A new report from IDTechEx predicts the battery market for solid-state technology will grow to $8 billion by 2031.
The rapid growth of the EV (electric vehicle) market has driven the development, manufacture, and sales of batteries, especially lithium-ion batteries. Now, the next phase of EV development is bringing heightened interest in solid-state batteries, attracting the attention of an increasing number of material providers, battery vendors, component suppliers, automotive OEMs, and investors. Solid-state battery development is happening across the board and in both academia and industry.
With an increasing number of players working in this field and some milestones being achieved, the research consultancy experts at IDTechEx believe the solid-state battery market is expected to grow to $8 billion by 2031, according to its new report “Solid-State and Polymer Batteries 2021–2031: Technology, Forecasts, Players,” authored by Dr. Xiaoxi He, Principal Analyst at IDTechEx.
One of the earlier pioneers in solid-state batteries was SES, which has gotten a lot of support from General Motors since 2015. The report’s authors also singled out that year, providing a little context and recent history i
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