Asia Pacific Solid State Battery Market Size & Outlook
Asia Pacific solid state battery market, 2016-2028 (US$M)
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Asia Pacific solid state battery market highlights
- The Asia Pacific solid state battery market generated a revenue of USD 320.6 million in 2021.
- The market is expected to grow at a CAGR of 37.7% from 2022 to 2028.
- In terms of segment, consumer & portable electronics was the largest revenue generating application in 2021.
- Electric Vehicles is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2022 to 2028.
Asia Pacific data book summary
| Market revenue in 2021 | USD 320.6 million |
| Market revenue in 2028 | USD 3,016.3 million |
| Growth rate | 37.7% (CAGR from 2021 to 2028) |
| Largest segment | Consumer & portable electronics |
| Fastest growing segment | Electric Vehicles |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Consumer & Portable Electronics, Electric Vehicles, Energy Harvesting, Wearable & Medical Devices |
| Key market players worldwide | Samsung SDI Co Ltd GDR - 144A, Solvay SA, Cymbet, Robert Bosch Engineering & Business Solutions, TotalEnergies SE |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 51.9% of the global solid state battery market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,016.3 million by 2028.
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Solid State Battery Market Scope
Solid State Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific solid state battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solid state battery market will help companies and investors design strategic landscapes.
Consumer & portable electronics was the largest segment with a revenue share of 33.19% in 2021. Horizon Databook has segmented the Asia Pacific solid state battery market based on consumer & portable electronics, electric vehicles, energy harvesting, wearable & medical devices covering the revenue growth of each sub-segment from 2016 to 2028.
Shift of production industry toward emerging economies, particularly China and India, is expected to positively influence market growth over the forecast period. The region is home to several rapidly expanding industries as well, such as electronics, healthcare, and others, which present vast potential for solid-state battery manufacturers in the region.
Additionally, Asia Pacific region is recognized by the availability of a large skilled workforce at low cost along with ample support from the local governments. Japan and China are the major producers of automobiles. Growing automobile production in the country is anticipated to drive the demand for solid-state batteries in the automotive sector over the forecast period.
The market is highly competitive in nature owing to the presence of numerous automotive manufacturers, specifically in Japan. The manufacturers in the country are involved in mergers and acquisitions with solid state battery manufacturing companies to develop suitable batteries for EVs.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific solid state battery market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific solid state battery market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Asia Pacific solid state battery market size, by country, 2016-2028 (US$M)
Asia Pacific Solid State Battery Market Outlook Share, 2021 & 2028 (US$M)
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