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Report Highlights
The global flow battery market was valued at $344.7 million in 2023. This market is expected to grow from $416.3 million in 2024 to $1.1 billion by the end of 2029, at a compound annual growth rate (CAGR) of 21.7% from 2024 through 2029.
Report Includes
- 51 data tables and 50 additional tables
- An overview of the technical and business aspects of the global market for flow batteries
- Analyses of global market trends, with market revenue data for 2023, estimates for 2024, forecast for 2025 and 2027, and projected CAGRs through 2029
- Estimates of the size and revenue prospects of the global market, along with a market share analysis by battery type, battery material, deployment type, application, end-use, and region
- Facts and figures pertaining to the market dynamics, technical advances, regulations, innovations, and the impact of macroeconomic factors
- Insights from a Porter’s Five Forces model, and global value chain and PESTLE analyses
- Patent analysis, emerging trends and technologies, and new developments
- Analysis of the industry structure, including companies’ market shares and global rankings, strategic alliances, M&A activity and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes and the ESG scores and practices of leading companies
- Company profiles of leading players, including Sumitomo Electric Industries Ltd., Invinity Energy Systems, ESS Tech Inc., Rongke Power and Redflow Ltd.
Report Scope
This report analyzes the flow battery market by battery type, battery material, deployment, application and end-use industries. Additionally, the report discusses the technological, regulatory, competitive and economic trends that impact the market. The analyst has included a patent analysis for the flow battery market, which depicts a strong investment prospect for investors. It analyzes emerging technologies, the impact of COVID-19, and the competitive landscape, which enables the reader to understand the global market. The report concludes by looking at environmental, social and governance (ESG) developments and by providing detailed profiles of the major manufacturers of flow batteries.
The report also includes analysis by region (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa) and by country (the U.S., Germany, the U.K., and China), using 2023 as a base year. Estimates are provided for 2024, and market values are forecast through 2029. All market values are in dollar ($) millions. The report excludes the automotive industry as an end-use industry, specifically the transportation sector, which involves the EV industry.
Report Synopsis
| Report Metrics | Details | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||
| Forecast period considered | 2024 to 2029 | ||||||||||||||
| Base year market size | $344.7 Million | ||||||||||||||
| Market size forecast | $1.1 Billion | ||||||||||||||
| Growth rate | CAGR of 21.7% from 2024 to 2029 | ||||||||||||||
| Units considered | $ Millions | ||||||||||||||
| Segments covered | By Battery Type, Battery Material, Deployment Type, Application, End-Use, and Region | ||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and the Rest of the World (South America and Middle East and Africa) | ||||||||||||||
| Countries covered | United States, Canada, Mexico, Germany, U.K., France, Spain, Italy, Japan, South Korea, China and India | ||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Growing preference of flow batteries over conventional batteries.
- Rising adoption of flow batteries from utilities.
- Increasing renewable power generation.
- By Battery Type.
- By Battery Material.
- By Deployment Type.
- By Application.
- By End-Use.
- By Region.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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Report Highlights
The global market for flow batteries should grow from $288.5 million in 2021 to $1.0 billion by 2026 with a compound annual growth rate (CAGR) of 28.6% for the period of 2021-2026.
Report Includes
- 43 data tables and 11 additional tables
- An overview of the global market for flow batteries
- Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021 and projection of CAGR through 2026
- Market share analysis of flow batteries by type, end use, application, and region, and evaluation of market size and forecast, and detailed analysis of drivers, challenges, and opportunities affecting market growth
- Description of flow batteries functioning that makes them the safest batteries with negligible risk of fire hazards, and discussion on how flow batteries are different from conventional batteries and high-temperature batteries
- Coverage of recent R&D activities and insights into regulations and norms concerning the flow batteries market
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of major players, including Redflow, ESS Inc., Vionx Energy, Unienergy Technologies, EnerVault Corp., Primus Power and Sumitomo Electric Industries Ltd.
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