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Demand for Longer duration Storage will Drive Future Growth Potential
16-Aug-2023
Global
Market Research
PEFE-01-00-00-00
TEMP_2023_90
This study provides a broad overview of the global stationary flow battery energy storage market, identifying the factors driving and restraining growth. The increasing adoption of renewable sources of power, particularly in the utilities and commercial and industrial (C&I) sectors, has driven the demand for long-duration energy storage systems. Flow batteries for energy storage make economic sense in many countries that have access to the resources used in electrolytes. They have gained attention for the advantages (non-flammability, long lifecycles, etc.) they provide over lithium batteries. The study also examines the investment commitments towards the development of flow batteries made by the stakeholders in the industry. The base year is 2022, and the forecast period is 2023 to 2030.
Key Issues Addressed:
- What is the value proposition of flow battery energy storage as long-duration energy storage?
- What are the advantages and disadvantages of the different types of flow batteries? How do they compare with the advantages and disadvantages of lithium batteries?
- What is the installed capacity of flow battery storage assets globally, and what is the total storage capacity addition potential by region and storage type during the forecast period?
- Who are the key end users, and what are some of the flow battery hotspots globally?
- What are the factors considered when adopting energy storage technologies?
- What degree of policy support is available for value chain participants in different regions across the globe?
- Who are the key players in the vanadium flow battery value chain?
- What are the growth opportunities available for new entrants and existing players?
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Stationary Flow Battery Energy Storage Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Findings
Scope of Analysis
Flow Battery Energy Storage Use Cases
Key Considerations in Choice of Energy Storage
Energy Storage Technology Ecosystem
Comparison of Alternatives to Flow Batteries
Types of Flow Batteries
Key Flow Battery Chemistries Compared with Li-ion
Growth Drivers
Growth Restraints
Annual Flow Battery Energy Storage Capacity Addition by Region
Annual Flow Battery Energy Storage Capacity Addition by End User
Annual Flow Battery Energy Storage Capacity Addition by Flow Battery Type
Installed Flow Battery Energy Storage Capacity by Flow Battery Type
VRFBs
Annual VRFB Storage Capacity Addition by Region
Annual VRFB Storage Capacity Addition by End User
Competitive Landscape
Key VRFB Manufacturers—Europe & North America
Key VRFB Manufacturers—China & East Asia
Key VRFB Manufacturers—China & East Asia (continued)
Status of VRFB
CellCube Inc.
IFBs
ESS Inc.
ZFBs
Redflow Limited
H-Br FBs
Organic RFBs
Other New Chemistries
Europe
North America
China
APAC
RoW
Growth Opportunity 1: Electrolyte-as-a-Service
Growth Opportunity 1: Electrolyte-as-a-Service (continued)
Growth Opportunity 2: Strategic Partnerships
Growth Opportunity 2: Strategic Partnerships (continued)
Growth Opportunity 3: Advanced Materials and Electrolyte Efficiency
Growth Opportunity 3: Advanced Materials and Electrolyte Efficiency (continued)
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Flow Battery Energy Storage: Growth Drivers, Global, 2023-2030
- Flow Battery Energy Storage: Growth Restraints, Global, 2023-2030
- Flow Battery Energy Storage: Annual Additions by Region, Global, 2022-2030
- Flow Battery Energy Storage: Annual Additions by End User, Global, 2022-2030
- Flow Battery Energy Storage: Annual Additions by Type, Global, 2022-2030
- Flow Battery Energy Storage: Installed Capacity by Type, Global, 2022-2030
- Flow Battery Energy Storage: VRFB Annual Additions by Region, Global, 2022-2030
- Flow Battery Energy Storage: VRFB Annual Additions by End User, Global, 2022-2030
- Flow Battery Energy Storage: IFB Total Potential Additions by Region, Global, 2023-2030
- Flow Battery Energy Storage: IFB Annual Additions by End User, Global, 2022-2030
- Flow Battery Energy Storage: ZFB Annual Additions by End User, Global, 2022-2030
- Flow Battery Energy Storage: ZFB Total Potential Additions by Region, Global, 2023-2030
- Flow Battery Energy Storage: H-Br total Potential Additions by Region, Global, 2023-2030
- Flow Battery Energy Storage: Total Potential Additions by Type, Europe, 2023-2030
- Flow Battery Energy Storage: Total Potential Additions by Type, North America, 2023-2030
- Flow Battery Energy Storage: Total Potential Additions by Type, China, 2023-2030
- Flow Battery Energy Storage: Total Potential Additions by Type, APAC, 2023-2030
- Flow Battery Energy Storage: Annual Additions by End User, RoW, 2022-2030
- Flow Battery Energy Storage: Total Potential Additions by Type, RoW, 2023-2030
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Key Issues Addressed:
- What is the value proposition of flow battery energy storage as long-duration energy storage?
- What are the advantages and disadvantages of the different types of flow batteries? How do they compare with the advantages and disadvantages of lithium batteries?
- What is the installed capacity of flow battery storage assets globally, and what is the total storage capacity addition potential by region and storage type during the forecast period?
- Who are the key end users, and what are some of the flow battery hotspots globally?
- What are the factors considered when adopting energy storage technologies?
- What degree of policy support is available for value chain participants in different regions across the globe?
- Who are the key players in the vanadium flow battery value chain?
- What are the growth opportunities available for new entrants and existing players?
| Deliverable Type | Market Research |
|---|---|
| Author | Saraswathi Venkatesan |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Stationary Energy Storage Market |
| Keyword 2 | Battery Market Forecast |
| Keyword 3 | Lithium Battery Market |
| List of Charts and Figures | Flow Battery Energy Storage: Growth Drivers, Global, 2023-2030~ Flow Battery Energy Storage: Growth Restraints, Global, 2023-2030~ Flow Battery Energy Storage: Annual Additions by Region, Global, 2022-2030~ Flow Battery Energy Storage: Annual Additions by End User, Global, 2022-2030~ Flow Battery Energy Storage: Annual Additions by Type, Global, 2022-2030~ Flow Battery Energy Storage: Installed Capacity by Type, Global, 2022-2030~ Flow Battery Energy Storage: VRFB Annual Additions by Region, Global, 2022-2030~ Flow Battery Energy Storage: VRFB Annual Additions by End User, Global, 2022-2030~ Flow Battery Energy Storage: IFB Total Potential Additions by Region, Global, 2023-2030~ Flow Battery Energy Storage: IFB Annual Additions by End User, Global, 2022-2030~ Flow Battery Energy Storage: ZFB Annual Additions by End User, Global, 2022-2030~ Flow Battery Energy Storage: ZFB Total Potential Additions by Region, Global, 2023-2030~ Flow Battery Energy Storage: H-Br total Potential Additions by Region, Global, 2023-2030~ Flow Battery Energy Storage: Total Potential Additions by Type, Europe, 2023-2030~ Flow Battery Energy Storage: Total Potential Additions by Type, North America, 2023-2030~ Flow Battery Energy Storage: Total Potential Additions by Type, China, 2023-2030~ Flow Battery Energy Storage: Total Potential Additions by Type, APAC, 2023-2030~ Flow Battery Energy Storage: Annual Additions by End User, RoW, 2022-2030~ Flow Battery Energy Storage: Total Potential Additions by Type, RoW, 2023-2030~ |
| Podcast | No |
| WIP Number | PEFE-01-00-00-00 |
Global Stationary Flow Battery Energy Storage Growth Opportunities
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