Rising Road Traction of Electric Vehicles Fuel the Demand for Solid-State Battery

NEW YORK - Nov. 24, 2022 - PRLog -- The solid-state battery industry has garnered $61.3 million revenue in 2021, and it is expected to generate $775.2 million revenue in 2030, rising at a rate of 32.6% from 2021 to 2030. The growing adoption of electronic gadgets, rising road traction of electronic vehicles, and growing utility of energy storage systems and battery management propels the industry growth.

Solid-state batteries provide support in combating the problems with batteries with liquid electrolytes, such as leakage or corrosion at the electrodes, which involve the usage of solid electrolytes with ionic conductivity to restrict the ohmic drop at electrodes.

In this manner, the lithium-conducting chalcogenide glasses serve as excellent candidates with 10 to 100 times larger conductivity compared to their oxide counterparts.

Several solid-state batteries consist of lithium-conducting chalcogenide glass or glass-ceramic with the development of solid electrolytes.

In addition, the increasing R&D activities on solid-state batteries, growing IoT-based systems adoption, and electronic device miniaturization fuel the industry's growth.

The battery capacity of 20-500 mAh captures the largest revenue share, accounting for 68.2% in 2021. It is led by solid-state battery (https://www.psmarketresearch.com/market-analysis/solid-st...) applications, such as domestic appliances, wearable medical devices, and energy storage systems. Which need such variants.

Therefore, the growing road traction of electric vehicles propels the demand for solid-state batteries.