Global Redox Flow Battery Sales Market Report 2022

A flow battery, or redox flow battery (after reduction–oxidation), is a type of rechargeable battery where recharge ability is provided by two chemical components dissolved in liquids contained within the system and separated by a membrane. Ion exchange (providing flow of electric current) occurs through the membrane while both liquids circulate in their own respective space. Cell voltage is chemically determined by the Nernst equation and ranges, in practical applications, from 1.0 to 2.2 volts. The performance of these devices is governed by the considerations of electrochemical engineering.
Market Analysis and Insights: Global Redox Flow Battery Market
Due to the COVID-19 pandemic, the global Redox Flow Battery market size is estimated to be worth US$ 277.1 million in 2021 and is forecast to a readjusted size of US$ 277.1 million by 2028 with a CAGR of 10.9% during the review period. Fully considering the economic change by this health crisis, by Type accounting for % of the Redox Flow Battery global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by Type segment is altered to an % CAGR throughout this forecast period.
The industry's leading producers are Sumitomo Electric, Dalian Rongke Power and UniEnergy Technologies, which accounted for 21.51%, 21.19% and 11.28% of revenues respectively in 2019.
Global Redox Flow Battery Scope and Market Size
The global Redox Flow Battery market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Redox Flow Battery market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2017-2028.
Segment by Type
Vanadium Redox Flow Battery
Hybrid Flow Battery
Segment by Application
Utility Facilities
Renewable Energy Integration
By Region
United States
Southeast Asia
Other Regions
By Company
Sumitomo Electric
Dalian Rongke Power
UniEnergy Technologies
Primus Power
redTENERGY Storage

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