Flow Battery Market by Type (Redox  and Hybrid)  Material (Vanadium  Zinc-Bromine)  Storage (Compact and Large scale)  Application (Utilities  Commercial & Industrial  Military  EV Charging Station)  and Geography - Global Forecast to 2023

Flow Battery Market by Type (Redox and Hybrid) Material (Vanadium Zinc-Bromine) Storage (Compact and Large scale) Application (Utilities Commercial & Industrial Military EV Charging Station) and Geography - Global Forecast to 2023

MarketsandMarkets | ID: 1524117766186 | Published at: 2018-01-22 | Pages: 167

  • €4.785,63


“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 2018. 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. “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 2018 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%
• By Designation: C-Level Executives = 60%, Directors = 25%, and Others = 15%
• By Region: North America = 35%, Europe = 30%, APAC = 25%, and RoW = 10%
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:
1. The report segments the flow battery market comprehensively and provides the market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the flow battery market.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the flow battery market. The competitive landscape section describes the competitor ecosystem.

TABLE OF CONTENTS

1 INTRODUCTION 13

  • 1.1 OBJECTIVES OF THE STUDY 13
  • 1.2 DEFINITION 13
  • 1.3 SCOPE OF THE STUDY 14
    • 1.3.1 GEOGRAPHIC SCOPE 15
    • 1.3.2 YEARS CONSIDERED FOR THE STUDY 15
  • 1.4 CURRENCY 16
  • 1.5 LIMITATIONS 16
  • 1.6 STAKEHOLDERS 16
    2 RESEARCH METHODOLOGY 17
  • 2.1 RESEARCH DATA 17
  • 2.2 SECONDARY AND PRIMARY RESEARCH 19
    • 2.2.1 SECONDARY DATA 20
      • 2.2.1.1 Secondary sources 20
    • 2.2.2 PRIMARY DATA 21
      • 2.2.2.1 Primary sources 21
      • 2.2.2.2 Key industry insights 22
      • 2.2.2.3 Breakdown of primaries 22
  • 2.3 MARKET SIZE ESTIMATION 22
    • 2.3.1 BOTTOM-UP APPROACH 23
      • 2.3.1.1 Approach for arriving at the market share by bottom-up approach (demand side) 23
    • 2.3.2 TOP-DOWN APPROACH 24
      • 2.3.2.1 Approach for arriving at the market share by top-down analysis (supply side) 24
  • 2.4 DATA TRIANGULATION 25
  • 2.5 ASSUMPTIONS 26
    3 EXECUTIVE SUMMARY 27
    4 PREMIUM INSIGHTS 33
  • 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN THE FLOW BATTERY MARKET 33
  • 4.2 FLOW BATTERY MARKET, BY MATERIAL 34
  • 4.3 FLOW BATTERY MARKET IN NORTH AMERICA, BY COUNTRY AND APPLICATION 34
  • 4.4 FLOW BATTERY MARKET, BY TYPE 35
  • 4.5 FLOW BATTERY MARKET, BY REGION, 2018 35

5 MARKET OVERVIEW 36

  • 5.1 INTRODUCTION 36
  • 5.2 MARKET DYNAMICS 36
    • 5.2.1 DRIVERS 37
      • 5.2.1.1 Inherent advantages of flow battery 37
      • 5.2.1.2 Increasing investment in renewable energy 37
      • 5.2.1.3 High demand from utilities sector 38
      • 5.2.1.4 Rise in telecommunications tower installations 39
    • 5.2.2 RESTRAINTS 39
      • 5.2.2.1 High construction cost of flow batteries 39
      • 5.2.2.2 Technical hindrance restraining the market 40
      • 5.2.2.3 Lack of proper standards for development of flow battery system 40
    • 5.2.3 OPPORTUNITIES 40
      • 5.2.3.1 Large storage requirements in data centers 40
      • 5.2.3.2 Growing penetration in residential applications 40
      • 5.2.3.3 Technological innovations with improved capabilities 41
    • 5.2.4 CHALLENGES 41
      • 5.2.4.1 High competition from conventional battery technologies 41
  • 5.3 VALUE CHAIN ANALYSIS 42
  • 5.4 FLOW BATTERY PROJECTS 44
    6 FLOW BATTERY MARKET, BY TYPE 52
  • 6.1 INTRODUCTION 53
  • 6.2 REDOX FLOW BATTERY 54
  • 6.3 HYBRID FLOW BATTERY 56
    7 FLOW BATTERY MARKET, BY MATERIAL 57
  • 7.1 INTRODUCTION 58
  • 7.2 VANADIUM 60
  • 7.3 ZINC–BROMINE 60
  • 7.4 OTHERS 61
    8 FLOW BATTERY MARKET, BY STORAGE 62
  • 8.1 INTRODUCTION 63
  • 8.2 COMPACT 65
  • 8.3 LARGE SCALE 66
    9 FLOW BATTERY MARKET, BY APPLICATION 67
  • 9.1 INTRODUCTION 68
  • 9.2 UTILITIES 70
  • 9.3 COMMERCIAL AND INDUSTRIAL 75
  • 9.4 MILITARY 79
  • 9.5 EV CHARGING STATION 83
  • 9.6 OTHERS 87
    10 GEOGRAPHIC ANALYSIS 92
  • 10.1 INTRODUCTION 93
  • 10.2 NORTH AMERICA 95
    • 10.2.1 US 98
    • 10.2.2 CANADA 99
    • 10.2.3 MEXICO 101
  • 10.3 EUROPE 101
    • 10.3.1 GERMANY 104
    • 10.3.2 UK 105
    • 10.3.3 FRANCE 107
    • 10.3.4 REST OF EUROPE 107
  • 10.4 APAC 108
    • 10.4.1 CHINA 111
    • 10.4.2 JAPAN 112
    • 10.4.3 INDIA 114
    • 10.4.4 AUSTRALIA 115
    • 10.4.5 REST OF APAC 116
  • 10.5 ROW 117
    • 10.5.1 MIDDLE EAST 118
    • 10.5.2 SOUTH AMERICA 119
    • 10.5.3 AFRICA 120
      11 COMPETITIVE LANDSCAPE 122
  • 11.1 OVERVIEW 122
  • 11.2 MARKET RANKING ANALYSIS, 2017 123
  • 11.3 COMPETITIVE SITUATION AND TRENDS 124
    • 11.3.1 CONTRACTS, COLLABORATIONS, AND AGREEMENTS 125
    • 11.3.2 PRODUCT LAUNCHES AND DEVELOPMENTS 125
    • 11.3.3 PARTNERSHIP AND EXPANSION 126
      12 COMPANY PROFILES 127
      (Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
  • 12.1 KEY PLAYERS 127
    • 12.1.1 GILDEMEISTER ENERGY SOLUTIONS 127
    • 12.1.2 REDT ENERGY 130
    • 12.1.3 SUMITOMO ELECTRIC 133
    • 12.1.4 UNIENERGY TECHNOLOGIES 136
    • 12.1.5 VIZN ENERGY SYSTEMS 138
    • 12.1.6 ENSYNC ENERGY SYSTEMS 140
    • 12.1.7 ESS INC. 142
    • 12.1.8 PRIMUS POWER 143
    • 12.1.9 REDFLOW 145
    • 12.1.10 SCHMID 147
    • 12.1.11 VIONX ENERGY 149
  • 12.2 OTHER COMPANIES 151
    • 12.2.1 ELESTOR 151
    • 12.2.2 JENABATTERIES 151
    • 12.2.3 VOLTERION 152
    • 12.2.4 VOLTSTORAGE 152
    • 12.2.5 LOCKHEED MARTIN 153
    • 12.2.6 H2 INC. 153
    • 12.2.7 PU NENG ENERGY 154
    • 12.2.8 KEMWATT 154
    • 12.2.9 NANOFLOWCELL 155
*Details on Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
13 APPENDIX 156
  • 13.1 INSIGHTS OF INDUSTRY EXPERTS 156
  • 13.2 DISCUSSION GUIDE 157
  • 13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 160
  • 13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 162
  • 13.5 AVAILABLE CUSTOMIZATIONS 164
  • 13.6 RELATED REPORTS 164
  • 13.7 AUTHOR DETAILS 165

LIST OF TABLES

TABLE 1 FLOW BATTERY MARKET, BY TYPE, 2015–2023 (USD MILLION) 54
TABLE 2 REDOX FLOW BATTERY MARKET, BY MATERIAL, 2015–2023 (USD MILLION) 55
TABLE 3 HYBRID FLOW BATTERY MARKET, BY MATERIAL, 2015–2023 (USD MILLION) 56
TABLE 4 FLOW BATTERY MARKET, BY MATERIAL, 2015–2023 (USD MILLION) 59
TABLE 5 FLOW BATTERY MARKET, BY STORAGE, 2015–2023 (USD MILLION) 64
TABLE 6 COMPACT FLOW BATTERY MARKET, BY APPLICATION, 2015–2023 (USD MILLION) 65
TABLE 7 LARGER-SCALE FLOW BATTERY MARKET, BY APPLICATION,
2015–2023 (USD MILLION) 66
TABLE 8 FLOW BATTERY MARKET, BY APPLICATION, 2015–2023 (USD MILLION) 69
TABLE 9 FLOW BATTERY MARKET, BY UTILITIES APPLICATION 2015–2023 (USD MILLION) 70
TABLE 10 FLOW BATTERY MARKET FOR UTILITIES APPLICATION, BY STORAGE,
2015–2023 (USD MILLION) 71
TABLE 11 FLOW BATTERY MARKET FOR UTILITIES APPLICATION, BY REGION,
2015–2023 (USD MILLION) 72
TABLE 12 FLOW BATTERY MARKET FOR UTILITIES APPLICATION IN NORTH AMERICA,
BY COUNTRY, 2015–2023 (USD MILLION) 72
TABLE 13 FLOW BATTERY MARKET FOR UTILITIES APPLICATION IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 73
TABLE 14 FLOW BATTERY MARKET FOR UTILITIES APPLICATION IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 74
TABLE 15 FLOW BATTERY MARKET FOR UTILITIES APPLICATION IN ROW, BY REGION,
2015–2023 (USD THOUSAND) 74
TABLE 16 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION,
BY STORAGE, 2015–2023 (USD MILLION) 75
TABLE 17 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION,
BY REGION, 2015–2023 (USD MILLION) 76
TABLE 18 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 77
TABLE 19 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 77
TABLE 20 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 78
TABLE 21 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION IN ROW, BY REGION, 2015–2023 (USD THOUSAND) 78
TABLE 22 FLOW BATTERY MARKET FOR MILITARY APPLICATION, BY STORAGE,
2015–2023 (USD MILLION) 80
TABLE 23 FLOW BATTERY MARKET FOR MILITARY APPLICATION, BY REGION,
2015–2023 (USD THOUSAND) 80
TABLE 24 FLOW BATTERY MARKET FOR MILITARY APPLICATION IN NORTH AMERICA,
BY COUNTRY, 2015–2023 (USD THOUSAND) 81
TABLE 25 FLOW BATTERY MARKET FOR MILITARY APPLICATION IN EUROPE, BY COUNTRY, 2015–2023 (USD THOUSAND) 82
TABLE 26 FLOW BATTERY MARKET FOR MILITARY APPLICATION IN APAC, BY COUNTRY, 2015–2023 (USD THOUSAND) 82
TABLE 27 FLOW BATTERY MARKET FOR MILITARY APPLICATION IN ROW, BY REGION,
2015–2023 (USD THOUSAND) 83
TABLE 28 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION, BY STORAGE, 2015–2023 (USD MILLION) 83
TABLE 29 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION, BY REGION, 2015–2023 (USD MILLION) 84
TABLE 30 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD THOUSAND) 85
TABLE 31 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION IN EUROPE,
BY COUNTRY, 2015–2023 (USD MILLION) 85
TABLE 32 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION IN APAC,
BY COUNTRY, 2015–2023 (USD THOUSAND) 86
TABLE 33 FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION IN ROW,
BY REGION, 2015–2023 (USD THOUSAND) 86
TABLE 34 FLOW BATTERY MARKET FOR OTHER APPLICATIONS, BY STORAGE,
2015–2023 (USD MILLION) 88
TABLE 35 FLOW BATTERY MARKET FOR OTHER APPLICATIONS, BY REGION,
2015–2023 (USD THOUSAND) 88
TABLE 36 FLOW BATTERY MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA,
BY COUNTRY, 2015–2023 (USD THOUSAND) 89
TABLE 37 FLOW BATTERY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2015–2023 (USD THOUSAND) 89
TABLE 38 FLOW BATTERY MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY,
2015–2023 (USD THOUSAND) 90
TABLE 39 FLOW BATTERY MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION,
2015–2023 (USD THOUSAND) 91
TABLE 40 FLOW BATTERY MARKET, BY REGION, 2015–2023 (USD MILLION) 94
TABLE 41 FLOW BATTERY MARKET IN NORTH AMERICA, BY COUNTRY,
2015–2023 (USD MILLION) 97
TABLE 42 FLOW BATTERY MARKET IN NORTH AMERICA, BY APPLICATION,
2015–2023 (USD MILLION) 98
TABLE 43 FLOW BATTERY MARKET IN THE US, BY APPLICATION, 2015–2023 (USD MILLION) 99
TABLE 44 FLOW BATTERY MARKET IN CANADA, BY APPLICATION,
2015–2023 (USD THOUSAND) 100
TABLE 45 FLOW BATTERY MARKET IN MEXICO, BY APPLICATION,
2015–2023 (USD THOUSAND) 101
TABLE 46 FLOW BATTERY MARKET IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 103
TABLE 47 FLOW BATTERY MARKET IN EUROPE, BY APPLICATION, 2015–2023 (USD MILLION) 104
TABLE 48 FLOW BATTERY MARKET IN GERMANY, BY APPLICATION,
2015–2023 (USD MILLION) 105
TABLE 49 FLOW BATTERY MARKET IN THE UK, BY APPLICATION,
2015–2023 (USD THOUSAND) 106
TABLE 50 FLOW BATTERY MARKET IN FRANCE, BY APPLICATION,
2015–2023 (USD THOUSAND) 107
TABLE 51 FLOW BATTERY MARKET IN REST OF EUROPE, BY APPLICATION,
2015–2023 (USD THOUSAND) 108
TABLE 52 FLOW BATTERY MARKET IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 110
TABLE 53 FLOW BATTERY MARKET IN APAC, BY APPLICATION, 2015–2023 (USD MILLION) 111
TABLE 54 FLOW BATTERY MARKET IN CHINA, BY APPLICATION, 2015–2023 (USD MILLION) 112
TABLE 55 FLOW BATTERY MARKET IN JAPAN, BY APPLICATION, 2015–2023 (USD MILLION) 113
TABLE 56 FLOW BATTERY MARKET IN INDIA, BY APPLICATION, 2015–2023 (USD THOUSAND) 114
TABLE 57 FLOW BATTERY MARKET IN AUSTRALIA, BY APPLICATION,
2015–2023 (USD THOUSAND) 115
TABLE 58 FLOW BATTERY MARKET IN REST OF APAC, BY APPLICATION,
2015–2023 (USD THOUSAND) 116
TABLE 59 FLOW BATTERY MARKET IN ROW, BY REGION, 2015–2023 (USD MILLION) 117
TABLE 60 FLOW BATTERY MARKET IN ROW, BY APPLICATION, 2015–2023 (USD THOUSAND) 118
TABLE 61 FLOW BATTERY MARKET IN THE MIDDLE EAST, BY APPLICATION,
2015–2023 (USD THOUSAND) 118
TABLE 62 FLOW BATTERY MARKET IN SOUTH AMERICA, BY APPLICATION,
2015–2023 (USD THOUSAND) 120
TABLE 63 FLOW BATTERY MARKET IN REST OF APAC, BY APPLICATION,
2015–2023 (USD THOUSAND) 120
TABLE 64 FLOW BATTERY MARKET: RANKING ANALYSIS (2017) 123


LIST OF FIGURES

FIGURE 1 RESEARCH DESIGN 17
FIGURE 2 BOTTOM-UP APPROACH 23
FIGURE 3 TOP-DOWN APPROACH 24
FIGURE 4 DATA TRIANGULATION 25
FIGURE 5 SNAPSHOT OF FLOW BATTERY MARKET: REDOX FLOW BATTERY EXPECTED TO HOLD THE LARGEST MARKET SIZE IN 2018 27
FIGURE 6 FLOW BATTERY MARKET FOR ZINC–BROMINE EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2018 AND 2023 28
FIGURE 7 LARGE-SCALE FLOW BATTERY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET DURING THE FORECAST PERIOD 29
FIGURE 8 FLOW BATTERY MARKET FOR UTILITIES APPLICATION EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 30
FIGURE 9 NORTH AMERICA HELD THE LARGEST SHARE OF THE FLOW BATTERY
MARKET IN 2018 31
FIGURE 10 INCREASING INVESTMENT IN RENEWABLE ENERGY TO ATTRACT GROWTH OPPORTUNITIES IN THE FLOW BATTERY MARKET 33
FIGURE 11 FLOW BATTERY MARKET FOR ZINC-BROMINE MATERIAL EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 34
FIGURE 12 NORTH AMERICA EXPECTED TO HOLD THE LARGEST SHARE OF THE FLOW BATTERY MARKET IN 2023 34
FIGURE 13 HYBRID FLOW BATTERY MARKET EXPECTED TO GROW AT A HIGHER RATE DURING THE FORECAST PERIOD (2018–2023) 35
FIGURE 14 US EXPECTED TO HOLD THE LARGEST SHARE OF THE FLOW BATTERY
MARKET IN 2018 35
FIGURE 15 INHERENT ADVANTAGES DRIVE THE GROWTH OF THE FLOW BATTERY MARKET 36
FIGURE 16 GLOBAL INVESTMENT IN RENEWABLE ENERGY SOURCES,
2004–2016 (USD BILLION) 38
FIGURE 17 NUMBER OF GRID-SCALE BATTERY PROJECTS IN THE US, 2015 41
FIGURE 18 FLOW BATTERY MARKET: A MAJOR VALUE ADDED BY MANUFACTURERS AND COMPONENT PROVIDERS 43
FIGURE 19 FLOW BATTERY MARKET, BY TYPE 53
FIGURE 20 HYBRID FLOW BATTERY MARKET EXPECTED TO GROW AT A HIGHER CAGR BETWEEN 2018 AND 2023 53
FIGURE 21 VANADIUM EXPECTED TO DOMINATE THE REDOX FLOW BATTERY MARKET BETWEEN 2018 AND 2023 55
FIGURE 22 FLOW BATTERY MARKET, BY MATERIAL 58
FIGURE 23 FLOW BATTERY MARKET FOR ZINC–BROMINE EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2018 AND 2023 59
FIGURE 24 FLOW BATTERY MARKET, BY STORAGE 63
FIGURE 25 LARGE-SCALE FLOW BATTERY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET BETWEEN 2018 AND 2023 63
FIGURE 26 COMMERCIAL AND INDUSTRIAL APPLICATION EXPECTED TO HOLD THE LARGEST SIZE OF THE COMPACT FLOW BATTERY MARKET BETWEEN 2018 AND 2023 65
FIGURE 27 FLOW BATTERY MARKET, BY APPLICATION 68
FIGURE 28 UTILITIES APPLICATION EXPECTED TO DOMINATE THE FLOW BATTERY MARKET BETWEEN 2018 AND 2023 69
FIGURE 29 LARGE-SCALE FLOW BATTERY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET FOR UTILITIES APPLICATION DURING THE FORECAST PERIOD 71
FIGURE 30 FLOW BATTERY MARKET IN INDIA EXPECTED TO GROW AT THE HIGHEST RATE BETWEEN 2018 AND 2023 73
FIGURE 31 NORTH AMERICA TO DOMINATE THE FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION DURING THE FORECAST PERIOD 76
FIGURE 32 LARGE-SCALE FLOW BATTERY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET FOR MILITARY APPLICATION DURING THE FORECAST PERIOD 79
FIGURE 33 GERMANY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET BETWEEN 2019 AND 2023 81
FIGURE 34 US TO DOMINATE THE FLOW BATTERY MARKET FOR EV CHARGING STATION APPLICATION DURING THE FORECAST PERIOD 84
FIGURE 35 LARGE-SCALE FLOW BATTERY EXPECTED TO DOMINATE THE FLOW BATTERY MARKET FOR OTHER APPLICATIONS DURING THE FORECAST PERIOD 87
FIGURE 36 AUSTRALIA EXPECTED TO HOLD THE LARGEST MARKET SIZE FOR OTHER APPLICATIONS DURING THE FORECAST PERIOD 90
FIGURE 37 GEOGRAPHIC SNAPSHOT: CHINESE AND INDIAN MARKETS EXPECTED TO GROW AT A SIGNIFICANT CAGR DURING THE FORECAST PERIOD 93
FIGURE 38 NORTH AMERICA HELD THE LARGEST SHARE OF THE FLOW BATTERY
MARKET IN 2017 95
FIGURE 39 MARKET SNAPSHOT: NORTH AMERICA 96
FIGURE 40 FLOW BATTERY MARKET IN CANADA EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2018 AND 2023 97
FIGURE 41 UTILITY APPLICATION EXPECTED TO DOMINATE THE FLOW BATTERY MARKET IN CANADA BETWEEN 2019 AND 2023 100
FIGURE 42 MARKET SNAPSHOT: EUROPE 102
FIGURE 43 FLOW BATTERY MARKET IN FRANCE EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2018 AND 2023 103
FIGURE 44 UTILITIES APPLICATION EXPECTED TO DOMINATE THE FLOW BATTERY MARKET IN THE UK BETWEEN 2019 AND 2023 106
FIGURE 45 MARKET SNAPSHOT: APAC 109
FIGURE 46 FLOW BATTERY MARKET IN INDIA EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2018 AND 2023 110
FIGURE 47 UTILITIES APPLICATION EXPECTED TO HOLD THE LARGEST SIZE OF FLOW BATTERY MARKET IN JAPAN BETWEEN 2019 AND 2023 113
FIGURE 48 AFRICA EXPECTED TO DOMINATE FLOW BATTERY MARKET IN ROW BETWEEN 2019 AND 2023 117
FIGURE 49 FLOW BATTERY MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2019 AND 2023 119
FIGURE 50 COMPANIES ADOPTED CONTRACTS AND COLLABORATIONS AS KEY GROWTH STRATEGIES BETWEEN 2015 AND DECEMBER 2017 122
FIGURE 51 MARKET EVALUATION FRAMEWORK 124
FIGURE 52 REDT ENERGY: COMPANY SNAPSHOT 130
FIGURE 53 SUMITOMO ELECTRIC: COMPANY SNAPSHOT 133
FIGURE 54 ENSYNC ENERGY SYSTEMS: COMPANY SNAPSHOT 140
FIGURE 55 REDFLOW: COMPANY SNAPSHOT 145

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