Redox Flow Battery Market 2019-2024
A flow battery, or redox flow battery after reduction–oxidation , is a type of rechargeable battery where recharge ability is provided by two chemical components dissolved in liquids contained within the system and separated by a membrane. Ion exchange providing flow of electric current occurs through the membrane while both liquids circulate in their own respective space. Cell voltage is chemically determined by the Nernst equation and ranges, in practical applications, from 1.0 to 2.2 volts. The performance of these devices is governed by the considerations of electrochemical engineering.
North America and Asia-Pacific are the two largest countries with flow batteries Installation Capacity in the world, both the two countries take more than 80% of the world in 2017. Europe behind them, with about 15.09% market share.
There are more than seven main types of flow batteries in mass production or development stage in the market now. Vanadium Flow Battery is the main types, which can occupied about 70 percent revenue market share.
Currently, Sumitomo Electric, Dalian Rongke Power are the top two companies and lead in flow batteries with 29.33% and 19.29% revenue market share in 2017, respectively.
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According to this study, over the next five years the Redox Flow Battery market will register a 14.1% CAGR in terms of revenue, the global market size will reach US$ 280 million by 2024, from US$ 130 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Redox Flow Battery business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Redox Flow Battery market by product type, application, key manufacturers and key regions and countries.
This study considers the Redox Flow Battery value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Vanadium Redox Flow Battery
Hybrid Flow Battery
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Utility Facilities
Renewable Energy Integration
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Gildemeister
Primus Power
red TENERGY Storage
EnSync
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Redox Flow Battery consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Redox Flow Battery market by identifying its various subsegments.
Focuses on the key global Redox Flow Battery manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Redox Flow Battery with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the consumption of Redox Flow Battery submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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