Redox Flow Battery Market

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.

Redox Flow Battery Market contains market size and forecasts of Redox Flow Battery in global, including the following market information:

Global Redox Flow Battery Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global Redox Flow Battery Market Sales, 2017-2022, 2023-2028, (MWh)

Global top five Redox Flow Battery companies in 2021 (%)

The global Redox Flow Battery market was valued at 285.1 million in 2021 and is projected to reach US$ 571.1 million by 2028, at a CAGR of 10.4% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Vanadium Redox Flow Battery Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Redox Flow Battery include Sumitomo Electric, Dalian Rongke Power, UniEnergy Technologies, Gildemeister, Primus Power, redTENERGY Storage and EnSync, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Redox Flow Battery manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Redox Flow Battery Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (MWh)

Global Redox Flow Battery Market Segment Percentages, by Type, 2021 (%)

Vanadium Redox Flow Battery

Hybrid Flow Battery

Global Redox Flow Battery Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (MWh)

Global Redox Flow Battery Market Segment Percentages, by Application, 2021 (%)

Utility Facilities

Renewable Energy Integration

Others

Global Redox Flow Battery Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (MWh)

Global Redox Flow Battery Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Redox Flow Battery revenues in global market, 2017-2022 (Estimated), ($ millions)

Key companies Redox Flow Battery revenues share in global market, 2021 (%)

Key companies Redox Flow Battery sales in global market, 2017-2022 (Estimated), (MWh)

Key companies Redox Flow Battery sales share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

Sumitomo Electric

Dalian Rongke Power

UniEnergy Technologies

Gildemeister

Primus Power

redTENERGY Storage

EnSync