IDTechEx: "Revolutionary Solid-state Batteries Will Create a $6 Billion Market in 2030"

28 July 2020, 06:49:28

According to IDTechEx's report "Solid-State and Polymer Batteries 2020-2030: Technology, Patents, Forecasts, Players.", the potential market size for solid-state batteries is expected to grow to over $6 billion by 2030. This is due to various undisputed advantages of solid-state batteries including high safety level, simple pack design, higher energy density. The market demand for solid-state batteries mainly comes from electric vehicles. The mass launche of such batteries in Europe are for 2025-2026, in Japan are for 2025-2030, in China and Taiwan are for 2022-2023. EVs will have the largest share with 65%, followed by smartphones and other mobile devices.

In 2015, Volkswagen got a 5% stake in QuantumScape, Dyson acquired Sakti3, Bosch acquired SEEO and Johnson Battery Technologies sold its solid-state batteries to BP. More electric vehicle companies joined this game, such as BMW partnered with Solid Power, Ionic Materials worked with Hyundai, although in 2017, both Bosch and Dyson abandoned the two companies they acquired in 2015. Now in 2020, we can see lots of further interests in solid-state batteries, such as the newly developed solid-state batteries based on argyrodite electrolyte by Samsung, and a further $200 million investment by Volkswagen on QuantumScape. Besides the companies we just mentioned, Toyota, Honda, Nissan, Fisker, Panasonic, Samsung, CATL also get involved in this game.

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