PUBLISHER: Allied Market Research | PRODUCT CODE: 1193369
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193369
Solid state battery is a technology, which utilizes solid electrodes and solid electrolytes as an alternative to liquid or polymer electrolytes found in lithium-ion or lithium-polymer batteries. This technology serves as one of the leading alternatives of conventional lithium-ion battery technology. Solid electrolytes typically act as separators, enabling downscaling by eliminating some components such as separators and housings. Solid state batteries are lighter, more flexible, and potentially capable of containing more energy per unit of weight than traditional lithium-ion batteries. Such benefits offered by solid state batteries drive adoption of solid state batteries in electric vehicles. Furthermore, the rising advancement in battery technology encourage the development of solid state batteries. Thus, automakers collaborate with battery technology manufacturers to incorporate solid state battery in electric vehicles. For instance, in July 2022, BMW announced its plans to collaborate with South Korean suppliers in the production of solid-state batteries.
Electric vehicle battery offers a green power supply to propel commercial and passenger vehicles. The electric vehicle battery is a rechargeable power pack and eliminates the need for combustion engines for powering the vehicle. Electric vehicle batteries can be utilized as both primary and secondary power sources in an automobile depending upon the type of vehicle. The alarming levels of pollution and increase in concerns for climate change are the factors driving the growth of the electric vehicle battery. The evolution of advanced battery technologies has increased the driving range and decreased the required time to charge a vehicle, which is expected fuel the adoption of electric vehicle solid state batteries market.
The electric vehicle solid state battery market is segmented on the basis of vehicle type, propulsion type, and battery energy density, and region. Based on vehicle type, it is segmented into passenger car, and commercial vehicle. On the basis of propulsion type, it is classified into battery electric vehicle and hybrid electric vehicle. By battery energy density, it is categorized into 450 Wh/kg, and more than 450 Wh/kg. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market include Cymbet, Contemporary Amperex Technology Co., Limited (CATL), Ilika, LG Chem, Northvolt AB, Panasonic Corporation, QuantumScape Corporation, Samsung SDI Co., Ltd., Solid Power, STMicroelectronics, Toyota Motor Corporation, and TDK Corporation
Key Benefits For Stakeholders
By Vehicle Type
By Propulsion Type
By Battery Energy Density
By Region