Hybrid Flow Battery Market: Overview

Hybrid flow battery is a type of flow battery system that was conceptualized in the early twentieth century and put into practical application by Exxon and Gould in the early 1970s. It has one active materials inside a cell and the second material is a liquid that flows from external tanks into the reaction cell. In a hybrid flow battery, at least one redox couple species is not fully soluble and it can be either a gas or a metal.

The zinc bromine flow battery (ZBFB) is the most well-known type of hybrid flow battery. Typically, the battery consists of a cell with two compartments separated by a microporous membrane. The battery has an electrode at each side of the cell, i.e. one on the zinc side and one on the bromine side. Electrodes are made from carbon-plastic composites to prevent corrosion. External tanks are used to pump aqueous electrolyte toward cell stacks during charging and discharging.

Hybrid Flow Battery Market: Drivers & Restraints

Hybrid flow batteries have several advantages; therefore, these are extensively used. A major advantage of these batteries is their higher cell voltage as compared to that of vanadium redox flow batteries. Hybrid flow batteries offer around 1.8 volts, while vanadium redox flow batteries provide 1.4 volts. They also have high energy density and deep discharging capabilities. Another important advantage is that zinc can be used with several low-cost reactants such as iron and cerium. However, lack of fully independently scalable energy and power ratings, possibility of material corrosion, zinc dendrite formation, and shunt currents are likely to inhibit the hybrid flow battery market. Additionally, the cycle lifetime is also lower than that of vanadium redox flow battery. This, in turn, is likely to hamper the hybrid flow battery market.

The production cost of hybrid flow battery can be higher than other flow batteries, thereby further affecting its demand. The high production cost is due to several reasons. For example, the battery requires auxiliary systems for circulation and temperature control. Appropriate materials need to be used in electrodes and fluid handling equipment and membrane to endure the high oxidative nature of bromine. In large hybrid flow battery systems, the battery weight increases and specific energy reduces due to the increase in size of cooling mechanism, impact and leak detectors and controls, and enhanced electrolyte loss containment solutions.

Hybrid Flow Battery Market: Key Segments

The global hybrid flow battery market can be segmented by type, application, end-user, and region. In terms of type, the hybrid flow battery market can be bifurcated into zinc bromine flow batteries and other hybrid flow batteries. The others category consists of a combination of various materials such as zinc and iron or zinc and cerium.

In terms of application, the hybrid flow battery market can be divided into transportation and grid storage. Grid storage includes the use of hybrid flow batteries for on-grid connected systems and off-grid connected systems, while transportation primarily includes the charging of electric cars.

In terms of end-user industry, the hybrid flow battery market can be segregated into residential, non-residential, utilities, and transportation. The hybrid flow battery’s off-grid solutions are extensively used in residential and non-residential buildings, while on-grid solutions are employed in utilities.

Hybrid Flow Battery Market: Regional Outlook

In terms of region, the global hybrid flow battery market can be categorized into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Hybrid flow batteries have been adopted at a faster rate in North America, Europe, and Asia Pacific, while their adoption has been slow in Latin America and the Middle East & Africa.

Hybrid Flow Battery Market: Key Players

Major players operating in the global hybrid flow battery market include Redflow Limited, Primus Power, Gelion Technologies, and ZBB Energy Corporation. 

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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Hybrid Flow Battery Market

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