Global Zinc-Bromine Battery- Promising Technology for utility energy storage and electric vehicle application, growing at a CAGR of 15.1% (2018 – 2024)

Industry : Chemical and Material Upcoming ReportsPublished Date : March 12th, 2018
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Global zinc-bromine battery market is projected to grow at a progressive rate during the forecast period. The factors propelling the zinc-bromine battery market are increasing demand for greater shelf life, better scalability, and higher capacity of zinc-bromine batteries. Furthermore, the need of advanced technology for utility-energy storage and electric-vehicle applications is propelling the growth of zinc-bromine battery market. Another factor that is expected to boost the growth of the global zinc-bromine market is comparatively lower manufacturing costs than conventional batteries.

The zinc–bromine flow battery is an electrochemical cell that store electric charges and generates direct current (DC) through the conversion of chemical energy into electrical energy. The Zinc-bromine battery is a type of hybrid flow battery, it uses electrodes that do not take part in the electrochemical reactions but merely serve as substrates for the reactions. Zinc-bromine battery has higher specific energy (energy per unit mass) which results in smaller battery size and higher battery capacity (charge delivered at a given voltage). Rechargeable nature and high specific energy of Zinc-bromine battery makes it ideal for applications in both utility-energy storage and electric-vehicles. Moreover, zinc-bromine battery is made of low-cost and readily available material.

The global zinc-bromine battery market is segmented based on application, end-user, product type, and region. Based on application, the global zinc-bromine battery market is bifurcated into the domestic and industrial applications. In industrial application, zinc-bromine batteries are used in electric-vehicles. Australia has employed the use of Volkswagen buses which use these batteries. Toyota Motor Corporation is working on developing a zinc-bromine battery to be used in urban electric vehicles. Significant research is being carried out in different parts of the world to employ zinc–bromine batteries in energy storage applications and housing projects. Based on end users the zinc-bromine battery market is segmented into electric automobile industries, renewable energy companies for storing clean energy, and electrical and electronic companies. The most promising application is in utility storage as it offers a way of storing clean energy for longer duration than conventional batteries. On the basis of product type, the zinc-bromine battery is segmented into zinc-bromine battery and zinc-bromine gel battery. A zinc-bromine gel battery consists of a gel rather than liquid which acts as a fire retardant.

Geographically the global zinc-bromine market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In North America, USA and Canada are at the forefront of the zinc-bromine battery market. The growth in the region is attributed to the already dominating position of the USA in the flow battery market. Asia Pacific (APAC) region will occupy more market share in the upcoming years. China leads in the APAC region followed by India. Major factor expected to drive the China zinc-bromine battery market is the growing number of projects for utilities, residential, commercial, and industrial applications.

Top key players in global zinc-bromine market are Sandia National Laboratories (USA), Gelion (Australia), CoverTel Power (Australia), ZnBr Batteries (USA), Primus Power (USA), ZBB Energy Corporation (USA), RedFlow Limited (Australia),Wisconsin(USA), ZBEST Power (China), and Smart Energy (China).

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Global Zinc-Bromine Battery- Promising Technology for utility energy storage and electric vehicle application, growing at a CAGR of 15.1% (2018 – 2024)