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.
This report contains market size and forecasts of Redox Flow Batteries for Energy Storage in global, including the following market information:
Global Redox Flow Batteries for Energy Storage Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Redox Flow Batteries for Energy Storage Market Sales, 2017-2022, 2023-2028, (MWh)
Global top five Redox Flow Batteries for Energy Storage companies in 2021 (%)
The global Redox Flow Batteries for Energy Storage market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Vanadium Redox Flow Battery Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Redox Flow Batteries for Energy Storage include Sumitomo Electric, Dalian Rongke Power, UniEnergy Technologies, Gildemeister, Primus Power, redTENERGY Storage and EnSync, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Redox Flow Batteries for Energy Storage manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Redox Flow Batteries for Energy Storage Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (MWh)
Global Redox Flow Batteries for Energy Storage Market Segment Percentages, by Type, 2021 (%)
Vanadium Redox Flow Battery
Hybrid Flow Battery
Global Redox Flow Batteries for Energy Storage Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (MWh)
Global Redox Flow Batteries for Energy Storage Market Segment Percentages, by Application, 2021 (%)
Utility Facilities
Renewable Energy Integration
Micro-grid
Energy Storage at Users' Side
Global Redox Flow Batteries for Energy Storage Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (MWh)
Global Redox Flow Batteries for Energy Storage Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Redox Flow Batteries for Energy Storage revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Redox Flow Batteries for Energy Storage revenues share in global market, 2021 (%)
Key companies Redox Flow Batteries for Energy Storage sales in global market, 2017-2022 (Estimated), (MWh)
Key companies Redox Flow Batteries for Energy Storage sales share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Gildemeister
Primus Power
redTENERGY Storage
EnSync