Title: 2019 Solid State Batteries Market Growth | Trends Analysis Report 2025
1 Solid State Battery Market 2019 Business
Growth, Trend and Forecast 2025
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2Global Market Scenario of Solid State Batteries
Industry
- Solid state battery market is poised to
experience remarkable changes in the years to
come, owing to a wide application base and
growing environmental concerns which have
triggered the demand for electric vehicles. Solid
state batteries provide better safety, longer
life cycle and entail lower cost compared to the
Li-ion batteries, which have helped foster their
demand. Several government initiatives for the
development of more efficient energy solutions
will heavily influence solid state battery
industry trends. - Technological advancements have attracted several
customers towards the consumption of smart
devices, which will stir the adoption of solid
state batteries that are more reliable than most
other alternatives. In fact, the consumer
electronics segment in solid state battery market
is slated to witness a CAGR of more than 30 by
the year 2025. The ability to provide enhanced
storage capacity and short recharging time will
strengthen the industry prospects. These
batteries have solid electrolyte present in them
that ensures enhanced safety when in use,
emerging as a key driver for the use of the
products in digital cameras and smartphones.
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3Continue-
- Private investments for research and development
of energy storage solutions as well as corporate
initiatives will help develop innovative and
long-lasting products. For instance, Ricardo, a
global engineering and environmental consultancy
firm had begun a project in 2018, supposed to
last for 30 months, under a collaboration with
numerous battery technology experts in the U.K.
for the development of solid state battery for
electric vehicles (EVs). Similar efforts across
the region will certainly lead to swift expansion
of Europe solid state battery market size. - The German government had recently announced that
it will be investing about USD 1.2 billion in
order to support the future production activities
for next gen solid state batteries in Europe.
Apparently, the battery consumption from electric
vehicles is slated to reach unprecedented levels
in the next few years. The strategy of the Berlin
government is part of the Battery Alliance
initiative of European Union that has a goal to
boost the share of EUs EV battery manufacturing
capacity, raising it to 30 by the year 2030.
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4UK Solid State Battery Market Size, By Product,
2018 2025 (USD Million)
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-state-battery-market
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5360 Industry Analysis
- Numerous projects through the Faraday Battery
Challenge in U.K. had secured a total of GBP 23
million from the UK government in the third round
of funding. It is supposedly a part of the total
GBP 274 million set aside for investing in
different projects targeting development of EV
technologies. This massive initiative represents
a notable research and development thrust that
will ensure innovative technologies are provided
to EV makers and will positively impact Europe
solid state industry outlook. - The U.S. Department of Energy says that if and
when EV battery costs may fall below 125 per
kWh, it will become cheaper for people to own and
operate electric cars, as compared to
petrol-driven options. Economic viability could
substantially increase the demand for solid state
batteries, particularly since global battery EV
market is estimated to reach USD 425 billion
valuation by 2025. - Eminent industry participants operating across
market comprises of Cymbet, Ilika, BrightVolt,
Front Edge, Altair, Hitachi Zosen, 24M, Solid
Power, Excellatron, Prieto Battery, Robert Bosch,
STMicroelectronics, Planar Energy, QuantumScape
and Toyota. The leading industry players are
focusing toward extensive research development
activities for large-scale commercialization of
product and to increase its application
potential.
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6Industry Background
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7- Competitive Analysis
- Cymbet
- Ilika
- BrightVolt
- Front Edge
- Altair
- Hitachi Zosen
- 24M
- Solid Power
- Excellatron
- Prieto Battery
- Robert Bosch
- STMicroelectronics
- Planar Energy
- QuantumScape and Toyota
- Browse Complete Summary of this report _at_
https//www.gminsights.com/industry-analysis/solid
-state-battery-market
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