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According to a report published by Fuji Keizai, a prominent Japanese market research firm, the global market size for all-solid-state batteries is anticipated to reach JPY 115.8 billion (approximately RMB 5.4 billion) by 2024. This significant growth is attributed to the escalating demand for oxide-based products from electric vehicles (xEVs), marking a fourfold increase from 2023 figures. Commencing in 2025, sulfide-based products are expected to be adopted by xEVs, further expanding the application realm of all-solid-state batteries into domains including drones, medical devices, and backup power supplies. The report projects that by 2045, the market size will soar to JPY 8,706.5 trillion (approximately RMB 407.35 billion), representing a staggering 299.2-fold jump from 2023 levels.
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