- The Business Research Company’s global solid-state battery market report has been updated with the latest data.
- According to the Solid State Battery Global Market Report 2024, the solid state battery market is expected to grow at a compound annual growth rate (CAGR) of 44.7% to reach $3.37 billion in 2028 .
- The growing adoption of electric vehicles is one of the main growth drivers for the solid-state battery market.
- The Asia-Pacific region is expected to hold the largest share of the solid-state battery market.
- Solid-state battery refers to a technology that uses solid electrodes and a solid electrolyte, rather than the liquid electrolytes or polymer gels traditionally used in lithium-ion or lithium-polymer batteries.
- The elimination of liquid electrolytes should improve battery safety, service life and heat resistance.
- Solid-state batteries should also offer greater energy density and efficiency, and operate over a wide temperature range. They are, however, generally more expensive than conventional batteries.
