Redox Flow Battery Market , by Material (Vanadium, Hybrid) and by Application (Utility Services, Renewable Energy Integration, UPS and Others), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2019–2026
- RES4072036
- 180 Pages
- February 2020
- Energy and Power
Market Definition:
Redox flow battery is a rechargeable battery which works on the oxidation and reduction mechanism. These batteries have the capability to work for longer hours due to the less degradation of electrodes and electrolytes. Redox flow battery converts chemical energy to electrical energy and works as an electrochemical device. These batteries are operated at room temperature and have a lesser chance of explosion.
Market Drivers:
Increasing use of renewable resources and durability of the battery’s life are the major driving factors for the growth of the redox flow battery market. These batteries have a lifespan of 40 years and the capacity to increase its durability by increasing the numbers of tanks and electrolytes. With the use of renewable energy, the battery can store energy to generate the power and use whenever its necessary.
Market Restraints:
The battery is equipped with sensors, pumps, power management and flow to the secondary containment to operate which makes it more complex in construction. The complexity in the battery’s construction is the biggest restraint for the market.
Redox Flow Battery Market, by Material
On the basis of material, the market divided into Hybrid and Vanadium. Vanadium is the most widely used material in a redox flow battery. Vanadium accounted for $105.5 million in 2018 and is predicted to generate a revenue of $325.6 million by 2026. Hybrid market valued for $22.3 million in 2018 and is predicted to generate a revenue of $65.3 million by 2026
Redox Flow Battery Market, by Application
On the basis of application, the market is divided into Utility Services, Renewable Energy Integration, UPS and Others. Utilities services market was recorded at $67.7 million in 2018 and is predicted to grow by generating a revenue of $205.9 million by 2026. UPS is predicted to grow at a CAGR of 13.5% by generating a revenue of $205.9 million by 2026.
Redox Flow Battery Market, by Region
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific has the largest growth rate in 2018. Asia-Pacific market was valued for $52.6 million in 2018 and is predicted to grow by generating a revenue of $166.9 million by 2026. North America region for redox flow battery market accounted for $26.8 million in 2018 and is predicted to grow by generating a revenue of $81.2 million by 2026.
Redox Flow Battery Market, by Region
The major key players in the market are Sumitomo electric industries ltd., SCHMID Group, Uni energy Technologies, Vionx Energy, VRB Energy, Vizn Energy system, Primus power, RedT energy PLC., ESS Inc. and Reflow, among other.
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Type trends
2.3. Application trends
3. Market Overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By type
3.8.2. By application
3.8.3. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Redox Flow Battery Market, by Material
4.1. Vanadium
4.1.1. Market size and forecast, by region, 2017-2028
4.1.2. Comparative market share analysis, 2018 & 2028
4.2. Hybrid
4.2.1. Market size and forecast, by region, 2017-2028
4.2.2. Comparative market share analysis, 2018 & 2028
5. Redox Flow Battery Market, by Application
5.1. Utility Services
5.1.1. Market size and forecast, by region, 2017-2028
5.1.2. Comparative market share analysis, 2018 & 2028
5.2. Renewable Energy Integration
5.2.1. Market size and forecast, by region, 2017-2028
5.2.2. Comparative market share analysis, 2018 & 2028
5.3. UPS
5.3.1. Market size and forecast, by region, 2017-2028
5.3.2. Comparative market share analysis, 2018 & 2028
5.4. Others
5.4.1. Market size and forecast, by region, 2017-2028
5.4.2. Comparative market share analysis, 2018 & 2028
6. Redox Flow Battery Market, by Region
6.1. North Region
6.1.1. Market size and forecast, by type, 2017-2028
6.1.2. Market size and forecast, by application, 2017-2028
6.1.3. Market size and forecast, by country, 2017-2028
6.1.4. Comparative market share analysis, 2018 & 2028
6.1.5. U.S
6.1.5.1. Market size and forecast, by type, 2017-2028
6.1.5.2. Market size and forecast, by application, 2017-2028
6.1.5.3. Comparative market share analysis, 2018 & 2028
6.1.6. Canada
6.1.6.1. Market size and forecast, by type, 2017-2028
6.1.6.2. Market size and forecast, by application, 2017-2028
6.1.6.3. Comparative market share analysis, 2018 & 2028
6.2. Europe
6.2.1. Market size and forecast, by type, 2017-2028
6.2.2. Market size and forecast, by application, 2017-2028
6.2.3. Market size and forecast, by country, 2017-2028
6.2.4. Comparative market share analysis, 2018 & 2028
6.2.5. UK
6.2.5.1. Market size and forecast, by type, 2017-2028
6.2.5.2. Market size and forecast, by application, 2017-2028
6.2.5.3. Comparative market share analysis, 2018 & 2028
6.2.6. Germany
6.2.6.1. Market size and forecast, by type, 2017-2028
6.2.6.2. Market size and forecast, by application, 2017-2028
6.2.6.3. Comparative market share analysis, 2018 & 2028
6.2.7. France
6.2.7.1. Market size and forecast, by type, 2017-2028
6.2.7.2. Market size and forecast, by application, 2017-2028
6.2.7.3. Comparative market share analysis, 2018 & 2028
6.2.8. Italy
6.2.8.1. Market size and forecast, by type, 2017-2028
6.2.8.2. Market size and forecast, by application, 2017-2028
6.2.8.3. Comparative market share analysis, 2018 & 2028
6.2.9. Rest of Europe
6.2.9.1. Market size and forecast, by type, 2017-2028
6.2.9.2. Market size and forecast, by application, 2017-2028
6.2.9.3. Comparative market share analysis, 2018 & 2028
6.3. Asia-Pacific
6.3.1. Market size and forecast, by type, 2017-2028
6.3.2. Market size and forecast, by application, 2017-2028
6.3.3. Market size and forecast, by country, 2017-2028
6.3.4. Comparative market share analysis, 2018 & 2028
6.3.5. China
6.3.5.1. Market size and forecast, by type, 2017-2028
6.3.5.2. Market size and forecast, by application, 2017-2028
6.3.5.3. Comparative market share analysis, 2018 & 2028
6.3.6. India
6.3.6.1. Market size and forecast, by type, 2017-2028
6.3.6.2. Market size and forecast, by application, 2017-2028
6.3.6.3. Comparative market share analysis, 2018 & 2028
6.3.7. Japan
6.3.7.1. Market size and forecast, by type, 2017-2028
6.3.7.2. Market size and forecast, by application, 2017-2028
6.3.7.3. Comparative market share analysis, 2018 & 2028
6.3.8. South Korea
6.3.8.1. Market size and forecast, by type, 2017-2028
6.3.8.2. Market size and forecast, by application, 2017-2028
6.3.8.3. Comparative market share analysis, 2018 & 2028
6.3.9. Australia
6.3.9.1. Market size and forecast, by type, 2017-2028
6.3.9.2. Market size and forecast, by application, 2017-2028
6.3.9.3. Comparative market share analysis, 2018 & 2028
6.3.10. Rest of Asia Pacific
6.3.10.1. Market size and forecast, by type, 2017-2028
6.3.10.2. Market size and forecast, by application, 2017-2028
6.3.10.3. Comparative market share analysis, 2018 & 2028
6.4. LAMEA
6.4.1. Market size and forecast, by type, 2017-2028
6.4.2. Market size and forecast, by application, 2017-2028
6.4.3. Market size and forecast, by country, 2017-2028
6.4.4. Comparative market share analysis, 2018 & 2028
6.4.5. Middle East
6.4.5.1. Market size and forecast, by type, 2017-2028
6.4.5.2. Market size and forecast, by application, 2017-2028
6.4.5.3. Comparative market share analysis, 2018 & 2028
6.4.6. Africa
6.4.6.1. Market size and forecast, by type, 2017-2028
6.4.6.2. Market size and forecast, by application, 2017-2028
6.4.6.3. Comparative market share analysis, 2018 & 2028
7. Company Profiles
7.1. Sumitomo electric industries ltd.
7.1.1. Business overview
7.1.2. Financial performance
7.1.3. Product portfolio
7.1.4. Recent strategic moves & developments
7.1.5. SWOT analysis
7.2. SCHMID Group
7.2.1. Business overview
7.2.2. Financial performance
7.2.3. Product portfolio
7.2.4. Recent strategic moves & developments
7.2.5. SWOT analysis
7.3. Fitbit
7.3.1. Business overview
7.3.2. Financial performance
7.3.3. Product portfolio
7.3.4. Recent strategic moves & developments
7.3.5. SWOT analysis
7.4. Uni energy Technologies
7.4.1. Business overview
7.4.2. Financial performance
7.4.3. Product portfolio
7.4.4. Recent strategic moves & developments
7.4.5. SWOT analysis
7.5. Vionx Energy
7.5.1. Business overview
7.5.2. Financial performance
7.5.3. Product portfolio
7.5.4. Recent strategic moves & developments
7.5.5. SWOT analysis
7.6. VRB Energy
7.6.1. Business overview
7.6.2. Financial performance
7.6.3. Product portfolio
7.6.4. Recent strategic moves & developments
7.6.5. SWOT analysis
7.7. Vizn Energy system
7.7.1. Business overview
7.7.2. Financial performance
7.7.3. Product portfolio
7.7.4. Recent strategic moves & developments
7.7.5. SWOT analysis
7.8. Primus power
7.8.1. Business overview
7.8.2. Financial performance
7.8.3. Product portfolio
7.8.4. Recent strategic moves & developments
7.8.5. SWOT analysis
7.9. RedT energy PLC.
7.9.1. Business overview
7.9.2. Financial performance
7.9.3. Product portfolio
7.9.4. Recent strategic moves & developments
7.9.5. SWOT analysis
7.10. ESS Inc.
7.10.1. Business overview
7.10.2. Financial performance
7.10.3. Product portfolio
7.10.4. Recent strategic moves & developments
7.10.5. SWOT analysis
7.11. Reflow
7.11.1. Business overview
7.11.2. Financial performance
7.11.3. Product portfolio
7.11.4. Recent strategic moves & developments
7.11.5. SWOT analysis
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