Flow Battery Market Opportunity, Demand, Trends and Analysis

A flow battery is basically an electrochemical energy storage system that is rechargeable. It converts the chemical energy stored in the battery into electrical energy, similar to fuel cells and conventional batteries. It is suitable for providing backup power to large-scale application systems such as grid scale power systems.

A typical flow battery consists of two compartments, known as tanks. These tanks contain electrodes and are separated by a membrane. The flow battery is charged and discharged by chemical reactions between the liquid electrolytes.

Technavio's analysts forecast the global flow battery market to grow at a CAGR of 9.4% during the period 2016-2020.

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Covered in this report

The report covers the present scenario and the growth prospects of the global flow battery market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.

The market is divided into the following segments based on battery type:

Redox battery system

Hybrid battery systems

others

Technavio's report, Global Flow Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

EnerVault

Imergy

Primus Power

Prudent Energy

Other prominent vendros

Aquion Energy

EnSync Energy Systems

Redflow

Sumitomo Electric

UniEnergy Technologies

Market driver

Increased government support

For a full, detailed list, view our report

Market challenge

Competition from other energy storage technologies

For a full, detailed list, view our report

Market trend

Increased use of flow battery in electric...