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Thermal Batteries: Introduction

  • Thermal batteries are considered primary batteries. These batteries are known as molten salt batteries or liquid sodium batteries. They are useful in applications that need long shelf life with no maintenance, high power density, and extreme external environment.
  • Thermal batteries are widely used as new energy sources in electronic vehicles, guided missiles, and aerospace applications. These batteries supply power to applications for several months, and in some cases, years, before they need to be replaced.

Key Drivers and Restraints of Global Thermal Batteries Market

  • Rise in investment in end-user industries across the globe is estimated to be a key driver of the global thermal batteries market during the forecast period. These batteries are traditionally used in aerospace & aviation and military & defense industries. However, a few automobile manufacturers are developing and using thermal batteries in electric vehicles. Thus, demand for thermal batteries is anticipated to rise in the near future.
  • Thermal batteries possess advantages such as long life. They do not self-discharge. This is expected to drive the thermal batteries market in the near future. These batteries have life of more than 20 years. They also remain inert during storage and can withstand environmental stresses. These advantages are likely to propel the demand for thermal batteries during the forecast period.
  • Thermal batteries can develop high surface temperatures and have non-linear output voltages. This is expected to restrain the market during the forecast period.

Global Thermal Batteries Market: Segmentation

  • The global thermal batteries market can be segmented in terms of type and end-user
  • In terms of type, the global thermal batteries market can be divided into phase change thermal batteries, encapsulated thermal batteries, and unencapsulated thermal batteries. The encapsulated thermal batteries segment is anticipated to account for notable share of the global market in the near future, as these batteries possess high volumetric heat capacity, enabling electricity generation without inducing a phase change of the battery material.
  • Based on end-user, the global thermal batteries market can be segregated into aerospace & aviation, military & defense, automotive, marine, utility, and others. The military & defense segment is expected to expand at a significant CAGR during the forecast period. Thermal batteries have long operational duration and multiple output voltages & polarities. Thus, demand for thermal batteries is high in military & defense weapons.

Global Thermal Batteries Market: Regional Segmentation

  • In terms of region, the global thermal batteries market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • North America dominated the global thermal batteries market in 2020. It is one of the leading regions in aerospace & aviation and military & defense industries. Therefore, demand for thermal batteries is high in the region. The U.S. is a major player in global military and aerospace industries. The country is estimated to dominate the thermal batteries market in North America during the forecast period.
  • The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, due to rise in industrialization and urbanization in China, India, Indonesia, Japan, and Singapore. Therefore, demand for thermal batteries is expected to increase significantly in the region in the near future.
  • The thermal batteries market in Europe is anticipated to expand significantly during the forecast period. Increase in demand for civil and fighter aircraft is projected to propel the demand for thermal batteries in the region.

COVID Impact on Global Thermal Batteries Market

  • Demand for thermal batteries is high in aerospace & aviation, military & defense, automotive, marine, and utility industries. However, the outbreak of the COVID-19 pandemic has disrupted the supply chain as well as availability of manpower due to the lockdown in various countries. This has led to a decrease in production of thermal batteries. This coupled with low demand from end-users is adversely affecting the global thermal batteries market.

Key Players Operating in Global Thermal Batteries Market

  • Advanced Thermal Batteries, Inc.
  • APS-ASB India Pvt Ltd
  • DfR Solutions
  • Diehl Stiftung & Co. KG
  • EaglePicher Technologies
  • EnergyNest AS.
  • EnerSys
  • SINOEV Technologies, Inc
  • TÃœBiTAK
  • Wuhan JOHO Technology Co., Ltd.

Global Thermal Batteries Market: Research Scope

Global Thermal Batteries Market, by Type

  • Phase Change Thermal Batteries
  • Encapsulated Thermal Batteries
  • Unencapsulated Thermal Batteries
  • Others

Global Thermal Batteries Market, by End-user

  • Aerospace & Aviation
  • Military & Defense
  • Automotive
  • Marine
  • Utility
  • Others

Global Thermal Batteries Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • South Korea
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

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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.

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Thermal Batteries Market

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