Global Flow Battery Market 2019 to 2025
発行: Orion Market Research Pvt Ltd
Global Flow Battery Market Size, Share & Trends Analysis Report by Material (Vanadium, Zinc-Bromine, and Others), by Application (Commercial and Industrial, Military, Automotive, and Others) and Forecast, 2019 - 2025
Flow batteries are rechargeable batteries having the ability to get instantly recharged by changing the electrolyte liquid. These electrolytes can be easily replaced which makes these batteries more convenient than other batteries such as the lithium-ion battery, lead-acid battery, and other solid-state batteries. The global flow battery market is expected to grow considerably during the forecast period. The market growth is attributed to the increasing investment from government and non-government organizations in renewable energy. Further, there is an increasing demand for flow batteries in energy utilities, industries, and commercial segments, which further gives a boost to the growth of the market.
The global flow battery market is segmented on the basis of material and application. On the basis of material, the market is further segmented into vanadium, zinc-bromine, and others. Further, on the basis of application, the market is segmented into commercial and industrial, military, automotive, and others. The utility sector is one of the applications of flow batteries. Utility companies are shifting their focus towards flow batteries in storage devices. Further, increasing penetration of renewable energy across the grid has increased the need for flexible, efficient and long operating life energy storage solutions.
Geographically, the study of the global flow battery market report covers the analysis of four major regions; North America (US, Canada), Europe (UK, Germany, Italy, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of the World (RoW). Europe is estimated to hold a substantial market share in the global flow battery market due to the growing demand for renewable projects and governmental support for green energy. Moreover, Asia-Pacific is expected to accelerate at a considerable rate during the forecast period. Significant investment in China, Japan, India, and ASEAN countries is contributing to the remarkable growth of the region.
Moreover, the report covers the analysis of several players operating in the market. Some of the major market players in the global flow battery market include Sumitomo Electric Industries, Ltd., redT energy PLC, RedFlow Ltd., EnSync Energy Systems, ViZn Energy Inc., and many others.
The market study of the global flow battery market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for flow battery manufacturers, distributors and traders, electronic component companies, research institutes, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.