Hua Yuan Zheng Quan·2026-02-24 08:46Investment Rating - The report indicates a positive outlook for the solid-state battery industry, projecting GWh-level mass production by 2027, driven by collaborative innovation across the entire supply chain [2][6][12]. Core Insights - The solid-state battery industry is rapidly forming a collaborative innovation pattern across "materials, equipment, manufacturing, and applications," with significant advancements expected in materials and processes [6][20]. - Major players like CATL and BYD are expected to dominate the market, focusing on high-end applications in electric vehicles and energy storage [20][21]. - The demand for high-performance batteries is increasing due to the rapid growth of the global electric vehicle market, with solid-state batteries emerging as a strong competitor [20][21]. Summary by Sections Development - Global solid-state batteries are expected to achieve GWh-level mass production by 2027, with a focus on material innovation and process optimization [6][9]. - The supply chain is anticipated to mature over the next 3-5 years, with commercial viability expected around 2030 [9][10]. Process - The electrolyte film formation process is critical, influencing the thickness and ionic conductivity of solid electrolyte membranes [22][23]. - Two main technical routes for semi-solid batteries are identified: one focuses on reducing electrolyte liquid usage, while the other emphasizes in-situ curing processes [22][23]. Equipment - The global solid-state battery equipment market is projected to reach 12 billion yuan by 2026, with significant demand for new equipment such as dry electrode preparation and isostatic pressing [31][32]. - The value share of equipment in the front and middle stages of solid-state battery production is expected to increase significantly compared to traditional liquid batteries, with a combined share of around 80% [32][36]. Key Company Updates - Naconor has successfully delivered high-speed wide-format dry electrode equipment to leading domestic manufacturers, marking a significant milestone in solid-state battery production [4.1][21]. - Lingge Technology has secured contracts for solid-state sulfide systems and is advancing its solid electrolyte pilot line [4.2][26]. - Litong Technology is developing isostatic pressing equipment to enhance the interface density between solid electrodes and solid electrolytes [4.3][41]. - Wuhan Blue Electric is focusing on high-precision testing equipment for solid-state batteries, capable of stable testing under low currents [4.4][30].