Flow Battery Market Rising Renewable Energy by Top Competitors Lockheed, ViZn Energy Systems, UniEnergy Technologies., Sumitomo Electric Industries Ltd, , Pu Neng Century Technology Co., Ltd., Kemwatt and among others
Global Flow Battery Market is expected to reach USD 1038.3 Million by 2025, from USD 190.87 Million in 2017 growing at a CAGR of 35.7 % during the forecast period of 2018 to 2025.
According to American Association for the Advancement of Science, new type of ‘Flow Battery’ can store 10 times of the energy of the next best device by the use of lithium ion technology. Furthermore in 2018, Lockheed Martin Corp launched flow battery” an inexpensive, nontoxic materials. It helps to save money and use more renewable energy. It uses chemicals which are dissolved in water for last longing than lithium ion batteries.
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In 2018, Voltstorage launched a vanadium-redox-flow (VRF) energy storage system for households called Voltstorage SMART.It can store 6.8kWh of electricity and has a maximum output of 2.0kW and connected in series to create larger capacities.
Major Market Drivers:
- Inherent advantages of flow battery
- Growing investment in renewable energy
- High demand from utilities sector
- Growth in telecommunications tower installations
- High construction cost of flow batteries.
Global Flow Battery Market,
- By Type (Redox, Hybrid),
- By Material (Vanadium, Zinc–Bromine),
- By Storage (Compact, Large Scale),
- By Application (Utilities, Commercial & Industrial, Military, EV Charging Station),
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Major Market Competitors:
Some of the major players operating in the global flow battery market are Lockheed, ViZn Energy Systems, UniEnergy Technologies., Sumitomo Electric Industries Ltd, redT energy plc, GILDEMEISTER energy solutions., ESS Inc, Primus Power, Lockheed Martin, Redflow Limited, Elestor., JenaBatteries GmbH, Volterion, VoltStorage GmbH, H2 Inc., nanoFlowcell AG, Pu Neng Century Technology Co., Ltd., Kemwatt and among others.
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Global Flow Battery Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Flow battery market for global, Europe, North America, Asia pacific and South America.
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
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