Understanding the Dynamics of the Solid-State Battery Market: Type and Capacity Insights

The Solid State Battery Market is expected to reach USD 963 million by 2030 from USD 85 million in 2023, at a CAGR of 41.5 % during the 2023-2028 period according to a new report by MarketsandMarkets™. Although solid-state batteries have a higher energy density, a solid structure, better stability, and are safer compared to lithium-ion batteries, they have a few limitations, such as low ionic conductivity, highly reactive, and overall high cost. These limitations can be addressed by introducing different solid-state electrolytes (SSEs) made up of a variety of materials. Continuous research and development efforts are expected to drive the growth of the solid-state battery market.