Global Flow battery Market Worth $ 248.22 million by 2022
Analyst: qinwei Company: QYResearch Date: June 14, 2017
The energy storage market is a multibillion dollar market growing at greater than 30% per year. QYR’s energy analysts expect the global market will reach $22 billion in 2022. Growth is being driven by a number of factors including the high cost of managing electric grid peaks, increased penetration of intermittent renewable wind and solar energy, and infrastructure investments for transmission and distribution reliability and smart grid initiatives. Recently, QYResearch have published a report on Flow battery market. The global Flow battery installation capacity will reach 215.36 MWh at the end of 2017, and is forested to reach 490.21 MWh in 2022 at a CAGR of 17.88% from 2012 to 2022. North America and Asia-Pacific are the two largest countries with flow batteries installation capacity in the world, both the two region take more than 80% of the world in 2016. Europe behind them, with about 15.48% market share.
There are more than ten main types of flow batteries in mass production or development stage in the market now. Vanadium Flow battery is the main types, which can occupied about 70 percent revenue market share. Currently, Sumitomo Electric, Dalian Rongke Power are the top two companies and lead in flow batteries with 29.48% and 18.27% revenue market share in 2016,respectively. Other Key players in this market include Primus Power, EnSync, Imergy, Gildemeister, redTENERGY Storage and UniEnergy Technologies among others. Nowadays, the average price of the Flow battery is 590~600 USD/KWh. Looking to the future years, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin. This article was first released by QYResearch analyst, if reproduced, please indicate the source. Media Contact: press@qyresearch.com Analyst : qinwei@qyresearch.com