The electric vehicle solid state battery market is experiencing growth due to various factors, including a rise in the demand for electric vehicle fast charging technology, increasing need for long-range electric vehicles, and increased safety as compared to lithium-ion batteries. By region, the Asia-Pacific region is expected to exhibit the fastest compound annual growth rate (CAGR) until 2035.

Portland, OR, March 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electric vehicle solid state battery market generated $0.37 billion in 2025, and is estimated to reach $1.9 billion by 2035, witnessing a CAGR of 18.0% from 2025 to 2035. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2025 - 2035
Base Year	2025
Market Size in 2025	$0.37 Billion
Market Size in 2035	$1.9 Billion
CAGR	18.0%
No. of Pages in Report	218
Segments Covered	Vehicle Type, Propulsion Type, Battery Energy Density, and Region
Drivers	Rise in the demand for electric vehicle fast charging technology
	Increased demand for long-range electric vehicles
	Increased safety compared to lithium-ion batteries; the risk of overheating is lower with solid state batteries
Opportunities	Rise in adoption of zero-emission electric vehicles
	Favorable government regulations
	Development of battery-as-a-service model
Restraints	Higher cost compared to conventional EV batteries
	Technical difficulties with the development of solid-state batteries

Covid-19 Scenario:

• The outbreak of COVID-19 had a negative effect on the global electric vehicle solid state battery market, as it disrupted the entire global automotive supply chain.
• At the same time, the demand for electric vehicles decreased drastically due to the COVID-19 pandemic.
• The biggest issues the automotive industry faced because of COVID-19 included a limited supply of auto parts, a decline in new car sales, the closure of manufacturing plants, and a loss of working capital.
• However, in the post-pandemic period, significant market players funded the creation of solid-state batteries to address problems with batteries like thermal performance and discharge rate, among others. For instance, the American company QuantumScape has developed solid-state lithium-metal batteries for use in electric vehicles. Such advancements and an increase in R&D efforts in solid state batteries have led to a fast recovery of the market for electric vehicle solid state batteries.

The report offers a detailed segmentation of the global electric vehicle solid state battery market based on vehicle type, propulsion type, battery energy density, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

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By vehicle type, the passenger car segment contributed to nearly four-fifths of the global electric vehicle solid state battery market revenue in 2025 and would dominate the market in terms of revenue during the forecast period. On the other hand, the commercial vehicle segment would display the fastest CAGR of 20.3% throughout the forecast period.

By propulsion type, the battery electric vehicle segment accounted for the highest share in 2025, generating around two-thirds of the global electric vehicle solid state battery market revenue and is projected to rule the roost by 2035. However, the same segment would also showcase the fastest CAGR of 18.7% during the forecast period. Also, the hybrid electric vehicle segment is analyzed in the report.

By battery energy density, the less than 450 Wh/kg segment held the largest share in 2025, accounting for nearly three-fifths of the global electric vehicle solid state battery market and would dominate the market in terms of revenue during the forecast period. The more than 450 Wh/kg segment would cite the fastest CAGR of 18.8% throughout the forecast period.

By region, Asia-Pacific held the major share in 2025, contributing to nearly two-fifths of the global electric vehicle solid state battery market revenue. The same region, simultaneously, would also portray the fastest CAGR of 18.9% during the forecast period. The other provinces studied in the report include North America, Europe, and LAMEA.

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The leading market players analyzed in the global electric vehicle solid state battery market report include st microelectronics, Contemporary Amperex Technology Co. Ltd., TDK Corporation, Solid Power, Cymbet, LG Chem, Panasonic Corporation, Samsung SDI Co. Ltd., QuantumScape Corporation, TOYOTA MOTOR CORPORATION, Ilika, and Northvolt AB. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.   

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