EV SOLID State Battery Market Size Will Reached USD 2129.86 Mn. and Growing at a CAGR 44 % During 2024-2030
EV SOLID State Battery Market Overview
The Electric Vehicle (EV) solid-state battery market is poised for significant growth in the coming years, driven by advancements in battery technology and the increasing adoption of electric vehicles. The EV solid-state battery market is projected to reach USD 0.26 billion in 2025 and grow at a compound annual growth rate (CAGR) of 45.9%, reaching USD 1.74 billion by 2030. Another estimate suggests the market will expand from USD 0.37 billion in 2025 to USD 1.9 billion by 2035, reflecting a CAGR of 18% over the decade.
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Factors Driving Market Growth:
Solid-state batteries offer higher energy density, improved safety, and longer lifespan compared to traditional lithium-ion batteries, making them highly attractive for EV applications. The global shift towards electric vehicles, driven by environmental concerns and supportive government policies, is accelerating the demand for more efficient and reliable battery technologies Major automotive manufacturers and tech companies are investing heavily in solid-state battery research and development, aiming to commercialize the technology within the next decade.
EV SOLID State Battery Market Segment Analysis
by Type
2-Wheeler
Passenger car
Commercial Vehicle
by Propulsion plug-in hybrid EV
battery electric vehicles,
fuel cell electric vehicles
by Vehicle Class Mid-Range EV
Luxury EV
Key Players in the EV SOLID State Battery Market
North America
Toyota Motors (Japan)
Tesla Motors (U.S.)
Quantumscape (U.S.)
General Motors (U.S.)
Cymbet (U.S.)
Ford Motors (U.S.)
Solid Power (U.S.)
Europe
Morison Garage Group (U.K.)
Ilika (U.K.)
Volkswagen Ag (Germany)
Mercedes (Germany)
Porsche (Germany)
Renault Group (France)
st microelectronics (Switzerland)
Northvolt AB (Sweden)
Asia Pacific
Nissan motors (Japan)
Mitsubishi Motors (Japan)
Honda corp (Japan)
Okinawa Ltd (Japan)
Panasonic Corporation (Japan)
TDK Corporation (Japan)
Contemporary Amperex Technology Co. (China)
Kia Motors (South Korea)
Samsung SDI Co. Ltd (South Korea)
LG Chem (South Korea)
Hyundai Group (South Korea)
OLA (India)
Ather energy (India)
Tata Motors (India)
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Regional Insights:
Asia-Pacific region is expected to dominate the solid-state battery market, supported by robust EV production, government incentives, and significant investments in battery manufacturing infrastructure. Both regions are witnessing increased investments in clean energy technologies and have set ambitious goals for EV adoption, contributing to the growing demand for advanced battery solutions.
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