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    Flow Battery Market

    ID: MRFR/E&P/5157-HCR
    111 Pages
    Snehal Singh
    September 2025

    Flow Battery Market Research Report Information By Product Type (Redox, Hybrid), By Material Type (Vanadium, Zinc-Bromine), By Storage Type (Compact, Large Scale), By Application (Industrial & Commercial, Defense, Utilities And Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2034

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    Flow Battery Market Research Report-Global Forecast till 2034 Infographic
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    Flow Battery Market Summary

    As per Market Research Future Analysis, the Flow Battery Market is projected to grow significantly, driven by the increasing demand for renewable energy integration and efficient energy storage solutions. The market size was estimated at 0.45 USD Billion in 2024 and is expected to reach 6.48 USD Billion by 2034, with a CAGR of 30.68% from 2025 to 2034. The utilities sector is a major application area, with flow batteries serving as buffers for electricity demand and renewable energy supply.

    Key Market Trends & Highlights

    The Flow Battery Market is witnessing robust growth due to several key trends.

    • Flow Battery Market Size in 2024: USD 0.45 Billion.
    • Expected Market Size in 2034: USD 6.48 Billion.
    • CAGR from 2025 to 2034: 30.68%.
    • Utilities segment anticipated to dominate market share in 2022.

    Market Size & Forecast

    2024 Market Size USD 0.45 Billion
    2025 Market Size USD 0.58 Billion
    2034 Market Size USD 6.48 Billion
    CAGR (2025-2034) 30.68%

    Major Players

    Key players include Sumitomo Electric Industries, Ltd. (Japan), ViZn Energy Systems (US), EnSync Energy Systems (US), Schmid (Germany), and Elestor (Europe).

    Flow Battery Market Trends

    Renewable energy adoption is expected to drive market growth

    Renewable energy adoption is driving the market CAGR for Flow Battery. The relevance of energy storage in the power business is quickly growing, owing mostly to increased investment in the renewable energy sector. Although lithium-ion batteries are widely used, flow batteries provide promise advantages for long-term use and in applications that require a consistent cycle throughout the day. 

    Renewable energy, such as wind and solar energy, can be made available for longer periods of time using flow batteries, thereby mitigating major intermittency difficulties. Developers are actively evaluating these technologies for their potential to provide power for longer periods of time as well as for ramping up and down with no degradation.

    Utilities are an early application area for flow batteries since they deal with renewable energy grid penetration. Flow batteries are used in utility applications to function as a buffer between electricity demand and available energy from the grid. Flow batteries are ideal for long discharge times in MW scale power increases in utilities. Furthermore, these batteries supply and transfer energy during grid outages.

    To present, the majority of flow battery installation projects globally have been designed to meet the needs of utilities. Because of the increased need for electrification in rural and urban regions, government and commercial entities have been working to improve electric grid infrastructure in recent years.

    The United States Department of Energy (DOE) proposed $13 billion in new financing opportunities for the development and upgrading of the nation's electric grid in August 2022. The Grid Resilience Innovative Partnership (GRIP) program and the Transmission Facilitation Program, both funded by the President's Bipartisan Infrastructure Law, represent the largest single direct federal investment in critical transmission and distribution infrastructure, as well as one of the first down payments on an over $20 billion investment under the Administration's Building a Better Grid Initiative.

    Such initiatives and substantial investments in grid construction by various governments to fulfill rising power demand are projected to fuel the growth of the flow battery market over the forecast period.

    The ongoing transition towards renewable energy sources is likely to catalyze advancements in flow battery technology, enhancing energy storage solutions and grid stability.

    U.S. Department of Energy

    Flow Battery Market Drivers

    Market Charts and Projections

    The Global Flow Battery Market Industry is characterized by dynamic growth projections and evolving trends. The market is expected to expand from a valuation of 0.45 USD Billion in 2024 to an impressive 8.47 USD Billion by 2035. This growth trajectory indicates a robust compound annual growth rate (CAGR) of 30.58% from 2025 to 2035. The charts illustrate the anticipated market expansion, highlighting key drivers such as technological advancements, government policies, and increasing demand for renewable energy storage. These visual representations provide a comprehensive overview of the market's potential, underscoring the importance of flow batteries in the global energy landscape.

    Government Incentives and Policies

    Government initiatives and policies significantly influence the Global Flow Battery Market Industry, as many countries implement supportive measures to promote energy storage technologies. Incentives such as tax credits, grants, and subsidies encourage the adoption of flow batteries, particularly in renewable energy projects. For example, various governments are establishing frameworks that prioritize energy storage solutions to enhance grid stability and reliability. These policies not only stimulate market growth but also foster innovation within the industry. As governments recognize the importance of energy storage in achieving climate goals, the flow battery market is likely to benefit from increased funding and support, further driving its expansion.

    Growing Applications in Electric Vehicles

    The Global Flow Battery Market Industry is witnessing a notable increase in applications within the electric vehicle sector. Flow batteries offer several advantages, including longer cycle life and faster charging capabilities, making them an attractive option for electric vehicle manufacturers. As the demand for electric vehicles continues to rise, driven by environmental concerns and regulatory pressures, flow batteries are positioned to play a significant role in this market. Their scalability and ability to provide high energy output align well with the needs of electric vehicle technology. This trend suggests a promising future for flow batteries, potentially contributing to the market's growth trajectory through 2035.

    Increasing Demand for Renewable Energy Storage

    The Global Flow Battery Market Industry experiences a surge in demand for energy storage solutions, driven by the global transition towards renewable energy sources. As countries aim to reduce carbon emissions, the need for efficient energy storage systems becomes paramount. Flow batteries, with their ability to store large amounts of energy for extended periods, are well-suited for this purpose. In 2024, the market is valued at 0.45 USD Billion, indicating a growing recognition of flow batteries as a viable option for integrating renewable energy into the grid. This trend is expected to continue, with projections suggesting a market growth to 8.47 USD Billion by 2035.

    Technological Advancements in Flow Battery Systems

    Technological innovations play a crucial role in the Global Flow Battery Market Industry, enhancing the efficiency and performance of flow battery systems. Recent advancements in materials and designs have led to improved energy density and cycle life, making flow batteries more competitive against traditional energy storage technologies. For instance, developments in vanadium redox flow batteries have demonstrated increased efficiency and lower costs. These innovations not only attract investments but also expand the application range of flow batteries in various sectors, including grid storage and electric vehicles. As technology continues to evolve, the market is poised for significant growth, with a projected CAGR of 30.58% from 2025 to 2035.

    Market Segment Insights

    Flow Battery Product Type Insights

    The Flow Battery Market segmentation, based on Product Type includes redox, hybrid. The redox segment is expected to dominate the market in 2022. Redox flow batteries are inexpensive and convenient ways of storing electrical energy on a grid scale and for a variety of applications, which contributes to this segment's substantial market share.

    Flow Battery Material Type Insights

    The Flow Battery Market segmentation, based on Material Type, includes vanadium, zinc-bromine. The zinc-bromine category is expected to have the greatest CAGR over the projection period in 2022. The benefits provided by zinc-bromine flow batteries, such as relatively high energy density, deep discharge capabilities, and superior reversibility, are credited to the segment's rise. 

    Flow Battery Storage Type Insights

    The Flow Battery Market segmentation, based on storage Type, includes compact, large scale. The flow battery market is dominated by the large scale segment. This is because large-scale flow batteries are increasingly being employed for grid-scale energy storage applications such as renewable energy integration, peak shaving, and load levelling. Furthermore, the growing demand for dependable and efficient energy storage solutions is likely to boost the expansion of the large-scale flow battery market in the coming years.

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Flow Battery Application Insights

    The Flow Battery Market segmentation, based on application, includes industrial & commercial, defense, utilities and others. The utilities segment is expected to have the greatest share over the projection period in 2022. The rising adoption of flow batteries for utility applications to address the growing requirement for electrification is contributed to the segment's rise.

    Get more detailed insights about Flow Battery Market Research Report-Global Forecast till 2034

    Regional Insights

    By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Flow Battery Market area will dominate this market, owing to the increasing usage of advanced ticketing technology, and the growing focus on improving the overall passenger experience.

    Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure 2: Flow Battery Market Share By Region 2022 (USD Billion)

    Flow Battery Market Share By Region

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Europe Flow Battery Market accounts for the second-largest market share due to growing focus on sustainable transport systems. Further, the German Flow Battery Market held the largest market share, and the UK Flow Battery Market was the fastest growing market in the European region

    The Asia-Pacific Flow Battery Market is expected to grow at the fastest CAGR from 2025 to 2034. This is due to Growing use of energy storage solutions for industrial and utility applications, as well as an increase in the number of operational projects incorporating flow battery installations, are likely to drive growth in this regional market during the forecast period.  Moreover, China’s Flow Battery Market held the largest market share, and the Indian Flow Battery Market was the fastest growing market in the Asia-Pacific region.

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Flow Battery Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Flow Batteryindustry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Flow Battery industry to benefit clients and increase the market sector. In recent years, the Flow Battery industry has offered some of the most significant advantages to medicine. Major players in the Flow Battery Market, including Sumitomo Electric Industries, Ltd. (Japan), ViZn Energy Systems. (US), EnSync Energy Systems (US), Schmid (Germany), and Elestor (Europe) and others, are attempting to increase market demand by investing in research and development operations.

    Sumitomo Electric Industries, Ltd. produces electrical wire and optical fibre cables. Its headquarters are in Osaka, Japan, in Ch-ku. The shares of the corporation are listed in the first section of the Tokyo, Nagoya, and Fukuoka Stock Exchanges. The company reported combined revenues of US$26,5 billion (2,918,580 million Japanese yen) in the fiscal year. In August 2020, Sumitomo Electric Industries announced the development of a new vanadium redox flow battery with a novel electrolyte solution that is intended to considerably increase the battery's performance and durability.

    ESS Technology Incorporated is a private manufacturer of computer multimedia devices, audio DACs, and ADCs based in Fremont, California, with research and development centres in Kelowna, BC, Canada, and Beijing, China. Forrest Mozer started it in 1983. The company's CEO and President is Robert L. Blair. In June 2021, ESS Inc. announced the receipt of $20 million in investment to assist the development and commercialization of their iron flow battery technology, which is intended to enable long-duration energy storage for utility-scale applications.

    Key Companies in the Flow Battery Market market include

    Industry Developments

    • Q2 2024: Sumitomo Electric launches world's largest vanadium flow battery in China Sumitomo Electric Industries announced the commissioning of a 100MW/400MWh vanadium redox flow battery system in Dalian, China, marking the world's largest operational flow battery installation for grid-scale energy storage.
    • Q2 2024: Invinity Energy Systems secures $20M contract for flow battery deployment in California Invinity Energy Systems signed a $20 million contract to supply vanadium flow batteries for a major renewable energy project in California, supporting long-duration energy storage for solar and wind integration.
    • Q3 2024: VFlow Tech raises $15M Series B to expand flow battery manufacturing in Singapore Singapore-based VFlow Tech completed a $15 million Series B funding round to scale up its flow battery production capacity and accelerate commercialization in Southeast Asia.
    • Q3 2024: Redflow wins contract to supply flow batteries for Australian government microgrid project Redflow Ltd. announced it will provide zinc-bromine flow batteries for a government-backed microgrid initiative in Queensland, Australia, aimed at improving energy resilience in remote communities.
    • Q4 2024: Lockheed Martin partners with Nel ASA for flow battery pilot in Norway Lockheed Martin and Nel ASA entered a strategic partnership to deploy a pilot flow battery system in Norway, targeting renewable energy storage and grid balancing applications.
    • Q4 2024: Invinity Energy Systems opens new flow battery manufacturing facility in Scotland Invinity Energy Systems inaugurated a new manufacturing plant in Scotland dedicated to producing vanadium flow batteries for European energy storage markets.
    • Q1 2025: Elestor BV secures €12M grant from Dutch government for flow battery R&D Elestor BV received a €12 million grant from the Netherlands government to advance research and development of hydrogen-bromine flow battery technology for grid-scale storage.
    • Q1 2025: Primus Power announces executive appointment to lead global expansion Primus Power appointed a new Chief Commercial Officer to spearhead its international growth strategy for flow battery deployments in emerging markets.
    • Q1 2025: Sumitomo Electric signs MoU with Indian utility for flow battery pilot project Sumitomo Electric Industries signed a Memorandum of Understanding with a major Indian utility to launch a pilot vanadium flow battery project supporting renewable energy integration.
    • Q2 2025: VoltStorage GmbH announces new iron-salt flow battery product launch VoltStorage GmbH unveiled its latest iron-salt flow battery product, targeting commercial and industrial energy storage applications with improved cost efficiency and sustainability.
    • Q2 2025: Redflow opens new assembly facility in South Africa for zinc-bromine flow batteries Redflow Ltd. launched a new assembly plant in South Africa to meet growing demand for zinc-bromine flow batteries in the African energy storage market.
    • Q2 2025: StorEn Technologies secures $10M Series A funding for US flow battery commercialization StorEn Technologies completed a $10 million Series A funding round to accelerate commercialization of its vanadium flow battery systems in the United States.

    Future Outlook

    Flow Battery Market Future Outlook

    The Global Flow Battery Market is poised for robust growth, driven by renewable energy integration and energy storage demands, achieving a 30.58% CAGR from 2024 to 2035.

    New opportunities lie in:

    • Develop advanced electrolyte formulations to enhance energy density and efficiency.
    • Invest in scalable manufacturing processes to reduce production costs.
    • Forge strategic partnerships with renewable energy firms to expand market reach.

    By 2035, the Flow Battery Market is expected to be a pivotal component of global energy storage solutions.

    Market Segmentation

    Flow Battery Regional Outlook

    • US
    • Canada

    Flow Battery Market By Application Outlook

    • Industrial & Commercial
    • Defense
    • Utilities
    • Others

    Flow Battery Market By Product Type Outlook

    • Redox
    • Hybrid

    Flow Battery Market By Storage Type Outlook

    • Compact
    • Large Scale

    Flow Battery Market By Material Type Outlook

    • Vanadium
    • Zinc-Bromine

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024    0.45 (USD Billion)
    Market Size 2025    0.58 (USD Billion)
    Market Size 2034     6.48 (USD Billion)
    Compound Annual Growth Rate (CAGR)     30.68% (2025 - 2034)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2034
    Historical Data 2019 - 2023
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Product Type, Material Type, Storage Type, Application and Region
    Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
    Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled ESS Inc. (US), Gildemeister energy solutions (Austria), Redflow Limited. (Australia), Primus Power (US), redT energy plc. (UK), Sumitomo Electric Industries, Ltd. (Japan), ViZn Energy Systems. (US), EnSync Energy Systems (US), Schmid (Germany), and Elestor (Europe).
    Key Market Opportunities The growing popularity of contactless payment technologies.
    Key Market Dynamics Smart transportation systems are becoming more popular.

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    How much is the Flow Battery Market?

    The global Flow Battery Market size was valued at USD 0.45 Billion in 2024.

    What is the growth rate of the Flow Battery Market?

    The global market is projected to grow at a CAGR of 30.68% during the forecast period, 2025-2034.

    Which region held the largest market share in the Flow Battery Market?

    North America had the largest share in the global market

    Who are the key players in the Flow Battery Market?

    The key players in the market are Sumitomo Electric Industries, Ltd. (Japan), ViZn Energy Systems. (US), EnSync Energy Systems (US), Schmid (Germany), and Elestor (Europe).

    Which Product Type led the Flow Battery Market?

    The redox category dominated the market in 2022.

    Which application had the largest market share in the Flow Battery Market?

    The utilities had the largest share in the global market.

    Flow Battery Market Research Report-Global Forecast till 2034 Infographic
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