Solid-State Battery —Replacement for Conventional Liquid Lithium-ion Batteries

Wed, 02 December 2020 11:41

Solid-state batteries are an emerging technology, finding widespread usage in pacemakers, RFID, and wearable devices. Solid electrodes and electrolytes are safe and have a high-energy-density compared to the conventional polymer gel electrolytes found in lithium-ion batteries. Solid-state batteries are expensive as they deploy costly materials such as oxides, sulfides, phosphates, polyethers, polyesters, nitrile-based, polysiloxane, polyurethane,and solid polymers. Solid-state battery technology facilitates faster charging with higher voltage and longer life cycles. They are thus rising as a potential alternative to conventional lithium-ion batteries in the future. Solid electrolytes are nonflammable; therefore have a lower risk of catching fire

Advantages such as high-performance and low-cost are making solid-state batteries an emerging trend for next-generation traction batteries. The market growth is further accelerated by higher electrochemical stability, higher potential cathodes, and higher energy densities. Though currently available solid-state batteries face a challenge in terms of operating life, research and development activities may help extend the operating life of solid-state batteries for more than three years in order for them to be fully commercialized for electric vehicles.

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Uptake of Electric Vehicles

Electric vehicles are the fastest-growing segment in the global automotive and automobile market recently. Industry experts estimate that EVs will account for 10–12% of the total automotive sales by 2030. Favorable regulations have been put in place in Europe, China, and India for innovation and product development. Notable OEMs such as Honda and Volkswagen, Tesla, and others are taking the lead in this sector. Partnerships, collaborations and investments by Toyota, BMW, Hyundai, and others in technology development and battery material manufacturing are expected to accelerate the market growth. The fully commercialized solid-state battery-based electric vehicles are, however, expected to be launched by 2025

Key Highlights

Investments Made by OEMs in Solid-State Battery Development:

  • As a part of its target production of 1 million electric vehicles by 2025, German Company Volkswagen has invested USD 100 million in QuantumScape, a start-up working on the development of solid-state batteries
  • BMW has invested USD 20 million in Solid Power to scale up the production of solid-state batteries, expecting the launch of electric vehicles to be possible by 2025 with 12 different models
  • Toyota and Panasonic have collaborated to launch next-generation solid-state battery-based electric vehicles by 2020 for pilot projects. The company will have fully commercialized electric vehicles by 2030
  • Hyundai has invested in a US-based start-up, Ionic Materials, for the solid-state electrolyte material development. The Korea-based OEM is expected to commercialize solid-state battery-based electric vehicles by 2025

Solid-State Battery Market Segmentation

By Type

  • Thin-film Battery
  • Portable Battery

By Application

  • Consumer and Portable Electronics
  • Electric Vehicle
  • Energy Harvesting
  • Wearable and Medical Devices
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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