Flow Batteries Market Set to Reach $1.3 Billion by 2030, Led by Growth in Vanadium and Zinc-Bromine Sectors

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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