Global Solid State Battery Market Report 2023-2028: Electric Vehicles and Wearable Devices Driving Industry Growth
Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Solid State Battery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
Significant technological advancements in battery technology are steering the global solid state battery market to new heights. This market research report details trends, opportunities, and forecast for the global solid state battery market from 2018-2028. This comprehensive report provides an in-depth analysis of the market dynamics, segmentations, and the forward momentum driven by increasing demand in electric vehicles and portable electronics.
Emerging Trend in Fast Charging Technologies Spurs Market Growth
With the exponential rise in the adoption of electric vehicles (EVs), there is a considerable boost in the solid state battery market, given its key role in advancing fast-charging technologies. Solid state batteries are lauded for their ability to store more energy and charge up to 80% in 15 minutes or less, outperforming their lithium-ion counterparts in both stability and energy density.
Wearable Technology and Healthcare Applications Accelerate Demand
The integration of solid state batteries in wearable devices, medical technology such as pacemakers, and energy harvesting devices has expanded the market scope. The dimensional flexibility and inherent safety associated with solid state batteries make them an exceptional choice for products requiring compact and reliable power solutions.
Growth Restrained by Low-Cost Alternatives and Manufacturing Complexities
Despite the market's upsurge, challenges such as the availability of lower-cost substitutes like lithium-ion batteries and complexities in solid state battery manufacturing processes pose significant barriers. Nevertheless, the market is continuously evolving, and the drive for innovation is expected to overcome these impediments over time.
Segmental Analysis: The report segments the market based on type, capacity, and applications, providing a granular understanding of market penetrations across consumer electronics, EVs, wearable technologies, and more.
Geographical Insights: A geographical dissection of the market brings to light the regional dominance and growth potential, including North America's aggressive EV adoption and Asia-Pacific's emerging consumer electronics demand.
Key Players: The solid state battery landscape is competitive with major players like Toyota Motor Corporation and Solid Power Inc., contributing to the sector's vibrant ecosystem with their innovations and expansions.
A selection of companies mentioned in this report includes:
Cymbet Corporation
Seeo Inc.
Toyota Motor Corporation
Sakti3 Inc.
BrightVolt Inc.
Excellatron Solid State LLC
Infinite Power Solutions, Inc.
Planar Energy Devices Inc.
Altair Nanotechnologies Inc.
Solid Power Inc.
For more information about this report visit https://www.researchandmarkets.com/r/c05g4i
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