A new report from Zhar Research has provided an insight into the future of energy storage as lithium-ion batteries are predicted to level off within the next two decades.
The 441-page report, titled “Battery-free electrical energy storage and storage elimination milliWh-GWh: markets, technologies 2024-2044” mentions 225 companies in its analysis. It reveals 31 forecasted lines for 2024-2044, with the market estimated to exceed $230 billion by 2044.
This prediction is largely due to the growing requirement for electricity grids to adopt higher levels of wind and solar power. As the power from these sources is intermittent and unable to follow changes in demand, storage without batteries is often used as an alternative. This includes pumped hydro, compressing gases and turning them back into electricity later, and making hydrogen then back to electricity.
Other needs for energy storage are arising from new engineering requiring pulses of power in and out, such as military laser pistols and large stationary laser cannon, as well as medical devices. Fit-and-forget devices and very fast charging are also making batteries less relevant.
Supercapacitors are often used as an alternative to batteries, as well as their variants which are intermediate in technology between conventional capacitors and supercapacitors, or between supercapacitors and batteries.
Commenting on the report, Zhar Research said: “It reveals your enormous opportunities to sell materials and hardware into this new business. In addition, the report has coverage of the move to eliminate electrical storage altogether.”
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.