Global Flow Battery Market, Forecast to 2023

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

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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?

Table of Contents

1. Executive Summary
Key Findings
Market Engineering Measurements
CEO’s Perspective
2. Market Overview
Market Definitions
Market Segmentation
3. Drivers and Restraints—Total Flow Battery Market
Market Drivers
Market Restraints
4. 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
5. Market Share And Competitive Analysis— Total Flow Battery Market
Market Share
Market Share Analysis
Competitive Environment
Key Participants by Region
6. 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
7. 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
8. Commercial and Industrial Segment Analysis
End-user Segment Key Findings—Commercial and Industrial
Market Engineering Measurements
Revenue Forecast
9. Others Segment Analysis
End-user Segment Key Findings—Others
Market Engineering Measurements
Revenue Forecast
10. 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
11. 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
12. 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
13. 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
14. The Last Word
3 Big Predictions
Legal Disclaimer
15. Appendix
Market Engineering Methodology
List of Companies in?”Others”
Learn More—Next Steps

Infographic



List of Figures & Charts

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



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