Solid State Battery Market Size Worth USD 95.79 Billion by 2034 | CAGR: 56.0%

The solid state battery market size is expected to reach USD 95.79 billion by 2034, according to a new study by Polaris Market Research. The report “Solid State Battery Market Share, Size, Trends, Industry Analysis Report By Battery Type (Thin Film Battery, Portable Battery), By Capacity, By Application, By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Solid-state batteries are next-generation energy storage solutions that utilize solid electrolytes to enhance safety, energy density, and lifecycle performance compared to traditional lithium-ion batteries. The R&D efforts focused on developing advanced solid electrolytes and compatible electrode materials grow as the market evolves. This innovation-driven approach enables improved thermal stability, faster ion conductivity, and the potential integration of lithium-metal anodes, collectively elevating battery performance across critical parameters such as energy density, charge cycles, and safety standards.

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The solid-state battery landscape is further shaped by the strategic shift toward commercialization through collaborative partnerships among battery developers, material suppliers, and end-use industries. These alliances are boosting pilot-scale production, accelerating technology validation, and streamlining the path to mass manufacturing. Therefore, as companies align their resources to overcome technical and cost barriers, solid-state batteries are increasingly transitioning from laboratory innovation to real-world application, marking a major phase in their market readiness and long-term adoption.

Top of FormSolid State Battery Market Report Highlights

• In terms of battery type, the thin film batteries segment captured 89.8% of revenue share in 2024, as their ultra-slim design is ideal for micro-energy applications in medical devices, wearables, and smart electronics.
• Based on capacity, the below 20mAh segment is expected to register a CAGR of 62.7%, fueled by rising demand from IoT sensors, wireless sensors, and miniaturized electronics requiring compact power solutions.
• In 2024, Asia Pacific held a 54% global market share, benefiting from strong supply chain integration, government support, and rapid commercialization of solid-state battery technologies.
• The solid state battery market in North America is expected to register a CAGR of 55.6% during the forecast period, propelled by reshoring efforts, defense investments, and next-gen battery R&D in the U.S. and Canada.
• A few global key players in the solid state battery market include Altairnano; Beijing Weilan New Energy Technology Co., Ltd.; BrightVolt Solid State Batteries; Cymbet; Hitachi Zosen Corporation; Ilika Ltd.; Ion Storage Systems; ITEN; Johnson Energy Storage, Inc.; Prieto Battery Inc; QuantumScape Corporation; Samsung SDI Co., Ltd.; Solid Power; STMicroelectronics; and Toyota.

Polaris Market Research has segmented the solid state battery market report on the basis of battery type, capacity, application, and region:

By Battery Type Outlook (Revenue, USD Billion, 2020–2034)

• Thin Film Battery
• Portable Battery

By Capacity Outlook (Revenue, USD Billion, 2020–2034)

• Below 20mAh
• 20mAh–500mAh
• Above 500mAh

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Consumer & Portable Electronics
• Electric Vehicles
• Energy Harvesting
• Wearable & Medical Devices
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa