DUBLIN, March 12, 2024 /PRNewswire/ — The “Flow Batteries – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Flow Batteries estimated at US$303.9 Million in the year 2022, is projected to reach a revised size of US$1.3 Billion by 2030, growing at a CAGR of 20.4% over the analysis period 2022-2030. Vanadium, one of the segments analyzed in the report, is projected to record a 20% CAGR and reach US$928.7 Million by the end of the analysis period. Growth in the Zinc-Bromine segment is estimated at 22.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $75.4 Million, While China is Forecast to Grow at 24.8% CAGR
The Flow Batteries market in the U.S. is estimated at US$75.4 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$234.8 Million by the year 2030 trailing a CAGR of 24.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.3% and 19% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 19.2% CAGR.
Key Market Trends & Drivers
- Growth of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: A Key Opportunity for Flow Batteries
- Energy Storage Grange Challenge
- Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies
- Select Flow Batteries Projects for Energy Storage
- Will Flow Batteries Surpass Li-ion for Large-scale Energy Storage
- Flow Batteries Vs Lithium-Ion Batteries
- Rise in Number of Startups in Flow Batteries Space
- Growing Opportunities for Flow Batteries in Clean Energy Space
- Innovative Compact & Affordable Flow Batteries to Spearhead New Era in Clean Energy
- Flow Batteries: Potential to be a Game Changer for Electric Vehicles
- 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
- Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
- Residential Applications to Witness Increased Penetration of Flow Batteries in the Long Run
- Smaller Flow Battery Companies Witness Growth in Commercial and Residential Markets
- Flow Batteries Hold Potential in Military Applications
- 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
- AI Control for VRFBs – The First-of-its-Kind Control Method for Improving Battery Performance for DC Microgrid Applications
- Bromine Flow Batteries: Opportunities in Store
- Hybrid Flow Battery Market: An Overview
- Zinc-Bromine (ZnBr) Chemistry: A Reliable Hybrid Flow Battery
- Zinc Iron Flow Batteries Gain Interest in Grid-Scale Energy Storage Applications
- Redox Flow Batteries: Significant Potential in Storage Battery Market
- Advancements in RFBs to Support the World Easily Transition to Sustainable Energy Future
- RFB Projects On the Move
- Technological Innovations & Advancements Drive Flow Batteries Demand
- Rentable Electrolytes Model Comes into Spotlight for Flow Batteries to Compete Against Lithium Ion Batteries
- Challenges Confronting Flow Batteries Market
A selection of companies mentioned includes:
- 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
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 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 Topics Covered:
MARKET OVERVIEW
- Growing Focus on Long-Duration Energy Storage with Sustainable and Efficient Power Solutions Lays the Foundation for Growth for Flow Batteries
- Manufacturers Focus on Addressing Challenges
- Vanadium Flow Batteries Hog the Spotlight
- Developing Economies to Boost Future Growth
- Global Economic Update
- Competition
- Competitive Market Presence – Strong/Active/Niche/Trivial for 77 Players Worldwide in 2023 (E)
- An Introduction to Flow Batteries
- Types of Flow Batteries & Technologies
- Advantages & Disadvantages of Flow Batteries
- Applications of Flow Batteries
INFLUENCER/PRODUCT/TECHNOLOGY INSIGHTS
- Recent Market Activity
- World Brands
FOCUS ON SELECT PLAYERS
MARKET TRENDS & DRIVERS
GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/waspzv
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SOURCE Research and Markets
