New York, NY, Aug. 18, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Flow Battery Market By Type (Redox Flow Battery, Hybrid Flow Battery), By Material (All-Vanadium, All-Iron, Zinc–Bromine, Hydrogen–Bromine, Polysulfide Bromide, Organic, and Others), By Storage (Compact, Large scale), By Application (Utilities, Commercial & Industrial, Military, EV Charging Station, Off-Grid & Micro grid Power and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the recent research report, the demand of global Flow Battery Market size & share expected to reach to USD 423.26 Million by 2026 from USD 174.62 Million in 2020, at a compound annual growth rate (CAGR) of 15.9% during the forecast period 2021 to 2026”
Global Flow Battery Market: Overview
The demand for renewable energies continues to increase and the solutions which manage the rising flow of energy also increase. Vanadium as the principal element has a 20-year life cycle or a 20,000 cycle life cycle. There is no loss of ability, too. Thus, throughout the projected time, energy storage projects running flow batteries would enhance the market. Flow batteries have been gaining momentum in the recent past and have been acquired by practical enterprises, which are positioning and designing enormous systems for future years. Flow batteries are extendable as their capacity can be improved by using more electrolytes in the tanks, which are ideally suited for grid applications of utility size. Compared to traditional systems, flow batteries give a longer operating time with a longer life with minimal overall costs. Because flow batteries are cheaper than other storage options, the deployment pace for new wind turbines and solar plants will also rise to ensure reliable grid operation.
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Industry Major Market Players
- ViZn Energy Systems
- Lockheed Martin Co.
- Sumitomo Electric Industries Ltd.
- UniEnergy Technologies
- STEAG Solar Energy Solutions
- Invinity Energy Systems
- ESS Inc.
- Primus Power
- Redflow Limited
- JenaBatteries GmbH
- VoltStorage GmbH
- Volterion Dortmund
- H2 Inc.
- Beijing Pu Neng Century Technology Co. Ltd.
- CellCube Energy Storage Systems Inc.
- Largo Clean Energy
- EnSync Energy Systems
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Key questions answered in this report:
- What is the projected market size & growth rate of the Flow Battery Market?
- What are the key driving factors for the growth of the Flow Battery Market?
- What are the top companies operative in the Flow Battery Market?
- What segments are covered in the Flow Battery Market?
- How can I get free sample report/company profiles of the Flow Battery Market?
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Utilities application to dominate the flow battery market in 2020
The procurement of flow batteries in utilities due to the increased demand for electricity is increasing. In addition to this, the growing usage of renewables across networks has increased the demand for energy storage solutions that are efficient, flexible, and long-term. The most favorite energy storage technology for utility storage has become a flowing battery with all its attractive and unique features, as large-scale utilities demand techniques that are able to store renewable energy efficiently for future grid use at any point, for applicable industries.
Hybrid flow battery to hold the largest share of flow battery market by 2026
The use of hybrid batteries increases significantly due to their advantages, such as high energy density, small dimensions, and low cost. The most famous kinds of hybrid flow batteries include zinc-bromine, zinc cerium, and plumic acid. In recent years in various countries, several research initiatives have been undertaken to study the possibilities of hybrid flow batteries and create more compact and cheaper solutions.
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Global Flow Battery Market: Report Scope
|Market Size 2020 Value||USD 174.62 Million|
|Market Forecast for 2026||USD 423.26 Million|
|Expected CAGR Growth||CAGR 15.9% from 2021-2026|
|Top Market Players||ViZn Energy Systems, Lockheed Martin Co., Sumitomo Electric Industries Ltd., UniEnergy Technologies, STEAG Solar Energy Solutions, Invinity Energy Systems, and Others|
|Segments Covered||Type, Material, Storage, Application, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Pricing Options||Request customized purchase options to meet your research needs. Explore purchase options|
Global Flow Battery Market: Segmentation
Based on Type, the market is bifurcated into redox flow battery and hybrid flow battery. Based on material, the market is bifurcated into all-vanadium, polysulfide bromide, zinc–bromine, all-iron, hydrogen–bromine, organic, and others. Based on Storage, the market is bifurcated into compact and large scale. Based on Application, the market is bifurcated into utilities, military, EV charging station, commercial &industrial, off-grid µ grid power, and others.
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Global Flow Battery Market: Regional Analysis
In Asia-Pacific, the flow batteries market is projected to prevail since there are numerous operational flow batteries with high power ratings in the area. Countries such as China, India, Japan, and Australia want to increase their large-scale battery-based energy storage capacities which might improve electric stability in turn. China possessed the greatest installed flow battery capacity compared with other Asia-Pacific countries by 2020. The usage of flow batteries is projected to rise considerably over the forecast period as demand for electric cars is rising in the Asia-Pacific region.
Browse the full report “Flow Battery Market By Type (Redox Flow Battery, Hybrid Flow Battery), By Material (All-Vanadium, All-Iron, Zinc–Bromine, Hydrogen–Bromine, Polysulfide Bromide, Organic, and Others), By Storage (Compact, Large scale), By Application (Utilities, Commercial & Industrial, Military, EV Charging Station, Off-Grid & Microgrid Power, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/flow-battery-market
- Redox Flow Battery
- Hybrid Flow Battery
- Polysulfide Bromide
- Large scale
- Commercial & Industrial
- EV Charging Station
- Off-Grid & Micro grid Power
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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