A flow battery is an electrical storage device that is a cross between a fuel cell and a conventional battery. Most of the commercial flow batteries use vanadium salt with acid sulfur as electrolyte and these types of electrodes are made of graphite bipolar plates. Instant recharge capability, longer lifecycle, and longer discharge hours among other major factors is propelling the growth of the flow battery market. The need for large scale energy storage has become an import to integrate renewable energy sources into the electricity grid. These types of batteries are best suited for renewable energy and micro grid applications. Most developing and underdeveloped countries are continuously focusing on investment in alternative power energy sources. Rising investment and growing focus on renewable energy is one of major factors expected to trigger the demand for flow batteries during the forecast period. Moreover, the market for flow batteries is anticipated to witness stable growth during the forecast period; this is mainly due to the increasing use of flow batteries in various electric vehicle applications.

The global flow battery market has been segmented based on product type, storage capability, materials, end use industry, and geography. Based on product type, the market has been segmented into hybrid flow battery, membrane less flow battery, and redox flow battery. In 2016, the redox flow battery type held the major share in the product type segment of the flow battery market. In addition, redox flow battery type is likely to expand at a high CAGR during the forecast period. On the basis of storage capability, the global flow battery market has been segregated into two types: compact and large scale. Based on materials, the global flow battery market has been bifurcated into zinc-bromine and vanadium. The zinc–bromine material segment is expected to register a significant CAGR during the forecast period. In terms of end use industry, the flow battery market is fragmented into various types which include telecommunication, automobile, military & defense, and industrial among others. In 2016, telecommunication and automobile industry garnered major share in the end use industry segment of the global flow battery market. This is attributed to the rising telecommunication tower installations and growing adoption of hybrid vehicles which use flow battery as alternative power energy back up. Moreover, high demand from utility sectors and inherent advantages of flow battery in industrial applications is boosting the growth of the global flow battery market. Increasing investment in military & defense applications, and government support in the form of funding and investment in R&D is anticipated to drive the flow battery market. However, lack of proper standards for development of flow batteries is hindering the growth of the global market.

Geographically, the flow battery market is segregated into North America, Asia Pacific (APAC), Europe, South America, and Middle East & Africa (MEA). In terms of revenue, North America held the largest market share in the global flow battery market in 2016. Asia Pacific is the most attractive and fastest growing market for flow batteries as vendors are constantly expanding their business across various parts of the region. This is mainly due to the rising number of flow battery uses for data centers, commercial and electric vehicle applications across different parts of Asia Pacific.

This report explores the major international industry players in detail. Major companies in the global flow battery market are EnerVault (the U.S.), Vanadis Power GmbH (Germany), Vionx Energy Corporation (the U.S), I-Pulse Inc. (the U.S), Redflow Energy Storage Solutions (Australia), UniEnergy Technologies, LLC. (the U.S), SCHMID (Germany), Sumitomo Electric Industries, Ltd (Japan), ESS, Inc. (the U.S), and ViZn Energy, Inc. (the U.S) among others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Flow Battery Market