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. 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.

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. 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.

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. 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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

.