PUBLISHER: Grand View Research | PRODUCT CODE: 1530323
PUBLISHER: Grand View Research | PRODUCT CODE: 1530323
The global solid state car battery market size is anticipated to reach USD 6,889.2 million by 2030 and is anticipated to expand at a CAGR of 54.0% during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for cleaner alternatives fuels is expected to drive market growth.
The worldwide registration of electric vehicles (EVs) is anticipated to increase significantly over the forecast period. Rising availability of charging outlets and financial incentives have emerged as crucial factors for the development of electric vehicles market. EVs have lower running costs as compared to conventional ICE-operated vehicles.EVs form the foundation for sustainable transport systems in the future along with the optimization of urban & suburban infrastructures. However, the global deployment of all types of EVs is necessary to achieve the sustainability target set by regulatory authorities. The Paris Declaration on "Electro-Mobility and Climate Change and Call to Action" proposed a target of deploying 100 million electric cars and 400 million electric two- and three-wheelers by 2030.
Companies are increasingly focusing on innovation in solid state car battery to increase their footprint in market. For instance, In June 2024, Nio launched semi solid state car battery with capacity of 150 kWh per unit which is the biggest battery pack ever produced in China with highest energy density.