Market Research Report
Solid State Batteries: Market Shares, Market Strategies and Forecasts, 2022-2028
|Solid State Batteries: Market Shares, Market Strategies and Forecasts, 2022-2028|
Published: March 9, 2022
WinterGreen Research, Inc.
Content info: 275 Pages; 149 Tables & Figures
Delivery time: 1-2 business days
Solid-State Batteries represent next generation automation of electricity storage, a market in line for significant growth. It is expected to grow at a compound annual growth rate (CAGR) of 147.8% from 2021 to 2028. Rising demand for solid-state batteries among end-use sectors along with the rising research and development activities are focused on commercializing the battery. Lower costs for solid state batteries are expected to propel market growth.
EVs represent a primary market. The electrical solid state battery energy industry will reshape the future. The integrated business model of storage is becoming an application for energy consumption. Amid a greater industry focus on battery technology, automakers with EVs in their lineups are scrambling to position themselves for the arrival of solid-state battery cells soon.
As EV sales increase driven by tighter regulation of carbon emissions, solid-state battery makers become indispensable for the renewable energy industry. Solid-state battery products account for a small proportion in the market early on until mass production can be realized. Toyota has a timeline to achieve mass production of solid-state electric vehicle batteries by 2025. ProLogium said it aims to achieve mass produce solid-state batteries in 2022.
With war between Russia and the Ukraine, US President Biden, intent on stopping Putin's aggression, sees that the best way to reduce the price of oil is to shift to renewable energy. Transforming the economy to run electric vehicles, powered by solid state batteries, means that, no one has to worry about gas prices.
Amid a greater industry focus on battery technology, automakers with EVs in their lineups are scrambling to position themselves for the arrival of solid-state battery cells. Ilika, a materials research firm that has helped Toyota develop solid-state batteries, says the carmaker has been working on solid electrolyte technology for 10 years. Toyota's vision is to replace the flammable liquid electrolyte in a lithium-ion battery with a conductive ceramic material.
In Japan, carmakers are rushing to commercialize solid-state batteries. Toyota, Nissan and Honda joined forces with Panasonic to work on solid-state batteries for electric cars. The consortium includes 23 firms in total. They aim to commercialize solid-state batteries in the early 2020ies. The race for the next generation of battery technology is on.
The significant growth of automotive industry in the US, North America, Europe, China, India, Japan, and South Korea is expected to promote the demand for solid state batteries. Amprius Technologies' 100% silicon nanowire batteries are a breakthrough technology that is revolutionizing the battery industry. With the highest energy density, Amprius Technologies batteries improve the performance of electric vehicles, aircraft, drones. Amprius Technologies equipment for high volume manufacturing of 100% silicon nanowire anodes employs inline, continuous, and roll-to-roll production methods.
Worldwide Solid-State Battery markets are poised to achieve remarkable uptake in the market. Next generation Solid-State Batteries promise to bring the biggest change in human labor that has ever occurred.
Silicon anodes energy density is 10 times higher than graphite anodes used in commercial lithium-ion batteries. But silicon anodes negatively affect charging and discharging rates and degrade liquid electrolytes, shortening the battery lifespan. To solve the problem, researchers eliminated carbon and binders from the anode. The team removed the liquid electrolyte and used instead a sulfide-based solid electrolyte and micro-silicon.
These techniques bring the industry closer to realizing all-solid-state battery techniques, greatly diversifying the battery product lineup. Battery manufacturers and automakers around the globe strive to develop a next-generation electric vehicle battery, called an all-solid-state battery (ASSB), which enables longer mileage and a shorter charging time than current EV batteries due to its higher energy density.
The 2022 study has 275 pages, 149 tables and figures.