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フロー電池市場:電池タイプ(レドックス、ハイブリッド)、材料(バナジウム、臭素亜鉛、有機物、鉄)、貯蔵(大規模、小規模)、用途(公益事業、商業・産業、EV充電ステーション)、地域別 - 2028年までの世界予測


Flow Battery Market by Battery Type (Redox, Hybrid), Material (Vanadium, Zinc Bromine, Organic, Iron), Storage (Large-scale, Small-scale), Application (Utilities, Commercial & Industrial, EV Charging Stations) and Region - Global Forecast to 2028

世界のフロー電池市場規模は、2023年の2億8,900万米ドルから2028年には8億500万米ドルに成長し、2023年から2028年までの年平均成長率は22.8%と予想されている。フロー電池市場の成長の背景には、再生可能エネル... もっと見る

 

 

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世界のフロー電池市場規模は、2023年の2億8,900万米ドルから2028年には8億500万米ドルに成長し、2023年から2028年までの年平均成長率は22.8%と予想されている。フロー電池市場の成長の背景には、再生可能エネルギーへの投資の増加と、フロー電池が従来のものより提供する利点があり、それが様々な用途での採用に拍車をかけていることが挙げられる。
"ハイブリッドフローバッテリー分野は予測期間中に大きなCAGRで成長すると予測される"
ハイブリッド・フロー電池は、標準的なフロー電池の設計に比べてさらなる利点がある。臭素亜鉛ハイブリッド電池は、他のフロー電池よりもエネルギー密度が高い。また、バナジウム材料の抽出コストが高いため、多くのメーカーがフロー電池にハイブリッド設計を採用している。近年、ハイブリッド・フロー電池の可能性を追求し、よりコンパクトで安価なシステムを構築するための研究プログラムがいくつかの国で実施されている。また、過去数年間で、市場の一部のプレーヤーは、公共事業、商業、住宅など様々な用途向けにハイブリッド電池を商品化している。

"予測期間中、公益事業用途が最大のシェアを占める見込み"
より高いエネルギー容量へのニーズの高まりに伴い、送電網の近代化の必要性が世界的に不可欠となっている。セキュリティの向上、ピーク負荷の低減、再生可能エネルギーの統合の増加、運用コストの低減は、最新のグリッドシステムの利点である。長年にわたり、信頼性の高いエネルギーとクリーンなシステムが世界中で必要とされてきた。電力業界全体で再生可能エネルギーの普及が進んでいるため、効率的で柔軟性が高く、長期運転が可能なエネルギー貯蔵ソリューションの必要性が高まっています。フロー電池は、その魅力的な特徴をすべて備えているため、大規模な電力会社が、将来のグリッド利用のために再生可能エネルギーをあらゆる場所でコスト効率よく貯蔵できる技術を必要としていることから、電力会社ベースの貯蔵技術として最も好まれるエネルギー貯蔵技術となっている。あらゆる用途の中で、バナジウムベースのレドックスフロー電池は、公益事業部門で最も広く商業化されている。また、公益事業部門では、フロー電池の稼働プロジェクト数が世界的に最も多い。

"予測期間中、アジア太平洋地域の市場が最も高いCAGRで成長する見込み"
アジア太平洋地域は予測期間中、最も高い年平均成長率で成長すると予想される。中国、日本、インド、オーストラリアなどの国々は、電気の安定性を高めることができる先進的なバッテリー技術の採用を通じて、大規模なエネルギー貯蔵能力を高めようと努力している。オーストラリア、インド、中国、日本などの各国政府は、規制や改革を導入し、電力部門の近代化に取り組んでいる。アジア太平洋地域には、定格出力が高いフロー電池が数多く稼働している。オーストラリアには、公共事業、住宅、産業、商業用途のフロー電池プロジェクトが多数ある。住友電気工業株式会社(日本(住友電気工業株式会社(日本)とRedflow Limited(オーストラリア)がアジア太平洋フロー電池市場の主要な業界参加者である。
主要参入企業のプロフィール内訳
- 企業タイプ別:ティア1 - 25%、ティア2 - 30%、ティア3 - 45
- 役職別Cレベル幹部:35%、取締役:25%、その他:40
- 地域別北米:35%、欧州:25%、アジア太平洋地域:32%、その他地域:8
本レポートに掲載されている主なプレイヤーは以下の通り:住友電気工業株式会社(日本(住友電気工業(日本)、VRB Energy(カナダ)、Invinity Energy Systems(英国)、Largo Inc.(カナダ)、Enerox GmbH(オーストリア)、Redflow Limited(オーストラリア)、Stryten Energy(米国)、ViZn Energy Systems(米国)、Lockheed Martin Corporation(米国)、Jenabatteries GmbH(ドイツ)、SCHMID Group(ドイツ)、Elestor BV(オランダ)、Primus Power Solutions(米国)、ESS Inc.(米国)など。
調査範囲
フロー電池市場は、電池タイプ、材料、所有権、貯蔵、用途、地域別に分類されている。市場はタイプ別にレドックスフロー電池とハイブリッドフロー電池に区分されている。材料別では、市場はバナジウム、亜鉛-臭素、その他に区分されている。所有者別では、市場は顧客所有、第三者所有、電力会社所有にセグメント化されている。ストレージ別では、小規模ストレージと大規模ストレージに区分される。さらに、市場の用途別セグメントには、公益事業、商業・産業、EV充電ステーション、その他の用途が含まれる。また、主要4地域(北米、欧州、アジア太平洋地域、RoW)における市場規模も予測している。
レポート購入の主なメリット
本レポートは、以下のポイントに関する洞察を提供します:
フロー電池市場の成長に影響を与える主な促進要因(従来技術に対するフロー電池の利点、再生可能エネルギーへの投資の増加、公益事業におけるフロー電池の高い需要、通信タワーの設置急増)、阻害要因(高額な初期投資の要件、フロー電池システム開発のための適切な基準の欠如)、機会(データセンターにおけるバックアップ電源の需要の増加、住宅用途での採用の増加、レドックス電池技術を改善するための研究開発の増加)、課題(手頃な価格の代替エネルギー貯蔵技術の存在)に関する分析。
製品開発/イノベーション:フロー電池市場における今後の製品、技術、研究開発活動、資金調達活動、業界提携、新製品発売に関する詳細な洞察
市場開発:有利な市場に関する包括的情報 - 当レポートでは、北米、ヨーロッパ、アジア太平洋地域、中東・アフリカ、南米などの地域にわたるフロー電池市場を分析しています。
市場の多様化:フロー電池市場における新製品・新技術、未開拓地域、最新動向、投資に関する網羅的情報
競合評価:住友電気工業株式会社(日本)、VRB Energy社(日本)などの主要企業の市場ランク、成長戦略、製品ラインアップを詳細に評価。(フロー電池市場における住友電気工業株式会社(日本)、VRB Energy社(カナダ)、Invinity Energy Systems社(英国)、Largo Inc.社(カナダ)、Enerox GmbH社(オーストリア)、Redflow Limited社(オーストラリア)などの主要企業の市場順位、成長戦略、製品提供などを詳細に評価。
戦略本レポートはまた、関係者がフロー電池市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供します。

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目次

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 27
1.3 STUDY SCOPE 28
1.3.1 MARKETS COVERED 28
FIGURE 1 FLOW BATTERY MARKET SEGMENTATION 28
1.3.2 INCLUSIONS AND EXCLUSIONS 28
1.3.3 GEOGRAPHICAL SCOPE 29
FIGURE 2 FLOW BATTERY MARKET: REGIONS COVERED 29
1.3.4 YEARS CONSIDERED 29
1.4 CURRENCY CONSIDERED 30
1.5 LIMITATIONS 30
1.6 STAKEHOLDERS 30
1.7 SUMMARY OF CHANGES 31
1.8 RECESSION IMPACT 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH APPROACH 32
FIGURE 3 FLOW BATTERY MARKET: RESEARCH DESIGN 32
2.1.1 SECONDARY AND PRIMARY RESEARCH 33
FIGURE 4 FLOW BATTERY MARKET: RESEARCH APPROACH 33
2.1.2 SECONDARY DATA 34
2.1.2.1 List of major secondary sources 34
2.1.2.2 Key data from secondary sources 35
2.1.3 PRIMARY DATA 35
2.1.3.1 Primary interviews with experts 36
2.1.3.2 Key data from primary sources 36
2.1.3.3 Key industry insights 37
2.1.3.4 Breakdown of primaries 37
2.2 MARKET SIZE ESTIMATION 37
2.2.1 BOTTOM-UP APPROACH 38
2.2.1.1 Approach to arrive at market size using bottom-up analysis 38
FIGURE 5 FLOW BATTERY MARKET: BOTTOM-UP APPROACH 38
2.2.2 TOP-DOWN APPROACH 39
2.2.2.1 Approach to arrive at market size using top-down analysis 39
FIGURE 6 FLOW BATTERY MARKET: TOP-DOWN APPROACH 39
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR FLOW BATTERY MARKET: SUPPLY-SIDE ANALYSIS 40

2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 41
FIGURE 8 DATA TRIANGULATION 41
2.4 RESEARCH ASSUMPTIONS 42
FIGURE 9 ASSUMPTIONS 42
2.5 PARAMETERS CONSIDERED TO UNDERSTAND RECESSION IMPACT ON FLOW BATTERY MARKET 43
2.6 RISK ASSESSMENT 43
TABLE 1 RISK ASSESSMENT 43
3 EXECUTIVE SUMMARY 44
FIGURE 10 FLOW BATTERY MARKET SIZE, 2019–2028 (USD MILLION) 44
FIGURE 11 REDOX FLOW BATTERIES TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 45
FIGURE 12 VANADIUM SEGMENT TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET, BY MATERIAL, DURING FORECAST PERIOD 45
FIGURE 13 LARGE-SCALE FLOW BATTERIES TO DOMINATE MARKET FROM 2023 TO 2028 46
FIGURE 14 UTILITIES SEGMENT TO LEAD FLOW BATTERY MARKET, BY APPLICATION, THROUGHOUT FORECAST PERIOD 46
FIGURE 15 NORTH AMERICA HELD LARGEST SHARE OF FLOW BATTERY MARKET IN 2022 47
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FLOW BATTERY MARKET 48
FIGURE 16 GROWING ADOPTION OF FLOW BATTERIES IN UTILITIES APPLICATIONS TO DRIVE MARKET FROM 2023 TO 2028 48
4.2 FLOW BATTERY MARKET, BY BATTERY TYPE 48
FIGURE 17 REDOX BATTERY TYPE TO LEAD FLOW BATTERY MARKET DURING FORECAST PERIOD 48
4.3 FLOW BATTERY MARKET, BY APPLICATION 49
FIGURE 18 UTILITIES APPLICATION TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD 49
4.4 FLOW BATTERY MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY, 2028 49
FIGURE 19 UTILITIES APPLICATION AND US TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET IN NORTH AMERICA BY 2028 49
4.5 FLOW BATTERY MARKET, BY COUNTRY 50
FIGURE 20 FLOW BATTERY MARKET IN CHINA EXPECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
FIGURE 21 FLOW BATTERY MARKET DYNAMICS 51
5.2.1 DRIVERS 52
5.2.1.1 Growing preference for flow batteries over conventional batteries 52
5.2.1.2 Government-led investments in developing renewable energy storage systems 52
FIGURE 22 GLOBAL INVESTMENTS IN RENEWABLE ENERGY, 2019–2023 (USD BILLION) 53
5.2.1.3 High adoption of flow batteries in utilities sector 53
5.2.1.4 Increasing installations of telecom towers 54
FIGURE 23 IMPACT OF DRIVERS ON GLOBAL FLOW BATTERY MARKET 54
5.2.2 RESTRAINTS 55
5.2.2.1 Need for substantial upfront investment 55
5.2.2.2 Lack of calibration standards 55
FIGURE 24 IMPACT OF RESTRAINTS ON GLOBAL FLOW BATTERY MARKET 55
5.2.3 OPPORTUNITIES 56
5.2.3.1 Increasing importance of backup power systems in data centers 56
5.2.3.2 Rising adoption of flow batteries in residential applications 56
5.2.3.3 Increasing focus on grid modernization 56
5.2.3.4 Rising focus on developing efficient and sustainable batteries 57
FIGURE 25 IMPACT OF OPPORTUNITIES ON GLOBAL FLOW BATTERY MARKET 57
5.2.4 CHALLENGES 57
5.2.4.1 Presence of affordable alternative battery technologies 57
FIGURE 26 IMPACT OF CHALLENGES ON GLOBAL FLOW BATTERY MARKET 58
5.3 VALUE CHAIN ANALYSIS 58
FIGURE 27 FLOW BATTERY MARKET: VALUE CHAIN ANALYSIS 58
5.4 ECOSYSTEM MAPPING 60
FIGURE 28 GLOBAL FLOW BATTERY MARKET: ECOSYSTEM 60
TABLE 2 FLOW BATTERY MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 61
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 62
FIGURE 29 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN FLOW BATTERY MARKET 62
5.6 PORTER’S FIVE FORCES ANALYSIS 62
TABLE 3 FLOW BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS 62
FIGURE 30 FLOW BATTERY MARKET: PORTERS FIVE FORCES ANALYSIS 63
5.6.1 BARGAINING POWER OF SUPPLIERS 63
5.6.2 BARGAINING POWER OF BUYERS 63
5.6.3 THREAT OF NEW ENTRANTS 63
5.6.4 THREAT OF SUBSTITUTES 64
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 64
5.7 CASE STUDY ANALYSIS 64
TABLE 4 OPTUS TELECOMMUNICATIONS REDUCED GENERATOR OPERATING TIME USING FLOW BATTERIES 64
TABLE 5 SANDBAR SOLAR PARTNERED WITH INVINITY ENERGY AND AGETO ENERGY TO DEVELOP VANADIUM FLOW BATTERY AND MICROGRID SOLUTIONS 65
TABLE 6 VODAFONE NEW ZEALAND USED FLOW BATTERIES TO PROVIDE OFF-GRID POWER IN REMOTE LOCATION 65
5.8 TECHNOLOGY TRENDS 66
5.8.1 SODIUM-SULFUR BATTERIES 66
5.8.2 COBALT-FREE BATTERIES 66
5.8.3 POTASSIUM-METAL BATTERIES 66
5.8.4 SOLID-STATE BATTERIES 66
5.8.5 METAL-AIR BATTERIES 67
5.8.6 LIQUID-METAL BATTERIES 67
5.8.7 LITHIUM-SILICON BATTERIES 67
5.8.8 LITHIUM-SULFUR BATTERIES 67
5.9 PRICING ANALYSIS 67
FIGURE 31 AVERAGE SELLING PRICE TREND OF FLOW BATTERY, 2022–2028 68
5.9.1 AVERAGE SELLING PRICE TREND, BY BATTERY TYPE 68
TABLE 7 AVERAGE SELLING PRICE OF FLOW BATTERIES, BY BATTERY TYPE 68
5.9.2 AVERAGE SELLING PRICE TREND, BY KEY PLAYER 69
FIGURE 32 AVERAGE SELLING PRICE OF FLOW BATTERIES OFFERED BY KEY PLAYERS 69
TABLE 8 AVERAGE SELLING PRICE OF FLOW BATTERIES OFFERED BY KEY PLAYERS 69
5.9.3 AVERAGE SELLING PRICE TREND, BY REGION 69
TABLE 9 AVERAGE SELLING PRICE OF FLOW BATTERIES, BY REGION 69
5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 70
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS 70
FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 70
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 70
5.10.2 BUYING CRITERIA 70
FIGURE 34 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 70
TABLE 11 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 71
5.11 TRADE ANALYSIS 71
FIGURE 35 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8112, BY KEY COUNTRIES, 2018–2022 (USD MILLION) 71
FIGURE 36 EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8112, BY KEY COUNTRIES, 2018–2022 (USD MILLION) 72
5.12 PATENT ANALYSIS 72
FIGURE 37 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 72
TABLE 12 US: TOP 20 PATENT OWNERS IN LAST 10 YEARS 73
FIGURE 38 NUMBER OF PATENTS GRANTED PER YEAR FROM 2013 TO 2022 74
TABLE 13 FLOW BATTERY MARKET: LIST OF PATENTS, 2022–2023 74
5.13 KEY CONFERENCES AND EVENTS, 2023–2024 75
TABLE 14 FLOW BATTERY MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 75
5.14 TARIFFS AND REGULATORY LANDSCAPE 76
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 15 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 16 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 17 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 18 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
5.14.2 REGULATORY STANDARDS 78
TABLE 19 FLOW BATTERY MARKET: STANDARDS 78
6 FLOW BATTERY MARKET, BY BATTERY TYPE 80
6.1 INTRODUCTION 81
FIGURE 39 FLOW BATTERY MARKET, BY BATTERY TYPE 81
FIGURE 40 REDOX TO HOLD DOMINANT SHARE OF FLOW BATTERY MARKET THROUGHOUT FORECAST PERIOD 81
TABLE 20 FLOW BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION) 82
TABLE 21 FLOW BATTERY MARKET, BY TYPE, 2023–2028 (USD MILLION) 82
6.2 REDOX 82
6.2.1 GROWING ADOPTION OF REDOX FLOW BATTERIES IN LARGE-SCALE ENERGY STORAGE APPLICATIONS TO BOOST SEGMENTAL GROWTH 82
TABLE 22 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 83
TABLE 23 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 83
TABLE 24 REDOX: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 83
TABLE 25 REDOX: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 83
6.3 HYBRID 84
6.3.1 COMPACT SIZE AND DESIGN FLEXIBILITY OF HYBRID FLOW BATTERIES TO DRIVE SEGMENTAL LANDSCAPE 84
TABLE 26 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 84
TABLE 27 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 84
TABLE 28 HYBRID: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 85
TABLE 29 HYBRID: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 85
7 FLOW BATTERY MARKET, BY MATERIAL 86
7.1 INTRODUCTION 87
FIGURE 41 FLOW BATTERY MARKET, BY MATERIAL 87
FIGURE 42 VANADIUM MATERIAL TO ACCOUNT FOR LARGEST SHARE OF FLOW BATTERY MARKET IN 2028 87
TABLE 30 FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 87
TABLE 31 FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 88
7.2 VANADIUM 88
7.2.1 INCREASING FOCUS ON REDUCING CARBON FOOTPRINT TO FUEL ADOPTION OF VANADIUM FLOW BATTERIES 88
TABLE 32 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 88
TABLE 33 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 89

7.3 ZINC BROMINE 89
7.3.1 EASY AVAILABILITY AND COST-EFFECTIVENESS OF ZINC-BROMINE BATTERIES TO ACCELERATE SEGMENTAL GROWTH 89
TABLE 34 ZINC BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 89
TABLE 35 ZINC BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 90
7.4 OTHERS 90
TABLE 36 OTHERS: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 90
TABLE 37 OTHERS: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 91
8 FLOW BATTERY MARKET, BY OWNERSHIP 92
8.1 INTRODUCTION 92
FIGURE 43 FLOW BATTERY MARKET, BY OWNERSHIP 92
8.2 CUSTOMER-OWNED 92
8.2.1 INCREASING FOCUS ON OPTIMIZING ENERGY USAGE TO DRIVE ADOPTION OF FLOW BATTERIES 92
8.3 UTILITY-OWNED 93
8.3.1 RISING EMPHASIS ON ENHANCING GRID RELIABILITY TO FUEL DEMAND FOR FLOW BATTERIES 93
8.4 THIRD-PARTY-OWNED 93
8.4.1 NEED TO REDUCE UPFRONT COSTS AND RISKS TO BOOST ADOPTION OF THIRD-PARTY OWNERSHIP MODEL 93
9 FLOW BATTERY MARKET, BY STORAGE 94
9.1 INTRODUCTION 95
FIGURE 44 FLOW BATTERY MARKET, BY STORAGE 95
FIGURE 45 LARGE-SCALE SEGMENT TO DOMINATE FLOW BATTERY MARKET DURING FORECAST PERIOD 95
TABLE 38 FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 95
TABLE 39 FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 96
9.2 LARGE-SCALE 96
9.2.1 RISING DEMAND FOR LARGE-SCALE ENERGY STORAGE SOLUTIONS IN UTILITIES SECTOR TO SUPPORT SEGMENTAL GROWTH 96
TABLE 40 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 96
TABLE 41 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 97
TABLE 42 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 97
TABLE 43 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 97

9.3 SMALL-SCALE 97
9.3.1 INCREASING DEMAND FOR FLOW BATTERIES IN RESIDENTIAL APPLICATIONS TO DRIVE MARKET 97
TABLE 44 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 98
TABLE 45 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 98
TABLE 46 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 98
TABLE 47 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 99
10 FLOW BATTERY MARKET, BY APPLICATION 100
10.1 INTRODUCTION 101
FIGURE 46 FLOW BATTERY MARKET, BY APPLICATION 101
FIGURE 47 UTILITIES SEGMENT TO CAPTURE LARGEST SHARE OF FLOW BATTERY MARKET IN 2028 101
TABLE 48 FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 102
TABLE 49 FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 102
10.2 UTILITIES 102
10.2.1 INCREASING ADOPTION OF FLOW BATTERIES IN RENEWABLE ENERGY STORAGE SYSTEMS TO FUEL SEGMENTAL GROWTH 102
TABLE 50 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 103
TABLE 51 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 103
TABLE 52 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 103
TABLE 53 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 104
10.3 COMMERCIAL & INDUSTRIAL 104
10.3.1 INCREASING EMPHASIS ON IMPROVING POWER QUALITY IN COMMERCIAL AND INDUSTRIAL APPLICATIONS TO DRIVE MARKET 104
TABLE 54 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 105
TABLE 55 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 105
TABLE 56 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 105
TABLE 57 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 105
10.4 EV CHARGING STATIONS 106
10.4.1 GROWING FOCUS ON IMPLEMENTATION OF EV-CHARGING STATIONS TO SUPPORT MARKET 106
TABLE 58 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 106
TABLE 59 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 106

10.5 OTHER APPLICATIONS 107
TABLE 60 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 107
TABLE 61 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 107
TABLE 62 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 108
TABLE 63 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 108
11 FLOW BATTERY MARKET, BY REGION 109
11.1 INTRODUCTION 110
FIGURE 48 FLOW BATTERY MARKET, BY REGION 110
FIGURE 49 GEOGRAPHIC SNAPSHOT: FLOW BATTERY MARKET 111
TABLE 64 FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 111
TABLE 65 FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 111
11.2 NORTH AMERICA 112
11.2.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 112
FIGURE 50 SNAPSHOT: FLOW BATTERY MARKET IN NORTH AMERICA 113
FIGURE 51 US TO ACCOUNT FOR LARGEST SHARE THROUGHOUT FORECAST PERIOD 113
TABLE 66 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 114
TABLE 67 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 114
TABLE 68 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 114
TABLE 69 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 114
TABLE 70 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 115
TABLE 71 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 115
TABLE 72 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 115
TABLE 73 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 115
11.2.2 US 116
11.2.2.1 Government-led policies to boost decarbonization of multiple sectors 116
11.2.3 CANADA 116
11.2.3.1 Increased focus on integrating renewables to generate clean electricity to support flow battery growth 116
11.2.4 MEXICO 117
11.2.4.1 Government-led clean energy development projects to boost market growth 117

11.3 EUROPE 117
11.3.1 RECESSION IMPACT ON MARKET IN EUROPE 117
FIGURE 52 SNAPSHOT: FLOW BATTERY MARKET IN EUROPE 118
FIGURE 53 GERMANY TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 119
TABLE 74 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 119
TABLE 75 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 119
TABLE 76 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 120
TABLE 77 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 120
TABLE 78 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 120
TABLE 79 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 120
TABLE 80 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 121
TABLE 81 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 121
11.3.2 GERMANY 121
11.3.2.1 Rising focus on increasing clean energy production to foster market growth 121
11.3.3 UK 122
11.3.3.1 Growing use of flow batteries in commercial applications to drive market 122
11.3.4 FRANCE 122
11.3.4.1 Increasing focus on strengthening electric vehicle charging infrastructure to drive demand for flow batteries 122
11.3.5 REST OF EUROPE 122
11.4 ASIA PACIFIC 123
11.4.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 123
FIGURE 54 SNAPSHOT: FLOW BATTERY MARKET IN ASIA PACIFIC 124
FIGURE 55 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 125
TABLE 82 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 125
TABLE 83 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 125
TABLE 84 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 126
TABLE 85 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 126
TABLE 86 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 126
TABLE 87 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 126
TABLE 88 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 127
TABLE 89 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 127
11.4.2 CHINA 127
11.4.2.1 Rising implementation of large-scale energy storage systems to boost market growth 127
11.4.3 JAPAN 128
11.4.3.1 Increasing focus on grid modernization to drive demand for flow batteries 128
11.4.4 INDIA 128
11.4.4.1 Growing investment in modernizing power sector to drive demand for flow batteries 128
11.4.5 AUSTRALIA 129
11.4.5.1 Increasing investments by utilities in flow battery projects to fuel market growth 129
11.4.6 REST OF ASIA PACIFIC 129
11.5 REST OF THE WORLD (ROW) 130
11.5.1 RECESSION IMPACT ON MARKET IN REST OF THE WORLD (ROW) 130
FIGURE 56 MIDDLE EAST & AFRICA TO DOMINATE FLOW BATTERY MARKET IN ROW DURING FORECAST PERIOD 130
TABLE 90 ROW: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 131
TABLE 91 ROW: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 131
TABLE 92 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 131
TABLE 93 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 131
TABLE 94 ROW: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 131
TABLE 95 ROW: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 132
TABLE 96 ROW: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 132
TABLE 97 ROW: FLOW BATTERY MARKET BY APPLICATION, 2023–2028 (USD MILLION) 132
11.5.2 MIDDLE EAST & AFRICA 133
11.5.2.1 Increasing focus of battery manufacturers on expanding production capacity to drive market 133
11.5.3 SOUTH AMERICA 133
11.5.3.1 Increasing foreign investments to boost market growth 133
12 COMPETITIVE LANDSCAPE 134
12.1 INTRODUCTION 134
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 134
TABLE 98 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 134
12.3 REVENUE ANALYSIS OF TOP 5 COMPANIES 136
FIGURE 57 FLOW BATTERY MARKET: REVENUE ANALYSIS OF 5 KEY PLAYERS, 2018–2022 136
12.4 MARKET SHARE ANALYSIS, 2022 136
TABLE 99 FLOW BATTERY MARKET DEGREE OF COMPETITION, 2022 137
FIGURE 58 SHARE OF KEY PLAYERS IN FLOW BATTERY MARKET, 2022 137
12.5 EVALUATION MATRIX FOR KEY COMPANIES, 2022 139
12.5.1 STARS 139
12.5.2 EMERGING LEADERS 139
12.5.3 PERVASIVE PLAYERS 139
12.5.4 PARTICIPANTS 139
FIGURE 59 FLOW BATTERY MARKET: EVALUATION MATRIX FOR KEY COMPANIES, 2022 140
12.6 EVALUATION MATRIX FOR SMES, 2022 140
12.6.1 PROGRESSIVE COMPANIES 140
12.6.2 RESPONSIVE COMPANIES 140
12.6.3 DYNAMIC COMPANIES 141
12.6.4 STARTING BLOCKS 141
FIGURE 60 FLOW BATTERY MARKET: EVALUATION MATRIX FOR SMES, 2022 141
12.7 FLOW BATTERY MARKET: COMPANY FOOTPRINT 142
TABLE 100 COMPANY FOOTPRINT 142
TABLE 101 APPLICATION: COMPANY FOOTPRINT 143
TABLE 102 REGIONAL: COMPANY FOOTPRINT 144
12.8 COMPETITIVE BENCHMARKING 145
TABLE 103 FLOW BATTERY MARKET: DETAILED LIST OF KEY STARTUPS/SMES 145
TABLE 104 FLOW BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 145
12.9 COMPETITIVE SCENARIOS AND TRENDS 146
12.9.1 FLOW BATTERY MARKET: PRODUCT LAUNCHES 146
12.9.2 FLOW BATTERY MARKET: DEALS 146
13 COMPANY PROFILES 154
(Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 KEY PLAYERS 154
13.1.1 SUMITOMO ELECTRIC INDUSTRIES, LTD. 154
TABLE 105 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY OVERVIEW 154
FIGURE 61 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT 155
TABLE 106 SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 155
TABLE 107 SUMITOMO ELECTRIC INDUSTRIES, LTD.: DEALS 156
TABLE 108 SUMITOMO ELECTRIC INDUSTRIES, LTD.: OTHERS 156
13.1.2 INVINITY ENERGY SYSTEMS 158
TABLE 109 INVINITY ENERGY SYSTEMS: COMPANY OVERVIEW 158
FIGURE 62 INVINITY ENERGY SYSTEMS: COMPANY SNAPSHOT 159
TABLE 110 INVINITY ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 159
TABLE 111 INVINITY ENERGY SYSTEMS: DEALS 160
13.1.3 ENEROX GMBH 163
TABLE 112 ENEROX GMBH: COMPANY OVERVIEW 163
TABLE 113 ENEROX GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 163
TABLE 114 ENEROX GMBH: DEALS 164
TABLE 115 ENEROX GMBH: OTHERS 164
13.1.4 REDFLOW LIMITED 166
TABLE 116 REDFLOW LIMITED: COMPANY OVERVIEW 166
FIGURE 63 REDFLOW LIMITED: COMPANY SNAPSHOT 166
TABLE 117 REDFLOW LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED 167
TABLE 118 REDFLOW LIMITED: DEALS 167
13.1.5 VRB ENERGY 170
TABLE 119 VRB ENERGY: COMPANY OVERVIEW 170
TABLE 120 VRB ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 171
TABLE 121 VRB ENERGY: DEALS 171
13.1.6 ELESTOR BV 173
TABLE 122 ELESTOR BV: COMPANY OVERVIEW 173
TABLE 123 ELESTOR BV: PRODUCTS/SERVICES/SOLUTIONS OFFERED 173
13.1.7 ESS INC. 174
TABLE 124 ESS INC.: COMPANY OVERVIEW 174
TABLE 125 ESS INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 174
TABLE 126 ESS INC.: PRODUCT LAUNCHES 175
TABLE 127 ESS INC.: DEALS 175
13.1.8 JENABATTERIES GMBH 177
TABLE 128 JENABATTERIES GMBH: COMPANY OVERVIEW 177
TABLE 129 JENABATTERIES GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 177
TABLE 130 JENABATTERIES GMBH: OTHERS 177
13.1.9 LARGO INC. 178
TABLE 131 LARGO INC.: COMPANY OVERVIEW 178
FIGURE 64 LARGO INC.: COMPANY SNAPSHOT 179
TABLE 132 LARGO INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 179
13.1.10 LOCKHEED MARTIN CORPORATION 180
TABLE 133 LOCKHEED MARTIN CORPORATION: COMPANY OVERVIEW 180
FIGURE 65 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT 181
TABLE 134 LOCKHEED MARTIN CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 181
TABLE 135 LOCKHEED MARTIN CORPORATION: DEALS 182
13.1.11 PRIMUS POWER SOLUTIONS 183
TABLE 136 PRIMUS POWER SOLUTIONS: COMPANY OVERVIEW 183
TABLE 137 PRIMUS POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 183
13.1.12 SCHMID GROUP 184
TABLE 138 SCHMID GROUP: COMPANY OVERVIEW 184
TABLE 139 SCHMID GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED 184
13.1.13 STRYTEN ENERGY 185
TABLE 140 STRYTEN ENERGY: COMPANY OVERVIEW 185
TABLE 141 STRYTEN ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 185
13.1.14 VIZN ENERGY SYSTEMS 186
TABLE 142 VIZN ENERGY SYSTEMS: COMPANY OVERVIEW 186
TABLE 143 VIZN ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 186
13.2 OTHER PLAYERS 188
13.2.1 DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO., LTD. 188
13.2.2 H2, INC. 189
13.2.3 KEMIWATT 190
13.2.4 LE SYSTEM CO., LTD. 190
13.2.5 NANOFLOWCELL HOLDINGS PLC 191
13.2.6 STOREN TECHNOLOGIES 192
13.2.7 VANADIS POWER GMBH 193
13.2.8 VFLOWTECH PTE LTD. 194
13.2.9 VISBLUE A/S 195
13.2.10 VOLTERION DORTMUND 195
13.2.11 VOLTSTORAGE GMBH 196
13.2.12 VSUN ENERGY PTY LTD. 197
*Details on Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 ADJACENT AND RELATED MARKETS 198
14.1 INTRODUCTION 198
14.2 NICKEL CADMIUM BATTERY MARKET, BY REGION 198
14.2.1 INTRODUCTION 198
TABLE 144 NICKEL-CADMIUM BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION) 198
TABLE 145 NICKEL-CADMIUM BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION) 199
14.2.2 NORTH AMERICA 199
TABLE 146 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 199
TABLE 147 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 199
TABLE 148 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY END USER, 2018–2021 (USD MILLION) 200
TABLE 149 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY END USER, 2022–2027 (USD MILLION) 200
14.2.2.1 US 201
14.2.2.1.1 Rising adoption of Ni-Cd batteries in power grids for emergency backup to drive market 201
14.2.2.2 Canada 201
14.2.2.2.1 Increasing aircraft manufacturing activities to accelrate market growth 201
14.2.2.3 Mexico 202
14.2.2.3.1 Growing demand for energy storage to foster market growth 202

15 APPENDIX 203
15.1 INSIGHTS FROM INDUSTRY EXPERTS 203
15.2 DISCUSSION GUIDE 203
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 207
15.4 CUSTOMIZATION OPTIONS 209
15.5 RELATED REPORTS 209
15.6 AUTHOR DETAILS 210

 

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Summary

The global flow battery market size is expected to grow from USD 289 million in 2023 to USD 805 million by 2028, at a CAGR of 22.8 % from 2023 to 2028. The flow battery market’s growth can be attributed to the increasing investments in renewable energy and the benefits provided by the flow batteries over conventional ones, which are fueling their adoption in various applications.
" Hybrid flow battery segment is projected to grow at significant CAGR during the forecast period"
Hybrid flow batteries have an additional advantage over standard flow battery designs. The zinc bromine hybrid battery offers higher energy density than other flow batteries. Also, many manufacturers are adopting hybrid designs for their flow batteries due to the high extraction cost of vanadium material. In recent years, several research programs have been conducted in several countries to explore the potential of hybrid flow batteries and also to build more compact and cheaper systems. Also, in the past few years, some players in the market have commercialized their hybrid batteries for various applications such as utilities, commercial, residential, and others.

"Utilities application is expected to hold the largest share during the forecast period"
With the growing need for higher energy capacity, the need for grid modernization has become essential worldwide. Improved security, reduced peak loads, increased integration of renewables, and lower operational costs are advantages of a modern grid system. Over the years, reliable energy and clean systems have become necessary worldwide. The increasing penetration of renewable energy across the power industry has, in turn, increased the need for efficient, flexible, and long-operating energy storage solutions. With all its attractive features, a flow battery has become the most preferred energy storage technology for utility-based storage, as large-scale utilities require technologies that can cost-effectively store renewable energy for future grid use at any location. Among all the applications, vanadium-based redox flow batteries are the most widely commercialized in the utility sector. The utility sector also holds the highest number of operational flow battery projects globally.

"The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period"
Asia Pacific is expected to grow at the highest rate during the forecast period. Countries such as China, Japan, India, and Australia are striving to boost their large-scale energy storage capacity through adoption of advanced battery technologies that could, in turn, enhance electric stability. The governments of countries like Australia, India, China, and Japan have introduced regulations and reforms and are making initiatives to modernize the power sector. Asia Pacific has a large number of operational flow battery installations with high power ratings. Australia has a large number of flow battery projects for utilities, residential, industrial, and commercial applications. Sumitomo Electric Industries Ltd. (Japan) and Redflow Limited (Australia) are the major industry participants in the Asia Pacific flow battery market.
Breakdown of the profiles of primary participants:
• By Company Type: Tier 1 - 25%, Tier 2 - 30%, and Tier 3 - 45%
• By Designation: C-level Executives - 35%, Directors - 25%, and Others - 40%
• By Region: North America - 35%, Europe - 25%, Asia Pacific - 32%, and RoW – 8%
Major players profiled in this report are as follows: Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Invinity Energy Systems (UK), Largo Inc. (Canada), Enerox GmbH (Austria), Redflow Limited (Australia), Stryten Energy (US), ViZn Energy Systems (US), Lockheed Martin Corporation (US), Jenabatteries GmbH (Germany), SCHMID Group (Germany), Elestor BV (The Netherlands), Primus Power Solutions (US), ESS Inc. (US) and others.
Research Coverage
The flow battery market has been classified by battery type, material, ownership, storage, application, and region. The market has been segmented into redox flow batteries and hybrid flow batteries, by type. Materials have segmented the market into vanadium, zinc-bromine, and others. By ownership, the market has been segmented into customer owned, third-party owned and utility owned. By storage, the segmentation is based on small-scale and large-scale storage. Furthermore, the market application segments include utilities, commercial & industrial, EV charging stations, and other applications. The study also forecasts the market size in four key regions—North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report provides insights on the following pointers:
Analysis of key drivers (Benefits of flow batteries over conventional technologies, Increasing investments in renewable energy, High demand for flow batteries in utilities, Surge in telecommunications tower installations), restraints (Requirement of high initial investment, Lack of proper standards for development of flow battery systems), opportunities (Growing demand for backup power in data centers, Growing adoption in residential applications, Increasing R&D practices to improve redox battery technology), and challenges (Presence of affordable alternative energy storage technologies) influencing the growth of the flow battery market
Product Development/Innovation: Detailed insights on upcoming products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the flow battery market
Market Development: Comprehensive information about lucrative markets – the report analyses the flow battery market across regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the flow battery market
Competitive Assessment: In-depth assessment of market ranks, growth strategies, and product offerings of leading players like Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Invinity Energy Systems (UK), Largo Inc. (Canada), Enerox GmbH (Austria), Redflow Limited (Australia), among others in the flow battery market
Strategies: The report also helps stakeholders understand the pulse of the flow battery market and provides information on key market drivers, restraints, challenges, and opportunities.



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Table of Contents

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 27
1.3 STUDY SCOPE 28
1.3.1 MARKETS COVERED 28
FIGURE 1 FLOW BATTERY MARKET SEGMENTATION 28
1.3.2 INCLUSIONS AND EXCLUSIONS 28
1.3.3 GEOGRAPHICAL SCOPE 29
FIGURE 2 FLOW BATTERY MARKET: REGIONS COVERED 29
1.3.4 YEARS CONSIDERED 29
1.4 CURRENCY CONSIDERED 30
1.5 LIMITATIONS 30
1.6 STAKEHOLDERS 30
1.7 SUMMARY OF CHANGES 31
1.8 RECESSION IMPACT 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH APPROACH 32
FIGURE 3 FLOW BATTERY MARKET: RESEARCH DESIGN 32
2.1.1 SECONDARY AND PRIMARY RESEARCH 33
FIGURE 4 FLOW BATTERY MARKET: RESEARCH APPROACH 33
2.1.2 SECONDARY DATA 34
2.1.2.1 List of major secondary sources 34
2.1.2.2 Key data from secondary sources 35
2.1.3 PRIMARY DATA 35
2.1.3.1 Primary interviews with experts 36
2.1.3.2 Key data from primary sources 36
2.1.3.3 Key industry insights 37
2.1.3.4 Breakdown of primaries 37
2.2 MARKET SIZE ESTIMATION 37
2.2.1 BOTTOM-UP APPROACH 38
2.2.1.1 Approach to arrive at market size using bottom-up analysis 38
FIGURE 5 FLOW BATTERY MARKET: BOTTOM-UP APPROACH 38
2.2.2 TOP-DOWN APPROACH 39
2.2.2.1 Approach to arrive at market size using top-down analysis 39
FIGURE 6 FLOW BATTERY MARKET: TOP-DOWN APPROACH 39
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR FLOW BATTERY MARKET: SUPPLY-SIDE ANALYSIS 40

2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 41
FIGURE 8 DATA TRIANGULATION 41
2.4 RESEARCH ASSUMPTIONS 42
FIGURE 9 ASSUMPTIONS 42
2.5 PARAMETERS CONSIDERED TO UNDERSTAND RECESSION IMPACT ON FLOW BATTERY MARKET 43
2.6 RISK ASSESSMENT 43
TABLE 1 RISK ASSESSMENT 43
3 EXECUTIVE SUMMARY 44
FIGURE 10 FLOW BATTERY MARKET SIZE, 2019–2028 (USD MILLION) 44
FIGURE 11 REDOX FLOW BATTERIES TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 45
FIGURE 12 VANADIUM SEGMENT TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET, BY MATERIAL, DURING FORECAST PERIOD 45
FIGURE 13 LARGE-SCALE FLOW BATTERIES TO DOMINATE MARKET FROM 2023 TO 2028 46
FIGURE 14 UTILITIES SEGMENT TO LEAD FLOW BATTERY MARKET, BY APPLICATION, THROUGHOUT FORECAST PERIOD 46
FIGURE 15 NORTH AMERICA HELD LARGEST SHARE OF FLOW BATTERY MARKET IN 2022 47
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FLOW BATTERY MARKET 48
FIGURE 16 GROWING ADOPTION OF FLOW BATTERIES IN UTILITIES APPLICATIONS TO DRIVE MARKET FROM 2023 TO 2028 48
4.2 FLOW BATTERY MARKET, BY BATTERY TYPE 48
FIGURE 17 REDOX BATTERY TYPE TO LEAD FLOW BATTERY MARKET DURING FORECAST PERIOD 48
4.3 FLOW BATTERY MARKET, BY APPLICATION 49
FIGURE 18 UTILITIES APPLICATION TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD 49
4.4 FLOW BATTERY MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY, 2028 49
FIGURE 19 UTILITIES APPLICATION AND US TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET IN NORTH AMERICA BY 2028 49
4.5 FLOW BATTERY MARKET, BY COUNTRY 50
FIGURE 20 FLOW BATTERY MARKET IN CHINA EXPECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
FIGURE 21 FLOW BATTERY MARKET DYNAMICS 51
5.2.1 DRIVERS 52
5.2.1.1 Growing preference for flow batteries over conventional batteries 52
5.2.1.2 Government-led investments in developing renewable energy storage systems 52
FIGURE 22 GLOBAL INVESTMENTS IN RENEWABLE ENERGY, 2019–2023 (USD BILLION) 53
5.2.1.3 High adoption of flow batteries in utilities sector 53
5.2.1.4 Increasing installations of telecom towers 54
FIGURE 23 IMPACT OF DRIVERS ON GLOBAL FLOW BATTERY MARKET 54
5.2.2 RESTRAINTS 55
5.2.2.1 Need for substantial upfront investment 55
5.2.2.2 Lack of calibration standards 55
FIGURE 24 IMPACT OF RESTRAINTS ON GLOBAL FLOW BATTERY MARKET 55
5.2.3 OPPORTUNITIES 56
5.2.3.1 Increasing importance of backup power systems in data centers 56
5.2.3.2 Rising adoption of flow batteries in residential applications 56
5.2.3.3 Increasing focus on grid modernization 56
5.2.3.4 Rising focus on developing efficient and sustainable batteries 57
FIGURE 25 IMPACT OF OPPORTUNITIES ON GLOBAL FLOW BATTERY MARKET 57
5.2.4 CHALLENGES 57
5.2.4.1 Presence of affordable alternative battery technologies 57
FIGURE 26 IMPACT OF CHALLENGES ON GLOBAL FLOW BATTERY MARKET 58
5.3 VALUE CHAIN ANALYSIS 58
FIGURE 27 FLOW BATTERY MARKET: VALUE CHAIN ANALYSIS 58
5.4 ECOSYSTEM MAPPING 60
FIGURE 28 GLOBAL FLOW BATTERY MARKET: ECOSYSTEM 60
TABLE 2 FLOW BATTERY MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 61
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 62
FIGURE 29 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN FLOW BATTERY MARKET 62
5.6 PORTER’S FIVE FORCES ANALYSIS 62
TABLE 3 FLOW BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS 62
FIGURE 30 FLOW BATTERY MARKET: PORTERS FIVE FORCES ANALYSIS 63
5.6.1 BARGAINING POWER OF SUPPLIERS 63
5.6.2 BARGAINING POWER OF BUYERS 63
5.6.3 THREAT OF NEW ENTRANTS 63
5.6.4 THREAT OF SUBSTITUTES 64
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 64
5.7 CASE STUDY ANALYSIS 64
TABLE 4 OPTUS TELECOMMUNICATIONS REDUCED GENERATOR OPERATING TIME USING FLOW BATTERIES 64
TABLE 5 SANDBAR SOLAR PARTNERED WITH INVINITY ENERGY AND AGETO ENERGY TO DEVELOP VANADIUM FLOW BATTERY AND MICROGRID SOLUTIONS 65
TABLE 6 VODAFONE NEW ZEALAND USED FLOW BATTERIES TO PROVIDE OFF-GRID POWER IN REMOTE LOCATION 65
5.8 TECHNOLOGY TRENDS 66
5.8.1 SODIUM-SULFUR BATTERIES 66
5.8.2 COBALT-FREE BATTERIES 66
5.8.3 POTASSIUM-METAL BATTERIES 66
5.8.4 SOLID-STATE BATTERIES 66
5.8.5 METAL-AIR BATTERIES 67
5.8.6 LIQUID-METAL BATTERIES 67
5.8.7 LITHIUM-SILICON BATTERIES 67
5.8.8 LITHIUM-SULFUR BATTERIES 67
5.9 PRICING ANALYSIS 67
FIGURE 31 AVERAGE SELLING PRICE TREND OF FLOW BATTERY, 2022–2028 68
5.9.1 AVERAGE SELLING PRICE TREND, BY BATTERY TYPE 68
TABLE 7 AVERAGE SELLING PRICE OF FLOW BATTERIES, BY BATTERY TYPE 68
5.9.2 AVERAGE SELLING PRICE TREND, BY KEY PLAYER 69
FIGURE 32 AVERAGE SELLING PRICE OF FLOW BATTERIES OFFERED BY KEY PLAYERS 69
TABLE 8 AVERAGE SELLING PRICE OF FLOW BATTERIES OFFERED BY KEY PLAYERS 69
5.9.3 AVERAGE SELLING PRICE TREND, BY REGION 69
TABLE 9 AVERAGE SELLING PRICE OF FLOW BATTERIES, BY REGION 69
5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 70
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS 70
FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 70
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 70
5.10.2 BUYING CRITERIA 70
FIGURE 34 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 70
TABLE 11 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 71
5.11 TRADE ANALYSIS 71
FIGURE 35 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8112, BY KEY COUNTRIES, 2018–2022 (USD MILLION) 71
FIGURE 36 EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8112, BY KEY COUNTRIES, 2018–2022 (USD MILLION) 72
5.12 PATENT ANALYSIS 72
FIGURE 37 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 72
TABLE 12 US: TOP 20 PATENT OWNERS IN LAST 10 YEARS 73
FIGURE 38 NUMBER OF PATENTS GRANTED PER YEAR FROM 2013 TO 2022 74
TABLE 13 FLOW BATTERY MARKET: LIST OF PATENTS, 2022–2023 74
5.13 KEY CONFERENCES AND EVENTS, 2023–2024 75
TABLE 14 FLOW BATTERY MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 75
5.14 TARIFFS AND REGULATORY LANDSCAPE 76
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 15 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 16 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 17 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 18 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
5.14.2 REGULATORY STANDARDS 78
TABLE 19 FLOW BATTERY MARKET: STANDARDS 78
6 FLOW BATTERY MARKET, BY BATTERY TYPE 80
6.1 INTRODUCTION 81
FIGURE 39 FLOW BATTERY MARKET, BY BATTERY TYPE 81
FIGURE 40 REDOX TO HOLD DOMINANT SHARE OF FLOW BATTERY MARKET THROUGHOUT FORECAST PERIOD 81
TABLE 20 FLOW BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION) 82
TABLE 21 FLOW BATTERY MARKET, BY TYPE, 2023–2028 (USD MILLION) 82
6.2 REDOX 82
6.2.1 GROWING ADOPTION OF REDOX FLOW BATTERIES IN LARGE-SCALE ENERGY STORAGE APPLICATIONS TO BOOST SEGMENTAL GROWTH 82
TABLE 22 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 83
TABLE 23 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 83
TABLE 24 REDOX: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 83
TABLE 25 REDOX: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 83
6.3 HYBRID 84
6.3.1 COMPACT SIZE AND DESIGN FLEXIBILITY OF HYBRID FLOW BATTERIES TO DRIVE SEGMENTAL LANDSCAPE 84
TABLE 26 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 84
TABLE 27 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 84
TABLE 28 HYBRID: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 85
TABLE 29 HYBRID: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 85
7 FLOW BATTERY MARKET, BY MATERIAL 86
7.1 INTRODUCTION 87
FIGURE 41 FLOW BATTERY MARKET, BY MATERIAL 87
FIGURE 42 VANADIUM MATERIAL TO ACCOUNT FOR LARGEST SHARE OF FLOW BATTERY MARKET IN 2028 87
TABLE 30 FLOW BATTERY MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 87
TABLE 31 FLOW BATTERY MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 88
7.2 VANADIUM 88
7.2.1 INCREASING FOCUS ON REDUCING CARBON FOOTPRINT TO FUEL ADOPTION OF VANADIUM FLOW BATTERIES 88
TABLE 32 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 88
TABLE 33 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 89

7.3 ZINC BROMINE 89
7.3.1 EASY AVAILABILITY AND COST-EFFECTIVENESS OF ZINC-BROMINE BATTERIES TO ACCELERATE SEGMENTAL GROWTH 89
TABLE 34 ZINC BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 89
TABLE 35 ZINC BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 90
7.4 OTHERS 90
TABLE 36 OTHERS: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 90
TABLE 37 OTHERS: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 91
8 FLOW BATTERY MARKET, BY OWNERSHIP 92
8.1 INTRODUCTION 92
FIGURE 43 FLOW BATTERY MARKET, BY OWNERSHIP 92
8.2 CUSTOMER-OWNED 92
8.2.1 INCREASING FOCUS ON OPTIMIZING ENERGY USAGE TO DRIVE ADOPTION OF FLOW BATTERIES 92
8.3 UTILITY-OWNED 93
8.3.1 RISING EMPHASIS ON ENHANCING GRID RELIABILITY TO FUEL DEMAND FOR FLOW BATTERIES 93
8.4 THIRD-PARTY-OWNED 93
8.4.1 NEED TO REDUCE UPFRONT COSTS AND RISKS TO BOOST ADOPTION OF THIRD-PARTY OWNERSHIP MODEL 93
9 FLOW BATTERY MARKET, BY STORAGE 94
9.1 INTRODUCTION 95
FIGURE 44 FLOW BATTERY MARKET, BY STORAGE 95
FIGURE 45 LARGE-SCALE SEGMENT TO DOMINATE FLOW BATTERY MARKET DURING FORECAST PERIOD 95
TABLE 38 FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 95
TABLE 39 FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 96
9.2 LARGE-SCALE 96
9.2.1 RISING DEMAND FOR LARGE-SCALE ENERGY STORAGE SOLUTIONS IN UTILITIES SECTOR TO SUPPORT SEGMENTAL GROWTH 96
TABLE 40 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 96
TABLE 41 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 97
TABLE 42 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 97
TABLE 43 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 97

9.3 SMALL-SCALE 97
9.3.1 INCREASING DEMAND FOR FLOW BATTERIES IN RESIDENTIAL APPLICATIONS TO DRIVE MARKET 97
TABLE 44 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 98
TABLE 45 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 98
TABLE 46 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 98
TABLE 47 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 99
10 FLOW BATTERY MARKET, BY APPLICATION 100
10.1 INTRODUCTION 101
FIGURE 46 FLOW BATTERY MARKET, BY APPLICATION 101
FIGURE 47 UTILITIES SEGMENT TO CAPTURE LARGEST SHARE OF FLOW BATTERY MARKET IN 2028 101
TABLE 48 FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 102
TABLE 49 FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 102
10.2 UTILITIES 102
10.2.1 INCREASING ADOPTION OF FLOW BATTERIES IN RENEWABLE ENERGY STORAGE SYSTEMS TO FUEL SEGMENTAL GROWTH 102
TABLE 50 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 103
TABLE 51 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 103
TABLE 52 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 103
TABLE 53 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 104
10.3 COMMERCIAL & INDUSTRIAL 104
10.3.1 INCREASING EMPHASIS ON IMPROVING POWER QUALITY IN COMMERCIAL AND INDUSTRIAL APPLICATIONS TO DRIVE MARKET 104
TABLE 54 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 105
TABLE 55 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 105
TABLE 56 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 105
TABLE 57 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 105
10.4 EV CHARGING STATIONS 106
10.4.1 GROWING FOCUS ON IMPLEMENTATION OF EV-CHARGING STATIONS TO SUPPORT MARKET 106
TABLE 58 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 106
TABLE 59 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 106

10.5 OTHER APPLICATIONS 107
TABLE 60 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 107
TABLE 61 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 107
TABLE 62 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 108
TABLE 63 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 108
11 FLOW BATTERY MARKET, BY REGION 109
11.1 INTRODUCTION 110
FIGURE 48 FLOW BATTERY MARKET, BY REGION 110
FIGURE 49 GEOGRAPHIC SNAPSHOT: FLOW BATTERY MARKET 111
TABLE 64 FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 111
TABLE 65 FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 111
11.2 NORTH AMERICA 112
11.2.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 112
FIGURE 50 SNAPSHOT: FLOW BATTERY MARKET IN NORTH AMERICA 113
FIGURE 51 US TO ACCOUNT FOR LARGEST SHARE THROUGHOUT FORECAST PERIOD 113
TABLE 66 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 114
TABLE 67 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 114
TABLE 68 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 114
TABLE 69 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 114
TABLE 70 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 115
TABLE 71 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 115
TABLE 72 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 115
TABLE 73 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 115
11.2.2 US 116
11.2.2.1 Government-led policies to boost decarbonization of multiple sectors 116
11.2.3 CANADA 116
11.2.3.1 Increased focus on integrating renewables to generate clean electricity to support flow battery growth 116
11.2.4 MEXICO 117
11.2.4.1 Government-led clean energy development projects to boost market growth 117

11.3 EUROPE 117
11.3.1 RECESSION IMPACT ON MARKET IN EUROPE 117
FIGURE 52 SNAPSHOT: FLOW BATTERY MARKET IN EUROPE 118
FIGURE 53 GERMANY TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 119
TABLE 74 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 119
TABLE 75 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 119
TABLE 76 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 120
TABLE 77 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 120
TABLE 78 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 120
TABLE 79 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 120
TABLE 80 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 121
TABLE 81 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 121
11.3.2 GERMANY 121
11.3.2.1 Rising focus on increasing clean energy production to foster market growth 121
11.3.3 UK 122
11.3.3.1 Growing use of flow batteries in commercial applications to drive market 122
11.3.4 FRANCE 122
11.3.4.1 Increasing focus on strengthening electric vehicle charging infrastructure to drive demand for flow batteries 122
11.3.5 REST OF EUROPE 122
11.4 ASIA PACIFIC 123
11.4.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 123
FIGURE 54 SNAPSHOT: FLOW BATTERY MARKET IN ASIA PACIFIC 124
FIGURE 55 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 125
TABLE 82 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 125
TABLE 83 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 125
TABLE 84 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 126
TABLE 85 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 126
TABLE 86 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 126
TABLE 87 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 126
TABLE 88 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 127
TABLE 89 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 127
11.4.2 CHINA 127
11.4.2.1 Rising implementation of large-scale energy storage systems to boost market growth 127
11.4.3 JAPAN 128
11.4.3.1 Increasing focus on grid modernization to drive demand for flow batteries 128
11.4.4 INDIA 128
11.4.4.1 Growing investment in modernizing power sector to drive demand for flow batteries 128
11.4.5 AUSTRALIA 129
11.4.5.1 Increasing investments by utilities in flow battery projects to fuel market growth 129
11.4.6 REST OF ASIA PACIFIC 129
11.5 REST OF THE WORLD (ROW) 130
11.5.1 RECESSION IMPACT ON MARKET IN REST OF THE WORLD (ROW) 130
FIGURE 56 MIDDLE EAST & AFRICA TO DOMINATE FLOW BATTERY MARKET IN ROW DURING FORECAST PERIOD 130
TABLE 90 ROW: FLOW BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION) 131
TABLE 91 ROW: FLOW BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION) 131
TABLE 92 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION) 131
TABLE 93 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION) 131
TABLE 94 ROW: FLOW BATTERY MARKET, BY STORAGE, 2019–2022 (USD MILLION) 131
TABLE 95 ROW: FLOW BATTERY MARKET, BY STORAGE, 2023–2028 (USD MILLION) 132
TABLE 96 ROW: FLOW BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 132
TABLE 97 ROW: FLOW BATTERY MARKET BY APPLICATION, 2023–2028 (USD MILLION) 132
11.5.2 MIDDLE EAST & AFRICA 133
11.5.2.1 Increasing focus of battery manufacturers on expanding production capacity to drive market 133
11.5.3 SOUTH AMERICA 133
11.5.3.1 Increasing foreign investments to boost market growth 133
12 COMPETITIVE LANDSCAPE 134
12.1 INTRODUCTION 134
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 134
TABLE 98 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 134
12.3 REVENUE ANALYSIS OF TOP 5 COMPANIES 136
FIGURE 57 FLOW BATTERY MARKET: REVENUE ANALYSIS OF 5 KEY PLAYERS, 2018–2022 136
12.4 MARKET SHARE ANALYSIS, 2022 136
TABLE 99 FLOW BATTERY MARKET DEGREE OF COMPETITION, 2022 137
FIGURE 58 SHARE OF KEY PLAYERS IN FLOW BATTERY MARKET, 2022 137
12.5 EVALUATION MATRIX FOR KEY COMPANIES, 2022 139
12.5.1 STARS 139
12.5.2 EMERGING LEADERS 139
12.5.3 PERVASIVE PLAYERS 139
12.5.4 PARTICIPANTS 139
FIGURE 59 FLOW BATTERY MARKET: EVALUATION MATRIX FOR KEY COMPANIES, 2022 140
12.6 EVALUATION MATRIX FOR SMES, 2022 140
12.6.1 PROGRESSIVE COMPANIES 140
12.6.2 RESPONSIVE COMPANIES 140
12.6.3 DYNAMIC COMPANIES 141
12.6.4 STARTING BLOCKS 141
FIGURE 60 FLOW BATTERY MARKET: EVALUATION MATRIX FOR SMES, 2022 141
12.7 FLOW BATTERY MARKET: COMPANY FOOTPRINT 142
TABLE 100 COMPANY FOOTPRINT 142
TABLE 101 APPLICATION: COMPANY FOOTPRINT 143
TABLE 102 REGIONAL: COMPANY FOOTPRINT 144
12.8 COMPETITIVE BENCHMARKING 145
TABLE 103 FLOW BATTERY MARKET: DETAILED LIST OF KEY STARTUPS/SMES 145
TABLE 104 FLOW BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 145
12.9 COMPETITIVE SCENARIOS AND TRENDS 146
12.9.1 FLOW BATTERY MARKET: PRODUCT LAUNCHES 146
12.9.2 FLOW BATTERY MARKET: DEALS 146
13 COMPANY PROFILES 154
(Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 KEY PLAYERS 154
13.1.1 SUMITOMO ELECTRIC INDUSTRIES, LTD. 154
TABLE 105 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY OVERVIEW 154
FIGURE 61 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT 155
TABLE 106 SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 155
TABLE 107 SUMITOMO ELECTRIC INDUSTRIES, LTD.: DEALS 156
TABLE 108 SUMITOMO ELECTRIC INDUSTRIES, LTD.: OTHERS 156
13.1.2 INVINITY ENERGY SYSTEMS 158
TABLE 109 INVINITY ENERGY SYSTEMS: COMPANY OVERVIEW 158
FIGURE 62 INVINITY ENERGY SYSTEMS: COMPANY SNAPSHOT 159
TABLE 110 INVINITY ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 159
TABLE 111 INVINITY ENERGY SYSTEMS: DEALS 160
13.1.3 ENEROX GMBH 163
TABLE 112 ENEROX GMBH: COMPANY OVERVIEW 163
TABLE 113 ENEROX GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 163
TABLE 114 ENEROX GMBH: DEALS 164
TABLE 115 ENEROX GMBH: OTHERS 164
13.1.4 REDFLOW LIMITED 166
TABLE 116 REDFLOW LIMITED: COMPANY OVERVIEW 166
FIGURE 63 REDFLOW LIMITED: COMPANY SNAPSHOT 166
TABLE 117 REDFLOW LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED 167
TABLE 118 REDFLOW LIMITED: DEALS 167
13.1.5 VRB ENERGY 170
TABLE 119 VRB ENERGY: COMPANY OVERVIEW 170
TABLE 120 VRB ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 171
TABLE 121 VRB ENERGY: DEALS 171
13.1.6 ELESTOR BV 173
TABLE 122 ELESTOR BV: COMPANY OVERVIEW 173
TABLE 123 ELESTOR BV: PRODUCTS/SERVICES/SOLUTIONS OFFERED 173
13.1.7 ESS INC. 174
TABLE 124 ESS INC.: COMPANY OVERVIEW 174
TABLE 125 ESS INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 174
TABLE 126 ESS INC.: PRODUCT LAUNCHES 175
TABLE 127 ESS INC.: DEALS 175
13.1.8 JENABATTERIES GMBH 177
TABLE 128 JENABATTERIES GMBH: COMPANY OVERVIEW 177
TABLE 129 JENABATTERIES GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 177
TABLE 130 JENABATTERIES GMBH: OTHERS 177
13.1.9 LARGO INC. 178
TABLE 131 LARGO INC.: COMPANY OVERVIEW 178
FIGURE 64 LARGO INC.: COMPANY SNAPSHOT 179
TABLE 132 LARGO INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 179
13.1.10 LOCKHEED MARTIN CORPORATION 180
TABLE 133 LOCKHEED MARTIN CORPORATION: COMPANY OVERVIEW 180
FIGURE 65 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT 181
TABLE 134 LOCKHEED MARTIN CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 181
TABLE 135 LOCKHEED MARTIN CORPORATION: DEALS 182
13.1.11 PRIMUS POWER SOLUTIONS 183
TABLE 136 PRIMUS POWER SOLUTIONS: COMPANY OVERVIEW 183
TABLE 137 PRIMUS POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 183
13.1.12 SCHMID GROUP 184
TABLE 138 SCHMID GROUP: COMPANY OVERVIEW 184
TABLE 139 SCHMID GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED 184
13.1.13 STRYTEN ENERGY 185
TABLE 140 STRYTEN ENERGY: COMPANY OVERVIEW 185
TABLE 141 STRYTEN ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 185
13.1.14 VIZN ENERGY SYSTEMS 186
TABLE 142 VIZN ENERGY SYSTEMS: COMPANY OVERVIEW 186
TABLE 143 VIZN ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 186
13.2 OTHER PLAYERS 188
13.2.1 DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO., LTD. 188
13.2.2 H2, INC. 189
13.2.3 KEMIWATT 190
13.2.4 LE SYSTEM CO., LTD. 190
13.2.5 NANOFLOWCELL HOLDINGS PLC 191
13.2.6 STOREN TECHNOLOGIES 192
13.2.7 VANADIS POWER GMBH 193
13.2.8 VFLOWTECH PTE LTD. 194
13.2.9 VISBLUE A/S 195
13.2.10 VOLTERION DORTMUND 195
13.2.11 VOLTSTORAGE GMBH 196
13.2.12 VSUN ENERGY PTY LTD. 197
*Details on Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 ADJACENT AND RELATED MARKETS 198
14.1 INTRODUCTION 198
14.2 NICKEL CADMIUM BATTERY MARKET, BY REGION 198
14.2.1 INTRODUCTION 198
TABLE 144 NICKEL-CADMIUM BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION) 198
TABLE 145 NICKEL-CADMIUM BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION) 199
14.2.2 NORTH AMERICA 199
TABLE 146 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 199
TABLE 147 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 199
TABLE 148 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY END USER, 2018–2021 (USD MILLION) 200
TABLE 149 NORTH AMERICA: NICKEL-CADMIUM BATTERY MARKET, BY END USER, 2022–2027 (USD MILLION) 200
14.2.2.1 US 201
14.2.2.1.1 Rising adoption of Ni-Cd batteries in power grids for emergency backup to drive market 201
14.2.2.2 Canada 201
14.2.2.2.1 Increasing aircraft manufacturing activities to accelrate market growth 201
14.2.2.3 Mexico 202
14.2.2.3.1 Growing demand for energy storage to foster market growth 202

15 APPENDIX 203
15.1 INSIGHTS FROM INDUSTRY EXPERTS 203
15.2 DISCUSSION GUIDE 203
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 207
15.4 CUSTOMIZATION OPTIONS 209
15.5 RELATED REPORTS 209
15.6 AUTHOR DETAILS 210

 

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MarketsandMarkets社はどのような調査会社ですか?


マーケッツアンドマーケッツ(MarketsandMarkets)は通信、半導体、医療機器、エネルギーなど、幅広い市場に関する調査レポートを出版しています。また広範な市場を対象としたカスタム調査も行って... もっと見る


調査レポートの納品までの日数はどの程度ですか?


在庫のあるものは速納となりますが、平均的には 3-4日と見て下さい。
但し、一部の調査レポートでは、発注を受けた段階で内容更新をして納品をする場合もあります。
発注をする前のお問合せをお願いします。


注文の手続きはどのようになっていますか?


1)お客様からの御問い合わせをいただきます。
2)見積書やサンプルの提示をいたします。
3)お客様指定、もしくは弊社の発注書をメール添付にて発送してください。
4)データリソース社からレポート発行元の調査会社へ納品手配します。
5) 調査会社からお客様へ納品されます。最近は、pdfにてのメール納品が大半です。


お支払方法の方法はどのようになっていますか?


納品と同時にデータリソース社よりお客様へ請求書(必要に応じて納品書も)を発送いたします。
お客様よりデータリソース社へ(通常は円払い)の御振り込みをお願いします。
請求書は、納品日の日付で発行しますので、翌月最終営業日までの当社指定口座への振込みをお願いします。振込み手数料は御社負担にてお願いします。
お客様の御支払い条件が60日以上の場合は御相談ください。
尚、初めてのお取引先や個人の場合、前払いをお願いすることもあります。ご了承のほど、お願いします。


データリソース社はどのような会社ですか?


当社は、世界各国の主要調査会社・レポート出版社と提携し、世界各国の市場調査レポートや技術動向レポートなどを日本国内の企業・公官庁及び教育研究機関に提供しております。
世界各国の「市場・技術・法規制などの」実情を調査・収集される時には、データリソース社にご相談ください。
お客様の御要望にあったデータや情報を抽出する為のレポート紹介や調査のアドバイスも致します。



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