According to a new report, published by KBV research, The Global Flow Battery Market size is expected to reach $1 billion by 2030, rising at a market growth of 19.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,14,059.6 Units, experiencing a growth of 16.6% (2019-2022).
The Redox segment is leading the Global Flow Battery Market by Type in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $778.3 Million by 2030. In an electrochemical cell known as a redox flow battery, two chemical components that are dissolved in a liquid-contained system and kept apart by a membrane generate chemical energy. A rise in energy-producing activities and capacities fuels the demand for the redox flow battery.
The Zinc Bromine segment is showcasing a CAGR of 20.1% during (2023 - 2030). For energy storage, zinc-bromine flow batteries have several benefits. They have a circulating electrolyte which renders it simple to control the temperature and ensures a consistent supply of reactants. They have strong specific energy and energy efficiency and can store and transform energy effectively. These batteries are made of inexpensive, easily accessible materials, and components that can be recycled are produced using standard manufacturing techniques.
The Large-Scale segment acquired the maximum revenue share in the Global Flow Battery Market by Storage in 2022 thereby, achieving a market value of $721.2 Million by 2030. The growth of the segment is because grid-scale energy storage applications increasingly use large-scale flow batteries, including renewable energy integration, peak shaving, and load leveling. The industry for large-scale flow batteries is also anticipated to develop in the coming years due to the rising demand for reliable and effective energy storage solutions.
The Commercial & Industrial segment has shown the high growth rate of 20.4% during (2023 - 2030). Blackouts, interrupted power supply, and machine downtime impact commercial & industrial applications. These factors may severely disrupt company activities since they can damage production lines, delay deliveries, and result in product degradation. Certain locations may experience unplanned power outages that last for a minute, an hour, a day, or even a week. Flow batteries are crucial in such circumstances because they reduce energy expenses for commercial & industrial organizations while also improving power quality and dependability.
The Asia Pacific region dominated the Global Flow Battery Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $385.6 million by 2030. The Europe market is anticipated to grow at a CAGR of 19.7% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 19.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/flow-battery-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of VRB Energy, Inc. (Ivanhoe Electric Inc.), Invinity Energy Systems plc, Redflow Limited, ViZn Energy, Inc., Gebr. SCHMID GmbH, Elestor BV, Largo Inc., Stryten Energy LLC (Atlas Holdings LLC), Sumitomo Electric Industries, Ltd., Lockheed Martin Corporation
By Type
By Material
By Storage (Volume, Units, USD Thousands, 2019-2030)
By Application (Volume, Units, USD Thousands, 2019-2030)
By Geography (Volume, Units, USD Thousands, 2019-2030)
Companies Profiled
Unique Offerings 
