Global Flow Battery Market, Forecast to 2023

Global Flow Battery Market, Forecast to 2023

Utility-scale Projects by Vanadium Redox Chemistry Dominate the Market Accounting for Over 80% of Revenue

RELEASE DATE
27-Sep-2017
REGION
Global
Research Code: MCD1-01-00-00-00
SKU: EG01826-GL-MR_20866
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Description

The importance of utility-based energy storage is driving demand for multiple options of efficient, cost-effective, and long standing storage solutions. The flow battery, with all its attractive features, is to become the most preferred chemistry for utility-based storage. Thus, the global flow battery market will witness a steady growth in unit volume and revenue till 2023. The market is mainly driven by utility-scale energy storage systems, followed by commercial and industrial units that are remote off-grid or grid-connected microgrid installations. Supportive regulatory policies aiding energy storage in the United States, Europe, and Asia (mainly China, India, Japan, and Australia) drive market growth.

The need for ramping up to mass volume production and the stringent competition from lithium-ion solutions are challenging market growth. However, increasing investments to raise unit volume production and affordability with low OPEX make this chemistry capable of facing these challenges successfully. This market is likely to generate more than a billion in revenue in 2023. The market trends have been analyzed for the study period of 2015–2023, with the base year being 2016. The study covers all of North America, Europe, Asia-Pacific, and the Rest of the World. Vanadium redoxide is likely to continue its domination in the number of installations throughout the forecast period.

The study assesses flow battery manufacturers globally and discusses the various market shares held by the companies in this market. Asian companies are focusing on this chemistry by direct participation in this market, in addition to acquiring start-ups with strong growth potential. Companies that are listed in this study include Sumitomo Electric, Primus Power, Rongke Power, UniEnergy Technologies, Vanadis, RedT, Glidemeister, ViZn, Redflow, and Pu Neng.

Key questions this study will answer.
• Is the market growing, how long will it continue to grow, and at what rate?
• Which are the key end-user applications that use this battery extensively?
• What are the key industries supporting growth? Is there a difference in demand patterns across different countries?
• How will the structure of the market change with time? Is the market ripe for acquisitions?
• How does the demand pattern for different flow battery chemistries vary globally according to end-user applications?
• Are the vendors in this space ready to manage alone, or do they need partnerships to take their businesses to the next level?

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Market Engineering Measurements

CEO’s Perspective

Market Definitions

Market Segmentation

Market Drivers

Market Restraints

Market Engineering Measurements

Unit Shipment and Revenue Forecast

Pricing Trends and Forecast

Revenue Forecast by Region

Global Hot Spots

Revenue Forecast by Battery Chemistry

Market Share

Market Share Analysis

Competitive Environment

Key Participants by Region

Growth Opportunity 1—Utility-scale Energy Storage

Growth Opportunity 2—Remote Power Installations

Growth Opportunity 3—Geographic Expansion

Strategic Imperatives for Success and Growth

End-user Segment Key Findings—Utility

End-user Segment—Factors Influencing Battery Choice

Market Engineering Measurements

Revenue Forecast

Flow Batteries for Utility-scale

End-user Segment Key Findings—Commercial and Industrial

Market Engineering Measurements

Revenue Forecast

End-user Segment Key Findings—Others

Market Engineering Measurements

Revenue Forecast

North America—Key Findings

Key Country Profile—The United States

North America Flow Battery Market—Revenue Forecast

North America Flow Battery Market—Revenue Forecast by Battery Chemistry

Europe—Key Findings

Key Country Profiles—Germany

Key Country Profiles—The United Kingdom

Europe Flow Battery Market—Revenue Forecast

Europe Flow Battery Market—Revenue Forecast by Battery Chemistry

Asia-Pacific—Key Findings

Key Country Profile—Australia

Key Country Profile—China

Key Country Profile—Japan

Asia-Pacific Flow Battery Market—Revenue Forecast

Revenue Forecast by Battery Chemistry

Rest of the World—Key Findings

Rest of the World Flow Battery Market—Revenue Forecast

Rest of the World Flow Battery Market—Revenue Forecast by Battery Chemistry

3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Companies in?”Others”

Learn More—Next Steps

List of Figures
  • 1. Total Flow Battery Market: Key Market Drivers, Global, 2017–2023
  • 2. Total Flow Battery Market: Projects Above 10MWh Capacity, Global, 2016
  • 3. Total Flow Battery Market: Key Market Restraints, Global, 2017–2023
  • 4. Total Flow Battery Market: Battery Chemistry Applications, Global, 2016
  • 5. Total Flow Battery Market: Market Stage Analysis, Global, 2016
  • 6. Total Flow Battery Market: Market Engineering Measurements, Global, 2016
  • 7. Total Flow Battery Market: Revenue Forecast By Region, Global, 2015–2023
  • 8. Total Flow Battery Market: Competitive Structure, Global, 2016
  • 9. Utility Segment: Market Engineering Measurements, Global, 2016
  • 10. Utility Segment: Key Market Technologies, Global, 2016
  • 11. Commercial and Industrial Segment: Market Engineering Measurements, Global, 2016
  • 12. Others Segment: Market Engineering Measurements, Global, 2016
List of Charts
  • 1. Total Flow Battery Market: Market Engineering Measurements, Global, 2016
  • 2. Total Flow Battery Market: Percent Revenue Breakdown by End-user Application, Global, 2016
  • 3. Total Flow Battery Market: Percent Revenue Breakdown by Chemistry, Global, 2016
  • 4. Total Flow Battery Market: Installed Capacity, Global, 2014–2016
  • 5. Total Flow Battery Market: Unit Shipment and Revenue Forecast, Global, 2015–2023
  • 6. Total Flow Battery Market: Pricing Trend Comparison, Global, 2016 and 2023
  • 7. Total Flow Battery Market: Revenue Forecast by Battery Chemistry, Global, 2015–2023
  • 8. Total Flow Battery Market: Percent Revenue Breakdown, Global, 2014–2016
  • 9. Total Flow Battery Market: Factors Influencing Battery Choice for Utility-scale Storage, Global, 2016
  • 10. Utility Segment: Revenue Forecast, Global, 2015–2023
  • 11. Commercial and Industrial Segment: Revenue Forecast, Global, 2015–2023
  • 12. Others Segment: Revenue Forecast, Global, 2015–2023
  • 13. Flow Battery Market: Revenue Forecast, North America, 2015–2023
  • 14. Flow Battery Market: Revenue Forecast by Battery Chemistry, North America, 2015–2023
  • 15. Flow Battery Market: Revenue Forecast by Battery Chemistry, North America, 2016 and 2023
  • 16. Flow Battery Market: Revenue Forecast, Europe, 2015–2023
  • 17. Flow Battery Market: Revenue Forecast by Battery Chemistry, Europe, 2015–2023
  • 18. Flow Battery Market: Revenue Forecast by Battery Chemistry, Europe, 2016 and 2023
  • 19. Flow Battery Market: Revenue Forecast, Asia-Pacific, 2016–2023
  • 20. Flow Battery Market: Revenue Forecast by Battery Chemistry, Asia-Pacific, 2015–2023
  • 21. Flow Battery Market: Revenue Forecast by Battery Chemistry, Asia-Pacific, 2016 and 2023
  • 22. Total Flow Battery Market: Revenue Forecast, Rest of the World, 2016–2023
  • 23. Flow Battery Market: Revenue Forecast by Battery Chemistry, Rest of the World, 2015–2023
  • 24. Total Flow Battery Market: Revenue Forecast by Battery Chemistry, Rest of the World, 2016 and 2023
Related Research
The importance of utility-based energy storage is driving demand for multiple options of efficient, cost-effective, and long standing storage solutions. The flow battery, with all its attractive features, is to become the most preferred chemistry for utility-based storage. Thus, the global flow battery market will witness a steady growth in unit volume and revenue till 2023. The market is mainly driven by utility-scale energy storage systems, followed by commercial and industrial units that are remote off-grid or grid-connected microgrid installations. Supportive regulatory policies aiding energy storage in the United States, Europe, and Asia (mainly China, India, Japan, and Australia) drive market growth. The need for ramping up to mass volume production and the stringent competition from lithium-ion solutions are challenging market growth. However, increasing investments to raise unit volume production and affordability with low OPEX make this chemistry capable of facing these challenges successfully. This market is likely to generate more than a billion in revenue in 2023. The market trends have been analyzed for the study period of 2015–2023, with the base year being 2016. The study covers all of North America, Europe, Asia-Pacific, and the Rest of the World. Vanadium redoxide is likely to continue its domination in the number of installations throughout the forecast period. The study assesses flow battery manufacturers globally and discusses the various market shares held by the companies in this market. Asian companies are focusing on this chemistry by direct participation in this market, in addition to acquiring start-ups with strong growth potential. Companies that are listed in this study include Sumitomo Electric, Primus Power, Rongke Power, UniEnergy Technologies, Vanadis, RedT, Glidemeister, ViZn, Redflow, and Pu Neng. Key questions this study will answer. • Is the market growing, how long will it continue to grow, and at what rate? • Whic
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Table of Contents | Executive Summary~ || Key Findings~ || Market Engineering Measurements~ || CEO’s Perspective~ | Market Overview~ || Market Definitions~ || Market Segmentation~ | Drivers and Restraints—Total Flow Battery Market~ || Market Drivers~ || Market Restraints~ | Forecasts and Trends—Total Flow Battery Market~ || Market Engineering Measurements~ || Unit Shipment and Revenue Forecast~ || Pricing Trends and Forecast~ || Revenue Forecast by Region~ || Global Hot Spots~ || Revenue Forecast by Battery Chemistry~ | Market Share And Competitive Analysis— Total Flow Battery Market~ || Market Share~ || Market Share Analysis~ || Competitive Environment~ || Key Participants by Region~ | Growth Opportunities and Companies to Action~ || Growth Opportunity 1—Utility-scale Energy Storage~ || Growth Opportunity 2—Remote Power Installations~ || Growth Opportunity 3—Geographic Expansion~ || Strategic Imperatives for Success and Growth~ | Utility Segment Analysis~ || End-user Segment Key Findings—Utility~ || End-user Segment—Factors Influencing Battery Choice~ || Market Engineering Measurements~ || Revenue Forecast~ || Flow Batteries for Utility-scale~ | Commercial and Industrial Segment Analysis~ || End-user Segment Key Findings—Commercial and Industrial~ || Market Engineering Measurements~ || Revenue Forecast~ | Others Segment Analysis~ || End-user Segment Key Findings—Others~ || Market Engineering Measurements~ || Revenue Forecast~ | North America Analysis~ || North America—Key Findings~ || Key Country Profile—The United States~ || North America Flow Battery Market—Revenue Forecast~ || North America Flow Battery Market—Revenue Forecast by Battery Chemistry~ | Europe Analysis~ || Europe—Key Findings~ || Key Country Profiles—Germany~ || Key Country Profiles—The United Kingdom~ || Europe Flow Battery Market—Revenue Forecast~ || Europe Flow Battery Market—Revenue Forecast by Battery Chemistry~ | Asia-Pacific Analysis~ || Asia-Pacific—Key Findings~ || Key Country Profile—Australia~ || Key Country Profile—China~ || Key Country Profile—Japan~ || Asia-Pacific Flow Battery Market—Revenue Forecast~ || Revenue Forecast by Battery Chemistry~ | Rest of the World Analysis~ || Rest of the World—Key Findings~ || Rest of the World Flow Battery Market—Revenue Forecast~ || Rest of the World Flow Battery Market—Revenue Forecast by Battery Chemistry~ | The Last Word~ || 3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || List of Companies in?”Others”~ || Learn More—Next Steps~
List of Charts and Figures 1. Total Flow Battery Market: Key Market Drivers, Global, 2017–2023~ 2. Total Flow Battery Market: Projects Above 10MWh Capacity, Global, 2016~ 3. Total Flow Battery Market: Key Market Restraints, Global, 2017–2023~ 4. Total Flow Battery Market: Battery Chemistry Applications, Global, 2016~ 5. Total Flow Battery Market: Market Stage Analysis, Global, 2016~ 6. Total Flow Battery Market: Market Engineering Measurements, Global, 2016~ 7. Total Flow Battery Market: Revenue Forecast By Region, Global, 2015–2023~ 8. Total Flow Battery Market: Competitive Structure, Global, 2016~ 9. Utility Segment: Market Engineering Measurements, Global, 2016~ 10. Utility Segment: Key Market Technologies, Global, 2016~ 11. Commercial and Industrial Segment: Market Engineering Measurements, Global, 2016~ 12. Others Segment: Market Engineering Measurements, Global, 2016~| 1. Total Flow Battery Market: Market Engineering Measurements, Global, 2016~ 2. Total Flow Battery Market: Percent Revenue Breakdown by End-user Application, Global, 2016~ 3. Total Flow Battery Market: Percent Revenue Breakdown by Chemistry, Global, 2016~ 4. Total Flow Battery Market: Installed Capacity, Global, 2014–2016~ 5. Total Flow Battery Market: Unit Shipment and Revenue Forecast, Global, 2015–2023~ 6. Total Flow Battery Market: Pricing Trend Comparison, Global, 2016 and 2023~ 7. Total Flow Battery Market: Revenue Forecast by Battery Chemistry, Global, 2015–2023~ 8. Total Flow Battery Market: Percent Revenue Breakdown, Global, 2014–2016~ 9. Total Flow Battery Market: Factors Influencing Battery Choice for Utility-scale Storage, Global, 2016~ 10. Utility Segment: Revenue Forecast, Global, 2015–2023~ 11. Commercial and Industrial Segment: Revenue Forecast, Global, 2015–2023~ 12. Others Segment: Revenue Forecast, Global, 2015–2023~ 13. Flow Battery Market: Revenue Forecast, North America, 2015–2023~ 14. Flow Battery Market: Revenue Forecast by Battery Chemistry, North America, 2015–2023~ 15. Flow Battery Market: Revenue Forecast by Battery Chemistry, North America, 2016 and 2023~ 16. Flow Battery Market: Revenue Forecast, Europe, 2015–2023~ 17. Flow Battery Market: Revenue Forecast by Battery Chemistry, Europe, 2015–2023~ 18. Flow Battery Market: Revenue Forecast by Battery Chemistry, Europe, 2016 and 2023~ 19. Flow Battery Market: Revenue Forecast, Asia-Pacific, 2016–2023~ 20. Flow Battery Market: Revenue Forecast by Battery Chemistry, Asia-Pacific, 2015–2023~ 21. Flow Battery Market: Revenue Forecast by Battery Chemistry, Asia-Pacific, 2016 and 2023~ 22. Total Flow Battery Market: Revenue Forecast, Rest of the World, 2016–2023~ 23. Flow Battery Market: Revenue Forecast by Battery Chemistry, Rest of the World, 2015–2023~ 24. Total Flow Battery Market: Revenue Forecast by Battery Chemistry, Rest of the World, 2016 and 2023~
Author Suba Arunkumar
Industries Energy
WIP Number MCD1-01-00-00-00
Is Prebook No