Increased development in electrical storage systems has led to the rising success of electromobility and stationary applications. The advantages of renewable energy have also impacted the demand for energy storage systems. The electronic industry, governments, and researchers are looking to further develop energy storage systems in an attempt to keep up with demand. The transportation, power grid application, and electronic components industries are the main developers contributing to the future success of the battery storage system.
Development in the transportation sector
As oil and gas prices continue to increase, the cost to operate conventional vehicles will also rise and reduce the price gap between conventional and electric vehicles (EV). In the rail and ship transportation sectors, the need for electrical development stems from potential damage to the environment and the high cost associated with conventional rail and ship engines.
Development in plug-in hybrid electric vehicles (PHEV) and battery-based electric vehicles (BEV) are the best examples in the electric car industry. Due to the positive experience of the PHEV and BEV, sales numbers for EV’s have shown very promising growth in the past few years. Figure 6 shows EV sales increased from half a million in 2013 to 3.1 million in 2017 (IEA, 2019). In 2018 sales increased to 5.1 million vehicles and it’s believed the rate of growth will continue to rise (Maiser et al., 2014).
Furthermore, many heavy-duty hybrid vehicles are rising in popularity, but are not yet as popular as passenger EV sales. Electric buses and trucks also have considerable potential to add to the demand for the battery pack. However, one issue is heavy-duty EV’s cannot be commercialized until accepted by the government and the public. Development in electric locomotives could solve logistical problems of freight trains with internal power supply considering operators could use electrified trains more flexibly compared to traditional ones.
Development in the electrical storage system
The energy storage system is essential for the power grid of a product. This system ensures the continuity of the power and helps to maintain the health of the power grid. Until the development of renewable energy systems, such as solar, wind, and tide energy, becomes more reliable, the electrical storage system is necessary. Energy storage comes in many forms and sizes (World Energy Council, 2019).
Table 1 Characteristics of different types of the electric storage system (Zablocki, 2019)
|Max Power Rating (MW)||Discharge time||Max cycles or lifetime||Energy density (watt-hour per liter)||Efficiency|
|Pumped hydro||3,000||4h – 16h||30 – 60 years||0.2 – 2||70 – 85%|
|Compressed air||1,000||2h – 30h||20 – 40 years||2 – 6||40 – 70%|
|Molten salt (thermal)||150||hours||30 years||70 – 210||80 – 90%|
|Li-ion battery||100||1 min – 8h||1,000 – 10,000||200 – 400||85 – 95%|
|Lead-acid battery||100||1 min – 8h||6 – 40 years||50 – 80||80 – 90%|
|Flow battery||100||hours||12,000 – 14,000||20 – 70||60 – 85%|
|Hydrogen||100||mins – week||5 – 30 years||600 (at 200bar)||25 – 45%|
|Flywheel||20||secs – mins||20,000 – 100,000||20 – 80||70 – 95%|
Table 1 shows the characteristic of the lithium-ion battery as an electrical energy storage system. In comparison to other methods, the lithium-ion battery storage system has the highest efficiency coupled with significant energy density. This characteristic makes the lithium-battery storage system the best option for the power grid.
The battery storage system demand is expected to grow by USD 8.5 million by 2023 according to the MarketsandMarkets forecast, which is approximately 33.9% compound and annual growth rate (CAGR) between 2018 and 2023(MarketsandMarkets, 2019). Figure 7 shows the contribution of the battery storage system and the potential of the battery pack market.
Development in consumer & industrial battery market
Portable batteries used in consumer goods, such as laptops and mobile phones, have created a rise in compact battery pack sales. The expected growth in the portable battery market for the year 2020 is between USD 12 billion to USD 19 billion (Maiser et al., 2014).
The usage of the battery pack in industrial applications is also showing significant growth. Many electronic devices for production use the battery pack as a power source. The military is also a significant user of battery packs. Additionally, all vehicles, including airplanes and trains, require internal electric devices that utilize battery packs. All things considered, the battery pack has quite a broad market in the consumer and industrial markets.
Maiser, E. (2014). Battery packaging – Technology review. AIP Conference Proceedings, 1597(February), 204–218. https://doi.org/10.1063/1.4878489
MarketsandMarkets. (2019). Battery Energy Storage System Market by Element (Battery, Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, Sodium Sulfur), Connection Type (On-Grid And Off-Grid), Ownership, Application, and Geography – Global Forecast to 2023. https://www.marketsandmarkets.com/Market-Reports/battery-energy-storage-system-market- 112809494.html
World Energy Council. (2019). Energy Storage Monitor: Latest trends in energy storage. www.worldenergy.org