Solid-State Battery Market Size to Reach USD 1953 Million by 2032, at 42% CAGR | SNS Insider

The Solid-State Battery Market is growing with demand for safer, high-energy-density batteries in EVs, consumer electronics, and industrial applications.

AUSTIN, TX, UNITED STATES, March 3, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the SNS Insider,“the global solid-state battery market was valued at USD 83.20 million in 2023 and is projected to reach USD 1953.07 million by 2032, exhibiting a compound annual growth rate of 42% from 2024 to 2032.”

This substantial growth is primarily attributed to the increasing demand for electric vehicles (EVs), advancements in battery technology, and the need for safer, more efficient energy storage solutions.

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SWOT Analysis of Key Players as follows:
-Altairnano
-Beijing Weilan New Energy Technology Co. Ltd.
-BrightVolt Solid State Batteries
-Cymbet
-Hitachi Zosen Corporation
-Ilika Ltd.
-Ion Storage Systems
-ITEN
-Johnson Energy Storage Inc.
-Prieto Battery Inc
-QuantumScape Corporation
-Samsung SDI Co. Ltd.
-Solid Power
-STMicroelectronics
-Toyota

Key Market Segmentation:

By Type: Thin Film Batteries Lead, While Multi-cell Batteries Witness Fastest Growth

The Thin Film Batteries segment dominated the market and accounted for significant revenue share in 2023, being driven by the broader adoption of thin film solid state batteries for things such as compact electronics, medical devices, and IoT applications. Due to their small form factor and light weight combined with a high energy efficiency, these batteries are suitable for use in wearables, smart cards, implanted medical devices, and more. With the increasing demand for miniaturized electronics, thin film batteries are expected to retain their strong market position.

The multi-cell solid-state batteries segment is expected to register the fastest CAGR during the forecast period, thanks to growing electric vehicles demand, renewable energy storage and industrial applications. Its higher energy density and higher power output make these batteries suitable for large-scale applications. However, this segment will quickly grow as battery makers scale production and gain access to multi-cell arrangements.

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By Application: Consumer & Portable Electronics Dominate, While EVs Show the Fastest Growth

The Consumer & Portable Electronics dominated the market and accounted for significant revenue share in 2023, primarily propelled by the long life and safety offered by the batteries in smartphones, laptops, smartwatches, and wireless earphones. Solid-state batteries are widely used in consumer electronics because they have longer-lasting battery life, provide better performance, and are less likely to overheat.

The EVs segment is expected to register the fastest CAGR during the forecast period, Stricter emission regulations and government incentives are causing a huge increase in EV adoption. Solid-state batteries can provide increased energy capacity, fast-charging capabilities, and longer life—all key drawbacks to lithium-ion batteries. Toyota and BMW are among those targeting solid-state EVs by 2026, which could also help to speed up this segment.

By Rechargeability: Secondary Batteries Dominate, While Primary Batteries Gain Traction

Secondary Batteries Segment dominated the market and accounted for significant revenue share in 2023. Rechargeable solid-state batteries are widely utilized in consumer electronics, electric vehicles (EVs), and renewable energy storage. Electrodes for liquid storage batteries can endure multiple charge-discharge cycles, have a high energy density, and generate cost-effective long-term and both making them the best-suited for high-energy applications.

Primary Batteries is expected to register the fastest CAGR during the forecast period. These solid-state batteries come to the rescue as primary batteries, finding traction in several low-power applications such as medical implants, remote sensors, and military devices. These batteries have a long shelf life and high reliability, making them ideal for use in applications where replacing a battery is either impractical or expensive.

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By Region: APAC Leads in Production, While North America Sees Rapid Expansion

The Asia-Pacific dominated the market and accounted for significant revenue share in 2023. The lightweight and compact nature of solid-state batteries drive their deployment in consumer electronics developed regions, in turn driving demand for solid-state batteries. China, Japan & South Korea hold the lion’s share of the global solid-state battery market attributable to their leadership in battery innovation & production in the APAC region. Thanks to the high penetration of EVs, local clean energy incentives, and a major battery producer presence (Panasonic, Samsung SDI, CATL, etc.), the region is dominant.

The fastest growth in North America is due to increasing investments in solid-state battery startup companies and R&D. US and Canadian initiatives emphasize battery production capabilities, but not surprisingly, not every firm will gain largess,  with Quantum Scape R&D growth plans funded and Solid Power's large-scale commercialization.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Solid-State Battery Market Segmentation, by Type

Chapter 8. Solid-State Battery Market Segmentation, by Equipment

Chapter 9. Solid-State Battery Market Segmentation, by Application

Chapter 10. Solid-State Battery Market Segmentation, by Rechargeability

Chapter 11. Solid-State Battery Market Segmentation, by Capacity

Chapter 12. Regional Analysis

Chapter 13. Company Profiles

Chapter 14. Use Cases and Best Practices

Chapter 15. Conclusion

Continued…

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Jagney Dave
SNS Insider Pvt. Ltd
+1 315 636 4242
info@snsinsider.com
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