(MENAFN- GetNews) According to the latest report "Flow Batteries Market by Product Type (Redox & Hybrid), Material Type (Vanadium & Zinc-Bromine), Storage Type (Compact & Large-Scale), Application (Industrial & Commercial, Defense, Utilities), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, & South America) with Forecast To 2023, published by Market Research Future, The Global Flow Battery Market is expected to grow at 30.68% CAGR during the forecast period.
Flow Batteries Market Highlights:
The key players of the global flow battery market are ESS Inc. (US), Gildemeister energy solutions (Austria), Redflow Limited. (Australia), Primus Power (US), redT energy plc. (UK), Sumitomo Electric Industries, Ltd. (Japan), ViZn Energy Systems. (US), EnSync Energy Systems (US), Schmid (Germany), and Elestor (Europe).
Get Free Sample Report At: https://www.marketresearchfuture.com/sample_request/6620
Flow Batteries Market Drivers and Restraints:
Increased investment in renewable energy from government and non-government organizations support the market. Additionally, governments across the globe are formulating policies to encourage the use of renewable sources of energy, due to their storage benefits and energy security. Therefore, the global flow battery market is expected to grow during the forecast period owing to the rising demand in energy utilities, industries, and commercial segments.
These electrolytes are easy to replace, which makes flow batteries more convenient that the lead-acid, lithium-ion, or solid-state batteries. The growing demand for flow batteries can be attributed to the number of renewable sources of energy and the high consumption of electrical energy in North America. For instance, utility companies are shifting toward the use of flow batteries in storage devices. The growth of renewable energy (solar, wind, tidal) increases the number of flow battery applications.
Global Flow Batteries Market Segments Analysis:
Global flow battery market has been segmented on the basis of product type, material type, storage type, application, and region.
Based on product type, the market has been classified into redox and hybrid. Redox segment is leading the market and has the largest market share, mainly due to the higher flexibility and reliability in energy storage in power stations and grid operations.
On the basis of material type, it has been segmented as vanadium and zinc-bromine. Based on storage type, the segments are compact and large scale. Various applications such as industrial, commercial utilities are adopting large-scale storage devices due to its efficiency in operations, across the world.
The global flow battery market has been segmented on the basis of application into industrial & commercial segments, defense, utilities and others. The commercial segment of the global flow battery market is expected to have the highest growth rate during the forecast period.
Global Flow Batteries Market Regional Analysis:
Asia-Pacific is expected to be the largest and fastest-growing market. Flow battery market is expected to grow in the Asia-Pacific countries dramatically, due to the increasing application of storage devices in renewable energy. Many countries are revising their policies and regulations to integrate flow batteries with renewable energy, due to higher reliability and efficiency in operation. R & D in energy storage methods such as flow batteries is focused on solving issues related to the mismatch between demand & supply gap and the intermittent nature associated with renewable energy sources. A flow battery involves the safety of storing the active materials separated from the reactive point source, fast response time, high electricity-to-electricity conversion capability, low maintenance, tolerance to overcharge and over discharge. Such advantages over conventional batteries drive the market growth.
The North American market held the largest share of the global flow battery market in 2017 while Asia-Pacific is expected to dominate during the forecast period, mainly due to the rising demand for renewable sources of energy. Asia-Pacific is also projected to be the fastest-growing market during the forecast period due to the high investments in infrastructure development and commercial applications.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER'S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 BARGAINING POWER OF SUPPLIERS
3.1.4 THREAT OF SUBSTITUTES
3.1.5 SEGMENT RIVALRY
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Continued…
LIST OF TABLES:
TABLE 1 GLOBAL FLOW BATTERY MARKET: BY REGION, 20182023
TABLE 2 NORTH AMERICA FLOW BATTERY MARKET: BY COUNTRY, 20182023
TABLE 3 EUROPE FLOW BATTERY MARKET: BY COUNTRY, 20182023
TABLE 4 ASIA-PACIFIC FLOW BATTERY MARKET: BY COUNTRY, 20182023
TABLE 5 REST OF THE WORLD FLOW BATTERY MARKET: BY COUNTRY, 20182023
TABLE 6 GLOBAL FLOW BATTERY MARKET BY TYPE: BY REGIONS, 20182023
Continued…
LIST OF FIGURES:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP-DOWN & BOTTOM-UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER'S FIVE FORCES ANALYSIS
FIGURE 7 SUPPLY CHAIN ANALYSIS
FIGURE 8 GLOBAL FLOW BATTERY MARKET SHARE, BY TYPE, 2016 (%)
FIGURE 9 GLOBAL FLOW BATTERY MARKET, TYPE, 20182023 (USD MILLION)
Continued…
Browse More Information On Report at: https://www.marketresearchfuture.com/reports/flow-battery-market-6620
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/flow-battery-market-6620
MENAFN2404201900703268ID1098434399