Flow Battery Market Forecast worth USD 489 Million by 2026


The Global Flow Battery Market Size is expected to grow from USD 214 million in 2021 to USD 489 million by 2026, at a CAGR of 18.0%. Inherent advantages of flow batteries, increasing investments in renewable energy, high demand for flow batteries in utilities, and increase in telecommunication tower installations are the key factors driving the growth of the Flow Battery Market.

Key Players Operating in Flow Battery Market include major players operating in different stages in the entire value chain of flow battery; these players are Sumitomo Electric Industries Ltd. (Japan), UniEnergy Technologies (US), ViZn Energy Systems (US), Primus Power (US), and ESS, Inc. (US). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnerships and expansions, to increase their revenue.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82953888

Top 5 Players in Flow Battery Market:

Sumitomo Electric Industries Ltd.

Sumitomo Electric Industries, Ltd. is one of the leading manufacturers of optical fiber cables and electric wires. The company operates through five business segments, namely, Automotive, Info Communications, Electronics, Energy & Environment, and Industrial Materials. It offers redox flow batteries through the Energy & Environment segment. These redox flow batteries are ideal for use in power grid systems and are well known for their safety features, long life, and operation in flexible working environments. Sumitomo Electric offers various products and solutions under various categories that include raw materials, components, modules, end products, and systems. These products and solutions find applications in numerous industries, including automotive, IT, electronics, and energy & environment.

UniEnergy Technologies

UniEnergy Technologies is engaged in the manufacturing of energy storage systems. The company majorly provides grid-scale energy storage systems and new advanced redox flow batteries, which stores electrical energy in the form of liquid electrolytes, to various industry leaders in the related fields. The primary product provided by the company is an advanced vanadium redox flow battery named ReFlex battery. The ReFlex battery finds applications in various micro-grids, utilities, and commercial and industrial projects. The battery is well known for its characteristics such as flexibility and resiliency in the working environment, compact size, safety, 1GWh cycling capacity, and capability of 100kW–10MW storage.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=82953888  

ViZn Energy Systems

ViZn Energy Systems provides safe, versatile, and economical energy storage solutions. The company offers hybrid zinc/iron flow batteries that utilize alkaline electrochemical components dissolved in electrolytes for energy storage. These flow batteries are designed for applications in utilities, microgrids, solar and wind plants, military and public sectors, and industrial and commercial projects. The batteries are known for their robust performance, safety, low lifecycle cost, and high power.

Primus Power

Primus Power is one of the leading providers of low-cost, fade-free, grid-scale, and long-duration energy storage solutions. The company provides a zinc bromide flow battery, namely, EnergyPod2, which exhibits provides long-duration, full power, multi-decade life without any fire risk and electrode stack replacement. The energy storage solutions by Primus Power serve multiple storage applications for numerous commercial and industrial, data center, microgrid, and utility customers. The company is gaining demand for flow batteries on the global level—EnergyPod2 is being shipped worldwide.

ESS, Inc.

ESS, Inc. is one of the leading manufacturers of energy storage systems. The company offers iron flow battery systems as an energy storage solution known for their water-based, non-hazardous, safe, and fully recyclable functioning. It provides these flow batteries for applications in utility-scale, commercial, and industrial projects, microgrids, distributed energy management systems (DERMS), and virtual power plants (VPPs). The iron flow batteries are designed to provide more than 20,000 power cycles and fast electrical response time with low maintenance needs. The batteries are featured to have a life of over 20 years. The solutions offered by the company include the Energy Warehouse (EW) and Energy Center (EC), which act as platforms for energy storage using iron, salt, and water for the electrolyte.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/flow-battery-market-82953888.html

Comments

Post a Comment

Popular posts from this blog

Trends Shaping the Environmental Test Chambers Market

The   Environmental Test Chambers Market Size  is expected to rise steadily; estimates show that it will reach USD 938 million by 2024 from USD 842 million in 2019, a compound annual growth rate (CAGR) of 2.18%. The most recent market research report outlines this growth trajectory and highlights the several variables that are driving this expansion. A variety of industrial verticals, including aerospace and defence, automotive, telecommunications, and electronics, are served by the market's segmentation based on type, which includes temperature and humidity chambers, customised chambers, and thermal shock chambers. Over the course of the forecast period, factors like strict regulatory requirements, rising need for dependable testing solutions, and technical developments in environmental testing equipment are anticipated to drive market expansion. Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107895228 The environmental test chambers mar...
Read more

Microwave Revolution: Unraveling the Monolithic Microwave IC Market

Image
The   Monolithic Microwave IC Market  showed strong growth, reaching a worth of USD 9.7 billion in 2022 and expected to reach USD 17.0 billion by 2027. It is anticipated that the market would expand at a notable compound annual growth rate (CAGR) of 11.9% from 2022 to 2027. This growth trend shows how Monolithic Microwave Integrated Circuits (MMICs) are becoming more and more popular in a variety of industries. MMICs are essential parts of applications like consumer electronics, aircraft, defence, and telecommunications because of their small size and excellent performance at microwave frequencies. Technological developments, the growing need for high-frequency communication systems, and the extensive use of MMICs in developing technologies are the main factors propelling the market's growth. The MMIC market is expanding significantly due to a number of important factors. The smartphone industry is a major trigger for the spike in demand for Monolithic Microwave Integrated Cir...
Read more

Empowering Connectivity: RF Gallium Nitride Market on Track for $2.8 Billion by 2028

With a projected value of USD 2.8 billion by 2028, the global   RF Gallium Nitride (GaN) Market   is expected to experience significant expansion from its estimated USD 1.5 billion valuation in 2023. Over the course of the forecast period, this projected growth translates into a strong compound annual growth rate (CAGR) of 12.9%. Technological developments, the growing need for high-frequency and high-power devices, and the broad use of GaN technology in a variety of industries, including the automotive, aerospace and defence, and telecommunications sectors, are all considered contributing factors to the market value increase. The market is anticipated to experience substantial growth in the upcoming years as GaN continues to establish itself as a favoured material for RF applications because of its excellent qualities, such as high electron mobility and thermal stability. Download PDF Brochure:   https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183000597 There are...
Read more