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Next Generation Liquid Metal Battery Market By Type (Mg-Sb Battery, Pb-Sb Battery, Na-S Battery) By Application (Portable Devices, Power Grids, Fuel Vehicles): Growth, Future Prospects, and Competitive Analysis, 2015 - 2027

Market Insights

The development of a liquid metal battery is a novel approach to solving grid-scale electricity storage problems. With the capacities of liquid metal batteries, the integration of renewable energy into the power grid can be increased. Furthermore, liquid metal batteries are thought to increase the grid's stability. They are also likely to compensate for the need for additional grid transmission, generation, and distribution properties. The liquid metal battery Application market is reasonably competitive, with continuous advances aimed at utility-scale energy storage applications. Growing at a rapid pace, the global Next Generation Liquid Metal Battery is poised to grow at a CAGR of over 11% from 2021 to 2027. The market value for the Next Generation Liquid Metal Battery industry was valued at USD 3,500 million on a global level in 2020. With increasing acceptance, the global Next Generation Liquid Metal Battery demand will reach over USD 6,700 million in 2027.

Next Generation Liquid Metal Battery Market

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Next-Generation Liquid Metal Battery to Offer Cost-Effective Grid Scale Energy Storage 

Next-Generation Liquid Metal Battery is one of the market's most cost-efficient energy storage technology. Mg-Sb and Sodium-sulfur batteries are widely used for grid-scale energy storage applications. Next-Generation Liquid Metal Batteries are mainly used to store energy generated by renewable sources such as wind turbines, solar energy, etc. Mg-Sb batteries are especially applied in grid-scale applications to leverage their flexible positioning and minor footprint. With a growing installed capacity base for renewable energy generation, the demand for storage needs to be expanded. This, in turn, is likely to drive the demand for Next Generation Liquid Metal Batteries.     

Automotive Industry to Mobilize the Demand for Next Generation Liquid Metal Batteries

Advances in the automotive industry coupled with strong demand for EVs in China, Indonesia, Brazil, Mexico, Thailand, India, South Korea, and Vietnam are expected to boost the market's growth. Rapidly depleting traditional energy sources coupled with increasing pollution, the demand for electric vehicles is on the rise over the forecast period. As a result, the automotive industry is expected to witness a paradigm shift from traditional fuel to battery-powered vehicles. An increase in demand for electric vehicles is likely to boost the demand for Next Generation Liquid Metal Battery.

Mixed Impact of COVID 19 on Next Generation Liquid Metal Battery Industry

The demand for Next Generation Liquid Metal batteries has plunged by a decline in the automotive industry. However, the decline in growth rate was offset to some extent by the power grid application industry. Amidst the demand for Next Generation, Liquid Metal batteries took a deep of around 10% in 2020 and are all set to bounce back with the revival of growth trend amongst the Application industries.

 

Next Generation Liquid Metal Battery Market

Emerging Economies to Boost the Demand for Next Generation Liquid Metal Battery Market

As against developed economies, Asia Pacific is leading the production and demand for electric vehicles & portable devices. Moreover, the region has also taken the lead in energy generation from renewable energy sources. This call for efficient energy storage solutions and Next Generation Liquid Metal Battery are the best fit for these applications. China, South Korea, Japan, Taiwan, and India are fighting for an increased share in this industry. While Vietnam, Thailand, Malaysia, Indonesia, etc. Future growth destinations for the production as well as demand for Next Generation Liquid Metal Battery. With rising fuel prices with limited availability, the research & development is focused on renewable sources. This has given rise to increasing demand for Next Generation Liquid Metal Battery. Asia-Pacific dominated with over 56% share in 2020. 

Global Next Generation Liquid Metal Battery Market is led by the Pb-Sb Battery Application.

Na-Sb Battery, Pb-Sb Battery, and Mg-Sb Battery are the key Application Applications through which Next Generation Liquid Metal Battery is performed. In 2020, Pb-Sb Battery Next Generation Liquid Metal Battery Application accounted for the largest share of the Next Generation Liquid Metal Battery market. However, Mg-Sb Battery Application is predicted to grow at the fastest CAGR during the forecast period. However, the Next Generation Liquid Metal Battery industry is witnessing considerable challenge of being substituted by other Applications of batteries, and hence the industry participants are consistently working on further expansion of its application base and to improve its performance. 

Electric Vehicles Continue to Dominate the Next Generation Liquid Metal Battery Market 

Some of the major application of Next Generation Liquid Metal Battery includes Portable Devices, Power Grids, and Fuel Vehicles. Fuel Vehicles hold the largest market share in the global Next Generation Liquid Metal Battery industry, with over 40% share in 2020. However, data centers are likely to emerge as a new growth avenue for the Next Generation of Liquid Metal batteries. Over the past few years, Next Generation Liquid Metal Battery has witnessed increasing adoption in data centers. Next-Generation Liquid Metal Battery is ready to take head-on lithium-ion batteries as a low-cost alternative. In 2020, Ambri and TerraScale tucked into an agreement wherein TerraScale will deploy Ambri's Next Generation Liquid Metal Battery into its data center in Nevada.    

Ambri, Pellion Technologies Inc., Aquion Energy, Inc., Panasonic, and Chaowei Power are some of the leading industry participants in the global Next Generation Liquid Metal Battery industry. Next-Generation Liquid Metal Battery is in the growth phase with substantial future growth prospects. As a result, key players are focused on research & development for the launch of innovative products.

The market is anticipated to grow at a CAGR of 11.2% throughout the forecast period.

Mg-Sb Battery, Pb-Sb Battery and Na-S Battery are the different Applications of Next Generation Liquid Metal Battery.

Portable Devices, Power Grids and Fuel Vehicles are the most common applications of Next Generation Liquid Metal Battery

Ambri, Pellion Technologies Inc., Aquion Energy, Inc., Panasonic and Chaowei Power are the key players operating in this market

Electric Vehicles offers tremendous opportunities for growth in near future.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Apr 2021
Category:  Energy
Report ID:   60322
Report Format:   PDF
Pages:   120
Rating:    4.1 (68)
Delivery Time: 24 Hours to 48 Hours   
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