Market Overview:
The global flow battery market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy storage solutions, rising concerns over climate change, and growing investments in renewable energy sources. The global flow battery market can be segmented on the basis of type into redox and hybrid batteries. Redox batteries are further sub-segmented into lead acid, zinc bromine, sodium sulfur, iron chromium and vanadium redox flow batteries. Hybrid batteries are further sub-segmented into lithium ion polymer and nickel metal hydride (NiMH) batteries. On the basis of application, the global flow battery market can be divided into utilities, commercial & industrial sector, military sector EV charging station sector and others including telecommunications backup power systems etc.).
Product Definition:
A flow battery is a type of rechargeable battery in which the electrochemical reaction takes place between two liquid electrolytes, separated by a porous membrane. Flow batteries are distinguished from other types of batteries by the fact that they can be repeatedly recharged simply by replacing the electrolyte fluid on either side of the cell. This feature makes them well-suited for large-scale stationary energy storage applications, such as grid stabilization and backup power.
Redox:
Redox is short for reduction-oxidation. It is a chemical reaction in which one or more of the oxidation and reduction agents are present in equal amount. The most common example of redox reactions are rusting and corrosion, where iron (III) oxide is reduced to iron (I) oxide through water.
Hybrid:
Hybrid flow battery is a combination of two types of flow batteries, the electrolyte being a liquid that can separate into an oxygen-free and hydrogen-filled cell. The electrolyte in hybrid batteries is made from three different substances namely, sulfuric acid, molten salt mixture and water. These batteries are more efficient as they use the reaction between lithium metal and oxygen to produce electricity which results in less consumption of energy as compared to conventional ones.
Application Insights:
The utilities application segment accounted for the largest revenue share of over 50% in 2017. Flow batteries are used as back-up power sources in utility applications, wherein they are deployed at grid stations or along transmission & distribution lines. The commercial and industrial sector is anticipated to be one of the fastest-growing sectors owing to increasing demand from renewable energy generation such as wind and solar power. Deployment of flow batteries can provide sustainable solutions for peak shaving by providing short duration, high voltage direct current (HVDC) services that support large scale integration of wind energy projects across the globe.
Flow battery systems have a wide range of potential uses in military applications including remote sensing, communications, intelligence gathering and target acquisition/ designation devices with low maintenance requirements due to self-healing capabilities inherent in these systems.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing government initiatives and favorable regulations for promoting renewable energy sources in countries such as China, India, South Korea, and Japan. For instance, in 2015 China’s State Council announced a target of deploying ten million electric vehicles by 2020. This initiative is expected to increase EV charging stations across the country which will further drive regional demand during the forecast period.
Europe accounted for more than 20% of global flow battery market share in 2016 owing to early technology adoption by several key players operating within this region coupled with high R&D investments made by them over past few years.
Growth Factors:
- Increasing demand for energy storage systems owing to the growing need for uninterrupted power supply
- Rising concerns over climate change and air pollution, which is driving the adoption of clean energy technologies such as flow batteries
- Growing investment in renewable energy projects, which is creating a positive outlook for the flow battery market
- Proliferation of smart grids and microgrids, providing a major growth opportunity for flow batteries
- Technological advancements that are resulting in higher efficiency and longer life cycle of flow batteries
Scope Of The Report
Report Attributes
Report Details
Report Title
Flow Battery Market Research Report
By Type
Redox, Hybrid
By Application
Utilities, Commercial & Industrial, Military, EV Charging Station, Others
By Companies
ESS, GILDEMEISTER, Primus Power, RedFlow, redT, SCHMID, Sumitomo, UniEnergy, ViZn Energy, EnSync Energy
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Flow Battery Market Report Segments:
The global Flow Battery market is segmented on the basis of:
Types
Redox, Hybrid
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Utilities, Commercial & Industrial, Military, EV Charging Station, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ESS
- GILDEMEISTER
- Primus Power
- RedFlow
- redT
- SCHMID
- Sumitomo
- UniEnergy
- ViZn Energy
- EnSync Energy
Highlights of The Flow Battery Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Redox
- Hybrid
- By Application:
- Utilities
- Commercial & Industrial
- Military
- EV Charging Station
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Flow Battery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A flow battery is a type of energy storage device that uses the chemical reaction of an electrolyte and an electrode to store electrical energy. The electrolyte is a liquid that allows electrons to flow between the electrodes, and the battery can be discharged or charged by passing an electric current through it.
Some of the major players in the flow battery market are ESS, GILDEMEISTER, Primus Power, RedFlow, redT, SCHMID, Sumitomo, UniEnergy, ViZn Energy, EnSync Energy.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Flow Battery Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Flow Battery Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Flow Battery Market - Supply Chain
4.5. Global Flow Battery Market Forecast
4.5.1. Flow Battery Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Flow Battery Market Size (000 Units) and Y-o-Y Growth
4.5.3. Flow Battery Market Absolute $ Opportunity
5. Global Flow Battery Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Flow Battery Market Size and Volume Forecast by Type
5.3.1. Redox
5.3.2. Hybrid
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Flow Battery Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Flow Battery Market Size and Volume Forecast by Application
6.3.1. Utilities
6.3.2. Commercial & Industrial
6.3.3. Military
6.3.4. EV Charging Station
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Flow Battery Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Flow Battery Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Flow Battery Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Flow Battery Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Flow Battery Demand Share Forecast, 2019-2026
9. North America Flow Battery Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Flow Battery Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Flow Battery Market Size and Volume Forecast by Application
9.4.1. Utilities
9.4.2. Commercial & Industrial
9.4.3. Military
9.4.4. EV Charging Station
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Flow Battery Market Size and Volume Forecast by Type
9.7.1. Redox
9.7.2. Hybrid
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Flow Battery Demand Share Forecast, 2019-2026
10. Latin America Flow Battery Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Flow Battery Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Flow Battery Market Size and Volume Forecast by Application
10.4.1. Utilities
10.4.2. Commercial & Industrial
10.4.3. Military
10.4.4. EV Charging Station
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Flow Battery Market Size and Volume Forecast by Type
10.7.1. Redox
10.7.2. Hybrid
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Flow Battery Demand Share Forecast, 2019-2026
11. Europe Flow Battery Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Flow Battery Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Flow Battery Market Size and Volume Forecast by Application
11.4.1. Utilities
11.4.2. Commercial & Industrial
11.4.3. Military
11.4.4. EV Charging Station
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Flow Battery Market Size and Volume Forecast by Type
11.7.1. Redox
11.7.2. Hybrid
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. MarketAttractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Flow Battery Demand Share, 2019-2026
12. Asia Pacific Flow Battery Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Flow Battery Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Flow Battery Market Size and Volume Forecast by Application
12.4.1. Utilities
12.4.2. Commercial & Industrial
12.4.3. Military
12.4.4. EV Charging Station
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Flow Battery Market Size and Volume Forecast by Type
12.7.1. Redox
12.7.2. Hybrid
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Flow Battery Demand Share, 2019-2026
13. Middle East & Africa Flow Battery Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Flow Battery Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Flow Battery Market Size and Volume Forecast by Application
13.4.1. Utilities
13.4.2. Commercial & Industrial
13.4.3. Military
13.4.4. EV Charging Station
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Flow Battery Market Size and Volume Forecast by Type
13.7.1. Redox
13.7.2. Hybrid
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Flow Battery Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Flow Battery Market: Market Share Analysis
14.2. Flow Battery Distributors and Customers
14.3. Flow Battery Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ESS
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. GILDEMEISTER
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Primus Power
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. RedFlow
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. redT
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SCHMID
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Sumitomo
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. UniEnergy
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ViZn Energy
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. EnSync Energy
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
