Global Automotive Solid-State Battery Market to Reach $1.94 Billion by 2030
07 Feb, 2019, 14:00 GMT
FREMONT, California, Feb. 7, 2019 /PRNewswire/ -- According to a market intelligence report, by BIS Research titled "Global Automotive Solid-State Battery Market – Analysis and Forecast (2020-2030)", the market is expected to reach $1.94 billion by 2030. The major factors driving the market are the exponentially rising demand for electric vehicles, stringent governmental regulations to improve fuel economy of vehicles across the globe, and technical and operational advantages of solid-state lithium-ion battery. Government-led consortiums and organizations in major developed countries are also focused on developing innovative technology for the purpose of energy management. Key factors attracting investments and project funding are efficient energy storage system requirement, vehicle weight reduction, and assurance of safe operation.
The global automotive battery market has witnessed an exponential growth in sales, production, and investments over the past decade. The major customer base for solid-state battery in the automotive industry includes OEMs, sub-system manufacturers, and the aftermarket, and electric vehicle battery pack integrators. The solid-state battery technology is highly advantageous for efficient energy storage application in the electric vehicle ecosystem. Since the 1990s, the technology for battery materials has undergone extensive research and development, beginning from the lead-acid battery.
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BIS Research is conducting a webinar on Inside the EV Batteries of Tomorrow – Rapid Charging, Greater Range and Lower Cost on 26th February 2019 at 1:30 PM (PST) with guest speaker Mr. Adalberto Maluf, Director of Marketing, Sustainability and New Business, BYD Brasil. The organization is a global leader in EV manufacturing. The webinar is highly recommended for automotive companies, battery manufacturers, battery component manufacturers, EV charging service providers, EV enthusiasts, and other stakeholders in the electric vehicle ecosystem. The key focus of the webinar is the current and future outlook of EV market, regional and country-wise growth of EVs, hurdles faced by the EV battery market, such as prolonged charge time, short vehicle range, and high cost of batteries, and the evaluation of current and future battery chemistries.
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The growth of EVs in the automotive industry is causing a paradigm change in the method of vehicle development. The growing demand for EVs is driven by stringent emission regulations, environmental degradation, and the requirement for energy efficient systems. Further, the EV trends have developed new areas of research and business prospects for supporting the electrification of the powertrain. The key areas of focus are electric motors, electronic computer systems for power delivery, battery module technologies, and battery materials.
Browse 36 market data Tables and 97 Figures spread through 208 Pages and in-depth TOC on "Global Automotive Solid-State Battery Market"
The era post 2000 saw an exponential rise in the market penetration of EVs with lithium-ion battery packs. This was due to a substantial price reduction in the lithium-ion battery per kWh cost, which was estimated to drop further during the next 10 years for implementation at the mass volume level. Solid-state battery technology is the next key innovation, which has witnessed great traction from major technology leaders across the world. There has been a strong focus on developing new technology using safe material to replace the liquid electrolyte with the solid electrolyte. The U.S. and Japan are the leading technology hubs which are driving the development of polymer-based solid electrolyte, due to its high reliability and cost-effectiveness.
BIS Research Report: https://bisresearch.com/industry-report/automotive-solid-state-battery-market.html
According to Nishant Pahwa, Analyst at BIS Research, "Solid-State Battery Technology is undoubtedly the next big disruption for the electric vehicle ecosystem. The research and development is bound to be focused on developing robust and cost-efficient material technology during the upcoming decade. The material technology is expected to be dominated by solid polymer electrolyte, with an estimated market value of $449.5 million by 2030."
The market intelligence report provides a detailed analysis of the key growth drivers and restraining forces of the global automotive solid-state battery market, along with an extensive insight into various forms of developments, trends, and the key participants in the market. The automotive solid-state battery ecosystem comprises companies from incredibly diverse backgrounds, such as technology leaders, components suppliers, automotive OEMs, module integrators, and solution providers. The report analyses a list of key collaborations, mergers and acquisitions, and the launch of new products to understand the market dynamics. For the study of this report, the final customers can be the OEMs developing electric vehicles or tire-1 level battery module suppliers catering to the OEM contracts.
Request for a sample: https://bisresearch.com/requestsample?id=649&type=download
Increasing joint ventures and collaborations as well as mergers and acquisitions are anticipated to improve the product development through conducive research. The market report includes a thorough analysis of the market trends and size, along with the market estimation based on the key geographical regions. Besides providing detailed financial analysis of the key players in the market, the report also includes individual SWOT analysis of each company. The key companies operating in the domain are Panasonic Corporation, Samsung SDI, Hitachi Ltd, Nippon Chemical, Ilika plc, Ionic Materials, LG Chem, Murata Manufacturing, Nichia Corporation, QuantumScape, Seeo Inc, Solid Power, Volkswagen, BMW Group, NGK Spark Plugs, Sakti3, Sila Nanotechnology, NanoGraf Corporation, Johnson Battery Technology, and Enevate Corporation, among others.
The key strategies adopted by the market players to attain their respective market shares in this emerging domain are joint ventures, collaborations, partnerships, contracts, and launch of products. This report is a meticulous compilation of research on more than 100 players in the Automotive Solid-State Battery ecosystem and draws upon insights from in-depth interviews of the key opinion leaders, market participants, and vendors.
The report addresses the following questions in the report
- What is solid-state battery technology?
- What is the pattern of supply chain, and how are the different players linked?
- What are the driving and challenging factors for the market for the period between 2020 and 2030?
- What research projects have been taken up across the world?
- What factors are expected to support the application of solid-state battery in various vehicle types (passenger vehicles, two-wheelers and commercial vehicles)?
- What are the key developments and strategies of the companies in the market?
- What is the expected global forecast for automotive solid-state battery technology for the period between 2020 and 2030?
- What is the expected market forecast for the market by region for the period between 2020 and 2030?
- What is the expected market forecast for the market by vehicle type for the period between 2020 and 2030?
- What is the expected market forecast for the market by component for the period between 2020 and 2030?
- What are the key start-ups impacting the solid-state technology development?
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