According to the latest market research report released by Technavio, the global flow battery market is expected to accelerate at a CAGR of over 9% during the forecast period. The increasing concerns for Li-ion battery recycling is one of the key factors triggering the growth of the market.
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According to the latest market research report released by Technavio, the global flow battery market is expected to accelerate at a CAGR of over 9% until 2021. (Photo: Business Wire)
This research report titled ‘Global Flow Battery Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global flow battery market into the following battery types:
- Redox battery
- Hybrid battery
In 2016, the redox battery segment accounted for 72% of the global market and is projected to decline to 70% by 2021, exhibiting almost 2% decrease in market share.
Global flow battery market: An evolving trend
The increasing shift toward renewable energy is an emerging trend in the flow battery market space. Nations worldwide are shifting toward renewable energy sources such as solar and wind. Growing subsidies and incentives for solar and wind power generation and enhanced efficiency in energy harnessing have reduced the cost per kilowatt for power generation from these sources. The need for optimizing intermittency of renewable sources fed into the main grids and balancing the demand-supply gap has boosted the energy storage market growth. Energy storage ensures continuous power supply to the grid whenever needed, especially during peak load and power outage and during supply shift because of intermittency of renewables.
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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Flow Battery Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by battery type (redox battery and hybrid battery)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Primus Power, redT energy, UniEnergy Technologies, VanadiumCorp Resource, and Vionx Energy)
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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