Global solid state and polymer battery market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 32% during the forecast period.
Global Solid State and Polymer Battery Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
A solid-state battery is an advanced battery technology that uses both solid electrolyte and solid electrodes. These batteries are next-generation and are emerging batteries, as they offer safety and high performance at low cost.
Solid-state and polymer batteries are receiving more attention in the various markets owing to their distinctive characteristics such as low flammability, no leakage, excellent flexibility, exceptional process ability, high safety, improved thermal stability and extensive electrochemical stability window, which is a major driving factor behind the growth of the market. Increase in research and development activities in the field of solid state batteries, rising adoption of solid state and polymer batteries in wearable electronics applications and in electric vehicles and growing demand for high energy density storage batteries are expected to improve the growth of the market during the forecast period.
However, high costs of solid state and polymer batteries and complex manufacturing process of these batteries are major restraining factors that could hamper the growth of the market.
Global Solid State and Polymer Battery Market: Segmentation Analysis
By industry, automotive segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. A rising adoption of solid-state batteries in electric cars is attributed to the growth of the market. An increasing investment by major automotive OEMs in the development of solid-state batteries is likely to expand growth of the market during the forecast period. For instance:
• One of the major automotive brands such as BMW has invested US$ 20 Mn in solid power to boost up the production and sales of solid-state batteries.
• Panasonic and Toyota formed a joint venture to produce advanced solid-state batteries for electric vehicles.
• Volkswagen invested US$ 100 Mn in a start-up, QuantumScape, to work on the development of solid-state batteries.
Global Solid State and Polymer Battery Market: Regional Analysis
Region wise, Asia pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The economies such as China, Japan, South Korea, and India are the major key contributors behind the growth of the market. The growth is attributed to the rising adoption of solid state and polymer batteries in automotive industry.
Increasing use of solid state and polymer batteries in grid energy storage, portable electrochemical devices and in electric vehicles, massive presence of solid state and polymer battery manufacturers and rising adoption in wearable and consumer electronics applications are driving the growth of the market.
Global Solid State and Polymer Battery Market: Key Development
• In July 2019, Panasonic Corporation in collaboration with Institute of Materials and Systems and Japan Fine Ceramics Centre (JFCC) announced the development of technique to visualize lithium-ion dynamics in all-solid-state batteries.
• In Aug 2018, Blue Solutions produces its first solid-state and cobalt-free Lithium Metal Polymer battery.
The objective of the report is to present a comprehensive analysis of the Global Solid State and Polymer Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Solid State and Polymer Battery Market dynamics, structure by analyzing the market segments and projects the Global Solid State and Polymer Battery Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Solid State and Polymer Battery Market make the report investor’s guide.
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The Scope of Global Solid State and Polymer Battery Market
Global Solid State and Polymer Battery Market, By Cell Type
• Thin Film Solid State and Polymer Battery
• Bulk Solid State and Polymer Battery
Global Solid State and Polymer Battery Market, By Electrolyte Type
Global Solid State and Polymer Battery Market, By Industry
• IT and Telecommunication
• Defense and Aerospace
• Consumer Electronics
Global Solid State and Polymer Battery Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Solid State and Polymer Battery Market, Key Players
• 24m Technologies
• Blue Solutions
• FlashCharge Batteries LLC
• Hitachi Zosen Corporation
• Ilika plc
• Johnson Battery Technologies, Inc
• KalpTree Energy
• Planar Energy
• PolyPlus Battery Company
• Prieto Battery Inc
• Seeo, Inc
• Solid Power
• SolidEnergy Systems
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