Market Highlights
Flow batteries are rechargeable batteries that use two liquid electrolytes, separated by an ion-selective membrane, which during charging and discharging allow selected ions to pass and complete the chemical reaction.
These electrolytes are easy to replace, which makes flow batteries more convenient that the lead-acid, lithium-ion, or solid-state batteries. The growing demand for flow batteries can be attributed to the number of renewable sources of energy and the high consumption of electrical energy in North America. For instance, utility companies are shifting toward the use of flow batteries in storage devices. The growth of renewable energy (solar, wind, tidal) increases the number of flow battery applications.
Flow Battery Market is expected to grow in the Asia-Pacific countries dramatically, due to the increasing application of storage devices in renewable energy. Many countries are revising their policies and regulations to integrate flow batteries with renewable energy, due to higher reliability and efficiency in operation. R&D in energy storage methods such as flow batteries is focused on solving issues related to the mismatch between demand & supply gap and the intermittent nature associated with renewable energy sources. A flow battery involves the safety of storing the active materials separated from the reactive point source, fast response time, high electricity-to-electricity conversion capability, low maintenance, tolerance to overcharge and over discharge. Such advantages over conventional batteries drive the market growth.
The Global Flow Battery Market is expected to grow at 30.68% CAGR during the forecast period.
Flow Battery Market- Key Players
The key players of the Global Flow Battery Market are
- ESS Inc. (US)
- Gildemeister energy solutions (Austria)
- Redflow Limited. (Australia)
- Primus Power (US)
- redT energy plc. (UK)
- Sumitomo Electric Industries, Ltd. (Japan)
- ViZn Energy Systems. (US)
- EnSync Energy Systems (US)
- Schmid (Germany)
- Elestor (Europe)
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Flow Battery Market- Scope of the Report:
The scope of the study segments the Flow Battery Market by Product Type, Material Type, Storage Type, Application, by industry and by region.
Product Type
- Redox
- Hybrid
Storage Type
- Compact
- Large-scale
Application
- Industrial
- Commercial
- Defense
- Utilities
Material Type
- Vanadium
- Zinc-Bromine
Flow Battery Market- Table of Contents :
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Supply Chain Analysis
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4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
To be Continue……………….,
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