Thermal Batteries Market Will See Strong Expansion Through 2026
Thermal Batteries Market: Overview
Thermal battery is a primary reserve battery used to store and release thermal energy. It is a physical cylindrical structure comprising a stack of electrochemical cells, cathode, anode, pyrotechnic thermal energy source, and electrolyte sealed in a hermetic container.
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Thermal batteries, also referred as molten salt batteries or liquid sodium batteries, may compose a single series of stack of cells, or two or more parallel stacks of series cells depending upon their application.
The metallic salt electrolyte in thermal batteries is solid at room temperature and exhibits excellent ionic conducting properties at molten state. Thermal batteries are primarily used in ammunition, space launching, and guided rocket applications owing to their long storage life and high energy density characteristics.
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Thermal Batteries Market: Drivers & Restraints
Thermal batteries are widely used in military, defense, and aerospace industries due to their high thermal capacity per unit volume, high power density, quick activation rate, uniform internal impedance, and better adaptability to robust environments.
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Increase in utilization of thermal batteries in military, defense, and aerospace industries owing to their exceptional properties and favorable attributes is anticipated to drive the global thermal batteries market. Advancement in material and chemical properties of thermal batteries in order to make them multifunctional is expected to offer lucrative opportunities to the global thermal batteries market during the forecast period.
Thermal Batteries Market: Key Segments
In terms of type, the global thermal batteries market can be divided into unencapsulated thermal batteries, encapsulated thermal batteries, phase change thermal batteries, and others. Phase change thermal batteries comprise phase change materials that are used to store and release thermal energy at a wide range of temperatures. Encapsulated thermal batteries possess high volumetric heat capacity, enabling electricity generation without inducing a phase change of the battery material.
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Based on end-use industry, the thermal batteries market can be segregated into aerospace & aviation, military & defense, automotive & transportation, marine, utility, and others. The military & defense segment accounted for major share of the global thermal batteries market in 2017.
Thermal batteries are widely used in artillery and smart ammunitions, bomb kits, guided rockets, tactical missiles, sonobuoys & decoys, and torpedoes owing to the long operating durations and multiple output voltages & polarities. The automotive & transportation segment is anticipated to expand at a rapid pace due to the rise in demand for thermal batteries enabled electric vehicles.
Thermal Batteries Market: Regional Outlook
In terms of geography, the thermal batteries market can be split into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America and Europe constituted significant share of the global thermal batteries market in 2017 due to the presence of major aircraft manufacturers in these regions. The U.S., Canada, the U.K., and France are the leading aeronautics and aerospace component manufacturers.
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Increase in demand for civil and fighter aircraft is projected to propel the demand for thermal batteries market in these countries. Furthermore, rise in demand for electric vehicles is anticipated to boost the demand for thermal batteries market. Asia Pacific and Europe are prominent producers of electric vehicles; therefore, demand for thermal batteries market is estimated to increase significantly in these regions.
Thermal Batteries Market: Key Players
Key players operating in the global thermal batteries market include Advanced Thermal Batteries, Inc., APS-ASB India Pvt Ltd, DfR Solutions, Diehl Stiftung & Co. KG, EaglePicher Technologies, EnergyNest AS., EnerSys, MISSILES & SPACE BATTERIES LTD, SINOEV Technologies, Inc, TÜB?TAK, and Wuhan JOHO Technology Co., Ltd. These players are focusing on expanding their capabilities in research, design, and development of manufacturing technologies of thermal batteries through mergers and collaborations with other stakeholders.