MARKET INTRODUCTION
The flow battery is a type of electrochemical cell that may be used like a fuel cell or rechargeable battery. These are giant devices that use tanks of electrolytes that store electricity. The utility application segment is likely to grow rapidly during the forecast period. Key market players are concentrating on technological innovations with improved capabilities. Furthermore, increased penetration in residential applications is expected to offer significant growth opportunities for the flow battery market and the major players involved in the forecast period.
MARKET DYNAMICS
The flow battery market is anticipated to grow in the forecast period owing to the various advantages of flow battery, such as easy scalability, long cycle life, and low self-discharge. Additionally, demand from the utility sector and growing investments in renewable energy further propel the growth of the flow battery market. On the other hand, high construction cost and technical hindrance negatively influence the growth of the flow battery market during the forecast period. Technological improvements are likely to create growth prospects for the market players in the coming years.
MARKET SCOPE
The "Global Flow Battery Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of flow battery market with detailed market segmentation by material, type, storage, application, and geography. The global flow battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading flow battery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global flow battery market is segmented on the basis of material, type, storage, and application. By material, the market is segmented as Vanadium, zinc-bromine, and others. Based on type, the market is segmented as redox flow battery and hybrid-flow battery. On the basis of the application, the market is segmented as large scale and compact. The market on the basis of the application is classified as military, utilities, commercial, industrial, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global flow battery market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The flow battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting flow battery market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the flow battery market in these regions.
MARKET PLAYERS
The reports cover key developments in the flow battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from flow battery market are anticipated to lucrative growth opportunities in the future with the rising demand for flow battery in the global market. Below mentioned is the list of few companies engaged in the flow battery market.
The report also includes the profiles of key flow battery companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Elestor BV
- ESS, Inc
- H2, Inc.
- Kemiwatt
- nanoFlowcell Holdings Ltd
- Primus Power
- redT energy plc
- SCHMID Group
- Sumitomo Electric Industries, Ltd.
- Vionx Energy
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.