Solid state battery is an advanced type of battery which uses solid electrolytes along with solid electrodes instead of the liquid electrolytes and polymer electrolytes found in traditional lithium ion and lithium polymer batteries. The solid state and polymer batteries offers several advantages over the tradition liquid or electrolyte batteries which mainly includes improved battery life, increased power delivery per unit weight, high conductivity of the electrolytes, and some others. Although, solid state batteries are finding increased applications in hybrid automotive and unmanned aerial vehicles, these batteries are analyzed to be in introduction phase for applications in consumer electronics such as smartphones and smart wearable and are anticipated to capture the market during the latter half of the forecast period.
Market Dynamics: Global Solid State and Polymer Battery Market
The Solid State and polymer battery market is primarily driven by the increased adoption in hybrid vehicles or electric vehicles, and unmanned aerial vehicles majorly in developed European countries such as Germany, France, and Poland, and also in the United States of America and Canada. Moreover, Solid State batteries offers a compact form factor and can be can be made thinner, flexible, and delivers more energy per unit weight as compared to the conventional Li-ion counterparts. Moreover, Solid State batteries does not incorporate the liquid electrolytes which opens doors in applications demanding high safety, and long lasting battery life.
Market Segmentation: Global Solid State and Polymer Battery Market
The global Solid State and polymer battery market has been segmented based on cell type, type of electrolyte, end-use industry, and region. Based on cell type, the Solid State and polymer battery market can be classified into thin film Solid State and polymer battery, and bulk Solid State and polymer battery. Based on type of electrolyte, the Solid State and polymer battery market can be segmented into Argyrodite, Garnet, Li-halides, Li-hydrides, NASICON-like, Perovskite, and others. Based on end-use industry, the market can be segmented into IT and Telecommunication, automotive, defense and aerospace, consumer electronics, and others. In terms of region, the global Solid State and polymer battery market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific and Europe are anticipated to dominate the global Solid State and polymer battery market due to the presence of leading Solid State and polymer battery manufacturers, in these regions. Moreover, increased adoption of hybrid automobiles and initiatives taken by governments towards adoption of clean energy sources are anticipated to be silent factors supplementing the growth of Solid State and polymer battery market in Europe and North America. The market in Asia Pacific is anticipated to expand at a prominent pace owing to development of end-use industries such as, automotive, and healthcare, in emerging economies such as India, Australia and China, in the region. Moreover, amongst the type segment of Solid State and polymer battery market, the thin film battery segment is anticipated to witness prominent growth during the forecast period.
Prominent Market Players
Key players operating in the global Solid State and polymer battery market include 24m Technologies, Blue Solutions, EMPA, FlashCharge Batteries LLC., Hitachi Zosen Corporation, Ilika plc, Johnson Battery Technologies, Inc., KalpTree Energy, Planar Energy, PolyPlus Battery Company, Prieto Battery Inc., Sakti, QuantumScape, Seeo, Inc., Solid Power, SolidEnergy Systems, and some others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global Solid State and Polymer Battery market over the period of study.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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