Solid State Car Battery Market Analysis

Vehicle Type (Passenger Car, Commercial Vehicle)

Around 53% of the market is expected to be occupied by passenger cars by 2037. In developing countries, a growing urbanization trend has increased passenger car demand, which is a result of higher accessibility to electric vehicles and new technologies that reduce charging times and improve range. In comparison with traditional lithium-ion batteries, solid-state batteries are safer, more efficient, and can store more energy. Thus they are ideal for use in passenger cars, which require an immense amount of energy and are also regulated for safety and reliability.

Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle)

The battery-electric vehicle segment is set to hold 56% of the solid state car battery market share by 2037. BEVs have become increasingly popular due to their superior features over hybrid electric vehicles, including larger battery capacities, faster charging, and better safety features. Also, increasing government initiatives and subsidies to promote electric vehicle adoption, technological advancements in battery technology leading to increased range and power output of electric vehicles and improved charging infrastructure.

Our in-depth analysis of the market includes the following segments: