Flow Batteries: Global Markets
Report Highlights
The global market for flow batteries should grow from $288.5 million in 2021 to $1.0 billion by 2026 with a compound annual growth rate (CAGR) of 28.6% for the period of 2021-2026.
Report Includes
- 43 data tables and 11 additional tables
- An overview of the global market for flow batteries
- Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021 and projection of CAGR through 2026
- Market share analysis of flow batteries by type, end use, application, and region, and evaluation of market size and forecast, and detailed analysis of drivers, challenges, and opportunities affecting market growth
- Description of flow batteries functioning that makes them the safest batteries with negligible risk of fire hazards, and discussion on how flow batteries are different from conventional batteries and high-temperature batteries
- Coverage of recent R&D activities and insights into regulations and norms concerning the flow batteries market
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of major players, including Redflow, ESS Inc., Vionx Energy, Unienergy Technologies, EnerVault Corp., Primus Power and Sumitomo Electric Industries Ltd.
Report Scope
The flow battery report covers all batteries that are currently available commercially. The market report also analyzes the end-use segments in which flow batteries find application at both the regional and country level.
The report provides market size and estimations in terms of revenue (U.S. currency), considering 2020 as the base year with a market forecast provided from 2021 to 2026. The market size for regional and country level also is covered. The report also analyzes the impact of the COVID-19 pandemic on the market estimations.
In terms of battery technology, the market for flow batteries is segmented into:
- Vanadium redox flow battery (VRFB).
- Zinc bromine (ZnBr) flow battery.
- Other batteries.
In terms of application, the market for flow batteries is segmented into-
- Load shifting.
- Peaking capacity.
- Microgrid formation.
- Others.
In terms of end-use, the market for flow batteries is segmented into-
- Utility.
- Commercial.
- Residential.
Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.