Solid-State Battery Market Scenario 2035

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15 Companies Covered

121 Pages

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Solid-State Battery Market is expected to showcase Rampant Growth Over 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Solid State Battery Market” that contains information from 2019 to 2035. The Solid State Battery Market is estimated to register a CAGR of 4.20% during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global Solid State Battery Market — Panasonic, Versiloc, A123 Systems, Toyota, Cymbet, Ionic Materials, Murata Manufacturing, Innolith, Samsung SDI, ProLogium, European Battery Alliance, Sion Power, LG Chem, Solid Power, and QuantumScape.

Solid-State Battery Market Highlights

The Global Solid State Battery Market is accounted for to register a CAGR of 4.20% during the forecast period and is estimated to reach USD 1,549.61 Billion by 2035.

The market growth is primarily driven by the increasing demand for electric vehicles (EVs), renewable energy storage solutions, and technological advancements enhancing battery energy density and safety. Solid state batteries, which replace liquid electrolytes with solid materials, are gaining momentum as a safer and more efficient alternative to conventional lithium-ion batteries.

The automotive industry remains a dominant force, with electric vehicles projected to reach USD 14.5 Billion by 2035, fueled by global sustainability goals and the transition toward zero-emission transportation. In parallel, the consumer electronics segment is expected to expand from USD 0.8 Billion in 2024 to USD 6.5 Billion by 2035, reflecting growing demand for compact, lightweight, and durable power sources for smart devices and wearables.

Recent industry milestones underscore the market’s acceleration — Toyota’s mass production plans for 2025, QuantumScape’s $300 million funding round, and ProLogium’s European gigafactory in France are reshaping the competitive landscape. Similarly, partnerships such as Volkswagen and QuantumScape’s pilot production line and Honda-GS Yuasa’s joint venture highlight global collaboration to scale up manufacturing.

Furthermore, increasing government incentives, R&D investments, and environmental regulations are creating a conducive environment for innovation and commercialization. As production scalability improves and costs decline, solid state technology is poised to revolutionize energy storage across automotive, electronics, aerospace, and renewable energy sectors.

Segment Analysis

The Global Solid State Battery Market has been segmented based on Application, Chemistry Type, End Use, Form Factor, and Region.

Based on Application: The market is segmented into Electric Vehicles, Consumer Electronics, Aerospace, and Energy Storage Systems. The Electric Vehicles segment dominates and is expected to reach USD 14.5 Billion by 2035, driven by automakers’ shift toward sustainable mobility.

Based on Chemistry Type: The market includes Lithium Metal, Lithium Sulfur, Sodium Ion, and Polymer. Among these, Lithium Metal batteries hold the largest share due to their high energy density and performance efficiency.

Based on End Use: The market is categorized into Automotive, Consumer Devices, Industrial, and Medical Devices. The Automotive segment leads the market, backed by rising EV adoption and growing partnerships between battery manufacturers and carmakers.

Based on Form Factor: The market is divided into Thin-Film, Prismatic, and Cylindrical. The Prismatic form factor is expected to dominate, driven by its efficiency and use in EVs and high-performance devices.

Region Analysis

By Region, the Solid State Battery Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is projected to reach USD 8.187 Billion by 2035, supported by strong R&D infrastructure and major players like QuantumScape and Solid Power.

Europe remains a hub for innovation, with significant investments from ProLogium, Mercedes-Benz, and Volkswagen, expected to propel the market to USD 9.0 Billion by 2035.

Asia Pacific is forecasted to achieve USD 6.5 Billion by 2035, led by manufacturing giants in Japan, China, and South Korea driving technological advancements and mass production.

South America and the Middle East & Africa are emerging markets, each anticipated to reach USD 2.0 Billion by 2035, driven by government-backed clean energy initiatives.

Key Findings of the Study

The Global Solid State Battery Market is expected to reach USD 1,549.61 Billion by 2035, at a CAGR of 4.20% during the forecast period.

North America accounted for one of the fastest-growing regional markets.

Based on Application, the Electric Vehicles segment held the largest market share in 2024.

Based on Chemistry Type, Lithium Metal batteries were attributed to holding the largest market share in 2024.

Panasonic, Versiloc, A123 Systems, Toyota, Cymbet, Ionic Materials, Murata Manufacturing, Innolith, Samsung SDI, ProLogium, European Battery Alliance, Sion Power, LG Chem, Solid Power, and QuantumScape are the key market players.