The two main categories of the global flow battery market are redox and hybrid. Because they have a shorter payback period and superior capacity retention even after numerous cycles, redox flow batteries are the most popular type of batteries. The global flow battery market may be divided into segments based on applications, including energy storage, power, automotive, residential, and industrial. The power category now holds a bigger market share in the worldwide flow battery market due to rising electricity consumption and growing use of solar and wind power. The requirement for consistent power and the development of new utility networks will drive further growth in the power segment’s adoption.
The flow batteries’ scalable feature, which allows for increased capacity through the use of more electrolyte, makes them ideal for utility-scale grid operations. The flow batteries’ additional benefits of longer operational duration and longer life also serve as market drivers for the global flow battery market. Global flow battery installation has expanded as a result of the expanding use of solar and wind power.
The major barrier to entry for the worldwide flow battery industry is the high upfront costs associated with flow battery installation and manufacture. The primary market barrier for the worldwide flow battery market is also its lower power density as compared to lithium-ion batteries.
Research Methodology:
After secondary research provided a fundamental understanding of the worldwide Flow Battery Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering Flow Battery Market, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered.
The segmentation coverage of the study is provided below.
Flow Battery Market based on Type:
Flow Battery Market based on Application:
- Utility
- Automotive
- Residential
- Industrial
- Energy Storage
- Others
Flow Battery Market based on Geography:
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific (RoAPAC)
- Latin America (LATAM)
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa (MEA)
- UAE
- Turkey
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
The newest and non-pure type of flow battery is the hybrid variety. Hybrid flow batteries have become more popular recently for use in large-scale energy storage applications. Because of their ability to store large amounts of energy effectively and release it quickly, they are a good fit for grid-scale energy storage, renewable energy integration, and backup power systems. Hybrid flow batteries are unique from other energy storage technologies in that their architecture allows for easy maintenance and the possibility of longer operational lives.
For energy storage, zinc bromine flow batteries have a number of benefits. Their flowing electrolyte enables for uniform reactant delivery and simple heat management. They have strong specific energy and energy efficiency, allowing them to store and convert energy efficiently. These batteries are constructed from inexpensive, easily accessible materials, and their recyclable parts are fabricated by standard manufacturing techniques. They may function at room temperature and offer flexibility in system design. Because zinc-bromine flow batteries are currently on the market, they are a good choice for energy storage requirements.
Small-scale flow batteries are just as portable and compact as their name suggests. Hybrid flow batteries are relatively new, and the majority of them are constructed as tiny storage units. These batteries can be applied to residential, business, telecommunication, and EV charging stations. The development of compact/small-scale flow batteries for domestic use is a major business emphasis, which is anticipated to accelerate the growth of this market.
Research has been done on the flow battery market in Asia Pacific, including China, Japan, India, Australia, and the rest of the region. The increasing use of flow batteries in major economies like Australia and Japan is the reason behind the growing demand for these batteries in the region. In these nations, flow batteries are being used more and more in commercial, industrial, and utility applications. Moreover, the region’s market is expanding due to the extensive industrial expansion of emerging nations like China and India. Furthermore, the region’s growing investments to promote the use of renewable energy are creating more chances for the market to flourish over the course of the projection year.
Among the leading companies in the flow battery market are Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Invinity Energy Systems (UK), Largo Inc. (Canada), Enerox GmbH (Austria), Redflow Limited (Australia), Stryten Energy (US), ViZn Energy Systems (US), Lockheed Martin Corporation (US), Jenabatteries GmbH (Germany), SCHMID Group (Germany), Elestor BV (The Netherlands), Primus Power Solutions (US), and ESS Inc. (US).
- This report illustrates the most vital attributes of the Flow Battery Market, which are driving and providing opportunities.
- This research gives an in-depth analysis of the Flow Battery Market growth on the basis of several segments in the market.
- This report presents the predictions of the past and present trends of the Flow Battery Market.
- This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Flow Battery Market.
Methodology
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
- Forecasting
List of Tables
TABLE 1. FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 2. FLOW BATTERY MARKET VALUE FOR HYBRID, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 3. FLOW BATTERY MARKET VALUE FOR REDOX, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 4. FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 5. FLOW BATTERY MARKET VALUE FOR UTILITY, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 6. FLOW BATTERY MARKET VALUE FOR AUTOMOTIVE, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 7. FLOW BATTERY MARKET VALUE FOR RESIDENTIAL, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 8. FLOW BATTERY MARKET VALUE FOR INDUSTRIAL, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 9. FLOW BATTERY MARKET VALUE FOR ENERGY STORAGE, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 10. FLOW BATTERY MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 11. NORTH AMERICA FLOW BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 12. NORTH AMERICA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 13. NORTH AMERICA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 14. U.S FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 15. U.S FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 16. CANADA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 17. CANADA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 18. MEXICO FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 19. MEXICO FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 20. EUROPE FLOW BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 21. EUROPE FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 22. EUROPE FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 23. GERMANY FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 24. GERMANY FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 25. U.K FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 26. U.K FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 27. FRANCE FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 28. FRANCE FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 29. ITALY FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 30. ITALY FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 31. SPAIN FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 32. SPAIN FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 33. ROE FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 34. ROE FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 35. ASIA PACIFIC FLOW BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 36. ASIA PACIFIC FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 37. ASIA PACIFIC FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 38. CHINA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 39. CHINA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 40. INDIA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 41. INDIA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 42. JAPAN FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 43. JAPAN FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 44. REST OF APAC FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 45. REST OF APAC FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 46. LATIN AMERICA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 47. LATIN AMERICA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 48. BRAZIL FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 49. BRAZIL FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 50. ARGENTINA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 51. ARGENTINA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 52. MIDDLE EAST AND AFRICA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 53. MIDDLE EAST AND AFRICA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 54. SAUDI ARABIA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 55. SAUDI ARABIA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 56. UAE FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 57. UAE FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 58. REST OF MIDDLE EAST AND AFRICA FLOW BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 59. REST OF MIDDLE EAST AND AFRICA FLOW BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 60. LOCKHEED MARTIN CORPORATION. (U.S.): FINANCIALS
TABLE 61. LOCKHEED MARTIN CORPORATION. (U.S.): PRODUCTS & SERVICES
TABLE 62. LOCKHEED MARTIN CORPORATION. (U.S.): RECENT DEVELOPMENTS
TABLE 63. VIZN ENERGY SYSTEMS (U.S.): FINANCIALS
TABLE 64. VIZN ENERGY SYSTEMS (U.S.): PRODUCTS & SERVICES
TABLE 65. VIZN ENERGY SYSTEMS (U.S.): RECENT DEVELOPMENTS
TABLE 66. UNIENERGY TECHNOLOGIES. (U.S.): FINANCIALS
TABLE 67. UNIENERGY TECHNOLOGIES. (U.S.): PRODUCTS & SERVICES
TABLE 68. UNIENERGY TECHNOLOGIES. (U.S.): RECENT DEVELOPMENTS
TABLE 69. SUMITOMO ELECTRIC INDUSTRIES, LTD. (JAPAN): FINANCIALS
TABLE 70. SUMITOMO ELECTRIC INDUSTRIES, LTD. (JAPAN): PRODUCTS & SERVICES
TABLE 71. SUMITOMO ELECTRIC INDUSTRIES, LTD. (JAPAN): RECENT DEVELOPMENTS
TABLE 72. INVINITY ENERGY SYSTEMS. (U.S.): FINANCIALS
TABLE 73. INVINITY ENERGY SYSTEMS. (U.S.): PRODUCTS & SERVICES
TABLE 74. INVINITY ENERGY SYSTEMS. (U.S.): RECENT DEVELOPMENTS
TABLE 75. STEAG SOLAR ENERGY SOLUTIONS. (GERMANY): FINANCIALS
TABLE 76. STEAG SOLAR ENERGY SOLUTIONS. (GERMANY): PRODUCTS & SERVICES
TABLE 77. STEAG SOLAR ENERGY SOLUTIONS. (GERMANY): RECENT DEVELOPMENTS
TABLE 78. ESS, INC (U.S.): FINANCIALS
TABLE 79. ESS, INC (U.S.): PRODUCTS & SERVICES
TABLE 80. ESS, INC (U.S.): RECENT DEVELOPMENTS
TABLE 81. PRIMUS POWER (U.S.): FINANCIALS
TABLE 82. PRIMUS POWER (U.S.): PRODUCTS & SERVICES
TABLE 83. PRIMUS POWER (U.S.): RECENT DEVELOPMENTS
TABLE 84. NANOFLOWCELL MANAGEMENT AG. (SWITZERLAND): FINANCIALS
TABLE 85. NANOFLOWCELL MANAGEMENT AG. (SWITZERLAND): PRODUCTS & SERVICES
TABLE 86. NANOFLOWCELL MANAGEMENT AG. (SWITZERLAND): RECENT DEVELOPMENTS
TABLE 87. PRIMUS POWER (U.S.): FINANCIALS
TABLE 88. PRIMUS POWER (U.S.): PRODUCTS & SERVICES
TABLE 89. PRIMUS POWER (U.S.): RECENT DEVELOPMENTS
