RKP DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO. LTD.
STRYTEN ENERGY
SUMITOMO ELECTRIC INDUSTRIES LTD.
THORION ENERGY
VIZN ENERGY SYSTEMS
VOLTSTORAGE
VRB ENERGY
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The global flow battery market was valued at $344.7 million in 2023. This market is expected to grow from $416.3 million in 2024 to $1.1 billion by the end of 2029, at a compound annual growth rate (CAGR) of 21.7% from 2024 through 2029.
The Asia-Pacific flow battery market is expected to grow from $205.1 million in 2024 to $509.1 million by 2029, at a CAGR of 19.9% from 2024 through 2029.
The European flow battery market is expected to grow from $92.7 million in 2024 to $278.5 million by 2029, at a CAGR of 24.6% from 2024 through 2029.
Report Scope
This report analyzes the flow battery market by battery type, battery material, deployment, application and end-use industries. Additionally, the report discusses the technological, regulatory, competitive and economic trends that impact the market. The analyst has included a patent analysis for the flow battery market, which depicts a strong investment prospect for investors. It analyzes emerging technologies, the impact of COVID-19, and the competitive landscape, which enables the reader to understand the global market. The report concludes by looking at environmental, social and governance (ESG) developments and by providing detailed profiles of the major manufacturers of flow batteries.
The report also includes analysis by region (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa) and by country (the U.S., Germany, the U.K., and China), using 2023 as a base year. Estimates are provided for 2024, and market values are forecast through 2029. All market values are in dollar ($) millions. The report excludes the automotive industry as an end-use industry, specifically the transportation sector, which involves the EV industry.
Report Includes
51 data tables and 50 additional tables
An overview of the technical and business aspects of the global market for flow batteries
Analyses of global market trends, with market revenue data for 2023, estimates for 2024, forecast for 2025 and 2027, and projected CAGRs through 2029
Estimates of the size and revenue prospects of the global market, along with a market share analysis by battery type, battery material, deployment type, application, end-use, and region
Facts and figures pertaining to the market dynamics, technical advances, regulations, innovations, and the impact of macroeconomic factors
Insights from a Porter's Five Forces model, and global value chain and PESTLE analyses
Patent analysis, emerging trends and technologies, and new developments
Analysis of the industry structure, including companies' market shares and global rankings, strategic alliances, M&A activity and a venture funding outlook
Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes and the ESG scores and practices of leading companies
Company profiles of leading players, including Sumitomo Electric Industries Ltd., Invinity Energy Systems, ESS Tech Inc., Rongke Power and Redflow Ltd.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Market Dynamics and Growth Factors
Analysis by Segment
Regional Insights and Emerging Markets
Conclusion
Chapter 2 Market Overview
Market Overview and Future Scenarios
Value Chain Analysis
Raw Material Extraction
Material Processing
Component Manufacturers
Product Assembly
End-Use Applications and Integration
Battery Recycling and Disposal
Porter's Five Forces Model
Bargaining Power of Buyers
Bargaining Power of Suppliers
Potential for New Entrants
Competition in the Industry
Threat of Substitutes
Impact of Russia-Ukraine War
PESTLE Analysis
Chapter 3 Market Dynamics
Overview
Market Drivers
Preference for Flow Batteries over Conventional Batteries
Use of Flow Batteries by Utilities
Increasing Renewable Power Generation
Market Restraints
High Upfront Investment Cost
Volatility in the Price of Vanadium
Market Opportunities
Grid Modernization
Technological Developments
Public and Private Investments
Market Trends
Demand for Long-Duration Battery Storage Technologies
Supportive Government Regulations
Chapter 4 Emerging Technologies and Developments
Overview
Emerging Battery Materials
Emerging Technologies in Flow Battery Development
Iron Flow Batteries
Iron-Chromium Redox Flow Batteries
Patent Analysis
Overview
Key Patents
Key Takeaways
Chapter 5 Market Segmentation Analysis
Breakdown by Segment
Global Flow Battery Market, by Battery Type
Redox
Hybrid
Global Flow Battery Market, by Battery Material
Vanadium
Zinc-Bromine
Other Battery Materials
Global Flow Battery Market, by Deployment Type
Small-Scale
Large-Scale
Global Flow Battery Market, by Application
Load Shifting
Peaking Capacity
Microgrid Formation
Others
Global Flow Battery Market, by End Use
Utilities
Commercial and Industrial
Residential
Geographic Breakdown
Global Flow Battery Market, by Region
North America
Europe
Asia-Pacific
Rest of World
Chapter 6 Competitive Intelligence
Market Ranking
Recent Developments
Chapter 7 Sustainability in the Flow Battery Market: An ESG Perspective
Overview
Environmental Impact
Social Impact
Governance Impact
Status of ESG in the Flow Battery Industry
Case Studies Successful Implementations of ESG
Invinity Energy Systems
Sumitomo Electric Industries Ltd.
StorEn Technologies
Enerox GmbH
Consumer Attitudes Towards ESG
Concluding Remarks from BCC
Chapter 8 Appendix
Methodology
Research Steps
References
Abbreviations
Company Profiles
ENEROX GMBH
ESS TECH INC.
INVINITY ENERGY SYSTEMS
LARGO INC.
PRIMUS POWER
REDFLOW LTD.
RKP DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO. LTD.