Iron Flow Batteries Market Size and Share Analysis by Type (Redox, Hybrid), Application (Utilities, Commercial and Industrial, EV charging stations, Microgrids), Material (Vanadium, Zinc Bromine) -Global Industry Demand Forecast to 2030

Description

Market Overview

The iron flow batteries industries are estimated to attain a revenue of USD 26.9 million by the end of 2023, with a projected CAGR of 29.5% over the projection period, mainly reaching USD 163.5 million by 2030. This can be credited to the rising need for energy, the addition of renewable power sources, solar and wind, government backing for rural electrification, the long-life cycle and security aids of these power storage devices, and rising R&D activities.

One of the main drivers of the growing market is the fact that very few cycles of charge and discharge could impair the capacity of these systems which almost makes them indestructible. This, thus, becomes a cost-efficient energy storage medium for both the short and long term. It is also the factor that allows this type of settlement to get rid of repair issues and to make possessions cheaper.

In addition, the developments in relevant technologies that worked to increase the specific energy density, cost-effectiveness, and performance of these batteries have made the market grow faster. The rescaling of these evolutions has been the center of attention hence resulting in a higher degree of competition in wider energy markets. What is more, battery energy storage plays a significant role in the industry of renewables, especially during high-generation periods.

Key Insights

Data centers play a vital role in storing, processing, and handling huge quantities of data produced by persons and businesses.

Data-intensive applications such as big data analytics, AI, and cloud computing propel the need for augmented data center capacity worldwide.

A dependable and constant energy supply is vital for data centers to guarantee swift functioning, with some of the prime data centers using more than 100 MW of electricity.

In recent times, decentralized or edge data centers that provide ubiquitous power solutions are gaining in number and thus require localized and efficient power infrastructure that is uninterrupted all the time.

The demand for reliable hardware generation and data center capacity is only sustainably itself with the growth of new digital services and applications.

Data center power storage systems, for example, flow batteries, are vital backup providers and can prevent downtime and ensure smooth operation by working during power outages.

The North American region is projected to lead the industry with an estimated development rate of 50% in the few coming years.

Development can be credited to the increasing oil & gas, chemical, and power generation industries in the continent.

Major players are focused in North America, vigorously introducing new products and growing their customer bases.

The growing requirement for renewable power storage systems and grid steadiness is propelling industry growth.

Iron flow batteries are witnessing rising usage in several applications such as microgrid, grid-scale, and stationary storage in the region.

The APAC region is projected to advance at a CAGR of 30.4% during the projection period because of cheap labor and raw materials, making it an important hub for manufacturing sectors.

Regional expenditures in renewable power projects are propelling market development.

Japan and Australia display a growing need for power storage systems in commercial, industrial, and utilities industries.

China's industry is estimated to advance significantly at a CAGR of 30.6%, with numerous working flow battery installations and large-scale industrial development.

Utility companies are deploying flow battery projects for grid-scale applications to manage grid stability and intermittent renewable energy sources.

Product Code: 12802

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by material
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Volume, by Type (2017-2030)
6.3. Market Revenue, by Type (2017-2030)
6.4. Market Volume, by Application (2017-2030)
6.5. Market Revenue, by Application (2017-2030)
6.6. Market Volume, by Material (2017-2030)
6.7. Market Revenue, by Material (2017-2030)
6.8. Market Volume, by Region (2017-2030)
6.9. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Type (2017-2030)
7.3. Market Revenue, by Type (2017-2030)
7.4. Market Volume, by Application (2017-2030)
7.5. Market Revenue, by Application (2017-2030)
7.6. Market Volume, by Material (2017-2030)
7.7. Market Revenue, by Material (2017-2030)
7.8. Market Volume, by Country (2017-2030)
7.9. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Type (2017-2030)
8.3. Market Revenue, by Type (2017-2030)
8.4. Market Volume, by Application (2017-2030)
8.5. Market Revenue, by Application (2017-2030)
8.6. Market Volume, by Material (2017-2030)
8.7. Market Revenue, by Material (2017-2030)
8.8. Market Volume, by Country (2017-2030)
8.9. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Type (2017-2030)
9.3. Market Revenue, by Type (2017-2030)
9.4. Market Volume, by Application (2017-2030)
9.5. Market Revenue, by Application (2017-2030)
9.6. Market Volume, by Material (2017-2030)
9.7. Market Revenue, by Material (2017-2030)
9.8. Market Volume, by Country (2017-2030)
9.9. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Type (2017-2030)
10.3. Market Revenue, by Type (2017-2030)
10.4. Market Volume, by Application (2017-2030)
10.5. Market Revenue, by Application (2017-2030)
10.6. Market Volume, by Material (2017-2030)
10.7. Market Revenue, by Material (2017-2030)
10.8. Market Volume, by Country (2017-2030)
10.9. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Type (2017-2030)
11.3. Market Revenue, by Type (2017-2030)
11.4. Market Volume, by Application (2017-2030)
11.5. Market Revenue, by Application (2017-2030)
11.6. Market Volume, by Material (2017-2030)
11.7. Market Revenue, by Material (2017-2030)
11.8. Market Volume, by Country (2017-2030)
11.9. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Type (2017-2030)
12.3. Market Revenue, by Type (2017-2030)
12.4. Market Volume, by Application (2017-2030)
12.5. Market Revenue, by Application (2017-2030)
12.6. Market Volume, by Material (2017-2030)
12.7. Market Revenue, by Material (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Type (2017-2030)
13.3. Market Revenue, by Type (2017-2030)
13.4. Market Volume, by Application (2017-2030)
13.5. Market Revenue, by Application (2017-2030)
13.6. Market Volume, by Material (2017-2030)
13.7. Market Revenue, by Material (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Type (2017-2030)
14.3. Market Revenue, by Type (2017-2030)
14.4. Market Volume, by Application (2017-2030)
14.5. Market Revenue, by Application (2017-2030)
14.6. Market Volume, by Material (2017-2030)
14.7. Market Revenue, by Material (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Type (2017-2030)
15.3. Market Revenue, by Type (2017-2030)
15.4. Market Volume, by Application (2017-2030)
15.5. Market Revenue, by Application (2017-2030)
15.6. Market Volume, by Material (2017-2030)
15.7. Market Revenue, by Material (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Type (2017-2030)
16.3. Market Revenue, by Type (2017-2030)
16.4. Market Volume, by Application (2017-2030)
16.5. Market Revenue, by Application (2017-2030)
16.6. Market Volume, by Material (2017-2030)
16.7. Market Revenue, by Material (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Type (2017-2030)
17.3. Market Revenue, by Type (2017-2030)
17.4. Market Volume, by Application (2017-2030)
17.5. Market Revenue, by Application (2017-2030)
17.6. Market Volume, by Material (2017-2030)
17.7. Market Revenue, by Material (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Type (2017-2030)
18.3. Market Revenue, by Type (2017-2030)
18.4. Market Volume, by Application (2017-2030)
18.5. Market Revenue, by Application (2017-2030)
18.6. Market Volume, by Material (2017-2030)
18.7. Market Revenue, by Material (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Type (2017-2030)
19.3. Market Revenue, by Type (2017-2030)
19.4. Market Volume, by Application (2017-2030)
19.5. Market Revenue, by Application (2017-2030)
19.6. Market Volume, by Material (2017-2030)
19.7. Market Revenue, by Material (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Type (2017-2030)
20.3. Market Revenue, by Type (2017-2030)
20.4. Market Volume, by Application (2017-2030)
20.5. Market Revenue, by Application (2017-2030)
20.6. Market Volume, by Material (2017-2030)
20.7. Market Revenue, by Material (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Type (2017-2030)
21.3. Market Revenue, by Type (2017-2030)
21.4. Market Volume, by Application (2017-2030)
21.5. Market Revenue, by Application (2017-2030)
21.6. Market Volume, by Material (2017-2030)
21.7. Market Revenue, by Material (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Type (2017-2030)
22.3. Market Revenue, by Type (2017-2030)
22.4. Market Volume, by Application (2017-2030)
22.5. Market Revenue, by Application (2017-2030)
22.6. Market Volume, by Material (2017-2030)
22.7. Market Revenue, by Material (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Type (2017-2030)
23.3. Market Revenue, by Type (2017-2030)
23.4. Market Volume, by Application (2017-2030)
23.5. Market Revenue, by Application (2017-2030)
23.6. Market Volume, by Material (2017-2030)
23.7. Market Revenue, by Material (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Type (2017-2030)
24.3. Market Revenue, by Type (2017-2030)
24.4. Market Volume, by Application (2017-2030)
24.5. Market Revenue, by Application (2017-2030)
24.6. Market Volume, by Material (2017-2030)
24.7. Market Revenue, by Material (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Type (2017-2030)
25.3. Market Revenue, by Type (2017-2030)
25.4. Market Volume, by Application (2017-2030)
25.5. Market Revenue, by Application (2017-2030)
25.6. Market Volume, by Material (2017-2030)
25.7. Market Revenue, by Material (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Type (2017-2030)
26.3. Market Revenue, by Type (2017-2030)
26.4. Market Volume, by Application (2017-2030)
26.5. Market Revenue, by Application (2017-2030)
26.6. Market Volume, by Material (2017-2030)
26.7. Market Revenue, by Material (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Type (2017-2030)
27.3. Market Revenue, by Type (2017-2030)
27.4. Market Volume, by Application (2017-2030)
27.5. Market Revenue, by Application (2017-2030)
27.6. Market Volume, by Material (2017-2030)
27.7. Market Revenue, by Material (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Type (2017-2030)
28.3. Market Revenue, by Type (2017-2030)
28.4. Market Volume, by Application (2017-2030)
28.5. Market Revenue, by Application (2017-2030)
28.6. Market Volume, by Material (2017-2030)
28.7. Market Revenue, by Material (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Sumitomo Electric Group
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. ViZn Energy Systems
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Primus Power Solutions Private Limited
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. ESS Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. CellCube Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. VRB Energy
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Invinity Energy Systems
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Lockheed Martin Corporation
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Largo Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Redflow Limited
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports