Redox Flow Batteries Market Scope
Redox flow batteries are a type of battery, which differs from other battery types. It is made up of two tanks filled with electrolyte-fluids and what is called a stack. The stack is comprised of several stack cells, each with a frame, bipolar plate and a membrane. The number and size of the stack cells depend on the power output needed. The size of the tanks determines the capacity of a battery. The fluid in the two tanks acts as the cathode and anode. Just like a regular battery. Nowadays, researchers have been making steady progress in redox flow batteries, and several types have been demonstrated in recent years.
Research Analyst at AMA estimates that United States and Australia Manufacturers will contribute to the maximum growth of Global Redox Flow Batteries market throughout the predicted period.
Cellcube (Canada), Redflow (Australia), ViZn Energy Systems (United States), Imergy (United States), UniEnergy Technologies (United States), Rongke Power (China), thyssenkrupp AG (Germany), Sumitomo Electric (Japan), redT energy plc (United Kingdom) and Vionx Energy Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Australian Vanadium (Australia), H2, Inc. (South Korea) and Beijing Pu Neng Energy (China).
Segmentation Overview
The study have segmented the market of Global Redox Flow Batteries market by Type (All-vanadium, Zinc-bromide, Zinc-iron and Others), by Application (Utility/Micro-grid, Commercial & Industrial, Electric Vehicle charging, Telecommunications, Off-Grid Solutions, Solar, Wind, Residential and Others) and Region with country level break-up.
On the basis of geography, the market of Redox Flow Batteries has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Redox Flow Batteries (RFB) Are Becoming Popular Choice for Large-Scale Energy Storage
Market Growth Drivers:
Rising Need for High-Capacity Energy Storage across the Globe, A surge in Renewable Energy Generation Such As Wind and Solar and Redox Flow Batteries are Gaining Significant Demand Owing to High Performance as Compared to Lithium-Ion Batteries
Restraints:
The High Cost of Flow Batteries Is Causing Hindrance in Its Adoption
Opportunities:
The Growing Government Support for the Vanadium Redox Flow Batteries Deployment in China and The Surging Renewable Energy Projects across the Emerging Economies
Market Leaders and their Expansionary Development Strategies
On 20 Aug 2019, Australian Vanadium and Metrowest Power Systems have signed a non-binding memorandum of understanding to look at energy storage opportunities in Australia using vanadium redox flow battery technology. and On 13 June 2019, CELLCUBE ENERGY STORAGE SYSTEMS INC. has announced that commercial framework agreement with Immersa Ltd., which reserves production capacity and installation services for CellCube’s recently released new generation of Vanadium Redox Flow Battery System. The definitive contract was signed on June 12, 2019 and represents a value of USD 6 million expected timing for delivery within 24 months.
On 17 March 2017, Utility San Diego Gas and Electric (SDG&E) and Sumitomo Electric (SEI) have launched a 2MW/8MWh pilot vanadium redox flow battery storage project in California to study how the technology can reliably integrate renewable energy and improve flexibility in grid management. The redox flow battery system developed for the project is the largest of its kind in the US, claims SEI.
Key Target Audience
Redox Flow Batteries Manufacturers, Redox Flow Batteries Raw Material Suppliers, Redox Flow Batteries Traders/Distributors, Redox Flow Batteries Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.