Global Solid State Battery Market Analysis - Size, Growth, Trends, and Forecast 2018 -2022
About this market
Rising vendor collaborations to drive growth in the market. Several new vendors are entering the market owing to the rapid growth in the automotive sector. Battery manufacturers are raising funds and collaborating with other companies for the development of solid-state batteries. Technavio’s analysts have predicted that the solid-state battery market will register a CAGR of more than 71% by 2022.
Growing requirement for long range EVs
The solid-state batteries are light in weight and have high energy density. As these batteries are inflammable, the car makers do not have to make space for cooling systems. As the space of the battery increased, the mileage of the vehicle also increases.
Declining li-ion battery prices
Advantages of li-ion batteries such as low maintenance, low discharge, light weight, and high energy storage potential pose a serious threat to the solid-state battery market.
For the detailed list of factors that will drive and challenge the growth of the solid-state battery market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Sakti and Seeo the competitive environment is quite intense. Factors such as the rising requirement for long range EVs and the rising vendor collaborations, will provide considerable growth opportunities to solid-state battery manufactures. Blue Solutions, BrightVolt, Cymbet, Sakti, Seeo, Solid Power and STMicroelectronics are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global solid-state battery Market 2018-2022
Technavio recognizes the following companies as the key players in the global solid-state battery market: Blue Solutions, BrightVolt, Cymbet, Sakti, Seeo, Solid Power and STMicroelectronics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising vendor collaborations.”
According to the report, one of the major drivers for this market is the rising requirement for long range EVs.
Further, the report states that one of the major factors hindering the growth of this market is the declining li-ion battery prices.
Sakti (A company of Dyson)
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