Press release
Redox Flow Battery Market Expected to reach 370 million USD by 2025
This report studies the global Redox Flow Battery industry status, China market entry and growth opportunity, focuses on the Chinese local and International manufacturers, analyzes the China market competition landscape, market size (value and volume), opportunity and challenge, risk and entry barriers.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.
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North America and Asia-Pacific are the two largest countries with flow batteries Installation Capacity in the world, both the two countries take more than 80% of the world in 2017. Europe behind them, with about 15.09% market share.
There are more than seven main types of flow batteries in mass production or development stage in the market now. Vanadium Flow Battery is the main types, which can occupied about 70 percent revenue market share.
Currently, Sumitomo Electric, Dalian Rongke Power are the top two companies and lead in flow batteries with 29.33% and 19.29% revenue market share in 2017, respectively.
The global Redox Flow Battery market is valued at 130 million USD in 2017 and is expected to reach 370 million USD by the end of 2025, growing at a CAGR of 14.0% between 2018 and 2025.
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This research report categorizes the China and global Redox Flow Battery market by type, end-use industry, and region.
International Manufacturers Covered
Sumitomo Electric
UniEnergy Technologies
Gildemeister
Primus Power
redT Energy Storage
EnSync Energy Systems
...
China Local Manufacturers Covered
Dalian Rongke Power
...
By Type
Vanadium Redox Flow Battery
Hybrid Flow Battery
By Application
Utility Facilities
Renewable Energy Integration
Others
By Region
United States
Europe
Japan
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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