Flow Battery Market – Global Forecast To 2030
플로우 배터리 시장 – 배터리 타입 (Redox, 하이브리드), 재료 (바나듐, 아연 브롬, 유기, 순철, 브롬화수소), 스토리지 (대규모 및 소규모), 사용 예 (피크 용량, 에너지 이동, 주파수 규제) – 2030년까지의 세계 예측
Flow Battery Market by Battery Type (Redox, Hybrid), Material (Vanadium, Zinc Bromine, Organic, All-iron, Hydrogen Bromine), Storage (Large Scale & Small Scale), Use Cases (Peak Capacity, Energy Shifting, Frequency Regulation) – Global Forecast to 2030
| 조사회사 | MarketsandMarkets |
| 출판년월 | 2024년12월 |
| 페이지 수 | 244 |
| 도표 수 | 290 |
| 라이센스 | Single User License |
| 가격 | USD 4,950 |
| 구성 | 영문조사보고서 |
Report Overview
The global flow battery market is valued at USD 0.34 billion in 2024 and is projected to reach USD 1.18 billion by 2030; it is expected to register a CAGR of 23.0% during the forecast period. Renewable energy storage is a key use of flow batteries. Many nations, including the US, India, China, and Japan, are revising their energy policies to incorporate a significant portion of renewable energy, such as wind and solar. Government support and resulting profits are driving increased investment in renewable energy. Renewable sources are now preferred for expanding and modernizing power systems worldwide. Initiatives like net zero emissions, carbon neutrality, and sustainable transportation are attracting investments in renewable energy generation.
전세계 플로우 배터리 시장은 2024년에 3억 4,000만 달러로 평가되었으며, 2030년까지 11억 8,000만 달러에 이를 것으로 예상됩니다. 예측 기간 동안 23.0%의 CAGR을 기록할 것으로 예상됩니다. 재생 가능 에너지의 저장은 유동 배터리의 주요 용도입니다. 미국, 인도, 중국, 일본을 포함한 많은 국가들은 풍력과 햇빛과 같은 재생 가능 에너지의 대부분을 통합하기 위해 에너지 정책을 검토하고 있습니다.
“Zinc bromine segment is expected to grow at the impressive CAGR during the forecast period.”
Zinc-bromine flow batteries are perfect for energy storage in view of the multiple benefits. Their circulating electrolyte simplifies thermal control and the distribution of reactants throughout the cell. Also, they have wellsuit to specific energy and efficiency energy and can store and transform energy. These batteries are also made of cheap and easily available and those recyclable components are manufactured by means of standard practice. It can run under ambient temperature and have the benefits in the system configuration. Also they possesses satisfactory power density and could charge quickly and can endure deep discharge without getting ailing. Zinc-bromine flow batteries are already on the market so zinc-bromine flow batteries for energy storage solutions are feasible.
“Commercial & industrial segment is likely to hold the second largest market in 2024.”
Commercial & industrial sectors are impacted by the interrupted power supply, machine downtime, and blackouts. These power outages can severely hinder businesses, causing damage to the production lines and products, as well as delaying deliveries. Commercial & industrial energy storage prioritizes safety and cost-effectiveness and often finds flow batteries suitable. Flow batteries offer long cycle life, minimal environmental impact, high energy recovery rate, and large capacity, making them well-suited for extreme environments. Flow battery energy storage is highly suitable for industrial and commercial applications because it facilitates peak-valley spread arbitrage, provides intrinsic safety, and handles large capacity requirements. Flow batteries align well with the pursuit of secure and economical energy storage in industrial and commercial sectors.
“The North America segment is likely to grow at the second highest CAGR during the forecast period.”
The North American flow battery market has been thoroughly researched in regions, including the US, Canada, and Mexico. The US is one of the major contributors to the regional market growth. The regional market growth is owed to the significant presence of industry participants, such as ESS Tech, Inc. (US),
ESS Tech, Inc. (US), Primus Power (US), and Lockheed Martin Corporation (US) are expected to create growth opportunities in the coming years. The companies majorly focus on strategic partnerships, product launches, and continuous developments to increase their product portfolio and fulfill the requirements of various applications.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier 1 – 25%, Tier 2 – 30%, Tier 3 – 45%
- By Designation— C-level Executives – 35%, Directors – 25%, Others – 40%
- By Region—North America – 35%, Europe – 25%, Asia Pacific – 32%, RoW – 8%
The flow battery market is dominated by a few globally established players such as Invinity Energy Systems (UK), Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Enerox GmbH (Austria), Elestor (The Netherlands), ESS Tech, Inc. (US), Largo Inc. (Canada), Lockheed Martin Corporation (US), and Primus Power (US). The study includes an in-depth competitive analysis of these key players in the flow battery market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the flow battery market and forecasts its size by battery type, storage, material, ownership, application, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the flow battery ecosystem.
Key Benefits to Buy the Report:
- Analysis of key drivers (Rising popularity for flow batteries over traditional batteries, Government support for renewable energy storage systems, Growing demand for flow batteries in the utility sector, Increasing deployment of telecom towers), Restraint (Need for significant upfront capital requirements, Standardization challenges associated with flow battery), Opportunity (Growing demand for backup power solutions for data centers, Rising interest in residential energy storage solutions using flow batteries, Growing emphasis on power grid modernizing, Rising demand for advanced battery technologies), Challenges (Availability of alternative battery technologies).
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the flow battery market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the flow battery market across varied regions
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the flow battery market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Invinity Energy Systems (UK), Sumitomo Electric Industries, Ltd. (Japan), VRB Energy (Canada), Enerox GmbH (Austria), ESS Tech, Inc. (US) among others in the flow battery market.
Table of Contents
1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 24
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 24
1.3.2 INCLUSIONS AND EXCLUSIONS 25
1.3.3 YEARS CONSIDERED 26
1.4 CURRENCY CONSIDERED 26
1.5 UNIT CONSIDERED 26
1.6 STAKEHOLDERS 26
1.7 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY AND PRIMARY RESEARCH 29
2.1.2 SECONDARY DATA 30
2.1.2.1 List of key secondary sources 30
2.1.2.2 Key data from secondary sources 30
2.1.3 PRIMARY DATA 31
2.1.3.1 List of primary interview participants 31
2.1.3.2 Key data from primary sources 32
2.1.3.3 Key industry insights 32
2.1.3.4 Breakdown of primaries 33
2.2 MARKET SIZE ESTIMATION METHODOLOGY 33
2.2.1 TOP-DOWN APPROACH 33
2.2.1.1 Approach to arrive at market size using top-down analysis
(supply side) 34
2.2.2 BOTTOM-UP APPROACH 34
2.2.2.1 Approach to arrive at market size using bottom-up analysis
(demand side) 34
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 36
2.4 RESEARCH ASSUMPTIONS 37
2.5 RESEARCH LIMITATIONS 37
2.6 RISK ANALYSIS 38
3 EXECUTIVE SUMMARY 39
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FLOW BATTERY MARKET 44
4.2 FLOW BATTERY MARKET, BY BATTERY TYPE 44
4.3 FLOW BATTERY MARKET, BY APPLICATION 45
4.4 FLOW BATTERY MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY 45
4.5 FLOW BATTERY MARKET, BY COUNTRY 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
5.2.1 DRIVERS 48
5.2.1.1 Growing awareness about benefits of flow batteries over traditional batteries 48
5.2.1.2 Increasing investments in renewable energy projects 48
5.2.1.3 Surging use of flow batteries in utility and smart grid applications 49
5.2.1.4 Increasing deployment of telecom towers 50
5.2.2 RESTRAINTS 51
5.2.2.1 Need for substantial upfront capital investments 51
5.2.2.2 Standardization challenges associated with flow batteries 51
5.2.3 OPPORTUNITIES 52
5.2.3.1 Growing demand for backup power solutions for data center applications 52
5.2.3.2 Rising use of flow battery-integrated residential energy storage solutions 52
5.2.3.3 Increasing focus on power grid modernization 52
5.2.3.4 Rising demand for advanced battery technologies 53
5.2.4 CHALLENGES 53
5.2.4.1 Availability of alternative battery technologies 53
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 54
5.4 PRICING ANALYSIS 55
5.4.1 AVERAGE SELLING PRICE OF FLOW BATTERIES, BY KEY PLAYER, 2023 56
5.4.2 AVERAGE SELLING PRICE TREND OF FLOW BATTERIES, 2021–2023 57
5.4.3 AVERAGE SELLING PRICE TREND OF FLOW BATTERIES, BY REGION,
2021–2023 57
5.5 VALUE CHAIN ANALYSIS 58
5.6 ECOSYSTEM ANALYSIS 60
5.7 INVESTMENT AND FUNDING SCENARIO 62
5.8 TECHNOLOGY ANALYSIS 63
5.8.1 KEY TECHNOLOGIES 63
5.8.1.1 Zinc–ion batteries 63
5.8.1.2 Secondary zinc–air batteries 63
5.8.2 COMPLEMENTARY TECHNOLOGIES 63
5.8.2.1 Solid-state batteries 63
5.8.3 ADJACENT TECHNOLOGIES 63
5.8.3.1 Liquid metal batteries 63
5.9 PATENT ANALYSIS 64
5.10 TRADE ANALYSIS 66
5.10.1 IMPORT SCENARIO (HS CODE 8112) 66
5.10.2 EXPORT SCENARIO (HS CODE 8112) 67
5.11 KEY CONFERENCES AND EVENTS, 2025 68
5.12 CASE STUDY ANALYSIS 68
5.12.1 REDFLOW PROVIDES OPTUS TELECOMMUNICATIONS WITH FLOW BATTERIES TO REDUCE CO2 EMISSIONS 68
5.12.2 VERIV AND REDFLOW PROVIDE VODAFONE NEW ZEALAND LTD. WITH FLOW BATTERY-INTEGRATED HESS TO ENSURE CONSTANT OFF-GRID POWER 69
5.12.3 INVINITY ENERGY SYSTEMS DEPLOYS FLOW BATTERY SYSTEM IN OXFORD TO ENABLE LOAD SHIFTING FOR EV CHARGING 69
5.13 REGULATORY LANDSCAPE 70
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 70
5.13.2 STANDARDS 73
5.14 PORTER’S FIVE FORCES ANALYSIS 74
5.14.1 BARGAINING POWER OF SUPPLIERS 75
5.14.2 BARGAINING POWER OF BUYERS 75
5.14.3 THREAT OF NEW ENTRANTS 76
5.14.4 THREAT OF SUBSTITUTES 76
5.14.5 INTENSITY OF COMPETITIVE RIVALRY 76
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 76
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 76
5.15.2 BUYING CRITERIA 77
5.16 IMPACT OF AI/GEN AI ON FLOW BATTERY MARKET 78
5.16.1 INTRODUCTION 78
5.16.2 AI/GEN AI IMPACT ON MAJOR FLOW BATTERY APPLICATIONS 78
5.16.2.1 Utilities 78
5.16.2.2 Commercial & industrial 78
5.16.3 USE CASES 78
5.16.4 FUTURE OF AI/GEN AI IN FLOW BATTERY ECOSYSTEM 79
6 OWNERSHIP MODELS OF FLOW BATTERIES 80
6.1 INTRODUCTION 80
6.2 CUSTOMER-OWNED 80
6.3 UTILITY-OWNED 81
6.4 THIRD-PARTY-OWNED 81
7 FLOW BATTERY MARKET, BY BATTERY TYPE 82
7.1 INTRODUCTION 83
7.2 REDOX 85
7.2.1 COST-EFFECTIVENESS AND CONVENIENCE IN LARGE-SCALE ENERGY STORAGE APPLICATIONS TO SPIKE DEMAND 85
7.3 HYBRID 86
7.3.1 EXTENDED OPERATIONAL LIFESPAN AND CONVENIENT MAINTENANCE FEATURES TO BOOST DEMAND 86
8 FLOW BATTERY MARKET, BY MATERIAL 89
8.1 INTRODUCTION 90
8.2 VANADIUM 91
8.2.1 GROWING DEMAND FOR LOW-CARBON ENERGY STORAGE SOLUTIONS TO DRIVE ADOPTION 91
8.3 ZINC–BROMINE 92
8.3.1 EASY AVAILABILITY AND FLEXIBLE DESIGN TO FOSTER SEGMENTAL GROWTH 92
8.4 OTHER MATERIALS 93
9 FLOW BATTERY MARKET, BY STORAGE 95
9.1 INTRODUCTION 96
9.2 LARGE-SCALE 97
9.2.1 SURGING NEED FOR LARGE-SCALE ENERGY STORAGE IN UTILITIES SECTOR TO FUEL SEGMENTAL GROWTH 97
9.3 SMALL-SCALE 99
9.3.1 GROWING DEMAND FOR COMPACT AND PORTABLE ENERGY STORAGE SOLUTIONS IN RESIDENTIAL APPLICATIONS TO DRIVE MARKET 99
10 FLOW BATTERY MARKET, BY APPLICATION 102
10.1 INTRODUCTION 103
10.2 UTILITIES 105
10.2.1 PEAK CAPACITY MANAGEMENT 108
10.2.1.1 Pressing need to harness off-peak power for peak demand to drive market 108
10.2.2 ENERGY SHIFTING 108
10.2.2.1 Increasing focus on optimizing grid operations to boost demand 108
10.2.3 TRANSMISSION 108
10.2.3.1 Escalating demand for highly efficient and reliable power grid to fuel market growth 108
10.2.4 DISTRIBUTION 108
10.2.4.1 Urgent requirement to address voltage fluctuations and power outage issues to accelerate demand 108
10.2.5 FREQUENCY REGULATION 108
10.2.5.1 Heightened need for consistent and reliable power to facilitate adoption 108
10.3 COMMERCIAL & INDUSTRIAL 109
10.3.1 NEED FOR EMERGENCY BACKUP POWER TO PREVENT PRODUCTION LOSS DURING POWER OUTAGES TO ACCELERATE DEPLOYMENT 109
10.4 EV CHARGING STATIONS 111
10.4.1 GOVERNMENT-LED FUNDING TO EXPAND ELECTRIC VEHICLE CHARGING INFRASTRUCTURE TO CREATE GROWTH OPPORTUNITIES 111
10.5 OTHER APPLICATIONS 112
11 FLOW BATTERY MARKET, BY REGION 115
11.1 INTRODUCTION 116
11.2 NORTH AMERICA 118
11.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 119
11.2.2 US 123
11.2.2.1 Government funding to advance battery technologies to accelerate market growth 123
11.2.3 CANADA 125
11.2.3.1 Significant focus on reducing GHG emissions and achieving energy cost savings and resilience to support market growth 125
11.2.4 MEXICO 126
11.2.4.1 Government-run grid modernization projects to drive market 126
11.3 EUROPE 128
11.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 128
11.3.2 GERMANY 132
11.3.2.1 Substantial investments in developing advanced battery technologies to fuel market growth 132
11.3.3 UK 134
11.3.3.1 Increasing investments by public and private sectors to develop flow batteries for newer applications to foster market growth 134
11.3.4 FRANCE 136
11.3.4.1 Rising focus on improving EV charging infrastructure to fuel demand 136
11.3.5 ITALY 137
11.3.5.1 Pressing need to reduce carbon footprint to spur demand 137
11.3.6 SWITZERLAND 139
11.3.6.1 Surging requirement to store excess energy generated by renewable sources to propel market 139
11.3.7 REST OF EUROPE 140
11.4 ASIA PACIFIC 142
11.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 142
11.4.2 CHINA 146
11.4.2.1 Increasing deployment of large-scale energy storage systems to facilitate market growth 146
11.4.3 JAPAN 148
11.4.3.1 Growing need to modernize grid infrastructure to fuel adoption 148
11.4.4 INDIA 150
11.4.4.1 Increasing investments in power grid modernization to drive market 150
11.4.5 AUSTRALIA 151
11.4.5.1 Transition toward cleaner and more sustainable energy future to contribute to market growth 151
11.4.6 SOUTH KOREA 153
11.4.6.1 Rising demand for electricity to fuel market growth 153
11.4.7 REST OF ASIA PACIFIC 154
11.5 ROW 156
11.5.1 MACROECONOMIC OUTLOOK FOR ROW 156
11.5.2 MIDDLE EAST 159
11.5.2.1 Government initiatives and policies supporting energy storage technologies to drive market 159
11.5.2.2 GCC countries 161
11.5.2.3 Rest of Middle East 161
11.5.3 SOUTH AMERICA 161
11.5.3.1 Rising focus on achieving renewable energy goals to boost demand 161
11.5.4 AFRICA 163
11.5.4.1 Increasing flow battery projects to drive market 163
12 COMPETITIVE LANDSCAPE 165
12.1 INTRODUCTION 165
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 165
12.3 REVENUE ANALYSIS, 2019–2023 167
12.4 MARKET SHARE ANALYSIS, 2023 168
12.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024 171
12.6 PRODUCT COMPARISON 172
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 172
12.7.1 STARS 172
12.7.2 EMERGING LEADERS 172
12.7.3 PERVASIVE PLAYERS 172
12.7.4 PARTICIPANTS 173
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 174
12.7.5.1 Company footprint 174
12.7.5.2 Region footprint 175
12.7.5.3 Application footprint 176
12.7.5.4 Storage footprint 177
12.7.5.5 Material footprint 178
12.7.5.6 Battery type footprint 179
12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 180
12.8.1 PROGRESSIVE COMPANIES 180
12.8.2 RESPONSIVE COMPANIES 180
12.8.3 DYNAMIC COMPANIES 180
12.8.4 STARTING BLOCKS 180
12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 182
12.8.5.1 Detailed list of key startups/SMEs 182
12.8.5.2 Competitive benchmarking of key startups/SMEs 182
12.9 COMPETITIVE SCENARIO 183
12.9.1 PRODUCT LAUNCHES 183
12.9.2 DEALS 183
12.9.3 OTHER DEVELOPMENTS 187
13 COMPANY PROFILES 191
13.1 KEY PLAYERS 191
13.1.1 SUMITOMO ELECTRIC INDUSTRIES, LTD. 191
13.1.1.1 Business overview 191
13.1.1.2 Products/Solutions/Services offered 192
13.1.1.3 Recent developments 193
13.1.1.3.1 Developments 193
13.1.1.4 MnM view 193
13.1.1.4.1 Key strengths/Right to win 193
13.1.1.4.2 Strategic choices 193
13.1.1.4.3 Weaknesses/Competitive threats 194
13.1.2 INVINITY ENERGY SYSTEMS 195
13.1.2.1 Business overview 195
13.1.2.2 Products/Services/Solutions offered 196
13.1.2.3 Recent developments 197
13.1.2.3.1 Deals 197
13.1.2.3.2 Expansions 198
13.1.2.3.3 Other developments 199
13.1.2.4 MnM view 201
13.1.2.4.1 Key strengths/Right to win 201
13.1.2.4.2 Strategic choices 201
13.1.2.4.3 Weaknesses/Competitive threats 201
13.1.3 ENEROX GMBH 202
13.1.3.1 Business overview 202
13.1.3.2 Products/Services/Solutions offered 202
13.1.3.3 Recent developments 203
13.1.3.3.1 Deals 203
13.1.3.3.2 Expansions 204
13.1.3.4 MnM view 204
13.1.3.4.1 Key strengths/Right to win 204
13.1.3.4.2 Strategic choices 204
13.1.3.4.3 Weaknesses/Competitive threats 204
13.1.4 VRB ENERGY 205
13.1.4.1 Business overview 205
13.1.4.2 Products/Services/Solutions offered 206
13.1.4.3 Recent developments 206
13.1.4.3.1 Deals 206
13.1.4.3.2 Expansions 207
13.1.4.3.3 Other developments 207
13.1.4.4 MnM view 208
13.1.4.4.1 Key strengths/Right to win 208
13.1.4.4.2 Strategic choices 208
13.1.4.4.3 Weaknesses/Competitive threats 208
13.1.5 ESS TECH, INC. 209
13.1.5.1 Business overview 209
13.1.5.2 Products/Services/Solutions offered 209
13.1.5.3 Recent developments 210
13.1.5.3.1 Product launches 210
13.1.5.3.2 Deals 210
13.1.5.3.3 Expansions 212
13.1.5.3.4 Other developments 212
13.1.5.4 MnM view 213
13.1.5.4.1 Key strength/Right to win 213
13.1.5.4.2 Strategic choices 213
13.1.5.4.3 Weaknesses/Competitive threats 213
13.1.6 RKP DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO., LTD. 214
13.1.6.1 Business overview 214
13.1.6.2 Products/Services/Solutions offered 214
13.1.7 ELESTOR BV 215
13.1.7.1 Business overview 215
13.1.7.2 Products/Services/Solutions offered 215
13.1.8 LARGO INC. 216
13.1.8.1 Business overview 216
13.1.8.2 Products/Services/Solutions offered 217
13.1.9 LOCKHEED MARTIN CORPORATION 218
13.1.9.1 Business overview 218
13.1.9.2 Products/Services/Solutions offered 219
13.1.9.3 Recent developments 220
13.1.9.3.1 Developments 220
13.1.10 PRIMUS POWER SOLUTIONS 221
13.1.10.1 Business overview 221
13.1.10.2 Products/Services/Solutions offered 221
13.1.11 STRYTEN ENERGY 222
13.1.11.1 Business overview 222
13.1.11.2 Products/Services/Solutions offered 222
13.1.11.3 Recent developments 223
13.1.11.3.1 Expansions 223
13.1.12 VIZN ENERGY SYSTEMS 224
13.1.12.1 Business overview 224
13.1.12.2 Products/Services/Solutions offered 224
13.2 OTHER PLAYERS 225
13.2.1 EVERFLOW 225
13.2.2 H2, INC. 226
13.2.3 KEMIWATT 227
13.2.4 NANOFLOWCELL MANAGEMENT AG 228
13.2.5 STOREN TECHNOLOGIES 229
13.2.6 VFLOWTECH PTE LTD. 230
13.2.7 VISBLUE A/S 231
13.2.8 VOLTERION GMBH & CO. KG 232
13.2.9 VOLTSTORAGE 232
13.2.10 VANEVO GMBH 233
13.2.11 FLUX XII 233
13.2.12 OTORO ENERGY, INC. 234
13.2.13 SINERGY FLOW SRL 234
14 APPENDIX 235
14.1 INSIGHTS FROM INDUSTRY EXPERTS 235
14.2 DISCUSSION GUIDE 236
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 240
14.4 CUSTOMIZATION OPTIONS 242
14.5 RELATED REPORTS 242
14.6 AUTHOR DETAILS 243
LIST OF TABLES
TABLE 1 FLOW BATTERY MARKET: RISK ANALYSIS 38
TABLE 2 INDICATIVE PRICING OF FLOW BATTERIES OFFERED BY KEY PLAYERS, 2023 56
TABLE 3 ROLE OF COMPANIES IN FLOW BATTERY ECOSYSTEM 61
TABLE 4 LIST OF MAJOR PATENTS, 2022–2024 65
TABLE 5 IMPORT DATA FOR HS CODE 8112-COMPLIANT PRODUCTS, BY COUNTRY,
2019–2023 (USD MILLION) 66
TABLE 6 EXPORT DATA FOR HS CODE 8112-COMPLIANT PRODUCTS, BY COUNTRY,
2019–2023 (USD MILLION) 67
TABLE 7 LIST OF KEY CONFERENCES AND EVENTS, 2025 68
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 70
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 72
TABLE 11 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 73
TABLE 12 MAJOR STANDARDS 73
TABLE 13 PORTER’S FIVE FORCES ANALYSIS 74
TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR
TOP 3 APPLICATIONS (%) 77
TABLE 15 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 77
TABLE 16 FLOW BATTERY MARKET, BY BATTERY TYPE, 2021–2023 (USD MILLION) 84
TABLE 17 FLOW BATTERY MARKET, BY BATTERY TYPE, 2024–2030 (USD MILLION) 84
TABLE 18 FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (INSTALLED CAPACITY IN MWH) 84
TABLE 19 FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (INSTALLED CAPACITY IN MWH) 84
TABLE 20 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2021–2023 (USD MILLION) 85
TABLE 21 REDOX: FLOW BATTERY MARKET, BY MATERIAL, 2024–2030 (USD MILLION) 85
TABLE 22 REDOX: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 86
TABLE 23 REDOX: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 86
TABLE 24 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2021–2023 (USD MILLION) 87
TABLE 25 HYBRID: FLOW BATTERY MARKET, BY MATERIAL, 2024–2030 (USD MILLION) 87
TABLE 26 HYBRID: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 87
TABLE 27 HYBRID: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 88
TABLE 28 FLOW BATTERY MARKET, BY MATERIAL, 2021–2023 (USD MILLION) 91
TABLE 29 FLOW BATTERY MARKET, BY MATERIAL, 2024–2030 (USD MILLION) 91
TABLE 30 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (USD MILLION) 92
TABLE 31 VANADIUM: FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (USD MILLION) 92
TABLE 32 ZINC–BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (USD MILLION) 93
TABLE 33 ZINC–BROMINE: FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (USD MILLION) 93
TABLE 34 OTHER MATERIALS: FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (USD MILLION) 94
TABLE 35 OTHER MATERIALS: FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (USD MILLION) 94
TABLE 36 FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 97
TABLE 37 FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 97
TABLE 38 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 98
TABLE 39 LARGE-SCALE: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 98
TABLE 40 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 98
TABLE 41 LARGE-SCALE: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 99
TABLE 42 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 100
TABLE 43 SMALL-SCALE: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 100
TABLE 44 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 100
TABLE 45 SMALL-SCALE: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 101
TABLE 46 FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 104
TABLE 47 FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 104
TABLE 48 UTILITIES: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 106
TABLE 49 UTILITIES: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 106
TABLE 50 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 106
TABLE 51 UTILITIES: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 106
TABLE 52 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 107
TABLE 53 UTILITIES: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 107
TABLE 54 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 109
TABLE 55 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 110
TABLE 56 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION,
2021–2023 (USD MILLION) 110
TABLE 57 COMMERCIAL & INDUSTRIAL: FLOW BATTERY MARKET, BY REGION,
2024–2030 (USD MILLION) 110
TABLE 58 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 111
TABLE 59 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 111
TABLE 60 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY REGION,
2021–2023 (USD MILLION) 112
TABLE 61 EV CHARGING STATIONS: FLOW BATTERY MARKET, BY REGION,
2024–2030 (USD MILLION) 112
TABLE 62 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 113
TABLE 63 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 113
TABLE 64 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION,
2021–2023 (USD MILLION) 114
TABLE 65 OTHER APPLICATIONS: FLOW BATTERY MARKET, BY REGION,
2024–2030 (USD MILLION) 114
TABLE 66 FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 117
TABLE 67 FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 118
TABLE 68 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY,
2021–2023 (USD MILLION) 121
TABLE 69 NORTH AMERICA: FLOW BATTERY MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 121
TABLE 70 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (USD MILLION) 121
TABLE 71 NORTH AMERICA: FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (USD MILLION) 121
TABLE 72 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 122
TABLE 73 NORTH AMERICA: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 122
TABLE 74 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 122
TABLE 75 NORTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 122
TABLE 76 US: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 123
TABLE 77 US: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 124
TABLE 78 US: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 124
TABLE 79 US: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 124
TABLE 80 CANADA: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 125
TABLE 81 CANADA: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 125
TABLE 82 CANADA: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 126
TABLE 83 CANADA: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 126
TABLE 84 MEXICO: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 127
TABLE 85 MEXICO: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 127
TABLE 86 MEXICO: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 127
TABLE 87 MEXICO: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 127
TABLE 88 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 130
TABLE 89 EUROPE: FLOW BATTERY MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 130
TABLE 90 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2021–2023 (USD MILLION) 131
TABLE 91 EUROPE: FLOW BATTERY MARKET, BY BATTERY TYPE, 2024–2030 (USD MILLION) 131
TABLE 92 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 131
TABLE 93 EUROPE: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 131
TABLE 94 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 132
TABLE 95 EUROPE: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 132
TABLE 96 GERMANY: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 133
TABLE 97 GERMANY: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 133
TABLE 98 GERMANY: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 133
TABLE 99 GERMANY: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 134
TABLE 100 UK: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 134
TABLE 101 UK: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 135
TABLE 102 UK: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 135
TABLE 103 UK: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 135
TABLE 104 FRANCE: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 136
TABLE 105 FRANCE: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 136
TABLE 106 FRANCE: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 137
TABLE 107 FRANCE: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 137
TABLE 108 ITALY: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 138
TABLE 109 ITALY: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 138
TABLE 110 ITALY: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 138
TABLE 111 ITALY: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 138
TABLE 112 SWITZERLAND: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 139
TABLE 113 SWITZERLAND: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 139
TABLE 114 SWITZERLAND: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 140
TABLE 115 SWITZERLAND: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 140
TABLE 116 REST OF EUROPE: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 141
TABLE 117 REST OF EUROPE: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 141
TABLE 118 REST OF EUROPE: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 141
TABLE 119 REST OF EUROPE: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 142
TABLE 120 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 144
TABLE 121 ASIA PACIFIC: FLOW BATTERY MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 144
TABLE 122 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE,
2021–2023 (USD MILLION) 145
TABLE 123 ASIA PACIFIC: FLOW BATTERY MARKET, BY BATTERY TYPE,
2024–2030 (USD MILLION) 145
TABLE 124 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 145
TABLE 125 ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 145
TABLE 126 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 146
TABLE 127 ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 146
TABLE 128 CHINA: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 147
TABLE 129 CHINA: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 147
TABLE 130 CHINA: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 147
TABLE 131 CHINA: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 148
TABLE 132 JAPAN: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 149
TABLE 133 JAPAN: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 149
TABLE 134 JAPAN: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 149
TABLE 135 JAPAN: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 149
TABLE 136 INDIA: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 150
TABLE 137 INDIA: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 150
TABLE 138 INDIA: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 151
TABLE 139 INDIA: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 151
TABLE 140 AUSTRALIA: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 152
TABLE 141 AUSTRALIA: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 152
TABLE 142 AUSTRALIA: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 152
TABLE 143 AUSTRALIA: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 153
TABLE 144 SOUTH KOREA: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 153
TABLE 145 SOUTH KOREA: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 153
TABLE 146 SOUTH KOREA: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 154
TABLE 147 SOUTH KOREA: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 154
TABLE 148 REST OF ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 155
TABLE 149 REST OF ASIA PACIFIC: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 155
TABLE 150 REST OF ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 155
TABLE 151 REST OF ASIA PACIFIC: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 156
TABLE 152 ROW: FLOW BATTERY MARKET, BY REGION, 2021–2023 (USD MILLION) 157
TABLE 153 ROW: FLOW BATTERY MARKET, BY REGION, 2024–2030 (USD MILLION) 157
TABLE 154 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2021–2023 (USD MILLION) 158
TABLE 155 ROW: FLOW BATTERY MARKET, BY BATTERY TYPE, 2024–2030 (USD MILLION) 158
TABLE 156 ROW: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 158
TABLE 157 ROW: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 158
TABLE 158 ROW: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 159
TABLE 159 ROW: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 159
TABLE 160 MIDDLE EAST: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 160
TABLE 161 MIDDLE EAST: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 160
TABLE 162 MIDDLE EAST: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 160
TABLE 163 MIDDLE EAST: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 160
TABLE 164 SOUTH AMERICA: FLOW BATTERY MARKET, BY STORAGE,
2021–2023 (USD MILLION) 162
TABLE 165 SOUTH AMERICA: FLOW BATTERY MARKET, BY STORAGE,
2024–2030 (USD MILLION) 162
TABLE 166 SOUTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION,
2021–2023 (USD MILLION) 162
TABLE 167 SOUTH AMERICA: FLOW BATTERY MARKET, BY APPLICATION,
2024–2030 (USD MILLION) 162
TABLE 168 AFRICA: FLOW BATTERY MARKET, BY STORAGE, 2021–2023 (USD MILLION) 163
TABLE 169 AFRICA: FLOW BATTERY MARKET, BY STORAGE, 2024–2030 (USD MILLION) 163
TABLE 170 AFRICA: FLOW BATTERY MARKET, BY APPLICATION, 2021–2023 (USD MILLION) 163
TABLE 171 AFRICA: FLOW BATTERY MARKET, BY APPLICATION, 2024–2030 (USD MILLION) 164
TABLE 172 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS,
JANUARY 2020–OCTOBER 2024 165
TABLE 173 FLOW BATTERY MARKET: DEGREE OF COMPETITION, 2023 168
TABLE 174 FLOW BATTERY MARKET: REGION FOOTPRINT 175
TABLE 175 FLOW BATTERY MARKET: APPLICATION FOOTPRINT 176
TABLE 176 FLOW BATTERY MARKET: STORAGE FOOTPRINT 177
TABLE 177 FLOW BATTERY MARKET: MATERIAL FOOTPRINT 178
TABLE 178 FLOW BATTERY MARKET: BATTERY TYPE FOOTPRINT 179
TABLE 179 FLOW BATTERY MARKET: LIST OF KEY STARTUPS/SMES 182
TABLE 180 FLOW BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 182
TABLE 181 FLOW BATTERY MARKET: PRODUCT LAUNCHES, JANUARY 2020–OCTOBER 2024 183
TABLE 182 FLOW BATTERY MARKET: DEALS, JANUARY 2020–OCTOBER 2024 183
TABLE 183 FLOW BATTERY MARKET: OTHER DEVELOPMENTS,
JANUARY 2020–OCTOBER 2024 187
TABLE 184 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY OVERVIEW 191
TABLE 185 SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
TABLE 186 SUMITOMO ELECTRIC INDUSTRIES, LTD.: DEVELOPMENTS 193
TABLE 187 INVINITY ENERGY SYSTEMS: COMPANY OVERVIEW 195
TABLE 188 INVINITY ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 196
TABLE 189 INVINITY ENERGY SYSTEMS: DEALS 197
TABLE 190 INVINITY ENERGY SYSTEMS: EXPANSIONS 198
TABLE 191 INVINITY ENERGY SYSTEMS: OTHER DEVELOPMENTS 199
TABLE 192 ENEROX GMBH: COMPANY OVERVIEW 202
TABLE 193 ENEROX GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 202
TABLE 194 ENEROX GMBH: DEALS 203
TABLE 195 ENEROX GMBH: EXPANSIONS 204
TABLE 196 VRB ENERGY: COMPANY OVERVIEW 205
TABLE 197 VRB ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 206
TABLE 198 VRB ENERGY: DEALS 206
TABLE 199 VRB ENERGY: EXPANSIONS 207
TABLE 200 VRB ENERGY: OTHER DEVELOPMENTS 207
TABLE 201 ESS TECH, INC.: COMPANY OVERVIEW 209
TABLE 202 ESS TECH, INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 209
TABLE 203 ESS TECH, INC.: PRODUCT LAUNCHES 210
TABLE 204 ESS TECH, INC.: DEALS 210
TABLE 205 ESS TECH, INC.: EXPANSIONS 212
TABLE 206 ESS TECH, INC.: OTHER DEVELOPMENTS 212
TABLE 207 RKP DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO., LTD.: COMPANY OVERVIEW 214
TABLE 208 RKP DALIAN RONGKE ENERGY STORAGE TECHNOLOGY DEVELOPMENT CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 214
TABLE 209 ELESTOR BV: COMPANY OVERVIEW 215
TABLE 210 ELESTOR BV: PRODUCTS/SERVICES/SOLUTIONS OFFERED 215
TABLE 211 LARGO INC.: COMPANY OVERVIEW 216
TABLE 212 LARGO INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 217
TABLE 213 LOCKHEED MARTIN CORPORATION: COMPANY OVERVIEW 218
TABLE 214 LOCKHEED MARTIN CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 219
TABLE 215 LOCKHEED MARTIN CORPORATION: DEVELOPMENTS 220
TABLE 216 PRIMUS POWER SOLUTIONS: COMPANY OVERVIEW 221
TABLE 217 PRIMUS POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 221
TABLE 218 STRYTEN ENERGY: COMPANY OVERVIEW 222
TABLE 219 STRYTEN ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 222
TABLE 220 STRYTEN ENERGY: EXPANSIONS 223
TABLE 221 VIZN ENERGY SYSTEMS: COMPANY OVERVIEW 224
TABLE 222 VIZN ENERGY SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 224
LIST OF FIGURES
FIGURE 1 FLOW BATTERY MARKET SEGMENTATION AND REGIONAL SCOPE 24
FIGURE 2 FLOW BATTERY MARKET: RESEARCH DESIGN 28
FIGURE 3 FLOW BATTERY MARKET: RESEARCH APPROACH 29
FIGURE 4 FLOW BATTERY MARKET: TOP-DOWN APPROACH 34
FIGURE 5 FLOW BATTERY MARKET: BOTTOM-UP APPROACH 35
FIGURE 6 FLOW BATTERY MARKET SIZE ESTIMATION METHODOLOGY 35
FIGURE 7 FLOW BATTERY MARKET: DATA TRIANGULATION 36
FIGURE 8 FLOW BATTERY MARKET: RESEARCH ASSUMPTIONS 37
FIGURE 9 FLOW BATTERY MARKET SIZE, 2021–2030 39
FIGURE 10 REDOX SEGMENT TO REGISTER HIGHER CAGR IN FLOW BATTERY MARKET,
BY BATTERY TYPE, FROM 2024 TO 2030 40
FIGURE 11 VANADIUM SEGMENT TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET,
BY MATERIAL, IN 2024 40
FIGURE 12 LARGE-SCALE FLOW BATTERIES TO DOMINATE MARKET, BY STORAGE,
FROM 2024 TO 2030 41
FIGURE 13 UTILITIES SEGMENT TO HOLD LARGEST SHARE OF FLOW BATTERY MARKET,
BY APPLICATION, IN 2030 42
FIGURE 14 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF FLOW BATTERY MARKET IN 2023 43
FIGURE 15 RISING INVESTMENT IN RENEWABLE ENERGY PROJECTS TO CONTRIBUTE TO MARKET GROWTH 44
FIGURE 16 REDOX SEGMENT TO HOLD LARGER SHARE OF FLOW BATTERY MARKET IN 2030 44
FIGURE 17 UTILITIES SEGMENT TO CAPTURE LARGEST SHARE OF FLOW BATTERY
MARKET IN 2030 45
FIGURE 18 UTILITIES SEGMENT AND US ACCOUNTED FOR LARGEST SHARE OF NORTH AMERICAN FLOW BATTERY MARKET IN 2023 45
FIGURE 19 CHINA TO EXHIBIT HIGHEST CAGR IN GLOBAL FLOW BATTERY MARKET DURING FORECAST PERIOD 46
FIGURE 20 FLOW BATTERY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 47
FIGURE 21 GLOBAL INVESTMENTS IN RENEWABLE ENERGY, 2020–2024 49
FIGURE 22 IMPACT ANALYSIS: DRIVERS 50
FIGURE 23 IMPACT ANALYSIS: RESTRAINTS 51
FIGURE 24 IMPACT ANALYSIS: OPPORTUNITIES 53
FIGURE 25 IMPACT ANALYSIS: CHALLENGES 54
FIGURE 26 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 55
FIGURE 27 AVERAGE SELLING PRICE OF FLOW BATTERIES OFFERED BY KEY PLAYERS, 2023 56
FIGURE 28 AVERAGE SELLING PRICE TREND OF FLOW BATTERIES, 2021–2023 57
FIGURE 29 AVERAGE SELLING PRICE TREND OF FLOW BATTERIES, BY REGION, 2021−2023 57
FIGURE 30 VALUE CHAIN ANALYSIS 58
FIGURE 31 FLOW BATTERY ECOSYSTEM 60
FIGURE 32 INVESTMENT AND FUNDING SCENARIO, 2021–2024 62
FIGURE 33 PATENTS APPLIED AND GRANTED, 2014–2023 64
FIGURE 34 IMPORT SCENARIO FOR HS CODE 8112-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 66
FIGURE 35 EXPORT SCENARIO FOR HS CODE 8112-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 67
FIGURE 36 PORTER’S FIVE FORCES ANALYSIS 75
FIGURE 37 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 76
FIGURE 38 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 77
FIGURE 39 DIFFERENT OWNERSHIP MODELS OF FLOW BATTERIES 80
FIGURE 40 FLOW BATTERY MARKET, BY BATTERY TYPE 83
FIGURE 41 REDOX FLOW BATTERIES TO LEAD MARKET THROUGHOUT FORECAST PERIOD 83
FIGURE 42 FLOW BATTERY MARKET, BY MATERIAL 90
FIGURE 43 VANADIUM MATERIAL TO ACCOUNT FOR LARGEST SHARE OF FLOW BATTERY MARKET IN 2030 90
FIGURE 44 FLOW BATTERY MARKET, BY STORAGE 96
FIGURE 45 LARGE-SCALE FLOW BATTERIES TO LEAD MARKET IN 2030 96
FIGURE 46 FLOW BATTERY MARKET, BY APPLICATION 103
FIGURE 47 UTILITIES SEGMENT TO CAPTURE LARGEST SHARE OF FLOW
BATTERY MARKET IN 2030 104
FIGURE 48 FLOW BATTERY MARKET, BY REGION 116
FIGURE 49 CHINA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 117
FIGURE 50 NORTH AMERICA: FLOW BATTERY MARKET SNAPSHOT 120
FIGURE 51 US TO ACCOUNT FOR LARGEST SHARE OF NORTH AMERICAN FLOW BATTERY MARKET IN 2030 120
FIGURE 52 EUROPE: FLOW BATTERY MARKET SNAPSHOT 129
FIGURE 53 GERMANY TO REGISTER HIGHEST CAGR IN EUROPEAN FLOW BATTERY MARKET DURING FORECAST PERIOD 130
FIGURE 54 ASIA PACIFIC: FLOW BATTERY MARKET SNAPSHOT 143
FIGURE 55 CHINA TO LEAD FLOW BATTERY MARKET IN ASIA PACIFIC DURING FORECAST PERIOD 144
FIGURE 56 MIDDLE EAST TO HOLD LARGEST SHARE OF FLOW BATTERY
MARKET IN ROW IN 2030 157
FIGURE 57 REVENUE ANALYSIS OF MAJOR PLAYERS IN FLOW BATTERY MARKET, 2019–2023 167
FIGURE 58 MARKET SHARE ANALYSIS OF COMPANIES OFFERING FLOW BATTERIES, 2023 169
FIGURE 59 COMPANY VALUATION, 2024 171
FIGURE 60 FINANCIAL METRICS (EV/EBITDA), 2024 171
FIGURE 61 PRODUCT COMPARISON 172
FIGURE 62 FLOW BATTERY MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 173
FIGURE 63 FLOW BATTERY MARKET: COMPANY FOOTPRINT 174
FIGURE 64 FLOW BATTERY MARKET: COMPANY EVALUATION MATRIX
(STARTUPS/SMES), 2023 181
FIGURE 65 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT 192
FIGURE 66 INVINITY ENERGY SYSTEMS: COMPANY SNAPSHOT 196
FIGURE 67 LARGO INC.: COMPANY SNAPSHOT 217
FIGURE 68 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT 219
