Flow Battery Market

A flow battery is an electrochemical storage system that uses differences in oxidation states of metals to store energy. Unlike lithium-ion batteries that use solid electrodes, flow battery cells feature liquid electrolytes that store energy in tanks external to the battery cell. As the battery is used, the electrolyte flows through the electrodes and a membrane to create direct current (DC) electricity that runs through an inverter for conversion to alternating current power. The battery can be recharged simply by pumping the used electrolyte back to the tank. Flow batteries are available in a variety of chemistries, with vanadium redox flow batteries leading the way due to their proven performance and low risk to human health exposure.

Market Dynamics:

The increasing focus on reducing carbon emissions by using environment-friendly technologies for generating electricity is anticipated to propel growth of the global flow battery market over the forecast period. This is mainly because the use of fossil fuels results in high levels of CO2 emission which has several harmful effects on the environment.

However, high capital investment and strong competition against conventional battery providers is likely to hinder growth of the global flow battery market during the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global flow battery market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global flow battery market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include VRB Energy, H2 Inc., ESS Tech Inc., Stryten Energy, Vanadis Power GmbH, CellCube Energy Storage Systems Inc., Primus Power Corporation, Dalian Rongke Power Co. Ltd., RedFlow Ltd., and Invinity Energy Systems PLC
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global flow battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global flow battery market

Detailed Segmentation:

• Global Flow Battery Market, By Type:
  • Vanadium Redox Flow Battery
  • Zinc Bromine Flow Battery
  • Iron Flow Battery
  • Zinc Iron Flow Battery
• Global Flow Battery Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • VRB Energy
  • ESS Tech Inc.
  • Vanadis Power GmbH
  • Primus Power Corporation
  • RedFlow Ltd.
  • Invinity Energy Systems PLC
  • Dalian Rongke Power Co. Ltd
  • CellCube Energy Storage Systems Inc.
  • Stryten Energy
  • H2 Inc.