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The Global Market for Flow Batteries 2024-2034

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  • Published: October 2023
  • Pages: 145 
  • Tables: 38
  • Figures: 11
  • Series: Energy

 

The global market for flow batteries is poised for massive growth driven by rising demand for renewable energy storage and grid modernization. Flow batteries provide unique advantages over conventional rechargeable batteries for large scale energy storage applications. The most mature and commercially successful flow battery is the vanadium redox flow battery. Other promising chemistries include zinc-bromine, iron-chromium, and polysulfide-bromine flow batteries. Hybrid flow batteries combining zinc, vanadium, and polyhalide electrolytes also demonstrate good technical characteristics. 

The Global Market for Flow Batteries 2024-2034 provides an in-depth analysis of the flow battery market including market size, growth forecasts, trends, drivers, companies, technologies, applications, and future outlook. It covers key battery types like vanadium redox, zinc-bromine, iron-chromium, and emerging chemistries. Detailed application analysis across utility storage, microgrids, renewable integration, EV charging, telecom towers, data centers, C&I, and residential sectors.

Profiles of major manufacturers, start-ups, and investments are provided. The report segments the global market by region including North America, Europe, Asia Pacific, China, and RoW. Market challenges, cost analysis, SWOT analysis, and growth opportunities are covered.

With increasing need for long duration energy storage, flow batteries are expected to see high adoption. This report serves as a comprehensive guide to the flow battery market for stakeholders across the energy storage value chain.

Report contents include:

  • Introduction covers flow battery principles, advantages/disadvantages, major types like vanadium redox, zinc-bromine, polysulfide bromine, iron-chromium, and comparisons with Li-ion batteries.
  • Market Analysis examines drivers, trends, current market, value chain, recent news/funding, competitive landscape, SWOT analysis, cost analysis, applications roadmap, and market segments like utility storage, renewables, UPS, telecom, EVs, and C&I.
  • Global revenue forecasts are provided by battery type, end-use market, and region from 2018-2034. Challenges for adoption are also analyzed.
  • Company Profiles section covers 35 key players in the flow battery industry including manufacturers, technology developers, and startups. Companies profiled include CellCube, Dalian Rongke Power, ESS Tech, Invinity Energy Systems, Quino Energy,  Salgenx, Sumitomo Electric Industries, VFlowTech, VoltStorage GmbH,  and Volterion. 
  • Research Methodology and References provide details on the research approach and data sources used in the report.

 

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The Global Market for Flow Batteries 2024-2034
The Global Market for Flow Batteries 2024-2034
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The Global Market for Flow Batteries 2024-2034
The Global Market for Flow Batteries 2024-2034
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View full table of contents (PDF)

1              INTRODUCTION        9

  • 1.1          Flow Battery Principles  9
  • 1.2          Advantages and disadvantages  11
  • 1.3          Types    13
    • 1.3.1      Redox flow batteries      13
      • 1.3.1.1   Vanadium redox flow batteries (VRFB)   13
      • 1.3.1.2   Zinc-bromine flow batteries (ZnBr)           17
      • 1.3.1.3   Polysulfide bromine flow batteries (PSB)               20
      • 1.3.1.4   Iron-chromium flow batteries (ICB)          23
      • 1.3.1.5   All-Iron flow batteries    25
      • 1.3.1.6   Zinc-iron (Zn-Fe) flow batteries  29
      • 1.3.1.7   Hydrogen-bromine (H-Br) flow batteries 31
      • 1.3.1.8   Hydrogen-Manganese (H-Mn) flow batteries       33
      • 1.3.1.9   Organic flow batteries   35
      • 1.3.1.10                Redox flow battery installations 37
    • 1.3.2      Hybrid Flow Batteries     40
      • 1.3.2.1   Zinc-Cerium Hybrid          40
      • 1.3.2.2   Zinc-Polyiodide Flow Battery       41
      • 1.3.2.3   Zinc-Nickel Hybrid Flow Battery 43
      • 1.3.2.4   Zinc-Bromine Hybrid Flow Battery            43
      • 1.3.2.5   Vanadium-Polyhalide Flow Battery           44
  • 1.4      Comparison with Li-ion batteries               45

 

2              MARKET ANALYSIS          47

  • 2.1          Market drivers  47
  • 2.2          Market trends   49
  • 2.3          Current market 51
  • 2.4          Value chain         52
  • 2.5          Recent market news, funding and developments               53
  • 2.6          Competitive landscape  56
  • 2.7          SWOT analysis   62
  • 2.8          Cost analysis      64
  • 2.9          Applications roadmap    68
  • 2.10        Markets               70
    • 2.10.1    Utility grid energy storage            70
      • 2.10.1.1                Market overview             70
      • 2.10.1.2                Advantages        71
      • 2.10.1.3                Applications       72
      • 2.10.1.4                Market players  73
    • 2.10.2    Renewable energy storage          74
      • 2.10.2.1                Market overview             74
      • 2.10.2.2                Advantages        75
      • 2.10.2.3                Applications       75
      • 2.10.2.4                Market players  76
    • 2.10.3    UPS and backup systems              77
      • 2.10.3.1                Market overview             77
      • 2.10.3.2                Advantages        78
      • 2.10.3.3                Applications       79
      • 2.10.3.4                Market players  80
    • 2.10.4    Telecom network energy storage              81
      • 2.10.4.1                Market overview             81
      • 2.10.4.2                Advantages        82
      • 2.10.4.3                Applications       83
      • 2.10.4.4                Market players  84
    • 2.10.5    Electric vehicle charging 85
      • 2.10.5.1                Market overview             85
      • 2.10.5.2                Advantages        86
      • 2.10.5.3                Applications       86
      • 2.10.5.4                Market players  87
    • 2.10.6    Residential and C&I Storage        88
      • 2.10.6.1                Market overview             88
      • 2.10.6.2                Advantages        89
      • 2.10.6.3                Applications       89
      • 2.10.6.4                Market players  90
    • 2.10.7    Other    91
  • 2.11        Global revenues for flow batteries, 2018-2034     93
    • 2.11.1    By type 93
    • 2.11.2    By end-use market          95
    • 2.11.3    By region             96
  • 2.12        Market challenges           98

 

3              COMPANY PROFILES       100 (35 company profiles)

 

4              RESEARCH METHODOLOGY         135

 

5              REFERENCES       137

 

List of Tables

  • Table 1. Advantages and disadvantages of flow batteries.              11
  • Table 2. Vanadium redox flow batteries (VRFB)-key features, advantages, limitations, performance, components and applications.       15
  • Table 3. Market players in Vanadium redox flow batteries (VRFB).             16
  • Table 4. Zinc-bromine (ZnBr) flow batteries-key features, advantages, limitations, performance, components and applications.       17
  • Table 5. Market players in Zinc-Bromine Flow Batteries (ZnBr).    19
  • Table 6. Polysulfide bromine flow batteries (PSB)-key features, advantages, limitations, performance, components and applications.       20
  • Table 7. Iron-chromium (ICB) flow batteries-key features, advantages, limitations, performance, components and applications.       23
  • Table 8. All-Iron flow batteries-key features, advantages, limitations, performance, components and applications.                25
  • Table 9. Market players in All-iron Flow Batteries.             27
  • Table 10. Market players in Zinc-iron (Zn-Fe) Flow Batteries.        30
  • Table 11. Market players in Hydrogen-bromine (H-Br) flow batteries.       32
  • Table 12. Market players in Hydrogen-Manganese (H-Mn) Flow Batteries.              34
  • Table 13. Classification of Organic Redox Flow Batteries (ORFB). 35
  • Table 14. Market players in Organic Redox Flow Batteries (ORFB).              36
  • Table 15. Redox flow battery installations.            37
  • Table 16. Comparison with Li-ion batteries.          45
  • Table 17. Market drivers for flow batteries.          47
  • Table 18. Market trends in flow batteries.             49
  • Table 19. Flow battery production facilities.          51
  • Table 20. Recent market news, funding and developments in flow batteries.         53
  • Table 21. Cost Comparison of Chemistries.           66
  • Table 22. Application of flow batteries in Utility Grid Energy Storage.        72
  • Table 23. Market players in flow batteries in Utility Grid Energy Storage. 73
  • Table 24. Application of flow batteries in renewable energy storage.        75
  • Table 25. Market players in flow batteries in Renewable Energy Storage. 76
  • Table 26. Application of flow batteries in UPS and backup systems.           79
  • Table 27. Market players in flow batteries in UPS and backup systems.    80
  • Table 28. Application of flow batteries in Telecom Network Energy Storage.          83
  • Table 29. Market players in flow batteries in Telecom network energy storage.   84
  • Table 30. Application of flow batteries in Electric vehicle charging.             86
  • Table 31. Market players in flow batteries in electric vehicle charging.      87
  • Table 32. Application of flow batteries in Residential and C&I Storage.     89
  • Table 33. Market players in flow batteries in Residential and C&I Storage.              90
  • Table 34. Other markets and applications for flow batteries.         91
  • Table 35. Global revenues for flow batteries, 2018-2034, by type (millions USD). 93
  • Table 36. Global revenues for flow batteries, 2018-2034, by end-use market (millions USD).          95
  • Table 37. Global revenues for flow batteries, 2018-2034, by region (millions USD).             96
  • Table 38. Market challenges in flow batteries.     98

 

List of Figures

  • Figure 1. Scheme of a redox flow battery.              9
  • Figure 2. Redox flow battery: Working principle. 14
  • Figure 3. Flow battery value chain.            52
  • Figure 4. SWOT analysis for flow batteries.           63
  • Figure 5. Flow batteries applications roadmap.   69
  • Figure 6. Global revenues for flow batteries, 2018-2034, by type (millions USD).  94
  • Figure 7. Global revenues for flow batteries, 2018-2034, by end-use market (millions USD).           96
  • Figure 8. Global revenues for flow batteries, 2018-2034, by region (millions USD).              97
  • Figure 9. Rongke Power 400 MWh VRFB.               105
  • Figure 10. Schematic of the quinone flow battery.             121
  • Figure 11. VFlowTech’s PowerCube.        128

 

 

Start-up and academic discounts available. Contact info@futuremarketsinc.com

The Global Market for Flow Batteries 2024-2034
The Global Market for Flow Batteries 2024-2034
eBook (Instant download).
Price: £1,000.00

The Global Market for Flow Batteries 2024-2034
The Global Market for Flow Batteries 2024-2034
eBook and Hard Copy (Including tracked FEDEX delivery).
Price: £1,050.00

Payment methods: Visa, Mastercard, American Express, Paypal, Bank Transfer. 

To purchase by invoice (bank transfer) contact info@futuremarketsinc.com or select Bank Transfer (Invoice) as a payment method at checkout.

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