Global Flow Battery Market– Industry Trends and Forecast to 2025

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Global Flow Battery Market– Industry Trends and Forecast to 2025

Market Analysis: Global Flow Battery Market

The Global Flow Battery Market is expected to reach USD 1038.3 Million by 2025, from USD 190.87 Million in 2017 growing at a CAGR of 35.7 % during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Market Definition: Global Flow Battery Market

Flow battery is defined as a type of electrochemical cell or rechargeable battery. It is an electrical storage device connected between a fuel cell and a conventional battery. It delivers two chemical components which is easily dissolved in liquids and have two  electrolyte solutions in two separate tanks connected  through two independent loops.The flow battery is characterised by power/energy density, efficiency and many more. The benefits of flow battery includes quick response times, long cycle life, flexible layout, no standby loss, charging characteristics redox flow is easy and cheap. It has widely applicable  in commercial & industrial, military, utilities and EV charging station. For instances, in 2015, according to American Association for the Advancement of Science , new type of ‘flow battery’ can store 10 times of the energy of the next best device by the use of lithium ion technology. Furthermore in 2018, Lockheed Martin Corp launched flow battery” an inexpensive, nontoxic materials. It helps to save money and use more renewable energy. It uses chemicals which are dissolved in water for last longing than lithium ion batteries.

In 2018, Voltstorage launched a vanadium-redox-flow (VRF) energy storage system for households called Voltstorage SMART.It can store 6.8kWh of electricity and has a maximum output of 2.0kW and connected in series to create larger capacities.

Major Market Drivers:

Inherent advantages of flow battery
Growing investment in renewable energy
High demand from utilities sector
Growth in telecommunications tower installations
High construction cost of flow batteries.

Market Segmentation: Global Flow Battery Market

The global flow battery market is segmented into type, material, storage, application and by geography.
Based on type, the market is segmented into redox and hybrid.
Based on material, the market is segmented into Vanadium, Zinc–Bromine and others.
Based on storage the market is segmented into compact and large scale.
On the basis of application, the market is classified into utilities, commercial & industrial, military and EV charging station and others.
Based on geography , the market report covers data points for 28 countries across multiple geographies namely north America & south America, Europe, Asia-pacific and, middle east & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, turkey, Russia, china, India, south Korea, japan, Australia, Singapore, Saudi Arabia, south Africa and, brazil among others.

Competitive Analysis: Global Flow Battery Market

The global flow battery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Flow battery market for global, Europe, North America, Asia pacific and South America.

Major Market Competitors/Players: Global Flow Battery Market

Some of the major players operating in the global flow battery market are Lockheed, ViZn Energy Systems, UniEnergy Technologies., Sumitomo Electric Industries Ltd, redT energy plc, GILDEMEISTER energy solutions., ESS Inc, Primus Power, Lockheed Martin, Redflow Limited, Elestor., JenaBatteries GmbH, Volterion, VoltStorage GmbH, H2 Inc., nanoFlowcell AG, Pu Neng Century Technology Co., Ltd.,  Kemwatt and among others.

Research Methodology: Global Flow Battery Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.

Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others

Global Flow Battery Market– Industry Trends and Forecast to 2025