New York, NY -- (SBWire) -- 02/05/2021 --The increasing cases of unreliable power sources and abandoned government power plants have created a demand for better solutions and alternatives in the present world. A flow battery is a storage device with an advanced combination of a conventional battery and fuel cell. With the concept of renewable energy coming into action, these batteries are preferred by consumers for micro-grid utilization as they come with various features, including the extended lifetime of approximately twenty years and easy substitution of electrolytes when compared to lithium-ion or solid-state batteries. 

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Leading Players Profiled in the Report Include:

EnerVault (U.S.)
Vanadis Power GmbH (Germany)
Vionx Energy Corporation (U.S)
I-Pulse Inc. (U.S)
Redflow Energy Storage Solutions (Australia)
UniEnergy Technologies, LLC. (U.S)
SCHMID (Germany)
Sumitomo Electric Industries, Ltd (Japan)
ESS, Inc. (U.S)
ViZn Energy, Inc. (U.S)

Market Drivers

The growing demand for alternate energy solutions in the telecommunication, aerospace, and defense industry has led to an increase in flow battery usage due to its property of high-speed recharge and availability of redox as well as a hybrid product. Increasing public and private sector investments towards efficient electrical alternatives is one of the main drivers to the market, with governments of different countries promoting flow battery usage in large scale electric grids for integrating diverse renewable energy sources. Flow batteries have reduced discharge abilities that prevent wastage of energy. The automotive industry actively contributes to revenue growth with the introduction of electric vehicles in the market that requires advanced energy sources. Furthermore, extensive supply in the military and industrial sectors adds to the list of growth factors in the forecasted period.

Regional Analysis

According to research by Reports and Data, North America occupied the most extensive industry share in the flow battery market and is expected to show a constant development in the coming decade owing to technological developments in the region. The Asia Pacific market will also actively contribute towards growth due to the rising demand for flow batteries in the flourishing automotive industry in Japan and China. 

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Flow battery Market: Segmentation

By Type,

Redox
Hybrid

By Application,

Utilities
Commercial
Industrial
Military
EV Charging Station
Off Grid & Microgrid Power
Others

Regional Analysis includes:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Key Points of the Report:

Market Overview: This section of the report offers actionable insights into the global Flow Battery market, encompassing the historical and future timelines, key dynamics, latest market trends, growth trajectories, and the future market scope. It highlights the principal market segments, including the main product types, application gamut, end-user industries, and regional spectrum.

Executive Summary: In this section of the report, a comprehensive assessment of the competitive landscape of the market, regional mapping, CAGR, and various crucial parameters like key market drivers, restraints, trends, challenges, and growth prospects.

COVID-19 Impact Analysis: The report closely analyzes the impact of the COVID-19 pandemic on numerous aspects of the Flow Battery industry, such as production capacity, consumption rate, import-export status, demand & supply ratio, and the estimated revenue generation of each regional segment.

Competitive Landscape: This segment of the report systematically profiles the leading companies functioning in the Flow Battery industry. Moreover, the report emphasizes the global market value & volume, product portfolios, production capacity, and other vital aspects of these companies.

Highlights of the TOC:

Report Overview

1.1 Research Scope

1.2 Key Flow Battery market segments

1.3 Major players

1.4 Market analysis by product

1.5 Market analysis by application

1.6 Report timeline

Global Growth Trends

2.1 Global Flow Battery market size

2.2 Latest Flow Battery market trends

2.3 Key growth trends

Competitive Landscape

3.1 Global Flow Battery market key players

3.2 Global Flow Battery size by manufacturers

3.3 Products of major players

3.4 Entry barriers in the Flow Battery market

3.5 Mergers, acquisitions, joint ventures, and strategic alliances

Continue…

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