 SOLID-STATE CAR BATTERY MARKET: ECOSYSTEM ANALYSIS
           5.4.1 EV CHARGING PROVIDERS
           5.4.2 TIER 1 SUPPLIERS (EV BATTERY SUPPLIERS)
           5.4.3 OEMS
           5.4.4 END USERS
                    TABLE 7 SOLID-STATE CAR BATTERY MARKET: ROLE OF COMPANIES IN THE ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS
           FIGURE 26 VALUE CHAIN ANALYSIS OF SOLID-STATE CAR BATTERY MARKET
    5.6 PATENT ANALYSIS
           TABLE 8 IMPORTANT PATENT REGISTRATIONS RELATED TO THE SOLID-STATE CAR BATTERY MARKET
    5.7 CASE STUDY
           5.7.1 A PERFORMANCE AND COST OVERVIEW OF SELECTED SOLID-STATE ELECTROLYTES: RACE BETWEEN POLYMER ELECTROLYTES AND INORGANIC SULFIDE ELECTROLYTES
    5.8 REGULATORY OVERVIEW
           5.8.1 NETHERLANDS
                    TABLE 9 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES
                    TABLE 10 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.8.2 GERMANY
                    TABLE 11 GERMANY: ELECTRIC VEHICLE INCENTIVES
                    TABLE 12 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.8.3 FRANCE
                    TABLE 13 FRANCE: ELECTRIC VEHICLE INCENTIVES
                    TABLE 14 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.8.4 UK
                    TABLE 15 UK: ELECTRIC VEHICLE INCENTIVES
                    TABLE 16 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.8.5 CHINA
                    TABLE 17 CHINA: ELECTRIC VEHICLE INCENTIVES
                    TABLE 18 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.8.6 US
                    TABLE 19 US: ELECTRIC VEHICLE INCENTIVES
                    TABLE 20 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
    5.9 SOLID-STATE CAR BATTERY MARKET, SCENARIOS (2025–2030)
           5.9.1 SOLID-STATE CAR BATTERY MARKET, MOST LIKELY SCENARIO
                    FIGURE 27 SOLID-STATE CAR BATTERY MARKET – FUTURE TRENDS & SCENARIO, 2025–2030 (THOUSAND UNITS)
           5.9.2 SOLID-STATE CAR BATTERY MARKET, OPTIMISTIC SCENARIO
                    TABLE 21 SOLID-STATE CAR BATTERY MARKET (OPTIMISTIC), BY REGION, 2025–2030 (THOUSAND UNITS)
           5.9.3 SOLID-STATE CAR BATTERY MARKET, PESSIMISTIC SCENARIO
                    TABLE 22 SOLID-STATE CAR BATTERY MARKET (PESSIMISTIC), BY REGION, 2025–2030 (THOUSAND UNITS)

6 SOLID-STATE CAR BATTERY MARKET, BY COMPONENT (Page No. - 67)
    6.1 INTRODUCTION
           TABLE 23 SOLID-STATE CAR BATTERY MARKET: CURRENT DEVELOPMENT SCENARIO
    6.2 CATHODE
           6.2.1 OXIDE CATHODE
           6.2.2 PHOSPHATE CATHODE
    6.3 ELECTROLYTE
           6.3.1 POLYMER ELECTROLYTE
           6.3.2 CERAMIC ELECTROLYTE
                    FIGURE 28 COMPARISON OF ELECTROLYTES FOR SSBS
    6.4 ANODE
           6.4.1 CARBON-BASED ANODE
           6.4.2 LITHIUM METAL-BASED ANODE
    6.5 KEY PRIMARY INSIGHTS

7 AUTOMOTIVE SOLID-STATE BATTERY MARKET, BY VEHICLE TYPE (Page No. - 71)
    7.1 INTRODUCTION
           TABLE 24 AUTOMOTIVE SOLID-STATE BATTERY MARKET, BY VEHICLE TYPE, 2023–2030 (UNITS)
           FIGURE 29 THE PASSENGER CARS SEGMENT IS EXPECTED TO LEAD THE MARKET FROM 2025–2030
    7.2 OPERATIONAL DATA
           7.2.1 ASSUMPTIONS
                    TABLE 25 ASSUMPTIONS: BY VEHICLE TYPE
    7.3 RESEARCH METHODOLOGY
    7.4 PASSENGER CARS
           7.4.1 GROWING EMISSION NORMS WILL BOOST THE DEMAND FOR PASSENGER CARS
                    TABLE 26 AUTOMOTIVE SOLID-STATE BATTERY MARKET IN PASSENGER CARS, BY REGION, 2023–2030 (UNITS)
    7.5 COMMERCIAL VEHICLES
           7.5.1 GROWTH OF E-COMMERCE AND LOGISTICS WILL BOOST THIS SEGMENT
                    TABLE 27 AUTOMOTIVE SOLID-STATE CAR BATTERY MARKET IN COMMERCIAL VEHICLES, BY REGION, 2023–2030 (UNITS)
    7.6 KEY PRIMARY INSIGHTS

8 SOLID-STATE CAR BATTERY MARKET, BY PROPULSION (Page No. - 76)
    8.1 INTRODUCTION
           TABLE 28 SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
           FIGURE 30 BEV SEGMENT IS EXPECTED TO LEAD THE MARKET DURING THE FORECAST PERIOD (2025-2030)
    8.2 OPERATIONAL DATA
           8.2.1 ASSUMPTIONS
                    TABLE 29 ASSUMPTIONS: BY PROPULSION TYPE
    8.3 RESEARCH METHODOLOGY
    8.4 BATTERY ELECTRIC VEHICLE (BEV)
           8.4.1 INCREASE IN VEHICLE RANGE PER CHARGE WILL INCREASE THE DEMAND FOR SOLID-STATE CAR BATTERIES IN ELECTRIC VEHICLES
                    TABLE 30 BEV: SOLID-STATE CAR BATTERY MARKET, BY REGION, 2023–2030 (UNITS)
    8.5 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
           8.5.1 GOVERNMENTS PROVIDING TAX BENEFITS AND INCENTIVES WILL BOOST THIS SEGMENT
                    TABLE 31 PHEV: SOLID-STATE CAR BATTERY MARKET, BY REGION, 2023–2030 (UNITS)
    8.6 KEY PRIMARY INSIGHTS

9 SOLID-STATE CAR BATTERY MARKET, BY BATTERY ENERGY DENSITY (Page No. - 81)
    9.1 INTRODUCTION
           TABLE 32 SOLID-STATE CAR BATTERY MARKET, BY BATTERY DENSITY, 2023–2030 (UNITS)
           FIGURE 31 <450 WH/KG SEGMENT IS EXPECTED TO LEAD THE MARKET DURING THE FORECAST PERIOD (2025-2030)
    9.2 OPERATIONAL DATA
           9.2.1 ASSUMPTIONS
           TABLE 33 ASSUMPTIONS: BY ENERGY DENSITY
    9.3 RESEARCH METHODOLOGY
    9.4 <450 WH/KG
           9.4.1 USE OF SOLID-STATE BATTERIES WITH ENERGY DENSITY <450 WH/KG IN LOWER-END ELECTRIC VEHICLES WILL BOOST THIS SEGMENT
           TABLE 34 <450 WH/KG: SOLID-STATE CAR BATTERY MARKET, BY REGION, 2023–2030 (UNITS)
    9.5 >450 WH/KG
           9.5.1 DEMAND FOR HIGH-END VEHICLES WILL BOOST THIS SEGMENT
           TABLE 35 >450 WH/KG: SOLID-STATE BATTERY MARKET, BY REGION, 2023–2030 (UNITS)
    9.6 KEY PRIMARY INSIGHTS

10 SOLID-STATE CAR BATTERY MARKET, BY REGION (Page No. - 86)
     10.1 INTRODUCTION
             FIGURE 32 ASIA PACIFIC IS ESTIMATED TO BE THE LARGEST MARKET FOR SOLID-STATE CAR BATTERIES DURING THE FORECAST PERIOD (2025–2030)
             TABLE 36 SOLID-STATE CAR BATTERY MARKET, BY REGION, 2023–2030 (UNITS)
     10.2 ASIA PACIFIC
             FIGURE 33 ASIA PACIFIC: SOLID-STATE CAR BATTERY MARKET SNAPSHOT, 2025-2030
             TABLE 37 ASIA PACIFIC: SOLID-STATE CAR BATTERY MARKET, BY COUNTRY, 2023–2030 (UNITS)
             10.2.1 CHINA
                        10.2.1.1 Increased investment in charging infrastructure will uplift the market
                                     TABLE 38 CHINA: CURRENT AND UPCOMING PROJECTS FOR SOLID-STATE BATTERIES
                                     TABLE 39 CHINA: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.2.2 INDIA
                        10.2.2.1 Government initiatives to boost the demand
                                     TABLE 40 INDIA: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.2.3 JAPAN
                        10.2.3.1 Advancement in battery technology will boost the demand
                                     FIGURE 34 JAPAN: PATENT APPLICATIONS FOR SSB BY TOYOTA AND OTHER KEY PLAYERS, 2014–2019
                                     TABLE 41 JAPAN: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.2.4 SOUTH KOREA
                        10.2.4.1 Increased investment in electric vehicles will boost the demand
                                     TABLE 42 SOUTH KOREA: TOP BATTERY SUPPLIERS AND CONSUMER OEMS
                                     TABLE 43 SOUTH KOREA: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
     10.3 EUROPE
             FIGURE 35 EUROPE: GERMANY TO BE THE LEADING SOLID-STATE CAR BATTERY MARKET
             TABLE 44 EUROPE: SOLID-STATE CAR BATTERY MARKET, BY COUNTRY, 2023–2030 (UNITS)
             10.3.1 FRANCE
                        10.3.1.1 Government offering purchase grants will boost the demand
                                     TABLE 45 FRANCE: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.3.2 GERMANY
                        10.3.2.1 Rise in sales of hybrid vehicles by domestic players will boost the demand
                                     TABLE 46 GERMANY: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.3.3 NETHERLANDS
                        10.3.3.1 Government focus on greener vehicles will boost the demand
                                     TABLE 47 NETHERLANDS: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.3.4 NORWAY
                        10.3.4.1 Emergence of e-mobility will boost the demand
                                     TABLE 48 NORWAY: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.3.5 UK
                        10.3.5.1 Country’s investment toward ultra-low emission vehicles will boost the demand
                                     TABLE 49 UK: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.3.6 SPAIN
                        10.3.6.1 Increasing investments in EVs will uplift the market
                                     TABLE 50 SPAIN: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
     10.4 NORTH AMERICA
             FIGURE 36 NORTH AMERICA: SOLID-STATE CAR BATTERY MARKET SNAPSHOT (2025-2030)
             TABLE 51 NORTH AMERICA: SOLID-STATE CAR BATTERY MARKET, BY COUNTRY, 2023–2030 (UNITS)
             10.4.1 CANADA
                        10.4.1.1 Development in electric vehicles infrastructure boosting the demand
                                     TABLE 52 CANADA: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.4.2 US
                        10.4.2.1 Increasing production capacity of electric vehicles will uplift the market
                                     TABLE 53 US: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
     10.5 MIDDLE EAST & AFRICA
             FIGURE 37 THE UAE TO BE THE LARGEST MARKET IN THE MEA REGION
             TABLE 54 MIDDLE EAST & AFRICA: SOLID-STATE CAR BATTERY MARKET, BY COUNTRY, 2023–2030 (UNITS)
             10.5.1 UAE
                        10.5.1.1 Government support will increase the demand for EVs in the market
                                     TABLE 55 UAE: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.5.2 EGYPT
                        10.5.2.1 Increase in development in electric vehicles’ infrastructure boosting the demand
                                     TABLE 56 EGYPT: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)
             10.5.3 SOUTH AFRICA
                        10.5.3.1 Increasing EV imports and popularization of EV charging stations to fuel the EV market growth
                                     TABLE 57 SOUTH AFRICA: SOLID-STATE CAR BATTERY MARKET, BY PROPULSION TYPE, 2023–2030 (UNITS)

11 COMPETITIVE LANDSCAPE (Page No. - 109)
     11.1 OVERVIEW
     11.2 MARKET RANKING ANALYSIS FOR SOLID-STATE CAR BATTERIES
             FIGURE 38 MARKET RANKING ANALYSIS, 2021
     11.3 COMPETITIVE SCENARIO
             11.3.1 DEALS
                        TABLE 58 DEALS, 2018–2021
             11.3.2 NEW PRODUCT DEVELOPMENTS
                        TABLE 59 NEW PRODUCT DEVELOPMENTS, 2018–2021
     11.4 COMPETITIVE LEADERSHIP MAPPING FOR THE SOLID-STATE CAR BATTERY MARKET
             11.4.1 STARS
             11.4.2 EMERGING LEADERS
             11.4.3 PERVASIVE
             11.4.4 EMERGING COMPANIES
                        FIGURE 39 SOLID-STATE CAR BATTERY MARKET: COMPETITIVE LEADERSHIP MAPPING FOR TOP SOLID-STATE CAR BATTERY MARKET MANUFACTURERS, 2021
                        TABLE 60 SOLID-STATE CAR BATTERY MARKET: COMPANY FOOTPRINT FOR TOP SOLID-STATE CAR BATTERY COMPANIES, 2021
                        TABLE 61 SOLID-STATE CAR BATTERY MARKET: COMPANY APPLICATION FOOTPRINT FOR TOP SOLID-STATE CAR BATTERY COMPANIES, 2021
                        TABLE 62 SOLID-STATE CAR BATTERY MARKET: REGIONAL FOOTPRINT FOR TOP SOLID-STATE CAR BATTERY COMPANIES, 2021
                        FIGURE 40 SOLID-STATE CAR BATTERY MARKET: COMPETITIVE LEADERSHIP MAPPING FOR NEW PLAYERS, 2021
     11.5 RIGHT TO WIN, 2018-2021
                        TABLE 63 RIGHT TO WIN, 2018-2021

12 COMPANY PROFILES (Page No. - 121)
(Business overview, Products offered, Recent developments & MnM View)*
     12.1 KEY PLAYERS
             12.1.1 TOYOTA MOTOR CORPORATION
                        TABLE 64 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
                        FIGURE 41 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
                        FIGURE 42 TOYOTA MOTOR CORPORATION: SOLID-STATE CAR BATTERY PATENT COUNT
                        TABLE 65 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED
                        TABLE 66 TOYOTA MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS
                        TABLE 67 TOYOTA MOTOR CORPORATION: DEALS
             12.1.2 SOLID POWER
                        TABLE 68 SOLID POWER: BUSINESS OVERVIEW
                        TABLE 69 SOLID POWER: PRODUCTS OFFERED
                        TABLE 70 SOLID POWER: NEW PRODUCT DEVELOPMENTS
                        TABLE 71 SOLID POWER: DEALS
             12.1.3 QUANTUMSCAPE
                        TABLE 72 QUANTUMSCAPE: BUSINESS OVERVIEW
                        TABLE 73 QUANTUMSCAPE: PRODUCTS OFFERED
                        TABLE 74 QUANTUMSCAPE: NEW PRODUCT DEVELOPMENTS
                        TABLE 75 QUANTUMSCAPE: DEALS
             12.1.4 SAMSUNG SDI
                        TABLE 76 SAMSUNG SDI: BUSINESS OVERVIEW
                        FIGURE 43 SAMSUNG SDI: COMPANY SNAPSHOT
                        FIGURE 44 SAMSUNG SDI: SOLID-STATE CAR BATTERY PATENT COUNT
                        TABLE 77 SAMSUNG SDI: PRODUCTS OFFERED
                        TABLE 78 SAMSUNG SDI: NEW PRODUCT DEVELOPMENTS
                        TABLE 79 SAMSUNG SDI: DEALS
             12.1.5 LG CHEM
                        TABLE 80 LG CHEM: BUSINESS OVERVIEW
                        FIGURE 45 LG CHEM: COMPANY SNAPSHOT
                        FIGURE 46 LG CHEM: SOLID-STATE CAR BATTERY PATENT COUNT
                        TABLE 81 LG CHEM: PRODUCTS OFFERED
                        TABLE 82 LG CHEM: NEW PRODUCT DEVELOPMENTS
             12.1.6 ILIKA
                        TABLE 83 ILIKA: BUSINESS OVERVIEW
                        FIGURE 47 ILIKA: COMPANY SNAPSHOT
                        FIGURE 48 ILIKA: SOLID-STATE CAR BATTERY PATENT COUNT
                        TABLE 84 ILIKA: PRODUCTS OFFERED
                        TABLE 85 ILIKA: NEW PRODUCT DEVELOPMENTS
                        TABLE 86 ILIKA: DEALS
             12.1.7 BRIGHTVOLT
                        TABLE 87 BRIGHTVOLT: BUSINESS OVERVIEW
                        TABLE 88 BRIGHTVOLT: PRODUCTS OFFERED
             12.1.8 PANASONIC
                        TABLE 89 PANASONIC: BUSINESS OVERVIEW
                        FIGURE 49 PANASONIC: COMPANY SNAPSHOT
                        FIGURE 50 PANASONIC: SOLID-STATE CAR BATTERY PATENT COUNT
                        TABLE 90 PANASONIC: PRODUCTS OFFERED
                        TABLE 91 PANASONIC: NEW PRODUCT DEVELOPMENTS
                        TABLE 92 PANASONIC: DEALS
             12.1.9 CATL
                        TABLE 93 CATL: BUSINESS OVERVIEW
                        FIGURE 51 CATL: COMPANY SNAPSHOT
                        TABLE 94 CATL: PRODUCTS OFFERED
                        TABLE 95 CATL: NEW PRODUCT DEVELOPMENTS
                        TABLE 96 CATL: DEALS
             12.1.10 IONIQ MATERIALS
                        TABLE 97 IONIQ MATERIALS: BUSINESS OVERVIEW
                        TABLE 98 IONIQ MATERIALS: PRODUCTS OFFERED
                        TABLE 99 IONIQ MATERIALS: DEALS
             12.1.11 NORTHVOLT
                        TABLE 100 NORTHVOLT: BUSINESS OVERVIEW
                        TABLE 101 NORTHVOLT: PRODUCTS OFFERED
                        TABLE 102 NORTHVOLT: NEW PRODUCT DEVELOPMENTS
                        TABLE 103 NORTHVOLT: DEALS
             12.1.12 CYMBET
                        TABLE 104 CYMBET: BUSINESS OVERVIEW
                        TABLE 105 CYMBET: PRODUCTS OFFERED
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     12.2 OTHER PLAYERS
             12.2.1 GENERAL MOTORS
                        TABLE 106 GENERAL MOTORS: BUSINESS OVERVIEW
             12.2.2 RENAULT GROUP
                        TABLE 107 RENAULT GROUP: BUSINESS OVERVIEW
             12.2.3 STELLANTIS N.V.
                        TABLE 108 STELLANTIS N.V.: BUSINESS OVERVIEW
             12.2.4 KIA MOTORS
                        TABLE 109 KIA MOTORS: BUSINESS OVERVIEW
             12.2.5 MITSUBISHI MOTORS
                        TABLE 110 MITSUBISHI MOTORS: BUSINESS OVERVIEW
             12.2.6 VOLKSWAGEN AG
                        TABLE 111 VOLKSWAGEN AG: BUSINESS OVERVIEW
             12.2.7 FORD MOTOR COMPANY
                        TABLE 112 FORD MOTOR COMPANY: BUSINESS OVERVIEW
             12.2.8 BYD
                        TABLE 113 BYD: BUSINESS OVERVIEW
             12.2.9 HYUNDAI GROUP
                        TABLE 114 HYUNDAI GROUP: BUSINESS OVERVIEW
             12.2.10 SK INNOVATION
                        TABLE 115 SK INNOVATION: BUSINESS OVERVIEW
             12.2.11 DYSON
                        TABLE 116 DYSON: BUSINESS OVERVIEW
             12.2.12 PRIETO BATTERY
                        TABLE 117 PRIETO BATTERY: BUSINESS OVERVIEW
             12.2.13 STOREDOT
                        TABLE 118 STOREDOT: BUSINESS OVERVIEW

13 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 154)
     13.1 CHINA, JAPAN, SOUTH KOREA, GERMANY, FRANCE, THE UK, AND THE US ARE KEY FOCUS AREAS FOR THE SOLID-STATE CAR BATTERY MARKET
     13.2 TECHNOLOGICAL ADVANCEMENTS TO HELP DEVELOP A MARKET FOR THE PASSENGER CAR SEGMENT
     13.3 CONCLUSION

14 APPENDIX (Page No. - 155)
     14.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

The study involved 4 major activities in estimating the current size of the solid-state car battery market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down approach was employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used in estimating the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of automobile OEMs, Publications of EV batteries, Solid-state battery associations, American Automobile Association (AAA), country-level automotive associations and European Alternative Fuels Observatory (EAFO)], automobile magazines, articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases (for example, Marklines, and Factiva) have been used to identify and collect information useful for an extensive commercial study of the global solid-state car battery market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the solid-state car battery market scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, and trade associations, institutes, R&D centers, OEMs/vehicle manufacturers) and supply (battery manufacturers, and raw material suppliers) side across four major regions, namely, North America, Europe, Asia Pacific, and the Middle East & Africa. 21% of the experts involved in primary interviews were from the demand side, and 79% were from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, has led to the findings delineated in the rest of this report. Following is the breakdown of primary respondents—

Solid-State Car Battery Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up approach was used to estimate and validate the total size of the solid-state car battery market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s future supply chain and market size, in terms of volume, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To segment and forecast the solid-state car battery market, in terms of volume (units)
  • To define, describe, and forecast the solid-state car battery market based on vehicle type, propulsion, Components, Battery Energy Density, and region
  • To analyze the regional markets for growth trends, prospects, and their contribution to the overall market
  • To segment and forecast the solid-state car battery market, by vehicle type (passenger cars and commercial vehicles)
  • To segment and forecast the solid-state car battery market, by propulsion (BEV, PHEV)
  • To segment the solid-state car battery market providing qualitative data on the basis of component (Cathode, Anode, Electrolyte)
  • To segment and forecast the solid-state car battery market, by Battery energy density (<450 Wh/kg, >450 Wh/kg)
  • To forecast the solid-state car battery market with respect to the key regions, namely, North America, Europe, Asia Pacific, and Middle East & Africa.
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market
  • To analyze opportunities for stakeholders and details of the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their respective market share and core competencies
  • To analyze recent developments, alliances, joint ventures, product innovations, and mergers & acquisitions in the solid-state car battery market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • Solid-state Car Battery Market, By Battery Density Type At Country Level
  • Solid-state Car Battery Market, By Vehicle Type At Country Level
  • Company Information
  • Profiling of Additional Market Players (Up to 3)
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Report Code
AT 7940
Published ON
Jul, 2021
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