Asia-Pacific is the largest market, with a share over 78%.

BANGALORE, KARNATAKA, INDIA, January 21, 2022 /EINPresswire.com/ -- Flow Battery Market

In 2020, the global Flow Battery market size was USD 115 Million and it is expected to reach USD 312 Million by the end of 2027, with a CAGR of 8.6% during 2021-2027.

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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.

Flow Battery Market Share

Global flow battery main players include Dalian Rongke Power, Primus Power, Sumitomo Electric, VRB ENERGY, Largo Clean Energy, etc., totally accounting for about 95%. Asia-Pacific is the largest market, with a share over 78%. As for the types of products, it can be divided into vanadium flow battery and hybrid flow battery. Vanadium flow battery is the largest segment, holding a share aboutr 90%. In terms of application, it is widely used in utility facilities, renewable energy integration and others. The most common application is in utility facilities, taking a share over 80%.

Flow Battery market is segmented by region, by country, company, type, application and by sales channels. Players, stakeholders, and other participants in the global Flow Battery market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.

Flow Battery Market Segmentation

By Type
• Vanadium Flow Battery
• Hybrid Flow Battery

By Application
• Utility Facilities
• Renewable Energy Integration
• Others

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By Region
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Southeast Asia
• Australia
• Rest of Asia-Pacific
• Europe
• Germany
• France
• UK.
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Major Companies
• Dalian Rongke Power
• Primus Power
• Sumitomo Electric
• VRB ENERGY
• Largo Clean Energy

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