Flow Battery Market by Key Players, Top Countries, Types, Applications, Growth and Global Forecast to 2023

The flow battery market was valued at USD 187.7 Million in 2017 and is expected to reach of USD 946.3 million by 2023 at a CAGR of 32.7% during the forecast period. The base year used for this study is 2017 and the forecast period considered is between 2018 and 2023.

The flow battery ecosystem comprises vendors such as ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) selling these products and solutions to end users according to their unique requirements in the utilities, industrial, commercial, military, and telecommunications verticals.

North America held the largest size of the flow battery market in 2017, followed by APAC and Europe. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the flow battery market. In addition, favorable economic conditions in the US and the increase in the importance of battery energy storage, as well as supportive regulatory policies aiding energy storage in the US and other countries in the region are encouraging many domestic and international manufacturers to deploy flow battery for efficient energy supply. Flow battery market in APAC is expected to grow at the highest rate during the forecast period.

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Report Scope:

In this report, the flow battery market has been segmented into the following categories:

Flow Battery Market, by Type

• Redox
• Hybrid

Flow Battery Market, by Material

• Vanadium 
• Zinc–Bromine
• Others

Flow Battery Market, by Storage

• Compact
•  Large Scale

Flow Battery Market, by Application

• Utilities
• Commercial & Industrial
• Military
• EV Charging Station
• Others

Geographic Analysis

• North America (US, Canada, and Mexico)
• Europe (UK, Germany, France, and Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, and Rest of APAC)
• Rest of the World (South America, Middle East, and Africa)

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Flow Battery Market: North America expected to hold the largest size

The flow battery market was valued at USD 187.7 Million in 2017 and is expected to reach of USD 946.3 million by 2023 at a CAGR of 32.7% during the forecast period. The base year used for this study is 2017 and the forecast period considered is between 2018 and 2023.

North America expected to hold the largest size of the flow battery market during the forecast period

North America held the largest size of the flow battery market in 2017, followed by APAC and Europe. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the flow battery market. In addition, favorable economic conditions in the US and the increase in the importance of battery energy storage, as well as supportive regulatory policies aiding energy storage in the US and other countries in the region are encouraging many domestic and international manufacturers to deploy flow battery for efficient energy supply. Flow battery market in APAC is expected to grow at the highest rate during the forecast period.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are the major players operating in this market.

The research methodology used to estimate and forecast the flow battery market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources used in this research include information from various journals and databases such as Department of Energy (DOE), Energy Storage Journals and Magazines, Factiva, Hoovers, and OneSource. Moreover, the vendor offerings have been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the flow battery market from the revenue of the key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with the officials holding key positions in the industry such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

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The “vanadium” segment held a larger share of the overall flow battery market based on material. A vanadium-based flow battery is the most mature technology and is widely adopted in flow batteries. Currently, over 45 vanadium-based flow batteries have been installed worldwide for microgrid, grid, commercial, EV charging station, military, and telecommunications applications. Moreover, comparatively a higher number of flow battery provider employ vanadium material in their flow battery systems over other materials. However, the market for the zinc–bromine material is expected to grow at a significant CAGR during the forecast period. The major factors encouraging the zinc–bromine flow battery market are its benefits over vanadium material such as low cost and high availability.

The flow battery market for the utilities application is expected to grow at the highest CAGR during the forecast period. The utilities sector also holds the highest number of operational flow battery projects to date across the world. Further, there are various large-scale projects under construction that involve installations of flow batteries with capacity over a 1,000 MW.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Flow Battery Market estimated to reach 946.3 Million USD by 2023

The overall flow battery market is estimated to be valued at USD 230.2 Million in 2018 and is expected to reach of USD 946.3 Million by 2023, at a CAGR of 32.7% between 2018 and 2023. The growth of this market is being propelled by the increasing investment in renewable energy, inherent advantages of flow battery, high demand from utilities, and rising telecommunications tower installations.

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The report covers the flow battery market segmented on the basis of type, material, storage, application, and region. The redox segment is expected to hold the largest size of the flow battery market based on type by 2023. The growth of this market is being propelled by the high demand for redox flow battery from various applications such as utilities, industrial, commercial, and military across the world.

The “vanadium” segment held a larger share of the overall flow battery market based on material. A vanadium-based flow battery is the most mature technology and is widely adopted in flow batteries. Currently, over 45 vanadium-based flow batteries have been installed worldwide for microgrid, grid, commercial, EV charging station, military, and telecommunications applications. Moreover, comparatively a higher number of flow battery provider employ vanadium material in their flow battery systems over other materials. However, the market for the zinc–bromine material is expected to grow at a significant CAGR during the forecast period. The major factors encouraging the zinc–bromine flow battery market are its benefits over vanadium material such as low cost and high availability.

The flow battery market for the utilities application is expected to grow at the highest CAGR during the forecast period. The utilities sector also holds the highest number of operational flow battery projects to date across the world. Further, there are various large-scale projects under construction that involve installations of flow batteries with capacity over a 1,000 MW.

North America held the largest size of the flow battery market in 2017. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the market. The flow battery market in APAC is expected to grow the highest CAGR during the forecast period. By 2023, APAC is expected to account for the largest share of the market. This attributed to the growing number of flow battery projects for utilities, residential, industrial, and commercial applications in the region.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are the major players operating in this market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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North America expected to hold the largest size of the flow battery market during the forecast period

The flow battery market was valued at USD 187.7 Million in 2017 and is expected to reach of USD 946.3 million by 2023 at a CAGR of 32.7% during the forecast period. The base year used for this study is 2017 and the forecast period considered is between 2018 and 2023.

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The objectives of the study are as follows:

• To define, describe, segment and forecast the flow battery market, in terms of value, segmented on the basis of type, material, storage, application, and geography
• To forecast the market size for various segments, in terms of value, with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the major factors influencing the growth of the flow battery market (drivers, restraints, opportunities, and challenges)
• To analyze the micromarkets with respect to the individual growth trends, prospects, and contribution to the total market
• To provide a detailed overview of the value chain in the flow battery market
• To analyze the opportunities in the flow battery market for various stakeholders by identifying the high-growth segments of the market
• To strategically profile the key players in the market and comprehensively analyze their market position in terms of the ranking and core competencies, along with detailing the competitive landscape for market leaders
• To analyze the strategic developments such as product launches and developments, agreements, contracts, collaborations, expansions, and partnerships carried out in the market

North America expected to hold the largest size of the flow battery market during the forecast period

North America held the largest size of the flow battery market in 2017, followed by APAC and Europe. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the flow battery market. In addition, favorable economic conditions in the US and the increase in the importance of battery energy storage, as well as supportive regulatory policies aiding energy storage in the US and other countries in the region are encouraging many domestic and international manufacturers to deploy flow battery for efficient energy supply. Flow battery market in APAC is expected to grow at the highest rate during the forecast period.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are the major players operating in this market.

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About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
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MarketsandMarkets™ INC.
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Suite 430
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Flow Battery: Current Market Information and Coming Growth Factors

The flow battery market was valued at USD 187.7 Million in 2017 and is expected to reach of USD 946.3 million by 2023 at a CAGR of 32.7% during the forecast period. The base year used for this study is 2017 and the forecast period considered is between 2018 and 2023.

"Flow Battery Market by Type (Redox, and Hybrid), Material (Vanadium, Zinc–Bromine), Storage (Compact and Large scale), Application (Utilities, Commercial & Industrial, Military, EV Charging Station), and Geography - Global Forecast to 2023"

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The report covers the flow battery market segmented on the basis of type, material, storage, application, and region. The redox segment is expected to hold the largest size of the flow battery market based on type by 2023. The growth of this market is being propelled by the high demand for redox flow battery from various applications such as utilities, industrial, commercial, and military across the world.

The “vanadium” segment held a larger share of the overall flow battery market based on material. A vanadium-based flow battery is the most mature technology and is widely adopted in flow batteries. Currently, over 45 vanadium-based flow batteries have been installed worldwide for microgrid, grid, commercial, EV charging station, military, and telecommunications applications. Moreover, comparatively a higher number of flow battery provider employ vanadium material in their flow battery systems over other materials. However, the market for the zinc–bromine material is expected to grow at a significant CAGR during the forecast period. The major factors encouraging the zinc–bromine flow battery market are its benefits over vanadium material such as low cost and high availability.

The flow battery market for the utilities application is expected to grow at the highest CAGR during the forecast period. The utilities sector also holds the highest number of operational flow battery projects to date across the world. Further, there are various large-scale projects under construction that involve installations of flow batteries with capacity over a 1,000 MW.

North America held the largest size of the flow battery market in 2017. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the market. The flow battery market in APAC is expected to grow the highest CAGR during the forecast period. By 2023, APAC is expected to account for the largest share of the market. This attributed to the growing number of flow battery projects for utilities, residential, industrial, and commercial applications in the region.

In recent years, though flow battery has emerged as a potential technology that provides various energy storage advantages, it also encompasses a few technical drawbacks that hamper its market growth. The 2 major drawbacks of flow battery are lower power density and complexity of the structure. Flow batteries are more complicated than standard batteries as these require pumps, sensors, flow and power management, and secondary containment vessels to function. These components and its functional design make the battery comparably larger and heavier, which, in turn, restricts its application to large-scale areas, e.g., the utilities sector.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are some of the major companies operating in the flow battery market.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Attractive Growth Opportunities in the Flow Battery Market

The overall flow battery market is estimated to be valued at USD 230.2 Million in 2018 and is expected to reach of USD 946.3 Million by 2023, at a CAGR of 32.7% between 2018 and 2023. The growth of this market is being propelled by the increasing investment in renewable energy, inherent advantages of flow battery, high demand from utilities, and rising telecommunications tower installations.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownload.asp?id=82953888

 

The report covers the flow battery market segmented on the basis of type, material, storage, application, and region. The redox segment is expected to hold the largest size of the flow battery market based on type by 2023. The growth of this market is being propelled by the high demand for redox flow battery from various applications such as utilities, industrial, commercial, and military across the world.

The “vanadium” segment held a larger share of the overall flow battery market based on material. A vanadium-based flow battery is the most mature technology and is widely adopted in flow batteries. Currently, over 45 vanadium-based flow batteries have been installed worldwide for microgrid, grid, commercial, EV charging station, military, and telecommunications applications. Moreover, comparatively a higher number of flow battery provider employ vanadium material in their flow battery systems over other materials. However, the market for the zinc–bromine material is expected to grow at a significant CAGR during the forecast period. The major factors encouraging the zinc–bromine flow battery market are its benefits over vanadium material such as low cost and high availability.

The flow battery market for the utilities application is expected to grow at the highest CAGR during the forecast period. The utilities sector also holds the highest number of operational flow battery projects to date across the world. Further, there are various large-scale projects under construction that involve installations of flow batteries with capacity over a 1,000 MW.

North America expected to hold the largest size of the flow battery market during the forecast period

North America held the largest size of the flow battery market in 2017, followed by APAC and Europe. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the flow battery market. In addition, favorable economic conditions in the US and the increase in the importance of battery energy storage, as well as supportive regulatory policies aiding energy storage in the US and other countries in the region are encouraging many domestic and international manufacturers to deploy flow battery for efficient energy supply. Flow battery market in APAC is expected to grow at the highest rate during the forecast period.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are the major players operating in this market.

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About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
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MarketsandMarkets™ INC.
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sales@marketsandmarkets.com

Silicon Anode Battery Market | Revenue Intelligence Study | 1,018.3 Million USD by 2022

The silicon anode battery market is expected to grow at a CAGR of 43.4% between 2016 and 2022, and is projected to reach USD 1,018.3 Million by 2022 from USD 96.5 Million in 2015. 

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The growth of the silicon anode battery market is expected to be driven by factors such as growing R & D activities by major companies to develop batteries that have significantly high energy storage capacity and longer life and increasing demand for eco-friendly electrical vehicles. Silicon anode lithium batteries are being widely used for portable electronic devices, due to their superior energy density and high cell voltage, which is expected to boost the growth of the silicon anode battery market in near future.

The scope of this report covers the silicon anode battery market on the basis of capacity, type, application, and geography. In terms of capacity, 1,500 to 2,500 mAh was the largest segment of the market in 2015. Silicon anode batteries are majorly used in consumer electronics, such as smartphones, mobiles & tablets, laptops and wearable devices among others. These batteries are expected to help meet the future requirements of energy storage, long cycle life, safety, and reliability. There has been an increased demand for silicon anode battery from automotive manufacturers for use in plug-in electric vehicle to increase their all-electric range with the same volume of batteries or use fewer batteries to achieve the same range.

Based on type, prismatic is expected to be the largest segment of the silicon anode battery market in 2016. Modern prismatic cells make optimal use of space by using the layered approach as compared to traditional cell. Prismatic cells improve space utilization and allow flexible design; however, these cells have a shorter cycle life, can be expensive to manufacture, and less efficient in thermal management as compared to cylindrical cells.

APAC expected to witness highest growth during the forecast period

The implementation of silicon anode battery is increasing in APAC, and is expected to witness substantial investments by various companies to set up their silicon anode battery manufacturing base in the region. Silicon anode batteries have gained popularity among the automobile manufacturers as they offer an alternative to nickel metal batteries used in electric vehicles, due to their small size and lightweight. Thus, the increasing demand for electrical vehicle (EV), hybrid electric vehicle (HEV) and plug-in hybrid vehicle (PHV) would foster the adoption of silicon anode Li-ion batteries in APAC.

Some of the key players in the global silicon anode battery market are Amprius, Inc. (U.S.), Panasonic Corp (Japan), Samsung SDI (South Korea), LG Chem (South Korea), Nexeon Limited (U.K.), Los Angeles Cleantech Incubator (U.S), Nanotek Instruments, Inc. (U.S.), Enevate Corporation (U.S.), Zeptor Corporation (U.S.), XG Sciences (U.S.), and California Lithium Battery Inc. (U.S.).

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MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. 

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. 

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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