Emerging Materials and Nanotechnology

Materials for Energy Storage

Energy storage is the capture of energy produced at one time for use later. A device that stores energy is sometimes called an accumulator. Energy comes in multiple forms including radiation, chemical, gravitational potential, electrical potential, electricity, elevated temperature, latent heat and kinetic. Energy storage encompasses converting energy from forms that are hard to store to more conveniently or economically storable forms. Bulk energy storage is dominated by pumped hydro, which accounts for 99% of global energy storage. Efficient energy storage is one of the key points to be solved for a successful development of renewable energies. In addition, the increasing demand for energy sources to power various portable equipment for microelectronics, safety, medical applications, army, smart phones, telecommunications, tools, etc.

The industrial batteries market is projected to reach USD 10.84 Billion by 2021, at a CAGR of 6.5% between 2016 and 2021. The growth of the market can be mainly attributed to the growing demand from the automotive sector, growth in the renewable energy sector, increased recycling efficiency of lead-acid and lithium-based industrial batteries, and superior performance of industrial batteries in terms of energy density. The energy and utility analytics market size is expected to grow from USD 1.81 Billion in 2016 to USD 3.41 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period.