Solid State Battery
IndustryARC has published a report on the Solid State Battery Market. This report covers the segments of this market, which include Consumer electronics, Electric vehicles, Energy storage, Wearables and Healthcare devices. The different capacities of these batteries are divided into two, below and above 20 mAh. The below-20 mAh segment is expected to grow at the highest CAGR during the forecast period. Its application range includes small, low-power and high-power applications.
The global solid state battery market is segmented by region, with the U.S. and Europe sub-segments grouped into France, Germany, Italy, Spain, and Rest of Europe. The Asia Pacific market is further segmented into China, India, South Korea, and Japan. The Latin American market is further divided into Mexico and Brazil. The Middle East & Africa region is further split into GCC and South Africa.
The Asia-Pacific region is one of the fastest-growing regions in the solid state battery market. The growth of this region is attributed to the growing awareness about clean energy technologies and growing demand for energy storage systems. Many leading players in the market are investing heavily in R&D to make their products more efficient. Some of the leading companies in this region include Cymbet Corporation, StmicroElectronics N.V., Brightvolt, Inc., Excellatron Solid State, LLC, QuantumEscape, and Applied Materials.
Solid State Battery Market Size
The global solid state battery market is projected to reach USD 590.9 million by 2020, growing at a CAGR of 36.0% from 2016 to 2027. Rising research and development activities are expected to drive the market growth in the next few years. In addition to these factors, rising adoption of electronic gadgets and the increasing deployment of electric vehicles are driving the market for solid state batteries. Their advantages include higher energy density, low flammability, and electrochemical stability.
The global solid state battery market is expected to reach USD 100 million by 2025. During the forecast period, the market is expected to grow at a CAGR of 36.0%. The growth of the solid state battery market is mainly due to rising research and development activities. However, the industry is a highly competitive one. It is important to choose the right company for your needs. You can start looking for the right company in the United States by using the Google search bar.
Regionally, the global solid state battery market is segmented by country. The U.S. is the largest market, while Europe is split into France, Germany, Italy and Spain. Moreover, the Asia Pacific region is subdivided into North America, the Middle East, and the African region. These regions are further segmented by end-use industry. The research is essential for future market growth. This report will help you decide how to proceed with your investments and plans for your business.