The Global Solid-State Battery Market Currently Estimated to be Valued At $120 Million
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., May 31, 2023 /PRNewswire/ — Solid-state batteries are the focus of R&D activities worldwide, as demand is rising & expanding and is projected to continue for the next decade at least. Compared to conventional Li-ion batteries with liquid electrolytes, solid-state batteries are more reliable, secure, and possess greater energy densities. They are used in various applications, including electric vehicles, energy harvesting, consumer electronics, medical devices, wireless communication, and others. Growing demand for solid-state batteries from end-use verticals and rising research and development efforts aimed at lowering battery costs are anticipated to accelerate solid-state battery market growth during the assessment period. Further, the prominent factors exploiting the solid-state battery demand are the rising use of electronic devices, the growing utilization of battery energy storage systems, and the surging electric vehicles industry. A recent report from Fact.MR projected that the global solid-state battery market is estimated to be valued at US$ 121.0 million in 2023 and to grow at a CAGR of 28.6% to reach a valuation of US$ 1,497.1 million by the end of 2033. Active Companies from around the markets with current developments this week include: Phenom Resources Corp. (OTCQX: PHNMF) (TSX-V: PHNM), Energy Fuels Inc. (NYSE: UUUU) (TSX:EFR), Lockheed Martin (NYSE: LMT), The Chemours Company (NYSE: CC), Glencore plc (OTCPK: GLNCY).