This report comes from Amsterdam-based ASDReports.
The growing consumer demand for a reliable energy storage has resulted in a series of inventions in the energy-storage market. In recent years, significant progress has been made in in advanced batteries, fuel cells, flywheels, and ultracapacitors. There has been significant progress in increasing the expected battery life and in developing battery technologies capable of effectively powering digital devices, power tools, electric-vehicle batteries, and plug-in hybrid electric vehicles.
A hydrogen fuel cell is a zero-emission source of power. Some fuel cells use natural gas or hydrocarbons as fuel, but even those produce far less emissions than conventional sources. Therefore, fuel cells eliminate or at least vastly reduce the pollution caused by burning fossil fuels, and because they are also quiet in operation, they also reduce noise pollution. The advantages of advanced energy storage devices are significantly increasing consumer demand with a trend expected to continue. A few comments on several developments are in order.
A key drivers of the advanced-battery industry is that it is an environmentally friendly technology with fewer pollution and battery-disposal issues than other technologies. The policies and environmental standards given by different regulating authorities help in assessing the advanced battery manufacturers in terms of the environmental hazards associated with conventional batteries. The technological aspects of each advanced battery differ based on different parameters, such as the duration of storage, capacity, energy density, cost, and life cycle. Advanced batteries are secondary electrochemical energy storage devices and are large in terms of size and energy capacity. They are technologically advanced and environmentally friendly. The advanced batteries market is expected to increase from $6,500 million in 2010 to $20,190 million in 2020 at a compound annual growth rate (CAGR) of 12%.
Lithium ion battery market
Lithium-ion (Li-ion) batteries power devices such as laptop computers, mobile phones, cameras, electric vehicles, and power tools. Li-ion batteries provide high energy densities which lets the electronic devices recharge less frequently. Also, Li-ion batteries weigh less when compared to other forms of rechargeable batteries.
With mounting oil supply concerns and environmental pressures, Hydro-electric Vehicles (HEV) and plug-in HEVs (PHEVs) are expected to be the next generation technology for light and heavy-duty vehicles. The Li-ion battery market for hybrid electric vehicles is rapidly emerging with massive potential. Although Li-ion batteries for hybrid electric vehicles are still in an emerging phase, they are most likely to displace the Nickel-metal Hydride (NiMH) share in the future due to their growing prominence.
NiMH battery market
This well established and understood technology offers a dual advantage of low cost and acceptable performance. HEVs equipped with this battery have a greater range and offer twice the energy density of lead acid batteries at 80 watt-hours/kg. NiMH has economies of scale to reduce the overall battery system cost and is expected to remain a viable option for conventional HEVs.
These are one of the most promising energy storage technologies attracting the highest amount of investor interest among other power supply technologies. Driven by the need to compensate for the ill-effects and inconveniences of lead-acid batteries, stationary fuel cells are largely used for backup-power applications. Fuel cells are considered low-maintenance, environmentally friendly storage with long life spans for long periods of back-up power. Because the market is in its developmental stage, it is characterized by low sales volumes, and consequent price falls due to lack of adequate demand. Nevertheless, the potential of fuel cells are being actively explored by the power-supply players across the value chain. The
global fuel cells market is expected to increase from $543.8 million in 2010 to $3710.3 million in 2020 at 21.2% annually.
Ultracapacitors can store a significant amount of energy due to the enormous surface area created by their porous carbon electrodes and small charge separation created by a dielectric separator. The charges they hold are analogous to the static electricity that builds on a surface, but are much greater due to the extremely large surface area of their interior materials.
Energy-storage mechanisms in supercapacitors are highly reversible and so allow charging and discharging over hundreds of thousands of cycles. Total number of charge-discharge cycles for commercial ultracapacitors varies from 500,000 to 1 million. Ultracapacitors have high efficiency and are best suited for applications that require high power density, such as consumer electronics, transportation, industrial and telecommunication.
The report authors also offers a for-sale report, Advanced Clean Energy Storage Devices – Global Market Size, Market Analysis by Major Storage Device, and Competitive Landscape to 2020. It gives, say authors, a clear understanding of the advanced energy storage devices market. It provides insight into key drivers impacting the market and its challenges. The report also provides data regarding the historical and forecast growths, market segment analysis, investment analysis, competitive landscape, major regulations and support programs.
Filed Under: Energy storage, News