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Flow Battery Market by Battery Type (Redox, Hybrid), Material (Vanadium, Zinc Bromine, Organic, All-iron, Hydrogen Bromine), Storage (Large Scale & Small Scale), Use Cases (Peak Capacity, Energy Shifting, Frequency Regulation) - Global Forecast to 2030

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    Report

  • 244 Pages
  • December 2024
  • Region: Global
  • Markets and Markets
  • ID: 5353539
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 segment is expected to grow at the 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.

Commercial & industrial segment is likely to hold the second largest market in 2024.

Commercial & industrial sectors are impacted by the interrupted power supply, machine downtime, and blackouts. These power outages can severely hinder businesses, causing damage to the production lines and products, as well as delaying deliveries. Commercial & industrial energy storage prioritizes safety and cost-effectiveness and often finds flow batteries suitable.

Flow batteries offer long cycle life, minimal environmental impact, high energy recovery rate, and large capacity, making them well-suited for extreme environments. Flow battery energy storage is highly suitable for industrial and commercial applications because it facilitates peak-valley spread arbitrage, provides intrinsic safety, and handles large capacity requirements. Flow batteries align well with the pursuit of secure and economical energy storage in industrial and commercial sectors.

The North America segment is 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.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type - Tier 1 - 25%, Tier 2 - 30%, Tier 3 - 45%
  • By Designation - C-level Executives - 35%, Directors - 25%, Others - 40%
  • By Region - North America - 35%, Europe - 25%, Asia Pacific - 32%, RoW - 8%
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.

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.

Key Benefits to Buy the Report:

  • Analysis of key drivers (Rising popularity for flow batteries over traditional batteries, Government support for renewable energy storage systems, Growing demand for flow batteries in the utility sector, Increasing deployment of telecom towers), Restraint (Need for significant upfront capital requirements, Standardization challenges associated with flow battery), Opportunity (Growing demand for backup power solutions for data centers, Rising interest in residential energy storage solutions using flow batteries, Growing emphasis on power grid modernizing, Rising demand for advanced battery technologies), Challenges (Availability of alternative battery technologies).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the flow battery market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the flow battery market across varied regions
  • Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the flow battery market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Invinity Energy Systems (UK), Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Enerox GmbH (Austria), ESS Tech, Inc. (US) among others in the flow battery market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered and Regional Scope
1.3.2 Inclusions and Exclusions
1.3.3 Years Considered
1.4 Currency Considered
1.5 Unit Considered
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
2.1.1 Secondary and Primary Research
2.1.2 Secondary Data
2.1.2.1 List of Key Secondary Sources
2.1.2.2 Key Data from Secondary Sources
2.1.3 Primary Data
2.1.3.1 List of Primary Interview Participants
2.1.3.2 Key Data from Primary Sources
2.1.3.3 Key Industry Insights
2.1.3.4 Breakdown of Primaries
2.2 Market Size Estimation Methodology
2.2.1 Top-Down Approach
2.2.1.1 Approach to Arrive at Market Size Using Top-Down Analysis (Supply Side)
2.2.2 Bottom-Up Approach
2.2.2.1 Approach to Arrive at Market Size Using Bottom-Up Analysis (Demand Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations
2.6 Risk Analysis
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Flow Battery Market
4.2 Flow Battery Market, by Battery Type
4.3 Flow Battery Market, by Application
4.4 Flow Battery Market in North America, by Application and Country
4.5 Flow Battery Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Awareness About Benefits of Flow Batteries Over Traditional Batteries
5.2.1.2 Increasing Investments in Renewable Energy Projects
5.2.1.3 Surging Use of Flow Batteries in Utility and Smart Grid Applications
5.2.1.4 Increasing Deployment of Telecom Towers
5.2.2 Restraints
5.2.2.1 Need for Substantial Upfront Capital Investments
5.2.2.2 Standardization Challenges Associated with Flow Batteries
5.2.3 Opportunities
5.2.3.1 Growing Demand for Backup Power Solutions for Data Center Applications
5.2.3.2 Rising Use of Flow Battery-Integrated Residential Energy Storage Solutions
5.2.3.3 Increasing Focus on Power Grid Modernization
5.2.3.4 Rising Demand for Advanced Battery Technologies
5.2.4 Challenges
5.2.4.1 Availability of Alternative Battery Technologies
5.3 Trends/Disruptions Impacting Customer Business
5.4 Pricing Analysis
5.4.1 Average Selling Price of Flow Batteries, by Key Player, 2023
5.4.2 Average Selling Price Trend of Flow Batteries, 2021-2023
5.4.3 Average Selling Price Trend of Flow Batteries, by Region, 2021-2023
5.5 Value Chain Analysis
5.6 Ecosystem Analysis
5.7 Investment and Funding Scenario
5.8 Technology Analysis
5.8.1 Key Technologies
5.8.1.1 Zinc-Ion Batteries
5.8.1.2 Secondary Zinc-Air Batteries
5.8.2 Complementary Technologies
5.8.2.1 Solid-State Batteries
5.8.3 Adjacent Technologies
5.8.3.1 Liquid Metal Batteries
5.9 Patent Analysis
5.10 Trade Analysis
5.10.1 Import Scenario (HS Code 8112)
5.10.2 Export Scenario (HS Code 8112)
5.11 Key Conferences and Events, 2025
5.12 Case Study Analysis
5.12.1 Redflow Provides Optus Telecommunications with Flow Batteries to Reduce Co2 Emissions
5.12.2 Veriv and Redflow Provide Vodafone New Zealand Ltd. with Flow Battery-Integrated Hess to Ensure Constant Off-Grid Power
5.12.3 Invinity Energy Systems Deploys Flow Battery System in Oxford to Enable Load Shifting for EV Charging
5.13 Regulatory Landscape
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Standards
5.14 Porter's Five Forces Analysis
5.14.1 Bargaining Power of Suppliers
5.14.2 Bargaining Power of Buyers
5.14.3 Threat of New Entrants
5.14.4 Threat of Substitutes
5.14.5 Intensity of Competitive Rivalry
5.15 Key Stakeholders and Buying Criteria
5.15.1 Key Stakeholders in Buying Process
5.15.2 Buying Criteria
5.16 Impact of AI/Gen AI on Flow Battery Market
5.16.1 Introduction
5.16.2 AI/Gen AI Impact on Major Flow Battery Applications
5.16.2.1 Utilities
5.16.2.2 Commercial & Industrial
5.16.3 Use Cases
5.16.4 Future of AI/Gen AI in Flow Battery Ecosystem
6 Ownership Models of Flow Batteries
6.1 Introduction
6.2 Customer-Owned
6.3 Utility-Owned
6.4 Third-Party-Owned
7 Flow Battery Market, by Battery Type
7.1 Introduction
7.2 Redox
7.2.1 Cost-Effectiveness and Convenience in Large-Scale Energy Storage Applications to Spike Demand
7.3 Hybrid
7.3.1 Extended Operational Lifespan and Convenient Maintenance Features to Boost Demand
8 Flow Battery Market, by Material
8.1 Introduction
8.2 Vanadium
8.2.1 Growing Demand for Low-Carbon Energy Storage Solutions to Drive Adoption
8.3 Zinc-Bromine
8.3.1 Easy Availability and Flexible Design to Foster Segmental Growth
8.4 Other Materials
9 Flow Battery Market, by Storage
9.1 Introduction
9.2 Large-Scale
9.2.1 Surging Need for Large-Scale Energy Storage in Utilities Sector to Fuel Segmental Growth
9.3 Small-Scale
9.3.1 Growing Demand for Compact and Portable Energy Storage Solutions in Residential Applications to Drive Market
10 Flow Battery Market, by Application
10.1 Introduction
10.2 Utilities
10.2.1 Peak Capacity Management
10.2.1.1 Pressing Need to Harness Off-Peak Power for Peak Demand to Drive Market
10.2.2 Energy Shifting
10.2.2.1 Increasing Focus on Optimizing Grid Operations to Boost Demand
10.2.3 Transmission
10.2.3.1 Escalating Demand for Highly Efficient and Reliable Power Grid to Fuel Market Growth
10.2.4 Distribution
10.2.4.1 Urgent Requirement to Address Voltage Fluctuations and Power Outage Issues to Accelerate Demand
10.2.5 Frequency Regulation
10.2.5.1 Heightened Need for Consistent and Reliable Power to Facilitate Adoption
10.3 Commercial & Industrial
10.3.1 Need for Emergency Backup Power to Prevent Production Loss During Power Outages to Accelerate Deployment
10.4 EV Charging Stations
10.4.1 Government-Led Funding to Expand Electric Vehicle Charging Infrastructure to Create Growth Opportunities
10.5 Other Applications
11 Flow Battery Market, by Region
11.1 Introduction
11.2 North America
11.2.1 Macroeconomic Outlook for North America
11.2.2 US
11.2.2.1 Government Funding to Advance Battery Technologies to Accelerate Market Growth
11.2.3 Canada
11.2.3.1 Significant Focus on Reducing Ghg Emissions and Achieving Energy Cost Savings and Resilience to Support Market Growth
11.2.4 Mexico
11.2.4.1 Government-Run Grid Modernization Projects to Drive Market
11.3 Europe
11.3.1 Macroeconomic Outlook for Europe
11.3.2 Germany
11.3.2.1 Substantial Investments in Developing Advanced Battery Technologies to Fuel Market Growth
11.3.3 UK
11.3.3.1 Increasing Investments by Public and Private Sectors to Develop Flow Batteries for Newer Applications to Foster Market Growth
11.3.4 France
11.3.4.1 Rising Focus on Improving EV Charging Infrastructure to Fuel Demand
11.3.5 Italy
11.3.5.1 Pressing Need to Reduce Carbon Footprint to Spur Demand
11.3.6 Switzerland
11.3.6.1 Surging Requirement to Store Excess Energy Generated by Renewable Sources to Propel Market
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Macroeconomic Outlook for Asia-Pacific
11.4.2 China
11.4.2.1 Increasing Deployment of Large-Scale Energy Storage Systems to Facilitate Market Growth
11.4.3 Japan
11.4.3.1 Growing Need to Modernize Grid Infrastructure to Fuel Adoption
11.4.4 India
11.4.4.1 Increasing Investments in Power Grid Modernization to Drive Market
11.4.5 Australia
11.4.5.1 Transition Toward Cleaner and More Sustainable Energy Future to Contribute to Market Growth
11.4.6 South Korea
11.4.6.1 Rising Demand for Electricity to Fuel Market Growth
11.4.7 Rest of Asia-Pacific
11.5 RoW
11.5.1 Macroeconomic Outlook for RoW
11.5.2 Middle East
11.5.2.1 Government Initiatives and Policies Supporting Energy Storage Technologies to Drive Market
11.5.2.2 GCC Countries
11.5.2.3 Rest of Middle East
11.5.3 South America
11.5.3.1 Rising Focus on Achieving Renewable Energy Goals to Boost Demand
11.5.4 Africa
11.5.4.1 Increasing Flow Battery Projects to Drive Market
12 Competitive Landscape
12.1 Introduction
12.2 Key Player Strategies/Right to Win, 2020-2024
12.3 Revenue Analysis, 2019-2023
12.4 Market Share Analysis, 2023
12.5 Company Valuation and Financial Metrics, 2024
12.6 Product Comparison
12.7 Company Evaluation Matrix: Key Players, 2023
12.7.1 Stars
12.7.2 Emerging Leaders
12.7.3 Pervasive Players
12.7.4 Participants
12.7.5 Company Footprint: Key Players, 2023
12.7.5.1 Company Footprint
12.7.5.2 Region Footprint
12.7.5.3 Application Footprint
12.7.5.4 Storage Footprint
12.7.5.5 Material Footprint
12.7.5.6 Battery Type Footprint
12.8 Company Evaluation Matrix: Startups/SMEs, 2023
12.8.1 Progressive Companies
12.8.2 Responsive Companies
12.8.3 Dynamic Companies
12.8.4 Starting Blocks
12.8.5 Competitive Benchmarking: Startups/SMEs, 2023
12.8.5.1 Detailed List of Key Startups/SMEs
12.8.5.2 Competitive Benchmarking of Key Startups/SMEs
12.9 Competitive Scenario
12.9.1 Product Launches
12.9.2 Deals
12.9.3 Other Developments
13 Company Profiles
13.1 Key Players
13.1.1 Sumitomo Electric Industries, Ltd.
13.1.1.1 Business Overview
13.1.1.2 Products/Solutions/Services Offered
13.1.1.3 Recent Developments
13.1.1.3.1 Developments
13.1.1.4 Analyst's View
13.1.1.4.1 Key Strengths/Right to Win
13.1.1.4.2 Strategic Choices
13.1.1.4.3 Weaknesses/Competitive Threats
13.1.2 Invinity Energy Systems
13.1.2.1 Business Overview
13.1.2.2 Products/Services/Solutions Offered
13.1.2.3 Recent Developments
13.1.2.3.1 Deals
13.1.2.3.2 Expansions
13.1.2.3.3 Other Developments
13.1.2.4 Analyst's View
13.1.2.4.1 Key Strengths/Right to Win
13.1.2.4.2 Strategic Choices
13.1.2.4.3 Weaknesses/Competitive Threats
13.1.3 Enerox GmbH
13.1.3.1 Business Overview
13.1.3.2 Products/Services/Solutions Offered
13.1.3.3 Recent Developments
13.1.3.3.1 Deals
13.1.3.3.2 Expansions
13.1.3.4 Analyst's View
13.1.3.4.1 Key Strengths/Right to Win
13.1.3.4.2 Strategic Choices
13.1.3.4.3 Weaknesses/Competitive Threats
13.1.4 Vrb Energy
13.1.4.1 Business Overview
13.1.4.2 Products/Services/Solutions Offered
13.1.4.3 Recent Developments
13.1.4.3.1 Deals
13.1.4.3.2 Expansions
13.1.4.3.3 Other Developments
13.1.4.4 Analyst's View
13.1.4.4.1 Key Strengths/Right to Win
13.1.4.4.2 Strategic Choices
13.1.4.4.3 Weaknesses/Competitive Threats
13.1.5 Ess Tech, Inc.
13.1.5.1 Business Overview
13.1.5.2 Products/Services/Solutions Offered
13.1.5.3 Recent Developments
13.1.5.3.1 Product Launches
13.1.5.3.2 Deals
13.1.5.3.3 Expansions
13.1.5.3.4 Other Developments
13.1.5.4 Analyst's View
13.1.5.4.1 Key Strength/Right to Win
13.1.5.4.2 Strategic Choices
13.1.5.4.3 Weaknesses/Competitive Threats
13.1.6 Rkp Dalian Rongke Energy Storage Technology Development Co. Ltd.
13.1.6.1 Business Overview
13.1.6.2 Products/Services/Solutions Offered
13.1.7 Elestor Bv
13.1.7.1 Business Overview
13.1.7.2 Products/Services/Solutions Offered
13.1.8 Largo Inc.
13.1.8.1 Business Overview
13.1.8.2 Products/Services/Solutions Offered
13.1.9 Lockheed Martin Corporation
13.1.9.1 Business Overview
13.1.9.2 Products/Services/Solutions Offered
13.1.9.3 Recent Developments
13.1.9.3.1 Developments
13.1.10 Primus Power Solutions
13.1.10.1 Business Overview
13.1.10.2 Products/Services/Solutions Offered
13.1.11 Stryten Energy
13.1.11.1 Business Overview
13.1.11.2 Products/Services/Solutions Offered
13.1.11.3 Recent Developments
13.1.11.3.1 Expansions
13.1.12 Vizn Energy Systems
13.1.12.1 Business Overview
13.1.12.2 Products/Services/Solutions Offered
13.2 Other Players
13.2.1 Everflow
13.2.2 H2, Inc.
13.2.3 Kemiwatt
13.2.4 Nanoflowcell Management AG
13.2.5 Storen Technologies
13.2.6 Vflowtech Pte Ltd.
13.2.7 Visblue A/S
13.2.8 Volterion GmbH & Co. KG
13.2.9 Voltstorage
13.2.10 Vanevo GmbH
13.2.11 Flux Xii
13.2.12 Otoro Energy, Inc.
13.2.13 Sinergy Flow Srl
14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options
List of Tables
Table 1 Flow Battery Market: Risk Analysis
Table 2 Indicative Pricing of Flow Batteries Offered by Key Players, 2023
Table 3 Role of Companies in Flow Battery Ecosystem
Table 4 List of Major Patents, 2022-2024
Table 5 Import Data for HS Code 8112-Compliant Products, by Country, 2019-2023 (USD Million)
Table 6 Export Data for HS Code 8112-Compliant Products, by Country, 2019-2023 (USD Million)
Table 7 List of Key Conferences and Events, 2025
Table 8 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Major Standards
Table 13 Porter's Five Forces Analysis
Table 14 Influence of Stakeholders on Buying Process for Top 3 Applications (%)
Table 15 Key Buying Criteria for Top 3 Applications
Table 16 Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 17 Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 18 Flow Battery Market, by Battery Type, 2021-2023 (Installed Capacity in Mwh)
Table 19 Flow Battery Market, by Battery Type, 2024-2030 (Installed Capacity in Mwh)
Table 20 Redox: Flow Battery Market, by Material, 2021-2023 (USD Million)
Table 21 Redox: Flow Battery Market, by Material, 2024-2030 (USD Million)
Table 22 Redox: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 23 Redox: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 24 Hybrid: Flow Battery Market, by Material, 2021-2023 (USD Million)
Table 25 Hybrid: Flow Battery Market, by Material, 2024-2030 (USD Million)
Table 26 Hybrid: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 27 Hybrid: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 28 Flow Battery Market, by Material, 2021-2023 (USD Million)
Table 29 Flow Battery Market, by Material, 2024-2030 (USD Million)
Table 30 Vanadium: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 31 Vanadium: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 32 Zinc-Bromine: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 33 Zinc-Bromine: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 34 Other Materials: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 35 Other Materials: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 36 Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 37 Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 38 Large-Scale: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 39 Large-Scale: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 40 Large-Scale: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 41 Large-Scale: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 42 Small-Scale: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 43 Small-Scale: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 44 Small-Scale: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 45 Small-Scale: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 46 Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 47 Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 48 Utilities: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 49 Utilities: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 50 Utilities: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 51 Utilities: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 52 Utilities: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 53 Utilities: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 54 Commercial & Industrial: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 55 Commercial & Industrial: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 56 Commercial & Industrial: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 57 Commercial & Industrial: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 58 EV Charging Stations: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 59 EV Charging Stations: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 60 EV Charging Stations: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 61 EV Charging Stations: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 62 Other Applications: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 63 Other Applications: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 64 Other Applications: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 65 Other Applications: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 66 Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 67 Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 68 North America: Flow Battery Market, by Country, 2021-2023 (USD Million)
Table 69 North America: Flow Battery Market, by Country, 2024-2030 (USD Million)
Table 70 North America: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 71 North America: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 72 North America: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 73 North America: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 74 North America: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 75 North America: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 76 US: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 77 US: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 78 US: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 79 US: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 80 Canada: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 81 Canada: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 82 Canada: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 83 Canada: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 84 Mexico: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 85 Mexico: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 86 Mexico: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 87 Mexico: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 88 Europe: Flow Battery Market, by Country, 2021-2023 (USD Million)
Table 89 Europe: Flow Battery Market, by Country, 2024-2030 (USD Million)
Table 90 Europe: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 91 Europe: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 92 Europe: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 93 Europe: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 94 Europe: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 95 Europe: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 96 Germany: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 97 Germany: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 98 Germany: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 99 Germany: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 100 UK: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 101 UK: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 102 UK: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 103 UK: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 104 France: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 105 France: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 106 France: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 107 France: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 108 Italy: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 109 Italy: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 110 Italy: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 111 Italy: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 112 Switzerland: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 113 Switzerland: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 114 Switzerland: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 115 Switzerland: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 116 Rest of Europe: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 117 Rest of Europe: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 118 Rest of Europe: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 119 Rest of Europe: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 120 Asia-Pacific: Flow Battery Market, by Country, 2021-2023 (USD Million)
Table 121 Asia-Pacific: Flow Battery Market, by Country, 2024-2030 (USD Million)
Table 122 Asia-Pacific: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 123 Asia-Pacific: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 124 Asia-Pacific: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 125 Asia-Pacific: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 126 Asia-Pacific: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 127 Asia-Pacific: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 128 China: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 129 China: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 130 China: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 131 China: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 132 Japan: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 133 Japan: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 134 Japan: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 135 Japan: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 136 India: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 137 India: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 138 India: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 139 India: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 140 Australia: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 141 Australia: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 142 Australia: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 143 Australia: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 144 South Korea: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 145 South Korea: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 146 South Korea: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 147 South Korea: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 148 Rest of Asia-Pacific: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 149 Rest of Asia-Pacific: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 150 Rest of Asia-Pacific: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 151 Rest of Asia-Pacific: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 152 RoW: Flow Battery Market, by Region, 2021-2023 (USD Million)
Table 153 RoW: Flow Battery Market, by Region, 2024-2030 (USD Million)
Table 154 RoW: Flow Battery Market, by Battery Type, 2021-2023 (USD Million)
Table 155 RoW: Flow Battery Market, by Battery Type, 2024-2030 (USD Million)
Table 156 RoW: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 157 RoW: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 158 RoW: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 159 RoW: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 160 Middle East: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 161 Middle East: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 162 Middle East: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 163 Middle East: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 164 South America: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 165 South America: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 166 South America: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 167 South America: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 168 Africa: Flow Battery Market, by Storage, 2021-2023 (USD Million)
Table 169 Africa: Flow Battery Market, by Storage, 2024-2030 (USD Million)
Table 170 Africa: Flow Battery Market, by Application, 2021-2023 (USD Million)
Table 171 Africa: Flow Battery Market, by Application, 2024-2030 (USD Million)
Table 172 Overview of Strategies Adopted by Key Players, January 2020-October 2024
Table 173 Flow Battery Market: Degree of Competition, 2023
Table 174 Flow Battery Market: Region Footprint
Table 175 Flow Battery Market: Application Footprint
Table 176 Flow Battery Market: Storage Footprint
Table 177 Flow Battery Market: Material Footprint
Table 178 Flow Battery Market: Battery Type Footprint
Table 179 Flow Battery Market: List of Key Startups/SMEs
Table 180 Flow Battery Market: Competitive Benchmarking of Key Startups/SMEs
Table 181 Flow Battery Market: Product Launches, January 2020-October 2024
Table 182 Flow Battery Market: Deals, January 2020-October 2024
Table 183 Flow Battery Market: Other Developments, January 2020-October 2024
Table 184 Sumitomo Electric Industries, Ltd.: Company Overview
Table 185 Sumitomo Electric Industries, Ltd.: Products/Solutions/Services Offered
Table 186 Sumitomo Electric Industries, Ltd.: Developments
Table 187 Invinity Energy Systems: Company Overview
Table 188 Invinity Energy Systems: Products/Services/Solutions Offered
Table 189 Invinity Energy Systems: Deals
Table 190 Invinity Energy Systems: Expansions
Table 191 Invinity Energy Systems: Other Developments
Table 192 Enerox GmbH: Company Overview
Table 193 Enerox GmbH: Products/Services/Solutions Offered
Table 194 Enerox GmbH: Deals
Table 195 Enerox GmbH: Expansions
Table 196 Vrb Energy: Company Overview
Table 197 Vrb Energy: Products/Services/Solutions Offered
Table 198 Vrb Energy: Deals
Table 199 Vrb Energy: Expansions
Table 200 Vrb Energy: Other Developments
Table 201 Ess Tech, Inc.: Company Overview
Table 202 Ess Tech, Inc.: Products/Services/Solutions Offered
Table 203 Ess Tech, Inc.: Product Launches
Table 204 Ess Tech, Inc.: Deals
Table 205 Ess Tech, Inc.: Expansions
Table 206 Ess Tech, Inc.: Other Developments
Table 207 Rkp Dalian Rongke Energy Storage Technology Development Co. Ltd.: Company Overview
Table 208 Rkp Dalian Rongke Energy Storage Technology Development Co. Ltd.: Products/Services/Solutions Offered
Table 209 Elestor Bv: Company Overview
Table 210 Elestor Bv: Products/Services/Solutions Offered
Table 211 Largo Inc.: Company Overview
Table 212 Largo Inc.: Products/Services/Solutions Offered
Table 213 Lockheed Martin Corporation: Company Overview
Table 214 Lockheed Martin Corporation: Products/Services/Solutions Offered
Table 215 Lockheed Martin Corporation: Developments
Table 216 Primus Power Solutions: Company Overview
Table 217 Primus Power Solutions: Products/Services/Solutions Offered
Table 218 Stryten Energy: Company Overview
Table 219 Stryten Energy: Products/Services/Solutions Offered
Table 220 Stryten Energy: Expansions
Table 221 Vizn Energy Systems: Company Overview
Table 222 Vizn Energy Systems: Products/Services/Solutions Offered
List of Figures
Figure 1 Flow Battery Market Segmentation and Regional Scope
Figure 2 Flow Battery Market: Research Design
Figure 3 Flow Battery Market: Research Approach
Figure 4 Flow Battery Market: Top-Down Approach
Figure 5 Flow Battery Market: Bottom-Up Approach
Figure 6 Flow Battery Market Size Estimation Methodology
Figure 7 Flow Battery Market: Data Triangulation
Figure 8 Flow Battery Market: Research Assumptions
Figure 9 Flow Battery Market Size, 2021-2030
Figure 10 Redox Segment to Register Higher CAGR in Flow Battery Market, By Battery Type, from 2024 to 2030
Figure 11 Vanadium Segment to Hold Largest Share of Flow Battery Market, By Material, in 2024
Figure 12 Large-Scale Flow Batteries to Dominate Market, by Storage, From 2024 to 2030
Figure 13 Utilities Segment to Hold Largest Share of Flow Battery Market, By Application, in 2030
Figure 14 North America Accounted for Largest Share of Flow Battery Market in 2023
Figure 15 Rising Investment in Renewable Energy Projects to Contribute to Market Growth
Figure 16 Redox Segment to Hold Larger Share of Flow Battery Market in 2030
Figure 17 Utilities Segment to Capture Largest Share of Flow Battery Market in 2030
Figure 18 Utilities Segment and US Accounted for Largest Share of North American Flow Battery Market in 2023
Figure 19 China to Exhibit Highest CAGR in Global Flow Battery Market During Forecast Period
Figure 20 Flow Battery Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Global Investments in Renewable Energy, 2020-2024
Figure 22 Impact Analysis: Drivers
Figure 23 Impact Analysis: Restraints
Figure 24 Impact Analysis: Opportunities
Figure 25 Impact Analysis: Challenges
Figure 26 Trends/Disruptions Influencing Customer Business
Figure 27 Average Selling Price of Flow Batteries Offered by Key Players, 2023
Figure 28 Average Selling Price Trend of Flow Batteries, 2021-2023
Figure 29 Average Selling Price Trend of Flow Batteries, by Region, 2021-2023
Figure 30 Value Chain Analysis
Figure 31 Flow Battery Ecosystem
Figure 32 Investment and Funding Scenario, 2021-2024
Figure 33 Patents Applied and Granted, 2014-2023
Figure 34 Import Scenario for HS Code 8112-Compliant Products, by Country, 2019-2023
Figure 35 Export Scenario for HS Code 8112-Compliant Products, by Country, 2019-2023
Figure 36 Porter's Five Forces Analysis
Figure 37 Influence of Stakeholders on Buying Process for Top 3 Applications
Figure 38 Key Buying Criteria for Top 3 Applications
Figure 39 Different Ownership Models of Flow Batteries
Figure 40 Flow Battery Market, by Battery Type
Figure 41 Redox Flow Batteries to Lead Market Throughout Forecast Period
Figure 42 Flow Battery Market, by Material
Figure 43 Vanadium Material to Account for Largest Share of Flow Battery Market in 2030
Figure 44 Flow Battery Market, by Storage
Figure 45 Large-Scale Flow Batteries to Lead Market in 2030
Figure 46 Flow Battery Market, by Application
Figure 47 Utilities Segment to Capture Largest Share of Flow Battery Market in 2030
Figure 48 Flow Battery Market, by Region
Figure 49 China to be Fastest-Growing Market During Forecast Period
Figure 50 North America: Flow Battery Market Snapshot
Figure 51 US to Account for Largest Share of North American Flow Battery Market in 2030
Figure 52 Europe: Flow Battery Market Snapshot
Figure 53 Germany to Register Highest CAGR in European Flow Battery Market During Forecast Period
Figure 54 Asia-Pacific: Flow Battery Market Snapshot
Figure 55 China to Lead Flow Battery Market in Asia-Pacific During Forecast Period
Figure 56 Middle East to Hold Largest Share of Flow Battery Market in RoW in 2030
Figure 57 Revenue Analysis of Major Players in Flow Battery Market, 2019-2023
Figure 58 Market Share Analysis of Companies Offering Flow Batteries, 2023
Figure 59 Company Valuation, 2024
Figure 60 Financial Metrics (EV/EBITDA), 2024
Figure 61 Product Comparison
Figure 62 Flow Battery Market: Company Evaluation Matrix (Key Players), 2023
Figure 63 Flow Battery Market: Company Footprint
Figure 64 Flow Battery Market: Company Evaluation Matrix (Startups/SMEs), 2023
Figure 65 Sumitomo Electric Industries, Ltd.: Company Snapshot
Figure 66 Invinity Energy Systems: Company Snapshot
Figure 67 Largo Inc.: Company Snapshot
Figure 68 Lockheed Martin Corporation: Company Snapshot

Companies Mentioned

  • 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

Methodology

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Table Information