Global Flow Battery Market 2017-2021
About Flow Battery
Batteries refer to the devices used to store energy, which can be utilized later at times of blackouts, power shortages, or when the demand for electricity is high. Batteries are divided into lead-acid, lithium, or nickel-based. A battery plate grid enhances the life and performance of a battery. The network composition is a balance among the electrolyte's specific gravity, the active material used, and lead concentration. Batteries are used in automobiles, electronics, golf carts, and forklifts, among others. Lithium-ion (Li-ion) and lead-acid batteries are most extensively utilized in automotive and motive industries.
Technavio’s analysts forecast the global flow battery market to grow at a CAGR of 3.38% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global flow battery market for 2017-2021. To calculate the market size, the report considers the cumulative installations of telecom towers worldwide.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flow Battery Market 2017-2021
Technavio recognizes the following companies as the key players in the global flow battery market: Primus Power, redT energy, UniEnergy Technologies, VanadiumCorp Resource, and Vionx Energy
Other Prominent Vendors in the market are: Australian Vanadium, Bushveld Energy, Cellennium (Thailand), Dalian Rongke Power, eChemion, Elestor, EnerVault, EnSync, GILDEMEISTER energy solutions, H2, ITN Energy Systems, JenaBatteries, JenaBatteries, Kemwatt, nanoFlowcell, Pu Neng Energy, Redflow, SCHMID Group, Shanghai Smart Energy, Sparton Resources, Sumitomo Electric Industries, thyssenkrupp, ViZn Energy Systems, volterion, VoltStorage, WattJoule, and YOUNICOS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Declining Li-ion battery prices. The market for Li-ion batteries has been gaining impetus and is witnessing rapid growth. Owing to this, there has been a decline in the demand for lead-acid batteries. The factor that is discriminating between Li-ion batteries and lead-acid batteries is price. The cost of Li-ion batteries is more than that of lead-acid batteries. However, leading vendors in the manufacturing of Li-ion batteries are working on technological advances and are trying to reduce the price of Li-ion batteries.”
According to the report, one of the major drivers for this market is Rise of green telecom towers. Telecom tower and infrastructure operators in North America, especially those in the US, are under tremendous pressure to reduce their carbon footprint. Therefore, manufacturers of telecom power system are expanding their product portfolio with green telecom power systems. Diesel accounts for more than two-fifth of the total operating expenditure, with diesel generators being predominantly used in the telecom sector. However, their increased deployment can lead to environment pollution. Therefore, to reduce the operational costs and the related pollution from diesel generators, telecom operators are beginning to invest in alternative green power systems. For instance, in 2012, Eaton acquired Cooper Industries to integrate the expertise of smart grids with its existing product portfolio. The company also offers integrated, clean fuel cell backup power solutions and generator start-up optimization software.
Further, the report states that one of the major factors hindering the growth of this market is Lead pollution and stringent laws. Lead-acid batteries account for the majority of the overall lead production. The standard arrangement of lead-acid batteries consists of lead plates, with plastic coating on them, that are placed in sulfuric acid. The recycling of lead-acid batteries helps in reducing the number of disposable batteries as solid waste. These batteries are rechargeable, which helps consumers to reuse them. Also, the recycling process of lead-acid batteries has a high business potential. However, batteries comprise a high amount of lead oxide toxins that are harmful to the environment. As soon as these batteries stop yielding efficiency, they eventually become unusable and can only be considered as hazardous waste. The recycling of lead-acid batteries in highly populated areas, with limited pollution checks, has had a negative impact on the environment.
Primus Power, redT energy, UniEnergy Technologies, VanadiumCorp Resource, Vionx Energy, Australian Vanadium, Bushveld Energy, Cellennium (Thailand), Dalian Rongke Power, eChemion, Elestor, EnerVault, EnSync, GILDEMEISTER energy solutions, H2, ITN Energy Systems, JenaBatteries, JenaBatteries, Kemwatt, nanoFlowcell, Pu Neng Energy, Redflow, SCHMID Group, Shanghai Smart Energy, Sparton Resources, Sumitomo Electric Industries, thyssenkrupp, ViZn Energy Systems, volterion, VoltStorage, WattJoule, and YOUNICOS.