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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Over the next five years, Publisher projects that Redox Flow Battery will register a 14.1% CAGR in terms of revenue, reach US$ 280 million by 2023, from US$ 130 million in 2017.
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.
To calculate the market size, Publisher considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Vanadium Redox Flow Battery
Hybrid Flow Battery
Segmentation by application:
Utility Facilities
Renewable Energy Integration
Others
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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:
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Gildemeister
Primus Power
redTENERGY Storage
EnSync
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Some Points From Table of Content:
1 Scope of the Report
2 Executive Summary
3 Global Redox Flow Battery by Players
4 Redox Flow Battery by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
Continued…
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