A report by IDTechEx states that the market for solid-state batteries is expected to grow to over $6 billion by 2030.
According to “Solid-State and Polymer Batteries 2020-2030: Technology, Patents, Forecasts, Players,” most of the market for solid-state batteries comes mainly from electric vehicles, with growing interest from other sectors like energy storage systems and consumer electronics.
“With most of the companies’ mass-production plans, like Japan ~2025-2030, Europe ~2025-2026, mainland China & Taiwan ~2022-1023, it is likely that solid-state batteries will take off around 2025, although small-scale production may happen even earlier,” the report reads. “The car plug-in market will take the most share (65%) in 2030, followed by smartphone applications.”
Ilika plc (LON:IKA) is a pioneer in solid state battery technology enabling solutions for applications in Industrial IoT, MedTech, Electric Vehicles and Consumer Electronics.