Change Language

Select Language

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Redox Flow Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global redox flow battery market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

A redox flow battery is a rechargeable, electrochemical device that converts chemical energy into electrical energy via reduction of working fluids and reversible oxidation. It is clean, efficient, reliable, sustainable, and cost?effective compared to other types of batteries like lead?acid and lithium?ion. As it has a flexible system design, it can store energy from intermittent electricity sources, such as solar and wind. Nowadays, the use of renewable energy sources is growing significantly, which is catalyzing the demand for redox flow batteries in several end use industries.

Redox Flow Battery Market Trends:

Fossil fuels have become one of the most exploited sources to generate electricity. This is resulting in the increasing amount of carbon dioxide (CO2) emission in the atmosphere, which is disrupting the ecosphere and causing harmful impacts on the climate. As a result, governing agencies of several countries are encouraging the use of environment-friendly alternatives to generate energy from renewable sources. This represents one of the major factors escalating the demand for redox flow batteries around the world. Moreover, the growing consumption of electricity on account of rapid urbanization and the increasing global population is resulting in frequent power supply interruptions. This is also positively influencing the adoption of redox flow batteries in rechargeable, electrochemical energy storage to enhance the stability of grid networks and store surplus electricity. The stored energy can be delivered to customers, thereby providing a solution to tackle blackout issues. Apart from this, several market players are offering hybrid redox flow batteries, which are strengthening the growth of the market. Furthermore, increasing investments in research and development (R&D) by leading players and the growing popularity of electric vehicles (EVs) are projected to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global redox flow battery market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, product and application.

Breakup by Type:

  • Vanadium Redox Flow Battery
  • Hybrid Redox Flow Battery
     

Breakup by Product:

  • Compact
  • Large Scale
     

Breakup by Application:

  • Utility Services
  • Renewable Energy Integration
  • UPS
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being CellCube Energy Storage Systems Inc, H2 Inc, HydraRedox, Invinity Energy Systems, Largo Resources Ltd., LE SYSTEM CO. Ltd., Lockheed Martin Corporation, StorEn Technologies Inc, Storion Energy and Sumitomo Electric Industries Ltd.

Report Coverages:

Report Features Details
Base Year of the Analysis 2020
    Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Million
Segment Coverage Type, Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered CellCube Energy Storage Systems Inc, H2 Inc, HydraRedox, Invinity Energy Systems, Largo Resources Ltd., LE SYSTEM CO. Ltd., Lockheed Martin Corporation, StorEn Technologies Inc, Storion Energy and Sumitomo Electric Industries Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option                                     Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global redox flow battery market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global redox flow battery market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global redox flow battery market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Redox Flow Battery Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Vanadium Redox Flow Battery
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Hybrid Redox Flow Battery
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Product
    7.1    Compact
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Large Scale
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Application
    8.1    Utility Services
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Renewable Energy Integration
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    UPS
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    CellCube Energy Storage Systems Inc
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    H2 Inc
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    HydraRedox
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Invinity Energy Systems
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Largo Resources Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
        14.3.6    LE SYSTEM CO. Ltd.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Lockheed Martin Corporation
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    StorEn Technologies Inc
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Storion Energy
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Sumitomo Electric Industries Ltd
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis 

List of Figures

Figure 1: Global: Redox Flow Battery Market: Major Drivers and Challenges
Figure 2: Global: Redox Flow Battery Market: Sales Value (in Million US$), 2015-2020
Figure 3: Global: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Global: Redox Flow Battery Market: Breakup by Type (in %), 2020
Figure 5: Global: Redox Flow Battery Market: Breakup by Product (in %), 2020
Figure 6: Global: Redox Flow Battery Market: Breakup by Application (in %), 2020
Figure 7: Global: Redox Flow Battery Market: Breakup by Region (in %), 2020
Figure 8: Global: Redox Flow Battery (Vanadium Redox Flow Battery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: Redox Flow Battery (Vanadium Redox Flow Battery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Redox Flow Battery (Hybrid Redox Flow Battery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Redox Flow Battery (Hybrid Redox Flow Battery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Redox Flow Battery (Compact) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Redox Flow Battery (Compact) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Redox Flow Battery (Large Scale) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Redox Flow Battery (Large Scale) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Redox Flow Battery (Utility Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Redox Flow Battery (Utility Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Redox Flow Battery (Renewable Energy Integration) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Redox Flow Battery (Renewable Energy Integration) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Redox Flow Battery (UPS) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Redox Flow Battery (UPS) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Redox Flow Battery (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Redox Flow Battery (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: North America: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: North America: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: United States: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: United States: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Canada: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Canada: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Asia-Pacific: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Asia-Pacific: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: China: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: China: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Japan: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Japan: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: India: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: India: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: South Korea: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: South Korea: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Australia: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Australia: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Indonesia: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Indonesia: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Others: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Others: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Europe: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Europe: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Germany: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Germany: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: France: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: France: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: United Kingdom: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: United Kingdom: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Italy: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Italy: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Spain: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Spain: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Russia: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Russia: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Others: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Others: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Latin America: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Latin America: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Brazil: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Brazil: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Mexico: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Mexico: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Others: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Others: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Middle East and Africa: Redox Flow Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Middle East and Africa: Redox Flow Battery Market: Breakup by Country (in %), 2020
Figure 72: Middle East and Africa: Redox Flow Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Global: Redox Flow Battery Industry: SWOT Analysis
Figure 74: Global: Redox Flow Battery Industry: Value Chain Analysis
Figure 75: Global: Redox Flow Battery Industry: Porter's Five Forces Analysis 

List of Tables

Table 1: Global: Redox Flow Battery Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Redox Flow Battery Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Redox Flow Battery Market Forecast: Breakup by Product (in Million US$), 2021-2026
Table 4: Global: Redox Flow Battery Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Redox Flow Battery Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Redox Flow Battery Market: Competitive Structure
Table 7: Global: Redox Flow Battery Market: Key Players

Note: We value your privacy and will never rent or sell your email address. Privacy policy

Need more help?

  •   Speak to our experienced analysts for insights on the current market scenarios.
  •   Include additional segments and countries to customize the report as per your requirement.
  •   Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  •   For further assistance, please connect with our analysts.

Purchase Options




$ 2299

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )


Drop us an email at

sales@imarcgroup.com

Social Links