North America Solid State Battery Market growth to Grow with a robust CAGR through to 2028

Increasing deployment of IOT to promote the adoption of solid state batteries, and high adoption of solid state batteries in electric vehicles are expected to drive the North America Solid State Battery Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “North America Solid State Battery Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, the North America Solid State Battery Market is expected to register a robust during the forecast period, 2024-2028.  The increasing application scope of solid-state batteries in the healthcare, Electric Vehicle, and drone sectors, as well as the incorporation of flexible and lightweight batteries in wearable devices, combined with the extended shelf life of solid-state batteries compared to conventional batteries, will further contribute to the market's value. Additionally, the rise in investments and partnerships between automobile companies and solid-state battery manufacturers, along with the high demand for electric vehicles, are expected to create new opportunities for market growth in the forecast period. One of the most promising opportunities lies in the integration of solid-state batteries into electric vehicles (EVs). With governments in North America implementing stricter emissions regulations and promoting EV adoption, there is a significant market for advanced battery technologies. Solid-state batteries offer superior energy density, faster charging, longer lifespan, and enhanced safety compared to traditional lithium-ion batteries, making them an appealing choice for automakers. This opportunity extends to both passenger EVs and commercial electric vehicles, including buses and trucks.

 

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Based on Capacity, 20 Mah to 500 Mah segment has emerged as the predominant market leader. Wearable devices, including smartwatches and fitness trackers, necessitate compact and lightweight batteries with ample capacity for extended operation. Solid-state batteries align well with these requirements and contribute to the growth of this market segment. Portable medical devices, such as glucose monitors and infusion pumps, derive benefits from the small form factor and improved energy density of solid-state batteries. These batteries empower medical professionals to deliver efficient and dependable patient care. Smart home devices, encompassing doorbell cameras and smart locks, rely on energy-efficient batteries. Solid-state batteries offer the advantage of enhanced energy density and safety, rendering them an apt choice for powering such devices. Miniature sensors employed in industrial and environmental monitoring harness the energy density and extended cycle life of solid-state batteries. These sensors play a vital role in data collection and control systems across diverse industries. A significant trend in the sector is the incorporation of enhanced safety features, including reduced risk of thermal runaway. This aspect holds particular importance in medical devices and consumer electronics, where safety reigns as a top priority. Manufacturers of solid-state batteries are actively developing customizable solutions to cater to specific size and shape requirements for various applications. This trend effectively addresses the diverse needs of industries operating within this capacity range.

Based on application, Consumer & Portable Electronics segment is expected to grow during the forecast period. The wearables market, encompassing smartwatches, fitness trackers, and other wearable devices, benefits from the utilization of solid-state batteries. These batteries offer advantages such as a compact form factor and improved energy density. Wearables necessitate lightweight and long-lasting power sources to perform tasks like tracking fitness metrics, displaying notifications, and providing various functionalities. In the growing market of wireless earbuds and headphones, solid-state batteries are increasingly employed to power these devices due to their compact size and enhanced safety features. Safety remains a paramount concern in consumer electronics, and solid-state batteries are recognized for their safety advantages, including a reduced risk of thermal runaway. This makes them an appealing choice for devices that consumers rely on daily. Manufacturers are exploring customization options, enabling the development of solid-state batteries tailored to specific device form factors and performance requirements. This trend caters to the diverse needs of consumer electronics. Furthermore, solid-state batteries possess inherent safety and environmental benefits compared to traditional lithium-ion batteries. These features resonate with environmentally conscious consumers and companies that prioritize sustainability. As emerging technologies such as augmented reality (AR) glasses and advanced virtual reality (VR) headsets gain traction, solid-state batteries can play a pivotal role in delivering reliable power sources for these devices.

Major companies operating in North America Solid State Battery Market are:

• QuantumScape Corporation
• Wildcat Discovery Technologies 
• Sila Nanotechnologies
• Ion Storage Systems
• 24M Technologies
• Seeo, Inc.
• Amprius Technologies
• Enevate Corporation
• Excellatron Solid State, LLC
• SolidEnergy Systems

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“United States is expected to dominate the market during the forecast period. The United States places a significant emphasis on environmental regulations and safety standards. Solid-state batteries, with their inherent safety features and environmentally friendly materials, are in line with these regulatory priorities. As the government enforces increasingly stringent safety and emissions regulations, solid-state batteries emerge as a viable solution for automakers and manufacturers seeking compliance with these requirements.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“North America Solid State Battery Market By Type (Portable and Thin Film), By Capacity (Less than 20 Mah, 20 Mah to 500 Mah and More than 500 Mah), By Application (Consumer & Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable & Medical Devices and Others), By Country, By Competition Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of North America Solid State Battery Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Solid State Battery Market.

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