The global solid-state car battery market size is projected to grow from 27,070 units in 2025 to 661,724 units by 2030, at a CAGR of 89.5%. Automotive companies are investing huge amounts in research and testing of solid-state battery technology. The ongoing trend of growing demand of EV’s will boost the upcoming solid-state car battery market. The growth of the market is influenced by lower chance of overheating as compared to lithium batteries, Unlike lithium ion batteries, the electrolyte used in solid-state batteries is not flammable and has low volatility. These batteries offer excellent thermal stability and much lower self-discharge, which improves the safety features of the battery. Solid-state batteries produce only 20-30% heat compared to lithium ion batteries. This is expected to reduce the demand for external temperature control devices and also increase the battery life cycle. It is also expected to increase the safety factor for EVs, thus growing the demand for solid-state car batteries.
The European solid-state car battery market will be led by countries such as Germany, France, and the UK. These countries will be the first markets for solid-state car batteries, with top OEMs such as Volkswagen, Stellantis, Daimler, and Renault catering to the region. These companies have plans to produce EVs using solid-state batteries in the coming years and work with battery companies for the same. Their governments will also support the growth of these batteries in EVs for emission reduction measures. The European region will be the fastest-growing market for SSB PHEVs in the world, with high demand in Germany and France. France is projected to be the fastest-growing market in the region, but the onset of demand for solid-state car batteries will be delayed compared to the UK and Germany.
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Asia Pacific is projected to be the largest market for electric vehicles and solid-state batteries during the forecast period. The Asia Pacific solid-state car battery market will reach 368,586 units in 2030 from 3,283 units in 2023. Factors such as the increasing demand for low-emission EVs, with higher range, larger battery capacity, and faster charging compared to lithium-ion batteries, and a growing price of petroleum are driving the growth of the solid-state car battery market in the region. South Korea, Japan, and China are the top markets in the region.
North America comprises developed countries such as the US and Canada. The region is a regional hub for many renowned OEMs known for delivering quality and high-performance vehicles. In North America, OEMs such as Tesla and GM are focusing on the development of faster, cleaner, and high-performance in electric vehicles. Ford, GM and other OEMs in the region have started R&D on solid-state battery technology and plan to bring it to the market in the coming years. North American region may be the earliest growing region for the solid-state battery market with its innovative environment and strong government support for the use of EVs. The solid-state car battery market in the region is expected to increase with the growing demand for EVs in the region.
Key Market Players
The global solid-state car battery companies are Toyota Motor Corporation (Japan), Solid Power (US), QuantumScape (US), Samsung SDI (South Korea), and LG Chem (South Korea). These companies have been developing new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth market.
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