New York, Aug. 15, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Flow Battery Market by Battery Type, Material, Storage, Application and Region – Global Forecast to 2028” – https://www.reportlinker.com/p05297922/?utm_source=GNWHybrid flow batteries have an additional advantage over standard flow battery designs.The zinc bromine hybrid battery offers higher energy density than other flow batteries.With the growing need for higher energy capacity, the need for grid modernization has become essential worldwide.Improved security, reduced peak loads, increased integration of renewables, and lower operational costs are advantages of a modern grid system.Asia Pacific is expected to grow at the highest rate during the forecast period.Countries such as China, Japan, India, and Australia are striving to boost their large-scale energy storage capacity through adoption of advanced battery technologies that could, in turn, enhance electric stability.• By Company Type: Tier 1 – 25%, Tier 2 – 30%, and Tier 3 – 45%
• By Designation: C-level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North America – 35%, Europe – 25%, Asia Pacific – 32%, and RoW – 8%
Major players profiled in this report are as follows: 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), ESS Inc. (US) and others.The flow battery market has been classified by battery type, material, ownership, storage, application, and region.The market has been segmented into redox flow batteries and hybrid flow batteries, by type.Analysis of key drivers (Benefits of flow batteries over conventional technologies, Increasing investments in renewable energy, High demand for flow batteries in utilities, Surge in telecommunications tower installations), restraints (Requirement of high initial investment, Lack of proper standards for development of flow battery systems), opportunities (Growing demand for backup power in data centers, Growing adoption in residential applications, Increasing R&D practices to improve redox battery technology), and challenges (Presence of affordable alternative energy storage technologies) influencing the growth of the flow battery market
Product Development/Innovation: Detailed insights on upcoming products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the flow battery market
Market Development: Comprehensive information about lucrative markets – the report analyses the flow battery market across regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the flow battery market
Competitive Assessment: In-depth assessment of market ranks, growth strategies, and product offerings of leading players like Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Invinity Energy Systems (UK), Largo Inc. (Canada), Enerox GmbH (Austria), Redflow Limited (Australia), among others in the flow battery market
Strategies: The report also helps stakeholders understand the pulse of the flow battery market and provides information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05297922/?utm_source=GNWReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
(GlobeNewsWire)