Passenger AVs - solid-state battery market size worldwide 2020 & 2030

This statistic shows the size of the global automotive passenger vehicle solid-state battery market predicted for the years 2020 and 2030. Over the next ten years, the global automotive passenger vehicle solid-state battery market is expected to grow at a compound annual growth rate of roughly 55.8 percent to reach between 1.9 and two billion U.S. dollars in 2030. Solid-state technology allows batteries to be produced with high energy densities that can also withstand high temperatures, making them very attractive on the electric vehicle scene. The high cost and amount of time required to develop these batteries has impeded their implementation into technologies in the past, but the rise in battery powered electric vehicles has triggered research, and the passenger vehicle solid-state battery market itself is expected to grow significantly.