According to Fact.MR – a market research and competitive intelligence provider, portable solid state batteries accounted for around three-fourth of global solid state battery sales in 2020. Apart from this, there also has been a meteoric rise in the demand for electronic devices and wearables that has elevated overall solid state battery sales.
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Vehicle electrification has been the core factor for the increase in demand for portable solid state batteries. There has been significant rise in the number of electric vehicle registrations in the recent past, which has accelerated the demand for solid state batteries.
As per the new report published by Fact.MR, the global solid state battery market is anticipated to exceed a valuation of around US$ 75 Mn in 2021, and is expected to surge at an impressive CAGR of around 30% over the forecast period of 2021 to 2031. East Asia dominates the consumption of solid state batteries owing to significant adoption of electric vehicles in the region.
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Key Takeaways from Market Study
- South Asia is estimated to witness major growth during the forecast period, compared to 2021, accounting around 38% CAGR.
- In 2021, East Asia is anticipated to register highest market share of around 30%, followed by North America.
- Portable solid state batteries commanded higher revenue share of around 78% in 2020, though the market for thin film solid state batteries is estimated to witness faster growth.
- In terms of capacity, revenue through 20mAh – 500mAh solid state batteries is expected to grow by 130 BPS.
- Electric vehicles are expected to generate around US$ 129 Mn absolute dollar opportunity for solid state battery manufacturers during 2021 – 2031.
- Top five players manufacturing solid state batteries accounted for 67% market share in 2020.
“Growing interest of automotive manufacturers towards increasing their fleet of electric vehicles can be observed in their partnerships with solid state battery manufacturers – most of them being start-ups. It is suggestive of the opportunity lying ahead for solid state battery manufacturers with surge in the penetration of electric vehicles,” says a Fact.MR analyst.
Market Segments Covered in Solid State Battery Industry Analysis
- By Battery Type
- Thin Film Solid State Batteries
- Portable Solid State Batteries
- By Capacity
- Below 20mAh Solid State Batteries
- 20mAh-500mAh Solid State Batteries
- Above 500mAh Solid State Batteries
- By Sales Channel
- Solid State Batteries for Consumer & Portable Electronics
- Solid State Batteries for Electric Vehicles
- Solid State Batteries for Energy Harvesting
- Solid State Batteries for Wearable & Medical Devices
- Others
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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The report covers following Solid State Battery Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Solid State Battery Market
- Latest industry Analysis on Solid State Battery Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Solid State Battery Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Solid State Battery Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
For More Insights- https://www.einpresswire.com/article/556334535/retail-industry-to-augment-the-demand-for-wi-fi-electronic-shelf-label-over-the-assessment-period
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