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Redox Flow Battery-Global Market Insights and Sales Trends 2024
Synopsis
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.
The global Redox Flow Battery market size is expected to reach US$ 576.5 million by 2029, growing at a CAGR of 10.9% from 2023 to 2029. The market is mainly driven by the significant applications of Redox Flow Battery in various end use industries. The expanding demands from the Utility Facilities, Renewable Energy Integration and Others,, are propelling Redox Flow Battery market. Vanadium Redox Flow Battery, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Hybrid Flow Battery segment is estimated at % CAGR for the next seven-year period.
The industry's leading producers are Sumitomo Electric, Dalian Rongke Power and UniEnergy Technologies, which accounted for 21.51%, 21.19% and 11.28% of revenues respectively in 2019.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Redox Flow Battery, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Redox Flow Battery market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Redox Flow Battery market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Redox Flow Battery sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Redox Flow Battery covered in this report include Sumitomo Electric, Dalian Rongke Power, UniEnergy Technologies, Gildemeister, Primus Power, redTENERGY Storage and EnSync, etc.
The global Redox Flow Battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Gildemeister
Primus Power
redTENERGY Storage
EnSync
Global Redox Flow Battery market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Redox Flow Battery market, Segment by Type:
Vanadium Redox Flow Battery
Hybrid Flow Battery
Global Redox Flow Battery market, by Application
Utility Facilities
Renewable Energy Integration
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Redox Flow Battery manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Redox Flow Battery in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
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.
The global Redox Flow Battery market size is expected to reach US$ 576.5 million by 2029, growing at a CAGR of 10.9% from 2023 to 2029. The market is mainly driven by the significant applications of Redox Flow Battery in various end use industries. The expanding demands from the Utility Facilities, Renewable Energy Integration and Others,, are propelling Redox Flow Battery market. Vanadium Redox Flow Battery, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Hybrid Flow Battery segment is estimated at % CAGR for the next seven-year period.
The industry's leading producers are Sumitomo Electric, Dalian Rongke Power and UniEnergy Technologies, which accounted for 21.51%, 21.19% and 11.28% of revenues respectively in 2019.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Redox Flow Battery, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Redox Flow Battery market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Redox Flow Battery market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Redox Flow Battery sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Redox Flow Battery covered in this report include Sumitomo Electric, Dalian Rongke Power, UniEnergy Technologies, Gildemeister, Primus Power, redTENERGY Storage and EnSync, etc.
The global Redox Flow Battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Gildemeister
Primus Power
redTENERGY Storage
EnSync
Global Redox Flow Battery market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Redox Flow Battery market, Segment by Type:
Vanadium Redox Flow Battery
Hybrid Flow Battery
Global Redox Flow Battery market, by Application
Utility Facilities
Renewable Energy Integration
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Redox Flow Battery manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Redox Flow Battery in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Redox Flow Battery Market Overview
1.1 Redox Flow Battery Product Overview
1.2 Redox Flow Battery Market Segment by Type
1.2.1 Vanadium Redox Flow Battery
1.2.2 Hybrid Flow Battery
1.3 Global Redox Flow Battery Market Size by Type
1.3.1 Global Redox Flow Battery Market Size Overview by Type (2018-2029)
1.3.2 Global Redox Flow Battery Historic Market Size Review by Type (2018-2023)
1.3.3 Global Redox Flow Battery Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Redox Flow Battery Sales Breakdown by Type (2018-2023)
1.4.2 Europe Redox Flow Battery Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Redox Flow Battery Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Redox Flow Battery Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Redox Flow Battery Sales Breakdown by Type (2018-2023)
2 Global Redox Flow Battery Market Competition by Company
2.1 Global Top Players by Redox Flow Battery Sales (2018-2023)
2.2 Global Top Players by Redox Flow Battery Revenue (2018-2023)
2.3 Global Top Players by Redox Flow Battery Price (2018-2023)
2.4 Global Top Manufacturers Redox Flow Battery Manufacturing Base Distribution, Sales Area, Product Type
2.5 Redox Flow Battery Market Competitive Situation and Trends
2.5.1 Redox Flow Battery Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Redox Flow Battery Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Redox Flow Battery as of 2022)
2.7 Date of Key Manufacturers Enter into Redox Flow Battery Market
2.8 Key Manufacturers Redox Flow Battery Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Redox Flow Battery Status and Outlook by Region
3.1 Global Redox Flow Battery Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Redox Flow Battery Historic Market Size by Region
3.2.1 Global Redox Flow Battery Sales in Volume by Region (2018-2023)
3.2.2 Global Redox Flow Battery Sales in Value by Region (2018-2023)
3.2.3 Global Redox Flow Battery Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Redox Flow Battery Forecasted Market Size by Region
3.3.1 Global Redox Flow Battery Sales in Volume by Region (2024-2029)
3.3.2 Global Redox Flow Battery Sales in Value by Region (2024-2029)
3.3.3 Global Redox Flow Battery Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Redox Flow Battery by Application
4.1 Redox Flow Battery Market Segment by Application
4.1.1 Utility Facilities
4.1.2 Renewable Energy Integration
4.1.3 Others
4.2 Global Redox Flow Battery Market Size by Application
4.2.1 Global Redox Flow Battery Market Size Overview by Application (2018-2029)
4.2.2 Global Redox Flow Battery Historic Market Size Review by Application (2018-2023)
4.2.3 Global Redox Flow Battery Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Redox Flow Battery Sales Breakdown by Application (2018-2023)
4.3.2 Europe Redox Flow Battery Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Redox Flow Battery Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Redox Flow Battery Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Redox Flow Battery Sales Breakdown by Application (2018-2023)
5 North America Redox Flow Battery by Country
5.1 North America Redox Flow Battery Historic Market Size by Country
5.1.1 North America Redox Flow Battery Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Redox Flow Battery Sales in Volume by Country (2018-2023)
5.1.3 North America Redox Flow Battery Sales in Value by Country (2018-2023)
5.2 North America Redox Flow Battery Forecasted Market Size by Country
5.2.1 North America Redox Flow Battery Sales in Volume by Country (2024-2029)
5.2.2 North America Redox Flow Battery Sales in Value by Country (2024-2029)
6 Europe Redox Flow Battery by Country
6.1 Europe Redox Flow Battery Historic Market Size by Country
6.1.1 Europe Redox Flow Battery Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Redox Flow Battery Sales in Volume by Country (2018-2023)
6.1.3 Europe Redox Flow Battery Sales in Value by Country (2018-2023)
6.2 Europe Redox Flow Battery Forecasted Market Size by Country
6.2.1 Europe Redox Flow Battery Sales in Volume by Country (2024-2029)
6.2.2 Europe Redox Flow Battery Sales in Value by Country (2024-2029)
7 Asia-Pacific Redox Flow Battery by Region
7.1 Asia-Pacific Redox Flow Battery Historic Market Size by Region
7.1.1 Asia-Pacific Redox Flow Battery Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Redox Flow Battery Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Redox Flow Battery Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Redox Flow Battery Forecasted Market Size by Region
7.2.1 Asia-Pacific Redox Flow Battery Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Redox Flow Battery Sales in Value by Region (2024-2029)
8 Latin America Redox Flow Battery by Country
8.1 Latin America Redox Flow Battery Historic Market Size by Country
8.1.1 Latin America Redox Flow Battery Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Redox Flow Battery Sales in Volume by Country (2018-2023)
8.1.3 Latin America Redox Flow Battery Sales in Value by Country (2018-2023)
8.2 Latin America Redox Flow Battery Forecasted Market Size by Country
8.2.1 Latin America Redox Flow Battery Sales in Volume by Country (2024-2029)
8.2.2 Latin America Redox Flow Battery Sales in Value by Country (2024-2029)
9 Middle East and Africa Redox Flow Battery by Country
9.1 Middle East and Africa Redox Flow Battery Historic Market Size by Country
9.1.1 Middle East and Africa Redox Flow Battery Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Redox Flow Battery Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Redox Flow Battery Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Redox Flow Battery Forecasted Market Size by Country
9.2.1 Middle East and Africa Redox Flow Battery Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Redox Flow Battery Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Sumitomo Electric
10.1.1 Sumitomo Electric Company Information
10.1.2 Sumitomo Electric Introduction and Business Overview
10.1.3 Sumitomo Electric Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Sumitomo Electric Redox Flow Battery Products Offered
10.1.5 Sumitomo Electric Recent Development
10.2 Dalian Rongke Power
10.2.1 Dalian Rongke Power Company Information
10.2.2 Dalian Rongke Power Introduction and Business Overview
10.2.3 Dalian Rongke Power Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Dalian Rongke Power Redox Flow Battery Products Offered
10.2.5 Dalian Rongke Power Recent Development
10.3 UniEnergy Technologies
10.3.1 UniEnergy Technologies Company Information
10.3.2 UniEnergy Technologies Introduction and Business Overview
10.3.3 UniEnergy Technologies Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.3.4 UniEnergy Technologies Redox Flow Battery Products Offered
10.3.5 UniEnergy Technologies Recent Development
10.4 Gildemeister
10.4.1 Gildemeister Company Information
10.4.2 Gildemeister Introduction and Business Overview
10.4.3 Gildemeister Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Gildemeister Redox Flow Battery Products Offered
10.4.5 Gildemeister Recent Development
10.5 Primus Power
10.5.1 Primus Power Company Information
10.5.2 Primus Power Introduction and Business Overview
10.5.3 Primus Power Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Primus Power Redox Flow Battery Products Offered
10.5.5 Primus Power Recent Development
10.6 redTENERGY Storage
10.6.1 redTENERGY Storage Company Information
10.6.2 redTENERGY Storage Introduction and Business Overview
10.6.3 redTENERGY Storage Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.6.4 redTENERGY Storage Redox Flow Battery Products Offered
10.6.5 redTENERGY Storage Recent Development
10.7 EnSync
10.7.1 EnSync Company Information
10.7.2 EnSync Introduction and Business Overview
10.7.3 EnSync Redox Flow Battery Sales, Revenue and Gross Margin (2018-2023)
10.7.4 EnSync Redox Flow Battery Products Offered
10.7.5 EnSync Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Redox Flow Battery Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Redox Flow Battery Industrial Chain Analysis
11.4 Redox Flow Battery Market Dynamics
11.4.1 Redox Flow Battery Industry Trends
11.4.2 Redox Flow Battery Market Drivers
11.4.3 Redox Flow Battery Market Challenges
11.4.4 Redox Flow Battery Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Redox Flow Battery Distributors
12.3 Redox Flow Battery Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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