According to Vantage Market Research

On Jan 20, 2022

WASHINGTON, Jan. 20, 2022 (GLOBE NEWSWIRE) — The market size stood at USD 84.26 Million in 2021. The Global Solid State Battery Market size is expected to reach USD 721.35 Million by 2028, exhibiting a CAGR of 35.9% during the forecast period.

Solid State Batteries are recently developed and are expected to show a bright future in terms of market, applications, and sustainability. Currently Solid-State Batteries replace the flammable liquid electrolyte in a conventional lithium-ion battery with a proprietary sulphide-based solid electrolyte. Hence solid-state batteries are considered to be safe and more stable across broad temperatures and provide a higher energy density compared to best rechargeable battery cells available in market. Thus, solid state battery is expected to flourish in coming years, states Vantage Market Research, in a report, titled “Solid State Battery Market by Type (Single-cell, Multi-cell Battery), by Application (Consumer Electronics, Electric Vehicles, Energy Harvesting, Medical Devices), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

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Market Overview:

Rising technological Advancements in Applications of Solid-State Battery is Expected to Drive the Market.

Solid state battery is considered to be the one of the future innovative battery with special benefits such as fat charging, high temperature stability, long lasting and last but not the least safety factor. For instance, solid power generated from solid state batteries began its relationship with BMW in 2017 with a joint development agreement to develop all-solid-state batteries for electric vehicles. Solid Power also anticipates the all-solid-state battery cells which will enable less expensive battery pack designs due to the removal of expensive and extensively engineered battery pack…