Global Flow Battery Market Forecast to 2023 - Renewable Intermittency Concerns are Supplementing Market Demand - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 28, 2018--The “Global Flow Battery Market - Segmented by Type, Material, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
Factors, such as easy replaceability of electrolyte have placed flow batteries as a potentially better substitute for lead-acid, lithium-ion, or solid-state batteries.
The accelerating growth of renewable intermittent electricity supplies (solar, wind, tidal, etc.), which reached a cumulative installed capacity of 2179.09 GW across the globe in 2017, has also supplemented the requirement of energy storage installations, which are at present majorly fulfilled by lithium-ion batteries.
Despite the higher initial investment, demand for flow batteries are growing at a significant rate across the globe and are expected to have the capability to surpass lithium-ion batteries, in applications that demand long-duration power stability, such as grid-scale usage.
Furthermore, factors such as longer lifetimes, reduced fire risk, and their recyclable nature, is expected to supplement the demand for flow batteries during the forecast period.
As the demand-supply gap is expected to improve in 2018, Vanadium is expected to be the largest market among all other material types during the forecast period, particularly owing to increasing demand for energy storage applications.
Key HighlightsRenewable Intermittency Concerns Supplementing the Demand Europe to Witness High Growth Rate China Set to Maintain High Demand
Notable Developments in the MarketESS Inc, the US-based manufacturer of a novel iron flow battery, entered the German market via an agreement with the investor, chemical company BASF. Pu Neng, one of the leading providers of vanadium flow battery technology in the world, signed the Hubei Zaoyang project contract with Hubei Pingfan Vanadium Energy Storage Technology Company for the largest vanadium flow battery in China.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
7. Market Segmentation & Analysis
8. Regional Market Analysis
9. Key Company AnalysisESS Inc. Redt Energy PLC Sumitomo Electric Industries Ltd. Redflow Limited American Vanadium Corp. UniEnergy Technologies LLC NanoFlowcell Lockheed Martin Corporation H2 Inc. Pu Neng Energy Vionx Energy Corporation
10. Competitive Landscape
11. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/cf7jvp/global_flow?w=4
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Related Topics:Battery Technology
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES
SOURCE: Research and Markets
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PUB: 09/28/2018 07:26 AM/DISC: 09/28/2018 07:26 AM