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Global Flow Battery Market 2017-2021

  • Published: Dec 2017
  • Pages: 70
  • SKU: IRTNTR15753
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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

  • Americas
  • APAC
  • EMEA

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?

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION

  • Market outline

PART 05: MARKET LANDSCAPE

  • Market ecosystem
  • Market segmentation analysis

PART 06: MARKET SIZING

  • Market definition
  • Market sizing 2016
  • Market size and forecast 2016-2021

PART 07: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 08: MARKET SEGMENTATION BY BATTERY TYPE

  • Segmentation by battery type
  • Comparison by battery type
  • Redox battery – Market size and forecast 2016-2021
  • Hybrid battery – Market size and forecast 2016-2021
  • Market opportunity by battery type

PART 09: REGIONAL LANDSCAPE

  • Geographical segmentation
  • Regional comparison
  • Americas – Market size and forecast 2016-2021
  • EMEA – Market size and forecast 2016-2021
  • APAC – Market size and forecast 2016-2021
  • Key leading countries
  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 12: MARKET TRENDS

  • Increasing shift toward renewable energy
  • Widening scope of vanadium redox battery use
  • Growing need for electrification

PART 13: VENDOR LANDSCAPE

  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendor overview
  • Primus Power
  • redT energy
  • UniEnergy Technologies
  • VanadiumCorp Resource
  • Vionx Energy

PART 15: APPENDIX

  • List of abbreviations

Research Framework

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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