The global solid-state battery market was valued at $65.8 million in 2019 and is estimated to reach $391.9 million by 2025, growing at a compound annual growth rate (CAGR) of 35.7% over the forecast period.

Solid-state batteries are among the new generation of advanced battery systems that offer several advantages over the current battery technologies, such as lithium-ion batteries. Their use of solid rather than liquid electrolytes lets these batteries operate at high workable temperatures, charge faster, and store a massive amount of energy in a compact area. However, at this point they are very expensive as compared with other battery types.