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Solid State Batteries Market Report
2019-2029
Forecasts & Analysis by Type (Thin-Film, Bulk, Others), by Application (Consumer Electronics, Electric
Vehicles, Medical Devices, Wearable Devices, Other Applications), Regional and Leading National
Markets Plus Profiles of the Leading Companies Developing Advanced Battery Technologies for Electric
(EV) & Hybrid Vehicle (HEV), Energy Storage Technologies (EST) and Internet of Things (IoT)

2. www.visiongain.com/electronics Page 67
Solid State Batteries Market Report 2019-2029:
Forecasts & Analysis by Type (Thin-Film, Bulk, Others) By Application (Consumer Electronics, Electric
Vehicles, Medical Devices, Wearable Devices, Other Applications), Regional And Leading National Markets
Plus Profiles Of The Leading Companies Developing Advanced Battery Technologies For Electric (EV) &
Hybrid Vehicle (HEV), Energy Storage Technologies (EST) And Internet of Things (IoT)
Table 7.11: Other Applications Solid State Batteries Market Forecast by Type
2019-2029 (US$ Million, CAGR%)
Type 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
CAGR
(2019-
2029)
Thin-film
batteries 77.6 87.9 99.0 112.2 127.7 145.9 167.3 203.4 255.1 341.1 483.2 720.9
23.4
Bulk batteries 48.1 54.2 60.6 68.2 77.1 87.6 99.8 120.5 150.1 199.5 280.9 416.5
22.6
Other batteries 66.2 73.2 80.4 88.9 98.6 109.9 122.8 145.5 177.8 231.7 319.7 464.6
20.3
Total 191.9 215.2 240.1 269.3 303.4 343.3 389.9 469.4 583.1 772.3
1,083.
9 1,602.1
22.2
Source: visiongain 2019
The other applications solid state batteries market based on type is expected to be valued at US$
215.2 million in 2019 and US$ 1,602.1 million by 2029, growing at a CAGR of 22.2% during the
forecast period. The market for thin-film batteries accounted for the largest share of the overall
other applications solid state batteries market, and expected to be valued at US$ 87.9 million in
2019 and US$ 720.9 million by 2029, at the highest CAGR of 23.4% during the forecast period.
Figure 7.26: Other Applications Solid State Batteries Market Forecast by
Type, 2018-2029 (US$mn)
Source: visiongain 2019
-
200.0
400.0
600.0
800.0
1,000.0
1,200.0
1,400.0
1,600.0
1,800.0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Thin-film batteries Bulk batteries Other batteries

3. www.visiongain.com/electronics Page 93
Solid State Batteries Market Report 2019-2029:
Forecasts & Analysis by Type (Thin-Film, Bulk, Others) By Application (Consumer Electronics, Electric
Vehicles, Medical Devices, Wearable Devices, Other Applications), Regional And Leading National Markets
Plus Profiles Of The Leading Companies Developing Advanced Battery Technologies For Electric (EV) &
Hybrid Vehicle (HEV), Energy Storage Technologies (EST) And Internet of Things (IoT)
8.5 RoW Solid State Batteries Market Analysis and Forecast
2019-2029
In this report the rest of the world (RoW) region includes South America and Middle East and
Africa regions.
Table 8.21 RoW Solid State Batteries Market Forecast 2019-2029 ($mn,
AGR %, CAGR %, Cumulative)
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2019-29
Revenue
($mn) 84.0 88.3 99.5 112.8 128.5 147.4 169.8 207.7 262.9 355.8 512.1 780.0 2,864.8
AGR % 4.9% 5.2% 12.6% 13.3% 14.0% 14.6% 15.2% 22.4% 26.6% 35.3% 43.9% 52.3%
CAGR 2019-24 (%)
14.0 2024-
29
35.7
CAGR 2019-29 (%) 24.3
Source: Visiongain 2019
The solid state batteries market in Rest of the World was valued at US$ 84.0 million in 2018 and is
expected to reach US$ 780.0 million by 2029, at a CAGR of 24.3% during the forecast period from
2019 to 2029.
Figure 8.33: ROW Solid State Batteries Market Forecast 2019-2029 ($m,
AGR %)
Source: Visiongain 2019
0%
10%
20%
30%
40%
50%
60%
0
100
200
300
400
500
600
700
800
900
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
MarketSize(US$mn)
ROW AGR %

4. www.visiongain.com/electronics Page 101
Solid State Batteries Market Report 2019-2029:
Forecasts & Analysis by Type (Thin-Film, Bulk, Others) By Application (Consumer Electronics, Electric
Vehicles, Medical Devices, Wearable Devices, Other Applications), Regional And Leading National Markets
Plus Profiles Of The Leading Companies Developing Advanced Battery Technologies For Electric (EV) &
Hybrid Vehicle (HEV), Energy Storage Technologies (EST) And Internet of Things (IoT)
vehicles in China by the end of 2020. And, by further promoting its local production of electric
motors (powertrain components), batteries, inverters, and other electrified-vehicle core
technologies, Toyota aims to further accelerate its China-based vehicle electrification efforts.
December 2017: Toyota Motor Corporation (Toyota) announced its plans toward the
popularization of electrified vehicles for the decade 2020-2030. Toyota's electrified vehicle strategy
centres on a significant acceleration in the development and launch plans of hybrid electric
vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel
cell electric vehicles (FCEVs).
September 2017: Mazda Motor Corporation (Mazda), DENSO Corporation (DENSO), and Toyota
Motor Corporation (Toyota) signed a contract today to jointly develop basic structural technologies
for electric vehicles. Furthermore, the three companies have also decided to establish a new
company consisting of selected engineers from the three companies to ensure the efficient
implementation of the joint technological development projects.
July 2017: Toyota Industries announced that Toyota Electric cars will use solid-state batteries for
long range and quicker charging. The company also added that it plans to introduce the car with
solid-state batteries, which will be built on an all new chassis, to the Japanese market by 2022.
9.1.5 Toyota Industries Analysis
Toyota Industries is putting significant amount of efforts in research on next-generation batteries,
whose energy density greatly exceeds that of the lithium-ion batteries. It has filed more than 2,000
patent applications for battery-related technologies. The company is strengthening its collaboration
with outside research organizations and have been building collaborative structures for production
technology since 2010. In addition, to encourage the adoption of electric-powered vehicles (electric
vehicles, plug-in hybrids, etc.), Toyota is developing various key technologies for electric
motorization. Furthermore, the company is also trying to joint its efforts with other companies to
explore the opportunities in the solid state batteries market. For instance, in January 2019, Toyota
Industries and Panasonic concluded a business-integration contract and a joint-venture contract
toward the establishment of a new company (joint venture) related to the automotive prismatic
battery business. The scope of the joint venture's business operations will cover research,
development, production engineering, manufacturing, procurement, order receipt, and
management related to automotive prismatic lithium-ion batteries, solid-state batteries, and next-
generation batteries. Toyota will transfer equipment and personnel to the joint venture in the areas
of development and production engineering related to battery cells. Panasonic will transfer
equipment, other assets, liabilities, personnel, and other items to the joint venture in the areas of
development, production engineering, manufacturing (at plants in Japan and in Dalian, China),