Demand for Longer duration Storage will Drive Future Growth Potential
This study provides a broad overview of the global stationary flow battery energy storage market, identifying the factors driving and restraining growth. The increasing adoption of renewable sources of power, particularly in the utilities and commercial and industrial (C&I) sectors, has driven the demand for long-duration energy storage systems.
Flow batteries for energy storage make economic sense in many countries that have access to the resources used in electrolytes. They have gained attention for the advantages (non-flammability, long lifecycles, etc.) they provide over lithium batteries. The study also examines the investment commitments towards the development of flow batteries made by the stakeholders in the industry. The base year is 2022, and the forecast period is 2023 to 2030.
KEY ISSUES ADDRESSED:
- What is the value proposition of flow battery energy storage as long-duration energy storage?
- What are the advantages and disadvantages of the different types of flow batteries? How do they compare with the advantages and disadvantages of lithium batteries?
- What is the installed capacity of flow battery storage assets globally, and what is the total storage capacity addition potential by region and storage type during the forecast period?
- Who are the key end users, and what are some of the flow battery hotspots globally?
- What are the factors considered when adopting energy storage technologies?
- What degree of policy support is available for value chain participants in different regions across the globe?
- Who are the key players in the vanadium flow battery value chain?
- What are the growth opportunities available for new entrants and existing players?
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- CellCube Inc.
- ESS Inc.
- Redflow Limited
