Flow Battery Market Trends and Forecast 2026

Posted May 5, 2022 by avinashgogawale14

The Global Flow Battery Market Size is expected to grow from USD 214 million in 2021 to USD 489 million by 2026, at a CAGR of 18.0%
Top 5 Players in Flow Battery Market:

Sumitomo Electric Industries Ltd.

Sumitomo Electric Industries, Ltd. is one of the leading manufacturers of optical fiber cables and electric wires. The company operates through five business segments, namely, Automotive, Info Communications, Electronics, Energy & Environment, and Industrial Materials. It offers redox flow batteries through the Energy & Environment segment. These redox flow batteries are ideal for use in power grid systems and are well known for their safety features, long life, and operation in flexible working environments. Sumitomo Electric offers various products and solutions under various categories that include raw materials, components, modules, end products, and systems. These products and solutions find applications in numerous industries, including automotive, IT, electronics, and energy & environment.

UniEnergy Technologies

UniEnergy Technologies is engaged in the manufacturing of energy storage systems. The company majorly provides grid-scale energy storage systems and new advanced redox flow batteries, which stores electrical energy in the form of liquid electrolytes, to various industry leaders in the related fields. The primary product provided by the company is an advanced vanadium redox flow battery named ReFlex battery. The ReFlex battery finds applications in various micro-grids, utilities, and commercial and industrial projects. The battery is well known for its characteristics such as flexibility and resiliency in the working environment, compact size, safety, 1GWh cycling capacity, and capability of 100kW–10MW storage.

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ViZn Energy Systems

ViZn Energy Systems provides safe, versatile, and economical energy storage solutions. The company offers hybrid zinc/iron flow batteries that utilize alkaline electrochemical components dissolved in electrolytes for energy storage. These flow batteries are designed for applications in utilities, microgrids, solar and wind plants, military and public sectors, and industrial and commercial projects. The batteries are known for their robust performance, safety, low lifecycle cost, and high power.

Primus Power

Primus Power is one of the leading providers of low-cost, fade-free, grid-scale, and long-duration energy storage solutions. The company provides a zinc bromide flow battery, namely, EnergyPod2, which exhibits provides long-duration, full power, multi-decade life without any fire risk and electrode stack replacement. The energy storage solutions by Primus Power serve multiple storage applications for numerous commercial and industrial, data center, microgrid, and utility customers. The company is gaining demand for flow batteries on the global level—EnergyPod2 is being shipped worldwide.

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ESS, Inc.

ESS, Inc. is one of the leading manufacturers of energy storage systems. The company offers iron flow battery systems as an energy storage solution known for their water-based, non-hazardous, safe, and fully recyclable functioning. It provides these flow batteries for applications in utility-scale, commercial, and industrial projects, microgrids, distributed energy management systems (DERMS), and virtual power plants (VPPs). The iron flow batteries are designed to provide more than 20,000 power cycles and fast electrical response time with low maintenance needs. The batteries are featured to have a life of over 20 years. The solutions offered by the company include the Energy Warehouse (EW) and Energy Center (EC), which act as platforms for energy storage using iron, salt, and water for the electrolyte.

The Global Flow Battery Market Size is expected to grow from USD 214 million in 2021 to USD 489 million by 2026, at a CAGR of 18.0%. Inherent advantages of flow batteries, increasing investments in renewable energy, high demand for flow batteries in utilities, and increase in telecommunication tower installations are the key factors driving the growth of the Flow Battery Market.

Key Players Operating in Flow Battery Market include major players operating in different stages in the entire value chain of flow battery; these players are Sumitomo Electric Industries Ltd. (Japan), UniEnergy Technologies (US), ViZn Energy Systems (US), Primus Power (US), and ESS, Inc. (US). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnerships and expansions, to increase their revenue.

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Last Updated May 5, 2022