The total renewable energy across the globe reached 2179.09 gigawatts (GW) in 2017, primarily led by solar and wind. However, the increasing penetration of renewables into the energy system poses a number of challenges. One major aspect is that electricity from sun and wind is available only intermittently and with varying timescales. In a bid to ensure grid stability and demand-supply balance, electricity grids which are having a large share of intermittent renewable energy input is witnessing increased demand for reliable energy storage system. Although lithium-ion batteries are expected to dominate the overall battery market as the prices have reduced by 73% since 2010, the battery market continues to evolve to counter the shortcomings of the lithium-ion batteries, such as being small and having low cycle life.
Liquid metal batteries (LMBs) have emerged as a possible solution to the limitation in massive and economically feasible large-scale stationary storage. LMBs consist of three liquid layers. Two liquid electrodes are separated by a molten salt electrolyte; the liquid layers float on top of each other based on density differences and immiscibility. The system operates at an elevated temperature maintained by self-heating during charging and discharging, resulting in a low-cost and long-lasting storage system as compared to other systems, and is expected to offer extreme growth opportunity during the forecast period.
Increasing Solar Power Consumption to Offer Growth Opportunity
There has been an increasing focus across the globe on the deployment of solar photovoltaic (PV) technology. Factors, such as abundantly available solar resources, zero fuel costs over 25-30 years of the project life along with environmental benefits offered by solar PV in tackling the challenges of climate change, bid to overcome limited conventional energy reserves and in turn, catering to energy security issues have made solar PV an attractive and viable option for various governments. In the past five years, China's solar photovoltaic (PV) power generation has witnessed extremely rapid growth, and the installed capacity and solar power generation in the country ranks first in the world. Similarly, high growths were also witnessed in countries such as the US, India, and numerous other European countries. The growth of solar power has been one of the major drivers for the increasing demand for energy storage system. In 2016, global investment in solar energy was USD 113.7 billion, with Asia leading the market. With the expected increase in the consumption of solar energy across the globe, the demand for reliable energy storage systems with greater life cycle is expected to increase, offering huge growth opportunity for liquid metal battery players during the forecast period.
Europe to Offer High Growth Rate
Renewable energy has witnessed one of the fastest growths across Europe during the last decade, and the trend is expected to continue in the coming years as the region makes a transition away from being dependent on imported energy. The increasing share of renewables, especially from fluctuating energy sources such as wind and solar is expected to supplement the demand for energy storage system in the region, which, in turn, offers huge potential growth opportunity for the liquid metal battery market players.
United States Set to Witness High Demand
The United States (US) power sector is in the midst of a profound transformation with the growing replacement of coal-based electricity generation with natural gas. Owing to decreasing cost and vast environmental benefits offered, renewable integration has also picked up at a very rapid pace. Despite policy uncertainty, the United States remained the third-largest growth market for renewables addition across the globe in 2017. In a bid to ensure the stability of aging power grid in the US, large-scale implementation of energy storage systems is being considered vital. In 2017, the United States was one of the major countries that led the global initiatives for the development of energy storage market and is expected to remain the same during the forecast period, which offers huge growth potential for the liquid-battery market players during the forecast period.
The major players include - Ambri Inc., Pellion Technologies Inc., Aquion Energy, Inc., among others.
Reasons to Purchase This Report
- Current and future liquid metal battery market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel).
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1. Executive Summary
2. Research Methodology
2.1 Scope of the Report
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Total Renewable Energy Forecast until 2023
3.4 Installed Solar Capacity Forecast until 2023
3.5 Recent Trends and Developments
3.6 Government Policies & Regulations
3.7 Investment Opportunities
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness – Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products and Services
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Material Type
7.1.1 Magnesium-Antimony (Mg-Sb)
7.1.2 Sodium-Bismuth (Na-Bi)
7.1.3 Lead-Antimony (Pb-Sb)
8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 North America
8.1.1 United States
8.1.3 Rest of North America
8.2.4 Rest of Asia-Pacific
8.3.1 United Kingdom
8.3.5 Rest of Europe
8.4 South America
8.4.4 Rest of South America
8.5 Middle East & Africa
8.5.1 Saudi Arabia
8.5.2 South America
8.5.4 Rest of Middle East & Africa
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
9.1 Ambri Inc.
9.2 Pellion Technologies Inc.
9.3 Aquion Energy, Inc.
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
11. Future of the Market
12.1 Contact Us
*List not Exhaustive
**Subject to availability on public domain