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Ilika plc

Solid-state battery market expected to reach $6 billion by 2030

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.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.