Persistence Market Research has announced the addition of the “Glass Battery Market to Register Steady Expansion During 2017 - 2025" report to their offering.
New York, NY -- (SBWIRE) -- 12/06/2018 -- Global Glass Battery Market: Introduction
Due to the advancements in technology, the electric car industry is witnessing exponential growth. The growth in this industry has led to higher adoption of glass batteries. A glass battery is a type of solid state battery which essentially uses a glass electrolyte and sodium or lithium metal electrodes. Solid state batteries are much more effective than conventional ones. Solid state batteries are particularly long-lasting and lightweight as they use electrolyte and electrode materials. As the battery electrolyte, the glass battery technology generally uses a form of glass which is fixed with reactive alkali metals, such as sodium or lithium. Glass electrolyte is made of a specific mixture of sodium or lithium along with oxygen, chlorine and barium. When charged quickly, the battery avoids the formation of needle-like dendrites on the anode. The battery can also be made using low-cost sodium instead of lithium. Glass batteries have a much shorter charging time than Li-ion batteries. Glass batteries have many benefits. For instance, these kind of batteries experience safer, faster-charging as well as have long-lasting rechargeable batteries.
Glass batteries are a low-cost battery. They are non-combustible and have long battery life with high volumetric energy density along with fast rates of charge and discharge. As compared to lithium-ion battery, sodium and lithium glass batteries have three times the energy storage capacity.
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Global Glass Battery Market: Dynamics
Increasing demand for batteries that have high energy density and longer cycles as well as fast charging capacity is anticipated to be the major factor expected to drive the growth of glass battery market over the forecast period. Moreover, growing demand for long-batteries and safe-design batteries is also expected to add to the growth of the glass battery market in near future. Also, in coming years, glass batteries will be used to store energy produced by renewable sources. This energy could then be used to provide power for homes or to run electric vehicles. This will further act as a driving factor for the growth of glass battery market over the forecast period. As rechargeable batteries are the most appropriate way of storing electric power, the glass battery technology can be also used to store intermittent solar and wind power on the electric grid.
Quick shut down when discharged is anticipated to be a major factor expected to hamper the growth of the glass battery market over the forecast period. Moreover, overheating and corrosion decreases battery life. This will be another restraining factor for the growth of glass battery market in near future.
Global Glass Battery Market: Segmentation
The global glass battery market can be segmented based on type and application.
On the basis of type, the glass battery market can be segmented into:
Sodium Based Glass Battery
Lithium Based Glass Battery
On the basis of application, the glass battery market can be segmented into:
Handheld Mobile Device
Energy Storage Device
Global Glass Battery Market: Regional Outlook
North America will be closely followed by Asia Pacific during the forecast period. Both of these markets are projected to witness immense growth in the glass battery market due to growing demand for glass batteries from electric car manufacturers. Western Europe, in particular, is expected to witness growth in the glass battery market due to increasing consumer preference towards batteries that last long as well as get charged fast. Latin America is expected to grow at a significant CAGR during the forecast period owing to the presence of many electric car manufacturers in the region. Middle East and Africa and Japan are expected to support the growth of the glass battery market over the forecast period.
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Global Glass Battery Market: Market Participants
Examples of some of the market participants identified across the value chain of the global glass battery market include: Johnson Controls, Tesla Inc., DNK Power Company Limited, and PolyPlus