Global Solid State Battery Market to cross $14.7 billion by 2032

Global Solid State Battery Market to cross $14.7 billion by 2032

September 11th, 2024 Fundamental Business Insights Leave a comment

The global solid state battery market size to grow from USD 624.75 million in 2023 to USD 16.88 billion by 2032, at over 41.5% CAGR during 2024 to 2032, according to a research report by FBI & Consulting.

The solid-state battery market is a rapidly emerging and appealing subsector within the wider energy storage and electric vehicle (EV) business. Solid electrolytes are used in solid-state batteries, as opposed to liquid or gel-like electrolytes used in typical lithium-ion batteries. Furthermore, consumer gadgets such as smartphones, laptops, and wearables make use of solid-state batteries. These batteries are tempting for a wide range of portable electronic devices since they can provide greater power for a longer amount of time while also lowering the risk of overheating.

The rise of the renewable energy industry has a substantial impact on the solid-state battery business. Solid-state batteries have the potential for higher energy density, improved safety, and a longer lifespan than conventional lithium-ion batteries, making them a viable energy storage technology. Solid-state batteries are considered safer than traditional lithium-ion batteries since they do not use flammable liquid electrolytes. As a result, they are less likely to overheat, catch fire, or explode, all of which are big issues with consumer electronics. Solid-state batteries may have higher energy density, or the ability to store more energy in a more compact and lightweight form factor.

Solid electrolytes, which can be more expensive than liquid electrolytes in typical batteries, are widely utilized in solid-state batteries. It can be difficult to keep a continuous supply of these minerals. Solid-state battery technology must be developed and improved, which will be costly. These expenses are frequently borne by early users, raising the initial cost of solid-state battery-powered products.

The portable battery segment accounted for the largest market share over through 2032. Solid-state batteries are recognized as a next-generation technology when compared to ordinary lithium-ion batteries, which offer several benefits such as better energy density, improved safety, and longer lifespan. Due to these benefits, solid-state batteries are appealing for a wide range of applications, including electric vehicles (EVs), consumer electronics, and renewable energy storage.

The consumer electronics application is expected the dominate the market over the forecast period. As solid-state batteries are more compact and allow for more flexible form factors, producers may be able to build thinner and smaller devices. This is especially appealing for portable gadgets. Solid-state batteries could enable rapid charging of consumer electronics, which is a crucial selling point for many buyers.

Insights by Region

North America is anticipated to dominate the solid-state battery market from 2017 to 2032. Both the public and private sectors have made significant efforts to aid in the development and widespread usage of solid-state batteries. Governments and venture capitalists have recognized the potential of this technology and donated funding to further its development.

Asia Pacific is witnessing the fastest market growth through 2032. The Asia Pacific region has been at the forefront of solid-state battery research and development, particularly in China, South Korea, and Japan. The industry was expected to grow significantly due to increased demand for electric cars (EVs), portable electronics, and renewable energy storage solutions.

Major players in the market

Panasonic Corporation (Japan)
SAMSUNG SDI CO., LTD. (South Korea)
LG Chem. (South Korea)
NEXEON LTD. (United Kingdom)
Los Angeles Cleantech Incubator (U.S.)
Enevate Corporation (U.S.)
Zeptor Corporation (U.S.)
CONNEXX SYSTEMS Corp. (Japan)
XGSciences (U.S.)
California Lithium Battery (U.S.)
City of Irvine (U.S.)
Amprius Technologies (U.S.)
Solid Energy A/S (Denmark)
ActaCell, Inc. (U.S.)
OneD Material, Inc. (U.S.)
Hitachi Chemical Co., Ltd. (Japan)
Huawei Technologies Co., Ltd. (China).

Source report link: https://www.fundamentalbusinessinsights.com/industry-report/solid-state-battery-market-1628

Global Trade Daily, Imports/Exports

The Largest Import Markets for Primary Cell and Battery

February 12th, 2024 IndexBox Leave a comment

When it comes to the import market for primary cells and batteries, several countries stand out as the world’s top destinations for these products. According to data from the IndexBox market intelligence platform, the top 10 import markets for primary cells and batteries in 2022 are:

1. United States

The United States leads the pack with an import value of $1.1 billion in 2022. This reflects the country’s high demand for primary cells and batteries, driven by various industries such as consumer electronics, automotive, and healthcare. With a strong economy and a large population, the United States presents significant opportunities for international suppliers.

2. Germany

Germany follows closely behind the United States, importing primary cells and batteries worth $624.7 million in 2022. The country’s advanced manufacturing sector, particularly in automotive and industrial applications, fuels the demand for these energy storage solutions. The German market is known for its high standards and quality requirements, making it an attractive destination for suppliers.

3. Vietnam

Vietnam is emerging as a major import market for primary cells and batteries, with an import value of $608.2 million in 2022. The country’s robust manufacturing base, especially in the electronics sector, and its growing consumer market contribute to the increasing demand for energy storage solutions. As Vietnam continues to experience economic growth, its import market for primary cells and batteries is expected to expand further.

4. Malaysia

Malaysia holds a prominent position in the import market for primary cells and batteries, with an import value of $542.5 million in 2022. The country benefits from its strategic location in Southeast Asia and its role as a regional manufacturing hub. Malaysia’s electronics and electrical equipment sectors, in particular, drive the demand for energy storage solutions, making it an attractive market for international suppliers.

5. Hong Kong SAR

Hong Kong SAR is an important import market for primary cells and batteries, with an import value of $387.3 million in 2022. The region serves as a gateway to the vast Chinese market and is known for its high-quality trading services. Hong Kong SAR’s strong presence in the global electronics industry contributes to the demand for energy storage solutions, presenting opportunities for international suppliers.

6. China

China, the world’s largest consumer market, imported primary cells and batteries worth $348.2 million in 2022. The country’s extensive manufacturing sector, particularly in electronics, drives the significant demand for energy storage solutions. As China continues to invest in its infrastructure and encourage technological advancements, the import market for primary cells and batteries is expected to grow further.

7. Netherlands

The Netherlands is a key import market for primary cells and batteries, with an import value of $339.3 million in 2022. The country’s strategic location and well-developed logistics infrastructure make it an attractive trading hub within Europe. The Netherlands strong commitment to sustainable energy and its advanced manufacturing sector contribute to the demand for energy storage solutions.

8. United Kingdom

The United Kingdom imports primary cells and batteries worth $325.2 million in 2022. The country’s strong industrial base and high consumer demand drive the import market for energy storage solutions. With a focus on renewable energy and environmental sustainability, the United Kingdom presents opportunities for international suppliers.

9. Belgium

Belgium imports primary cells and batteries worth $304.2 million in 2022. The country’s strategic location at the heart of Europe and its advanced manufacturing sectors make it an important market for energy storage solutions. Belgium’s commitment to innovation and its supportive business environment contribute to the demand for primary cells and batteries.

10. Singapore

Singapore completes the list of the world’s top import markets for primary cells and batteries, with an import value of $295.0 million in 2022. The country’s advanced electronics manufacturing industry and its role as a major logistics hub in Southeast Asia contribute to the demand for energy storage solutions. Singapore’s strict quality standards and efficient trade infrastructure make it an attractive market for international suppliers.

In conclusion, the world’s best import markets for primary cells and batteries offer significant opportunities for international suppliers. With countries like the United States, Germany, Vietnam, and others driving the demand, the market for energy storage solutions is thriving. Importers and exporters can utilize market intelligence platforms like IndexBox to gain valuable insights into these markets, track trends, and make informed business decisions.

Source: IndexBox Market Intelligence Platform

Archives, Uncategorized

Import of Storage Batteries in USA Decreases Slightly to $2.2B in June 2023

September 6th, 2023 IndexBox Leave a comment

U.S. Storage Battery Imports

In June 2023, imports of storage batteries into the United States expanded rapidly to 113M units, with an increase of 6.2% compared with May 2023 figures. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 when imports increased by 18% m-o-m. As a result, imports reached the peak of 116M units. From December 2022 to June 2023, the growth of imports remained at a somewhat lower figure.

In value terms, storage battery imports declined to $2.2B (IndexBox estimates) in June 2023. The total import value increased at an average monthly rate of +1.2% over the period from June 2022 to June 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in January 2023 when imports increased by 28% against the previous month. As a result, imports attained the peak of $2.9B. From February 2023 to June 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (35M units), South Korea (33M units) and China (30M units) were the main suppliers of storage battery imports to the United States, together comprising 87% of total imports.

From June 2022 to June 2023, the biggest increases were in Japan (with a CAGR of +5.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($970M) constituted the largest supplier of storage battery to the United States, comprising 44% of total imports. The second position in the ranking was held by South Korea ($409M), with a 19% share of total imports. It was followed by Japan, with a 15% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of value from China stood at +1.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: South Korea (+1.9% per month) and Japan (+3.8% per month).

Import Prices by Country

In June 2023, the storage battery price amounted to $19.5 per unit (CIF, US), which is down by -17.7% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 28% against the previous month. As a result, import price attained the peak level of $26,387 per thousand units. From February 2023 to June 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($36.8 per unit), while the price for Japan ($9.4 per unit) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Global Solid State Battery Market to cross $14.7 billion by 2032

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