Dublin, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The "Flow Batteries - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Flow Batteries Market to Reach $2 Billion by 2030
The global market for Flow Batteries estimated at US$296.6 Million in the year 2022, is projected to reach a revised size of US$2 Billion by 2030, growing at a CAGR of 27% over the analysis period 2022-2030.
Vanadium, one of the segments analyzed in the report, is projected to record 26.4% CAGR and reach US$1.3 Billion by the end of the analysis period. Growth in the Zinc-Bromine segment is estimated at 29.4% CAGR for the next 8-year period.
Flow batteries are a type of energy storage technology known for their flexibility and long cycle life. These batteries have various types and technologies, with their own set of advantages and disadvantages. Flow batteries find applications in a range of sectors, including utilities, where their capacity for storing large amounts of energy is particularly useful.
The global flow battery market is influenced by factors such as the shifting focus on managing future pandemics, with developing economies expected to contribute significantly to future growth. Vanadium flow batteries are a prominent technology in this market, especially in applications related to utilities.
The competitive landscape in 2022 shows varying market shares among key players in the flow battery industry, with some having strong market presence while others operate in niche or trivial segments. Recent market activity reflects the ongoing developments and strategic moves of these companies in the flow battery market.
The U.S. Market is Estimated at $61 Million, While China is Forecast to Grow at 32.4% CAGR
The Flow Batteries market in the U.S. is estimated at US$61 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$402.4 Million by the year 2030 trailing a CAGR of 32.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.5% and 24.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 25% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 295 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $296.6 Million |
| Forecasted Market Value (USD) by 2030 | $2000 Million |
| Compound Annual Growth Rate | 26.9% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Growth of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: A Key Opportunity for Flow Batteries
- Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
- Targets for Electricity Production from Renewable Energy Sources in Select Countries
- Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies
- Will Flow Batteries Surpass Li-ion for Large-scale Energy Storage
- Energy Storage Grange Challenge
- Burgeoning Global Population Propels Demand for Electric Power
- Growing Opportunities for Flow Batteries in Clean Energy Space
- Flow Batteries: Potential to be a Game Changer for Electric Vehicles
- EV Industry Likely to See Significant Changes in Post COVID Period
- Stringent Regulations Encompassing Emission Control & Phase-Out of Fossil Fuel Vehicles Prep the Auto Industry for an Electrified Future
- Growing EV Adoption Pushes Up Stakes for Flow Batteries
- Utilities: The Major End-Use Market for Flow Batteries
- Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
- Electricity Demand Patterns Encourage Market Expansion
- Grid Modernization Programs Emphasize Grid Connected Energy Storage
- Flow Batteries for Grid Storage
- Redox Flow Battery for the Grid-Scale
- Smart Grids Elevate the Prospects for Flow Batteries
- Global Market for Smart Grids (in US$ Billion) by Region for the Years 2018 and 2020
- Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
- Rapid Growth in Telecom Tower Installations Fuels Need for Flow Batteries
- Residential Applications to Witness Increased Penetration of Flow Batteries in the Long Run
- Flow Batteries to Emerge as a Reliable Tool in Military Microgrids
- Vanadium Emerges as a Preferred Electrolyte in Flow Batteries
- Vanadium Flow Batteries Unveil Opportunities in Energy Storage
- Vanadium Redox Flow Batteries: A High Growth Market
- VRFBs Demonstrate Efficiency in Sustainable Energy Applications
- Vanadium Redox Flow Batteries Face Stiff Challenge in Replacing Li-ion Batteries for Utility-Scale Storage
- Bromine Flow Batteries: Opportunities in Store
- Hybrid Flow Battery Market: An Overview
- Zinc-Bromine (ZnBr) Chemistry: A Reliable Hybrid Flow Battery
- Redox Flow Batteries: Significant Potential in Storage Battery Market
- RFB Holds Immense Potential in Mitigating Supply & Demand Issues
- Technological Innovations & Advancements Drive Flow Batteries Demand
- New Solar Flow Battery with Increased Energy Conversion Efficiency
- MIT Develops Chitin-Electrode Based Vanadium Flow Batteries
- CIC EnergiGUNE Develops Novel Redox Organic Flow Battery
- USC Research Team Develops AQDS-Iron Sulphate Based New Redox Flow Battery
- Stanford Researchers Create New Type of Liquid Metal Based Flow Battery
- IBM and ETH Develop Tiny Redox Flow Battery for Electronic Components
- MIT Researchers Develop Sulfur Flow Battery for Cost-Efficient Long-Term Grid Storage
- Harvard Researchers Demonstrate New Methuselah Quinone for Organic Flow Battery
- Researchers Develop Aluminum-Air Flow Battery for EVs
- Gelion's Flow Batteries Emerge as Alternatives to Li-Ion Batteries
- ViZn Energy's Flow Batteries
- Flow Batteries Vs Li-ion and PbA Batteries: A Review
- Rentable Electrolytes Model Comes into Spotlight for Flow Batteries to Compete Against Lithium Ion Batteries
- Challenges Confronting Flow Batteries Market
FOCUS ON SELECT PLAYERS(Total 51 Featured)
- Lockheed Martin Corporation
- OCI Co., Ltd.
- EnerVault
- J. Schmalz GmbH
- Aquion Energy, Inc.
- Ashlawn Energy LLC
- ESS, Inc.
- Primus Power Corporation
- Redflow Limited
- H2, Inc.
- Bushveld Energy
- RFC Power
- Australian Vanadium
- Cellcube
- Hydraredox
For more information about this report visit https://www.researchandmarkets.com/r/i8u1yz
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