Dublin, Jan. 14, 2025 (GLOBE NEWSWIRE) -- The "Flow Battery Market by Battery Type, Material, Storage, Use Cases and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global flow battery market is valued at USD 0.34 billion in 2024 and is projected to reach USD 1.18 billion by 2030; it is expected to register a CAGR of 23% during the forecast period.
Renewable energy storage is a key use of flow batteries. Many nations, including the US, India, China, and Japan, are revising their energy policies to incorporate a significant portion of renewable energy, such as wind and solar. Government support and resulting profits are driving increased investment in renewable energy. Renewable sources are now preferred for expanding and modernizing power systems worldwide. Initiatives like net zero emissions, carbon neutrality, and sustainable transportation are attracting investments in renewable energy generation. 
Zinc bromine expected to grow at an impressive CAGR during the forecast period
Zinc-bromine flow batteries are perfect for energy storage in view of the multiple benefits. Their circulating electrolyte simplifies thermal control and the distribution of reactants throughout the cell. Also, they have wellsuit to specific energy and efficiency energy and can store and transform energy. These batteries are also made of cheap and easily available and those recyclable components are manufactured by means of standard practice. It can run under ambient temperature and have the benefits in the system configuration. Also they possesses satisfactory power density and could charge quickly and can endure deep discharge without getting ailing. Zinc-bromine flow batteries are already on the market so zinc-bromine flow batteries for energy storage solutions are feasible.
North America likely to grow at the second highest CAGR during the forecast period
The North American flow battery market has been thoroughly researched in regions, including the US, Canada, and Mexico. The US is one of the major contributors to the regional market growth. The regional market growth is owed to the significant presence of industry participants, such as ESS Tech, Inc. (US), ESS Tech, Inc. (US), Primus Power (US), and Lockheed Martin Corporation (US) are expected to create growth opportunities in the coming years. The companies majorly focus on strategic partnerships, product launches, and continuous developments to increase their product portfolio and fulfill the requirements of various applications.
Research Coverage
The report segments the flow battery market and forecasts its size by battery type, storage, material, ownership, application, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the flow battery ecosystem.
The flow battery market is dominated by a few globally established players such as Invinity Energy Systems (UK), Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Enerox GmbH (Austria), Elestor (The Netherlands), ESS Tech, Inc. (US), Largo Inc. (Canada), Lockheed Martin Corporation (US), and Primus Power (US). The study includes an in-depth competitive analysis of these key players in the flow battery market, with their company profiles, recent developments, and key market strategies.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $0.34 Billion |
| Forecasted Market Value (USD) by 2030 | $1.18 Billion |
| Compound Annual Growth Rate | 23% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Growing Awareness About Benefits of Flow Batteries Over Traditional Batteries
- Increasing Investments in Renewable Energy Projects
- Surging Use of Flow Batteries in Utility and Smart Grid Applications
- Increasing Deployment of Telecom Towers
- Restraints
- Need for Substantial Upfront Capital Investments
- Standardization Challenges Associated with Flow Batteries
- Opportunities
- Growing Demand for Backup Power Solutions for Data Center Applications
- Rising Use of Flow Battery-Integrated Residential Energy Storage Solutions
- Increasing Focus on Power Grid Modernization
- Rising Demand for Advanced Battery Technologies
- Challenges
- Availability of Alternative Battery Technologies
Case Study Analysis
- Redflow Provides Optus Telecommunications with Flow Batteries to Reduce CO2 Emissions
- Veriv and Redflow Provide Vodafone New Zealand Ltd. with Flow Battery-Integrated HESS to Ensure Constant Off-Grid Power
- Invinity Energy Systems Deploys Flow Battery System in Oxford to Enable Load Shifting for EV Charging
Other Insights Covered
- Trends/Disruptions Impacting Customer Business
- Pricing Analysis
- Value Chain Analysis
- Ecosystem Analysis
- Investment and Funding Scenario
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Key Conferences and Events, 2025
- Regulatory Landscape
- Key Stakeholders and Buying Criteria
- Impact of AI/Gen AI on Flow Battery Market
Companies Profiled in the Report
- Sumitomo Electric Industries, Ltd.
- Invinity Energy Systems
- Enerox GmbH
- VRB Energy
- ESS Tech, Inc.
- RKP Dalian Rongke Energy Storage Technology Development Co., Ltd.
- Elestor BV
- Largo Inc.
- Lockheed Martin Corporation
- Primus Power Solutions
- Stryten Energy
- ViZn Energy Systems
- EverFlow
- H2, Inc.
- KemiWatt
- nanoFlowcell Management AG
- StorEn Technologies
- VFlowTech Pte Ltd.
- VisBlue A/S
- Volterion GmbH & Co. KG
- VoltStorage
- VanEvo GmbH
- Flux XII
- Otoro Energy, Inc.
- Sinergy Flow Srl
For more information about this report visit https://www.researchandmarkets.com/r/710n6b
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