Galaxy Securities: The prospects for solid-state batteries are broad, and the trend of industrialization is accelerating

The research report from Galaxy Securities believes that under the guidance of policies and driven by the demand from emerging markets such as low-altitude economy and humanoid robots, the pace of solid-state battery industrialization is accelerating. At this stage, semi-solid batteries have already been installed in vehicles, and the market for all-solid-state batteries is promising. The timeline for mass production of solid-state batteries by domestic and international battery and vehicle manufacturers is gradually becoming clearer, with expectations for small-scale vehicle installations of all-solid-state batteries starting in 2027 and entering mass production by 2030. The report suggests that the technological and industrial chain resource advantages of traditional lithium battery equipment manufacturers are likely to continue into solid-state batteries, while incremental equipment such as dry-process electrodes and isostatic pressing will bring new market opportunities. It is recommended to pay attention to the progress of traditional lithium battery equipment manufacturers and dry-process electrode equipment manufacturers in terms of solid-state battery equipment research and development, customers, and orders