In recent years, there has been a growing demand for delayed electricity in various industries. This need arises from the need for backup power, to cover the intermittency of supply and demand, and to provide a smooth transition for fierce inputs and outputs. To meet these needs, various technologies have been developed, including supercapacitors, conventional batteries, and chemical factory-like facilities.
According to the latest analysis report by Zhar Research, “Redox Flow Batteries: 26 Market Forecasts, Roadmaps, Technologies, 48 Manufacturers, Latest Research Pipeline 2024-2044”, the redox flow battery (RFB) market is expected to reach $22 billion in sales by 2044. The report predicts that a significant portion of this market will be driven by non-grid applications such as microgrids, industrial processes, and solar buildings capable of disconnection from the grid. This will involve the use of hybrid designs, combining the strengths of RFBs and batteries.
While RFBs offer many advantages for non-grid applications, they face competition from other battery-less solutions such as pumped hydro and underground compressed air for mainstream grid storage. However, RFBs have the capability to fulfill the growing need for Long Duration Energy Storage (LDES), which is becoming increasingly important in the energy industry. Zhar Research has also covered this aspect in their LDES reports.
Hybrid energy storage technologies, such as Battery Supercapacitor Hybrids (BSHs), are gaining traction in the market and are expected to outsell some of the core technologies from which they originated. Zhar Research’s report, “Lithium-ion capacitors and other battery supercapacitor hybrid storage: detailed markets, roadmaps, deep technology analysis, manufacturer appraisal, next successes 2024-2044”, predicts that BSHs, starting with the ones called Lithium-ion Capacitors (LICs), will reach $10 billion in sales by 2044. These hybrids offer the best of both worlds, providing both power and speed, making them a preferred choice for applications that require a quick response, such as unmanned mining, thermonuclear fusion power, and electromagnetic and electrodynamic weapons.
One of the key advantages of LICs is their fit-and-forget capability, making them ideal for applications with a long equipment life. While their cycle life may be lower compared to supercapacitors, their durability is still much higher than traditional batteries. This makes them a popular choice for industrial applications, as demonstrated by companies such as Kurt Energy in Germany, which has successfully implemented LICs in large excavator vehicles, and SURE in the Netherlands, which uses LICs in their rental e-bikes for improved damage tolerance, life, and safety.
Zhar Research’s report also highlights the potential for further advancement in hybrid energy storage technologies, with a significant research pipeline, particularly in 2023 and 2024. This includes the development of BSHs using different materials, such as metal organic frameworks (MOF), zeolite ionic frameworks (ZIF), and MXenes, which could lead to lower costs, better performance, and easier disposal.
In addition to BSHs, the report also focuses on hybrid RFBs, which are expected to outsell traditional RFBs. The traditional RFB market has been steadily growing, despite using expensive vanadium, which must be recovered at the end of its life. To overcome this challenge, hybrid RFBs have been introduced, which combine the benefits of RFBs and conventional batteries. These hybrids offer a significant improvement in terms of size, weight, and cost, without compromising on performance. The report, “Redox Flow Batteries: Market Forecasts, Roadmaps, Technologies, Manufacturers, Research Pipeline 2024-2044”, predicts that by 2044, 75% of the $22 billion RFB market will be served by non-vanadium versions, such as iron, HBr, or HMn-based chemistries.
Both BSHs and hybrid RFBs will primarily be sold for electrical engineering applications, with some demand from electronics applications as well. However, these two hybrids will also compete in some markets, such as zero-emission electricity generation and solar buildings, where both technologies offer suitable solutions.
The report concludes that hybrid energy storage technologies, including BSHs and hybrid RFBs, should not be ignored, as they present significant business opportunities for companies involved in the production of value-added materials and devices. Zhar Research’s overview report, “Supercapacitor, pseudocapacitor, CSH and BSH hybrid market forecasts in 30 lines, 95 manufacturers appraised, technology roadmaps, next successes 2024-2044”, also highlights the potential for tantalum capacitor-supercapacitor hybrids (CSHs) in smaller devices, serving the needs of the military, laser, and radar industries
