Portland, OR, May 21, 2020 (GLOBE NEWSWIRE) -- A report added by Big Market Research divulges that the global redox flow battery market was anticipated to reach $403.0 million by 2026, registering a CAGR of 15.2% from 2019 to 2026. The report offers an executive summary including all valuable market figures and deliberates the key factors that are expected to boost the market growth.
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The report begins with an introduction of the Global Redox Flow Battery Market: definitions, segmentations, applications, market overview, driving and restraining factors, and so on. Further, a detailed analysis of the major regions affecting the market conditions is outlined in the report. The report also covers detailed information about every competitor in the market.
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According to the report, upsurge in the production of renewable energy worldwide and increase in the demand for energy storage are the major factors hugely contributing to the growth of the redox flow batteries market. However, redox flow battery technology is comparatively new and is yet to undergo a lot of development. The technology also holds some limitations such as low energy to volume ratio over other counterparts and high initial manufacturing cost which might hinder the growth of the global market. On the other hand, growing applications of redox flow batteries in electric vehicles and rise in investments by various industry players into this technology are projected to unlock lucrative growth opportunities for the market players during the forecast period.
The study provides a detailed analysis of the major segments of the market with the help of charts and tables. The global redox flow battery market is segmented based on type, application, and region. By type, the report classifies the global market into flow battery, vanadium redox, and hybrid redox flow battery. Depending on applications, the report divides the market into UPS, renewable energy integration, utility facilities, and others. Based on the region, the market is analyzed across Asia-Pacific, Europe, North America, and LAMEA. Furthermore, countries from each region are explored in the report. The report offers detailed insights concerning the trends, developments, and imminent opportunities in every region.
Moreover, the report divulges exhaustive information about the major players as well as some minor players in the market. The key players profiled in this report include Dalian Rongke Power, UniEnergy Technologies., Sumitomo Electric Industries, Ltd., Vionx Energy, CELLCUBE, HydraRedox, Avalon Battery Corporation, Big pawer Electrical Technology Xiangyang Inc. Co., Ltd, VRB ENERGY, Pinflow energy storage, s.r.o., and others.
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This study intends to provide detailed insights on the current as well as prospective players in this market and helps new market entrants dive deep into the market competition. The report is formulated based on an exhaustive analysis of the market by experts. The insights delivered in this report can help investors determine investment suitability and market players grab opportunities for collaborations, partnerships, and merges. As a final point, investors, stakeholders, marketing executives, product managers, and other professionals in search of accurate data on supply, demand, and future estimates would find the report valuable.
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