Global Flow Battery Market : Analysis and Opportunity Assessment 2017Posted by Bharat Book on January 27th, 2018 Bharat Book Bureau Provides the Trending Market Research Report on Global Flow Battery Market Forecast 2017 under Consumer & Goods category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects. Inherent advantages of flow battery propelling the growth of the flow battery market The Flow Battery Market is expected to grow at a CAGR of 32.7% between 2017 and 2023 to reach USD 946.3 million by 2023, from USD 230.2.7 million in 2017. Flow battery has several technical advantages over many batteries such as lithium-ion, lead-acid, or solid state. Unlike conventional batteries that store energy in an electrode material, flow batteries store energy as electrolytes in external tanks. As electrolytes can be easily replaced, it is among the major advantages that drive the market for flow batteries. However, the technical drawbacks and high construction cost of flow batteries limit the growth of the flow battery market. The growth of flow battery market expected to be driven by the utilities application during the forecast period The utilities application is expected to hold a significant share of the flow battery market during the forecast period. With electric infrastructure and the growing need for higher energy capacity and production, modernization of grid system has become essential worldwide. Also, increasing penetration of renewable energy across the grid has, in turn, increased the need for efficient, flexible, and long operating life energy storage solutions. A flow battery, with all its attractive features, has become the most preferred energy storage technology for utility-based storage, as large-sale utilities require technologies that can cost-effectively store renewable energy for future grid-use at any location. Among all the applications, flow batteries are the most widely commercialized for various applications the utilities sector. Request a free sample copy of Flow Battery Market Report @ The flow battery market in APAC expected to grow at the highest CAGR during forecast period The market for flow battery in APAC is expected to grow at the highest CAGR between 2017 and 2023. In recent years, many countries—such as China, Japan, India, and Australia—are striving to boost their large-scale energy storage capacity through battery technologies that could, in turn, enhance electric stability. In countries such as India, China, and Japan, respective governments have laid regulations and reforms as well as initiatives for modernizing the power sector. APAC has several operational flow battery installations with large power ratings. Also, the growth in microgrid projects in India and Japan encourages manufacturers to cater to the needs of potential customers in the region. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the flow battery market. Following is the breakup of the primary participants for the report: • By Company Type: Tier 1 = 50 %, Tier 2 = 30%, and Tier 3 = 20% Moreover, the report profiles the key players in the flow battery market and analyzes their market ranking. The prominent players profiled in this report are ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US). Research Coverage: This research report categorizes the flow battery market on the basis of type, material, storage, application, and region. Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market as well as the value chain analysis and market ranking analysis. Reasons to Buy the Report: The report would help the leaders/new entrants in the flow battery market in the following ways: Browse our full report with Table of Contents : About Bharat Book Bureau: Contact us at: Follow us on : Twitter, Facebook, LinkedIn, Google Plus Like it? Share it!More by this author |