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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 study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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