Solid state battery market to hit $6bn in 2030: report 

July 31, 2020 //By Nick Flaherty
Solid state batteries will create a $6bn market in 2030 says report 
The market for solid state battery technology will reach $6bn by 2030 says a report by IDTechEx.

Researchers and battery makers around the world are working hard on the development of reliable solid state battery technology  Even with the influence of the Covid-19 pandemic, the potential market size is expected to grow to over $6bn by 2030 as a report by IDTechEx. Solid state battery technology and developments are covered extensively in eeNews Power (see below).

With the potential of excellent safety, simplified battery pack design, and higher energy densities, solid-state batteries became extremely popular around 2015 when Volkswagen took a 5 percent stake in QuantumScape, Dyson acquired Sakti3, Bosch acquired SEEO and Johnson Battery Technologies sold its solid-state batteries to BP: VOLKSWAGEN BETS $100m ON BATTERY STARTUP

More electric vehicle companies joined in as BMW partnered with Solid Power and Ionic Materials worked with Hyundai, although both Bosch and Dyson later abandoned the two companies they acquired in 2015.

Now in 2020, the market researchers see significant interest in solid state battery technology, such as the newly developed solid-state batteries based on argyrodite electrolyte by Samsung and a further $200m investment by Volkswagen on QuantumScape. Toyota, Honda, Nissan, Fisker, Panasonic, Samsung, CATL are also working on solid state battery technology for more reliable, safer electric car power systems.

While the market demand for solid-state battery technology mainly comes from electric vehicles. energy storage system, consumer electronics such as smartphones, tablets, laptops are also its targeting markets and the later may come to fruition ealier than expected says the report.

With most of the companies' mass-production plans, like Japan ~2025-2030, Europe ~2025-2026, mainland China & Taiwan ~2022-1023, it is likely that solid-state batteries will take off around 2025, although small-scale production may happen even earlier says the report. The car plug in market will take the most share (65%) in 2030, followed by smartphone applications.

Next: Global solid state battery developments


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