Advancement
in technology and materials has substantially increased the
performance and reliability of battery systems. The liquid
electrolytes used in conventional lithium-ion batteries are replaced
by lithium metal electrodes in solid state batteries. As a result the
solid state batteries are more efficient and can store more energy
than conventional batteries. The rapidly developing consumer
electronics and sensor market is the major market for solid state
batteries. These end-user industries require high performing and long
lasting batteries for effective working of their systems. The solid
state batteries are used in a wide variety of wireless applications.
These
batteries have also been deployed in a wide range of energy storage
applications. The market for solid state batteries is anticipated to
grow at a substantial rate in future owing to increasing requirement
of efficient batteries from the consumer electronics segment. It is
projected that major manufacturing companies in this industry are
working towards large scale commercialization of solid state
batteries.
The
demand for efficient batteries and growing consumer electronics
market are the major drivers attracting investment in solid state
batteries market. The solid state batteries are safe devices when
compared to conventional batteries as flammable liquid electrolyte is
not used in these batteries. The automobile companies are also
investing significant amounts in efficient solid state batteries for
the electric vehicles manufactured by them. The smartphone industry
is a major end-user of these batteries and the market for these
batteries is anticipated to further grow owing to development in
wireless technologies. However, these batteries are priced very high
when compared to conventional batteries which is a major restraint
for the growth of this market. Developing economical solid state
batteries for a wide range of applications is a major challenge for
the industry.
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The
market for solid state batteries can be segmented on the basis of
end-user industries and type. The major end-user segments of this
market are consumer electronics, sensor technologies, automobile
industry and others. The consumer electronics and sensor technologies
account for the major portion of the market share in terms of
installations. On the basis of type solid state battery market can be
segmented as Lithium Ion batteries, Nickel- Cadmium batteries and
Lead acid batteries. The Lithium –Ion batteries account for the
major for the major portion of the market share in this segment.
Solid
state batteries are gaining popularity across the world. The
efficient designs and improved performance has led manufacturing
companies to increasingly invest in this technology. The smartphone
and sensor industry is the major consumer segment of this technology.
Asia Pacific is the most developing market in terms of smartphone
users and manufacturers. South Korea and China has emerged as major
manufacturing hubs in the consumer electronics segment. These
countries are major markets for solid state batteries in the Asia
Pacific region. Major technological innovators are trying to capture
this market and thus Asia Pacific will provide growth opportunities
to solid state battery market. Europe and North America are also
major markets for this industry. The manufacturing companies in these
regions are substantially investing in developing more efficient
solid state batteries.
Some
of the major companies in the solid state batteries market are Ilika
plc., Excellatron Solid State, LLC, Cymbet Corporation and Solid
Power, Inc.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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the coming years. It includes analysis of recent developments in
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and new entrants along with detailed value chain analysis.
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