Zinc-Bromine Battery Market

Zinc-Bromine Battery Market Size (2024 - 2029)

The Global Zinc-Bromine Battery Market was valued at USD 10.68 billion in 2023 and is projected to reach USD 31.61 billion by 2029, growing at a CAGR of 24.24% from 2024 to 2029.

Market Trends:

Zinc-bromine batteries are mainly employed in large-scale electric vehicles. As an example, zinc-bromine batteries have been installed in buses of Volkswagen. The Hotzenblitz company has designed an electric vehicle specially designed to run on a zinc-bromine battery.

Market Drivers

The global zinc-bromine battery market is predicted to grow at a gradual pace over the foreseen period. The factors driving the market for zinc-bromine batteries are escalating the call for longer life, better scalability, and higher capacity of zinc-bromine batteries. Additionally, the need for advanced technologies for energy storage for utilities and electric vehicle applications is driving the expansion of the zinc-bromine battery market. Another factor that is supposed to drive the worldwide market is the comparatively lower manufacturing costs than conventional batteries.

Market Restraints:

Zinc-bromine batteries have certain limitations. To avoid dendrites, the zinc-bromine battery must be fully discharged after a certain time. Zinc is very soluble in the aqueous zinc bromide electrolyte, which can cause its diffusion in the cell. Diffusion causes the bromine solution to react directly with the zinc electrode. This can lead to self-discharge, which can shorten battery life. These disadvantages can have a negative effect on the zinc-bromine battery market for years to come.

Market Opportunities:

The zinc-bromine flow battery is an electrochemical cell that stores electrical charges and generates direct current (DC) by converting chemical energy into electrical energy. The zinc-bromine battery is a type of hybrid flow battery, it uses electrodes that do not participate in electrochemical reactions but simply serve as substrates for the reactions. The zinc-bromine battery has greater particular energy (energy per unit mass), which leads to a smaller battery size and a greater battery capacity (charge delivered at a given voltage). In addition, the zinc-bromine battery can be produced from affordable and readily available components.

Market Challenges:

The formation of dendrites can result in a short circuit in the cell that is dangerous, to make this not happen, the zinc-bromine battery must be fully discharged after some time. These drawbacks can have the opposite effect on the global zinc-bromine battery market.

ZINC-BROMINE BATTERY MARKET REPORT COVERAGE

Market Segmentation:

Zinc-Bromine Battery Market - By Application:

• Domestic
• Industrial

As an industrial application, zinc-bromine batteries are employed in large-scale electric vehicles. Toyota Motor Corporation is investigating the development of a zinc-bromine battery for use in an electric vehicle called the EV-30, which can be employed for urban transportation. It hopes to introduce this new vehicle in Japan in the coming years. Important research is being carried out in different parts of the world to use zinc-bromine batteries in energy storage applications.

Zinc-Bromine Battery Market - By End-Users:

• Automotive
• Power Industries
• Renewable Energy
• Electrical and Electronics

The most promising application is utility storage, as it provides a way to store clean energy for a longer period of time than conventional batteries.

Market Regional Analysis:

The Zinc-Bromine Battery Market includes being

• North America - U.S., Canada.

• Europe - The UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific - India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America - Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• Middle East & Africa - KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

The escalating need to use energy storage devices with higher storage capacity and longer life in high voltage electrical applications in North America and Asia-Pacific (particularly Australia, Japan, and the United States) will boost the zinc-bromine battery market in these regions in the coming years. The growing need to use light vehicles and the demand to use energy-saving technologies like zinc-bromine batteries in electric vehicles are factors that are predicted to drive the market boom in North America and Europe in the near future. In these areas, the escalating use of light-duty vehicles and the use of energy-saving technologies are likely to drive the zinc-bromine battery market in the near future.

Market Key Players:

Some of the key players operating in the Zinc-Bromine Battery Market are

1. Sandia National Laboratory
2. Covertel Power Pty. Ltd
3. Primus Power Corporation
4. Redflow Energy Storage Solutions Ltd
5. Smart Energy GB Ltd
6. ZBB Energy Corporation (now Ensync Energy Systems)
7. ZBest Technology Ltd

Market Recent Developments:

• Primus Power company introduces the second-generation zinc-bromine flow battery. Primus Power has introduced its second-generation battery, EnergyPod 2, the US company declared on February 21.
• Gelion, a Sydney-based energy storage start-up, has officially entered Australia's burgeoning battery market, with a new approach to zinc-bromine chemistry that it says may offer a cheaper, safe, and durable alternative to lithium-ion.