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Flow Battery Market By Type (Redox Flow Battery and Hybrid Flow Battery), Material (Zinc–Bromine, Hydrogen-Bromine, All Vanadium, All Iron, Polysulfide Bromine, Organic, and Others), Storage (Large Scale, and Compact), Industry Vertical (Commercial & Industrial, Telecommunication, Automotive, Military, Utilities EV Charging Station, Off Grid & Microgrid Power, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09801
Pages: NA
Aug 2021 | 428 Views
 
Author(s) : NA
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COVID-19

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Flow Battery Market Outlook - 2027

The global flow battery market size is experiencing a significant growth and is expected to grow considerably in the next few years. Worldwide financial development with expanding arrival of carbon dioxide disturbs ecosphere and causes huge effects on environmental change. A nature friendly course to produce power from sustainable sources, for instance, solar and wind is desirable. Hence, to boost use of sustainable and renewable energy to improve stability of grid networks, energy storage systems are needed to store surplus electricity. The deposited energy can be then distributed to end clients. Therefore, electrochemical energy storage with rechargeable batteries built on redox chemistry can offer a central resolution to handle such issues. Cost, framework adaptability, safety concerns, and quick response for huge scope applications, redox flow batteries show extraordinary result over different types of batteries, for example, lithium-ion and lead-acid batteries and are projected to have expanding business space through industrial improvement in the future.

The global flow battery market is segmented on the basis of Type, Material, Storage, Industry Vertical, and Region. Based on Type, the market is divided into Redox Flow Battery and Hybrid Flow Battery, and others. On the basis of Material, the market is categorized into Zinc–Bromine, Hydrogen-Bromine, All Vanadium, All Iron, Polysulfide Bromine, Organic, and others, and others. on the basis of  Storage into Large Scale, and Compact. on the basis of Industry Vertical into Commercial & Industrial, Telecommunication, Automotive, Military, Utilities EV Charging Station, Off Grid & Microgrid Power, and Others and Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global Flow Battery industry include Major players analyzed include Lockheed, ViZn Energy Systems, UniEnergy Technologies., Sumitomo Electric Industries Ltd, GILDEMEISTER energy solutions., ESS Inc, Primus Power, Lockheed Martin, Redflow Limited, Elestor., JenaBatteries GmbH, Volterion, VoltStorage GmbH, H2 Inc., nanoFlowcell AG, Pu Neng Century Technology Co., Ltd.,  Kemwatt.. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

COVID-19 scenario Analysis: 

  • The global industry has been significantly impacted by the COVID-19 outbreak. Due to the ongoing worldwide lockdown, the market is estimated to observe a sluggish growth.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand are gradually going to increase. 
  • As an effect, a notable decline in the non-volatile flow battery sales and demand globally has been observed. Moreover, owing to increase in conflicts between two large economies, such as imposition of heavy tariff in the U.S. on several electronic products imported from China, which is further expected to hamper the flow battery market share.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Governments across the globe support renewable energy to preserve non-renewable energy resources such as coal, natural gas, and oil. In addition, rise in technological progresses in the telecom business lead to growth in setting up of towers fixed with increasing acceptance of flow batteries in electric vehicles, which boost the flow battery market growth. On the basis of type, the redox segment is expected to lead the market throughout the forecast period, owing to rise in demand for redox flow battery in utilities, industrial, and commercial applications. On the basis of material, the vanadium segment is likely to lead the market during the forecast period, owing to its usage in telecommunications, EV charging station, microgrid, and military applications.

Surge in usage in automotive and industrial applications 

From industry vertical point of view, the flow battery market is split into various types, which include automobile, telecommunication, industrial, and military & defense. In 2016, the automobile and telecommunication industry gathered a main share in the end-use industry segment of the global market. It happens mainly due to increase in adoption of hybrid vehicles and rise in telecommunication tower installations, which use flow battery as alternate power energy back up. Also, growing demand from utility areas and characteristic usage of flow battery in industrial applications are enhancing the global market growth. Rise in investments in defense & military applications, government funding and investments in R&D is projected to drive the flow battery market. However, absence of appropriate standards for manufacturing of flow batteries hinders the global flow battery market growth.

Key segments covered:

Segments

Subsegments

  Type

  • Redox Flow Battery
  • Hybrid Flow Battery

  Material

  • Zinc–Bromine
  • Hydrogen-Bromine
  • All Vanadium
  • All Iron
  • Polysulfide Bromine
  • Organic
  • Others

  Storage

  • Large Scale
  • Compact

  Industry Vertical

  • Commercial & Industrial
  • Telecommunication
  • Automotive
  • Military
  • Utilities
  • EV Charging Station
  • Off Grid & Microgrid Power
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Flow Battery industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed global market analysis.
  • The flow battery market trends are quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global flow battery market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Material, Storage, Industry Vertical, and Region

  Regions covered

North America (US, Canada, and Mexico), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia and the Rest of Asia Pacific), and LAMEA (Latin America, Middle East and Africa)

  Companies covered

Major players analyzed include Lockheed, ViZn Energy Systems, UniEnergy Technologies., Sumitomo Electric Industries Ltd, GILDEMEISTER energy solutions., ESS Inc, Primus Power, Lockheed Martin, Redflow Limited, Elestor., JenaBatteries GmbH, Volterion, VoltStorage GmbH, H2 Inc., nanoFlowcell AG, Pu Neng Century Technology Co., Ltd., Kemwatt.

 

Questions answered in the Flow Battery Market research report:

  • Who are the leading market players active in the flow battery market forecast?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the flow battery market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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