Global Flow Battery Market 2017-2021
- Published: Dec 2017
- Pages: 70
- SKU: IRTNTR15753
The 2021-2025 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!
This market research study identifies Primus Power, redT energy, UniEnergy Technologies, VanadiumCorp Resource, and Vionx Energy as the leading players in the global flow battery market. A comprehensive analysis of this market is also presented by values, forecasting, worth, trends, opportunities, segmentation by battery type (redox battery, hybrid battery, and others) and by geography (the Americas, APAC, and EMEA).
In the recent years, Li-ion batteries have become the extensively used batteries over other battery technologies and Lithium iron phosphate battery is the most commonly used Li-ion battery. However, lithium iron phosphate batteries exhibit low economic output post recycling. Additionally, the recycling of lithium iron phosphate batteries is also more expensive than the production of a new battery. Technavio’s market research analysis has identified the rising concerns over the recycling of Li-ion battery as one of the major factors that will have a positive impact on the growth of the on the global flow battery market. This is compelling consumers to adopt flow batteries over other battery technologies since they do not require recycling but only requires the electrolyte solution to be changed. For instance, vanadium flow batteries do not degrade over time and can last much longer than other batteries. Such benefits will drive the demand for flow batteries in the coming years and Technavio’s market research analysts predict that this market will grow at a CAGR of more than 9% by 2021.
Flow batteries such as vanadium redox batteries are gaining popularity over other energy storage technologies due to its ease of adaptability. The energy capacity of vanadium redox battery depends on the size of the external storage tank, while its power capacity depends on electrodes. They are used for various applications since the liquid electrolyte enables the battery to meet specific requirements. Flow batteries are extensively used in electric vehicle charging stations and the utility sector. According to our analysts, the widening scope for the application of vanadium redox flow battery will be one of the key trends that will gain traction in the flow battery market during the forecast period.
Competitive landscape and key vendors
The flow battery market is characterized by the presence of several vendors across the globe. The rise in investments and the introduction of new technologies will intensify the competitive environment among the flow battery companies. The players are focusing on sustaining their operations in this global market by focusing on advancing their distribution, sales, and working capital.
Key vendors in this market are -
- Primus Power
- redT energy
- UniEnergy Technologies
- VanadiumCorp Resource
- Vionx Energy
Other prominent vendors in the market include Australian Vanadium, Bushveld Energy, Cellennium (Thailand), Dalian Rongke Power, eChemion, Elestor, EnerVault, EnSync, GILDEMEISTER energy solutions, H2, ITN Energy Systems, JenaBatteries, JenaBatteries, Kemwatt, nanoFlowcell, Pu Neng Energy, Redflow, SCHMID Group, Shanghai Smart Energy, Sparton Resources, Sumitomo Electric Industries, thyssenkrupp, ViZn Energy Systems, volterion, VoltStorage, WattJoule, and YOUNICOS.
Segmentation by battery type and analysis of the flow battery market
- Redox battery
- Hybrid battery
The flow battery market is witnessing considerable growth in the redox battery market segment due to the scalability and feasibility of integration of redox flow batteries. The increasing application of vanadium redox batteries in various applications such as electric vehicle (EV) charging stations, peak shaving, load balancing, and uninterruptible power supply (UPS) will offer considerable growth opportunities to the flow battery companies in the redox battery market segment.
Segmentation by geography and analysis of the flow battery market
The intensive research and developmental activities in battery technology are driving the growth prospects of the flow battery market in the Americas. The adoption of flow batteries will increase in the region during the coming years due to the rising support from governments to store energy in electrical grids. These batteries are widely used in telecom towers. Countries such as the US and Canada are the major contributors to the growth of this market since they extensively focus on backup applications for small cell tower installations.
Key questions answered in the report include
- What will the market size and the growth rate be of the global flow battery market in 2021?
- What are the key factors driving the global flow battery market?
- What are the key market trends impacting the growth of the global flow battery market?
- What are the challenges to market growth of the global flow battery market?
- Who are the key vendors in the global flow battery market?
- What are the market opportunities and threats faced by the vendors in the global flow battery market?
- What are the trending factors influencing the market shares of the global flow battery market in Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global flow battery market?
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get your FREE sample now!
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Want to customize this report?
This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.
Technavio's SUBSCRIPTION platform
Register for a free trial today and gain instant access to 17,000+ market research reports.