For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
A flow battery, or redox flow battery (after reduction-oxidation), is a type of rechargeable battery where recharge ability is provided by two chemical components dissolved in liquids contained within the system and separated by a membrane. Ion exchange (providing flow of electric current) occurs through the membrane while both liquids circulate in their own respective space. Cell voltage is chemically determined by the Nernst equation and ranges, in practical applications, from 1.0 to 2.2 volts. The performance of these devices is governed by the considerations of electrochemical engineering.
LPI (LP Information)' newest research report, the "Flow Battery Industry Forecast" looks at past sales and reviews total world Flow Battery sales in 2022, providing a comprehensive analysis by region and market sector of projected Flow Battery sales for 2023 through 2029. With Flow Battery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Flow Battery industry.
This Insight Report provides a comprehensive analysis of the global Flow Battery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Flow Battery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Flow Battery market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Flow Battery and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Flow Battery.
The global Flow Battery market size is projected to grow from US$ 185.9 million in 2022 to US$ 338.1 million in 2029; it is expected to grow at a CAGR of 338.1 from 2023 to 2029.
Global flow battery main players include Dalian Rongke Power, Primus Power, Sumitomo Electric, VRB ENERGY, Largo Clean Energy, etc., totally accounting for about 95%. Asia-Pacific is the largest market, with a share over 78%. As for the types of products, it can be divided into vanadium flow battery and hybrid flow battery. Vanadium flow battery is the largest segment, holding a share aboutr 90%. In terms of application, it is widely used in utility facilities, renewable energy integration and others. The most common application is in utility facilities, taking a share over 80%.
This report presents a comprehensive overview, market shares, and growth opportunities of Flow Battery market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
- Vanadium Flow Battery
- Hybrid Flow Battery
Segmentation by application
- Utility Facilities
- Renewable Energy Integration
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Dalian Rongke Power
- Primus Power
- Sumitomo Electric
- VRB ENERGY
- Largo Clean Energy
Key Questions Addressed in this Report
What is the 10-year outlook for the global Flow Battery market?
What factors are driving Flow Battery market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Flow Battery market opportunities vary by end market size?
How does Flow Battery break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?