Solid State Car Battery Market Share

Asia Pacific Market Forecast

The solid state car battery market in Asia Pacific is set to dominate with a share of about 32% by the end of 2037. With increased government initiatives to promote EV adoption and the presence of several leading battery manufacturers in the area, the region is producing EVs on a large scale. By 2030, India intends to have at least 30% of its private automobiles be electric vehicles; as of 2022, there are 13,92,265 such vehicles on Indian roads. Over 3.4 million EVs were produced in China in 2021.

North America Market Analysis

The North American solid state car battery market is emerging to register a value of around 28% by 2037. A growing concern about environmental sustainability, coupled with stringent government regulations, has prompted automakers in the region to develop cost-efficient and environmentally friendly modes of transportation. To reduce emissions and comply with regulations, automakers are investing in the development of electric vehicles powered by solid state car batteries, which are more efficient and have a longer lifespan than traditional batteries.