Report cover image

North America Flow Battery Market Size, Share & Industry Trends Analysis Report By Type (Redox and Hybrid), By Material (Vanadium, Zinc Bromine), By Storage (Large Scale and Small Scale), By Application, By Country and Growth Forecast, 2023 - 2030

Publisher Knowledge Based Value (KBV) Research
Published Aug 31, 2023
Length 136 Pages
SKU # KBV18251852

Description

North America Flow Battery Market Size, Share & Industry Trends Analysis Report By Type (Redox and Hybrid), By Material (Vanadium, Zinc Bromine), By Storage (Large Scale and Small Scale), By Application, By Country and Growth Forecast, 2023 - 2030


The North America Flow Battery Market would witness market growth of 19.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 22,173.0 Units, showcasing a growth of 16.3% (2019-2022).

As flow batteries can replenish used electrolytes in storage tanks, their functioning is more flexible. Other benefits provided by flow batteries include their long operational life and low maintenance requirements. The market for flow batteries has grown rapidly due to the rising use of renewable energy sources like solar and wind, increasing demand for batteries. This trend is anticipated to continue globally because of numerous industrialized and developing countries establishing green energy targets. The utility industry is where flow batteries are mostly used for energy storage.

Hybrid and redox flow batteries compose most of the market. Due to its greater capacity retention even after numerous cycles and a faster payback period, redox flow batteries are the most used battery type. Depending on its application, the market can be divided into power, automotive, residential, industrial, energy storage, and others. The power sector now accounts for a higher share of the market due to rising electricity demand and increased solar and wind power use. Due to the demand for constant power and the development of new utility networks, adoption in the power sector will continue to increase.

North America has one of the most developed automotive industries. The North American Free Trade Agreement (NAFTA) has helped the region’s automobile industry grow. Passenger cars with cutting-edge comfort and safety technologies have been valued by the US automotive industry. The US is one of the world’s largest marketplaces for autos. According to the International Trade Administration (ITA), 14.5 million light commercial vehicles (LCVs) were bought nationwide in 2020.This, in turn, will drive the demand for more backup power batteries due to which the demand for market will rise.

The US market dominated the North America Flow Battery Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $220,789.5 Thousands by 2030. The Canada market is showcasing a CAGR of 22.1% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 21.1% during (2023 - 2030).

Based on Type, the market is segmented into Redox and Hybrid. Based on Material, the market is segmented into Vanadium, Zinc Bromine, and Others. Based on Storage, the market is segmented into Large Scale and Small Scale. Based on Application, the market is segmented into Utilities, Commercial & Industrial, EV Charging Stations and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include VRB Energy, Inc. (Ivanhoe Electric Inc.), Invinity Energy Systems plc, Redflow Limited, ViZn Energy, Inc., Gebr. SCHMID GmbH, Elestor BV, Largo Inc., Stryten Energy LLC (Atlas Holdings LLC), Sumitomo Electric Industries, Ltd., Lockheed Martin Corporation

Scope of the Study

Market Segments covered in the Report:

By Type
  • Redox
  • Hybrid
By Material
  • Vanadium
  • Zinc Bromine
  • Others
By Storage (Volume, Units, USD Thousands, 2019-2030)
  • Large Scale
  • Small Scale
By Application (Volume, Units, USD Thousands, 2019-2030)
  • Utilities
  • Commercial & Industrial
  • EV Charging Stations
  • Others
By Country (Volume, Units, USD Thousands, 2019-2030)
  • US
  • Canada
  • Mexico
  • Rest of North America
Companies Profiled
  • VRB Energy, Inc. (Ivanhoe Electric Inc.),
  • Invinity Energy Systems plc
  • Redflow Limited
  • ViZn Energy, Inc.
  • Gebr. SCHMID GmbH
  • Elestor BV
  • Largo Inc.
  • Stryten Energy LLC (Atlas Holdings LLC)
  • Sumitomo Electric Industries, Ltd.
  • Lockheed Martin Corporation
Unique Offerings from KBV Research
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

136 Pages
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Flow Battery Market, by Type
1.4.2 North America Flow Battery Market, by Material
1.4.3 North America Flow Battery Market, by Storage
1.4.4 North America Flow Battery Market, by Application
1.4.5 North America Flow Battery Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Strategies Deployed in Flow Battery Market
Chapter 5. North America Flow Battery Market by Type
5.1 North America Redox Market by Country
5.2 North America Hybrid Market by Country
Chapter 6. North America Flow Battery Market by Material
6.1 North America Vanadium Market by Country
6.2 North America Zinc Bromine Market by Country
6.3 North America Others Market by Country
Chapter 7. North America Flow Battery Market by Storage
7.1 North America Large Scale Market by Country
7.2 North America Small Scale Market by Country
Chapter 8. North America Flow Battery Market by Application
8.1 North America Utilities Market by Country
8.2 North America Commercial & Industrial Market by Country
8.3 North America EV Charging Stations Market by Country
8.4 North America Others Market by Country
Chapter 9. North America Flow Battery Market by Country
9.1 US Flow Battery Market
9.1.1 US Flow Battery Market by Type
9.1.2 US Flow Battery Market by Material
9.1.3 US Flow Battery Market by Storage
9.1.4 US Flow Battery Market by Application
9.2 Canada Flow Battery Market
9.2.1 Canada Flow Battery Market by Type
9.2.2 Canada Flow Battery Market by Material
9.2.3 Canada Flow Battery Market by Storage
9.2.4 Canada Flow Battery Market by Application
9.3 Mexico Flow Battery Market
9.3.1 Mexico Flow Battery Market by Type
9.3.2 Mexico Flow Battery Market by Material
9.3.3 Mexico Flow Battery Market by Storage
9.3.4 Mexico Flow Battery Market by Application
9.4 Rest of North America Flow Battery Market
9.4.1 Rest of North America Flow Battery Market by Type
9.4.2 Rest of North America Flow Battery Market by Material
9.4.3 Rest of North America Flow Battery Market by Storage
9.4.4 Rest of North America Flow Battery Market by Application
Chapter 10. Company Profiles
10.1 VRB Energy, Inc. (Ivanhoe Electric Inc.)
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 SWOT Analysis
10.2 Invinity Energy Systems plc
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 Redflow Limited
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Recent strategies and developments:
10.3.3.1 Partnerships, Collaborations, and Agreements:
10.3.3.2 Trials and Approvals:
10.3.4 SWOT Analysis
10.4 ViZn Energy, Inc.
10.4.1 Company Overview
10.4.2 SWOT Analysis
10.5 Gebr. SCHMID GmbH
10.5.1 Company Overview
10.5.2 Recent strategies and developments:
10.5.2.1 Partnerships, Joint Ventures, Collaborations, and Agreements:
10.5.3 SWOT Analysis
10.6 Elestor BV
10.6.1 Company Overview
10.6.2 SWOT Analysis
10.7 Largo Inc.
10.7.1 Company Overview
10.7.2 Recent strategies and developments:
10.7.2.1 Partnerships, Collaborations, and Agreements:
10.7.2.2 Acquisition and Mergers:
10.8 Stryten Energy LLC (Atlas Holdings LLC)
10.8.1 Company Overview
10.8.2 Recent strategies and developments:
10.8.2.1 Partnerships, Collaborations, and Agreements:
10.8.2.2 Acquisition and Mergers:
10.8.3 SWOT Analysis
10.9 Sumitomo Electric Industries, Ltd.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Research & Development Expenses
10.9.5 SWOT Analysis
10.10. Lockheed Martin Corporation
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expense
10.10.5 SWOT Analysis

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us