Redox Flow Battery Market Dynamics 2021-2031
A battery is a collection of cells that stores, and releases energy as needed. A redox flow battery is an electrochemical cell in which chemical energy is provided by two chemical components that are dissolved in a liquid-contained system and separated by a membrane. The redox flow battery's term redox refers to a redox reaction, which is defined as a change in the oxidation level of a chemical, such as reduction and oxidation. Electrons are moved from one element to another during this process, and the total configuration generates energy.
MARKET DYNAMICS
The global redox flow battery market is still in its early stages, and different changes are now being observed. Because of its numerous advantages, the redox flow battery is widely employed in energy storage applications. As a result, the demand for the redox flow battery is fueled by an increase in energy producing activities and capabilities.
MARKET SCOPE
The "Global Redox Flow Battery Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The redox flow battery market report aims to provide an overview of the redox flow battery market with detailed market segmentation by type, application, and geography. The global redox flow battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading redox flow battery market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global redox flow battery market is segmented based on fuel by type, application. Based on type, the redox flow battery market is segmented into vanadium, hybrid. Based on application, the redox flow battery market is segmented into utility services, renewable energy integration, UPS, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global redox flow battery market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The redox flow battery market by each region is later sub-segmented by respective countries and segments. The redox flow battery market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the redox flow battery market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the redox flow battery market in these regions.
IMPACT OF COVID-19 ON REDOX FLOW BATTERY MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global redox flow battery market. The supply chain disruptions influenced the declined in investment and procurement of redox flow batteries. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturing of the redox flow batteries thereby impacting the growth of the global redox flow battery market.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global redox flow battery market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The redox flow battery market by each region is later sub-segmented by respective countries and segments. The redox flow battery market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the redox flow battery market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the redox flow battery market in these regions.
IMPACT OF COVID-19 ON REDOX FLOW BATTERY MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global redox flow battery market. The supply chain disruptions influenced the declined in investment and procurement of redox flow batteries. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturing of the redox flow batteries thereby impacting the growth of the global redox flow battery market.
MARKET PLAYERS
The reports cover key developments in the redox flow battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from redox flow battery market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the redox flow battery market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the redox flow battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Avalon Battery Corporation
- Dalian Rongke Power Co., Ltd.
- HydraRedox
- H2, Inc.
- StorEn Technologies Inc.
- Storion Energy
- Sumitomo Electric Industries, Ltd.
- Largo Inc.
- Enerox GmbH
- Invinity Energy Systems
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Redox Flow Battery Market - By Type
1.3.2 Redox Flow Battery Market - By Application
1.3.3 Redox Flow Battery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REDOX FLOW BATTERY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. REDOX FLOW BATTERY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. REDOX FLOW BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. REDOX FLOW BATTERY - GLOBAL MARKET OVERVIEW
6.2. REDOX FLOW BATTERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. REDOX FLOW BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. VANADIUM
7.3.1. Overview
7.3.2. Vanadium Market Forecast and Analysis
7.4. HYBRID
7.4.1. Overview
7.4.2. Hybrid Market Forecast and Analysis
8. REDOX FLOW BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. UTILITY SERVICES
8.3.1. Overview
8.3.2. Utility Services Market Forecast and Analysis
8.4. RENEWABLE ENERGY INTEGRATION
8.4.1. Overview
8.4.2. Renewable Energy Integration Market Forecast and Analysis
8.5. UPS
8.5.1. Overview
8.5.2. UPS Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. REDOX FLOW BATTERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Redox Flow Battery Market Overview
9.1.2 North America Redox Flow Battery Market Forecasts and Analysis
9.1.3 North America Redox Flow Battery Market Forecasts and Analysis - By Type
9.1.4 North America Redox Flow Battery Market Forecasts and Analysis - By Application
9.1.5 North America Redox Flow Battery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Redox Flow Battery Market
9.1.5.1.1 United States Redox Flow Battery Market by Type
9.1.5.1.2 United States Redox Flow Battery Market by Application
9.1.5.2 Canada Redox Flow Battery Market
9.1.5.2.1 Canada Redox Flow Battery Market by Type
9.1.5.2.2 Canada Redox Flow Battery Market by Application
9.1.5.3 Mexico Redox Flow Battery Market
9.1.5.3.1 Mexico Redox Flow Battery Market by Type
9.1.5.3.2 Mexico Redox Flow Battery Market by Application
9.2. EUROPE
9.2.1 Europe Redox Flow Battery Market Overview
9.2.2 Europe Redox Flow Battery Market Forecasts and Analysis
9.2.3 Europe Redox Flow Battery Market Forecasts and Analysis - By Type
9.2.4 Europe Redox Flow Battery Market Forecasts and Analysis - By Application
9.2.5 Europe Redox Flow Battery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Redox Flow Battery Market
9.2.5.1.1 Germany Redox Flow Battery Market by Type
9.2.5.1.2 Germany Redox Flow Battery Market by Application
9.2.5.2 France Redox Flow Battery Market
9.2.5.2.1 France Redox Flow Battery Market by Type
9.2.5.2.2 France Redox Flow Battery Market by Application
9.2.5.3 Italy Redox Flow Battery Market
9.2.5.3.1 Italy Redox Flow Battery Market by Type
9.2.5.3.2 Italy Redox Flow Battery Market by Application
9.2.5.4 United Kingdom Redox Flow Battery Market
9.2.5.4.1 United Kingdom Redox Flow Battery Market by Type
9.2.5.4.2 United Kingdom Redox Flow Battery Market by Application
9.2.5.5 Russia Redox Flow Battery Market
9.2.5.5.1 Russia Redox Flow Battery Market by Type
9.2.5.5.2 Russia Redox Flow Battery Market by Application
9.2.5.6 Rest of Europe Redox Flow Battery Market
9.2.5.6.1 Rest of Europe Redox Flow Battery Market by Type
9.2.5.6.2 Rest of Europe Redox Flow Battery Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Redox Flow Battery Market Overview
9.3.2 Asia-Pacific Redox Flow Battery Market Forecasts and Analysis
9.3.3 Asia-Pacific Redox Flow Battery Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Redox Flow Battery Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Redox Flow Battery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Redox Flow Battery Market
9.3.5.1.1 Australia Redox Flow Battery Market by Type
9.3.5.1.2 Australia Redox Flow Battery Market by Application
9.3.5.2 China Redox Flow Battery Market
9.3.5.2.1 China Redox Flow Battery Market by Type
9.3.5.2.2 China Redox Flow Battery Market by Application
9.3.5.3 India Redox Flow Battery Market
9.3.5.3.1 India Redox Flow Battery Market by Type
9.3.5.3.2 India Redox Flow Battery Market by Application
9.3.5.4 Japan Redox Flow Battery Market
9.3.5.4.1 Japan Redox Flow Battery Market by Type
9.3.5.4.2 Japan Redox Flow Battery Market by Application
9.3.5.5 South Korea Redox Flow Battery Market
9.3.5.5.1 South Korea Redox Flow Battery Market by Type
9.3.5.5.2 South Korea Redox Flow Battery Market by Application
9.3.5.6 Rest of Asia-Pacific Redox Flow Battery Market
9.3.5.6.1 Rest of Asia-Pacific Redox Flow Battery Market by Type
9.3.5.6.2 Rest of Asia-Pacific Redox Flow Battery Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Redox Flow Battery Market Overview
9.4.2 Middle East and Africa Redox Flow Battery Market Forecasts and Analysis
9.4.3 Middle East and Africa Redox Flow Battery Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Redox Flow Battery Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Redox Flow Battery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Redox Flow Battery Market
9.4.5.1.1 South Africa Redox Flow Battery Market by Type
9.4.5.1.2 South Africa Redox Flow Battery Market by Application
9.4.5.2 Saudi Arabia Redox Flow Battery Market
9.4.5.2.1 Saudi Arabia Redox Flow Battery Market by Type
9.4.5.2.2 Saudi Arabia Redox Flow Battery Market by Application
9.4.5.3 U.A.E Redox Flow Battery Market
9.4.5.3.1 U.A.E Redox Flow Battery Market by Type
9.4.5.3.2 U.A.E Redox Flow Battery Market by Application
9.4.5.4 Rest of Middle East and Africa Redox Flow Battery Market
9.4.5.4.1 Rest of Middle East and Africa Redox Flow Battery Market by Type
9.4.5.4.2 Rest of Middle East and Africa Redox Flow Battery Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Redox Flow Battery Market Overview
9.5.2 South and Central America Redox Flow Battery Market Forecasts and Analysis
9.5.3 South and Central America Redox Flow Battery Market Forecasts and Analysis - By Type
9.5.4 South and Central America Redox Flow Battery Market Forecasts and Analysis - By Application
9.5.5 South and Central America Redox Flow Battery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Redox Flow Battery Market
9.5.5.1.1 Brazil Redox Flow Battery Market by Type
9.5.5.1.2 Brazil Redox Flow Battery Market by Application
9.5.5.2 Argentina Redox Flow Battery Market
9.5.5.2.1 Argentina Redox Flow Battery Market by Type
9.5.5.2.2 Argentina Redox Flow Battery Market by Application
9.5.5.3 Rest of South and Central America Redox Flow Battery Market
9.5.5.3.1 Rest of South and Central America Redox Flow Battery Market by Type
9.5.5.3.2 Rest of South and Central America Redox Flow Battery Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. REDOX FLOW BATTERY MARKET, KEY COMPANY PROFILES
11.1. AVALON BATTERY CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DALIAN RONGKE POWER CO., LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HYDRAREDOX
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. H2, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. STOREN TECHNOLOGIES INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. STORION ENERGY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SUMITOMO ELECTRIC INDUSTRIES, LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. LARGO INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ENEROX GMBH
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. INVINITY ENERGY SYSTEMS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List Of Companies
- Avalon Battery Corporation
- Dalian Rongke Power Co., Ltd.
- HydraRedox
- H2, Inc.
- StorEn Technologies Inc.
- Storion Energy
- Sumitomo Electric Industries, Ltd.
- Largo Inc.
- Enerox GmbH
- Invinity Energy Systems
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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