We use cookies for a better user experience. Read our Privacy Policy

I Agree

Flow Battery Market

Flow Battery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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.


Google translate

Copyright © Transparency Market Research, Inc. All Rights reserved