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電池

市場調查報告書

商品編碼

1616869

液流電池市場:電池類型，材料，貯存，用途，各地區，2024年～2031年

Flow Battery Market By Battery Type (Redox, Hybrid), Material (Vanadium, Zinc Bromine, All Iron), Storage (Small-scale, Large-scale), Application (Utilities, Commercial & Industrial), & Region for 2024-2031

出版日期: 2024年11月24日 | 出版商:

Verified Market Research | 英文 202 Pages | 商品交期: 2-3個工作天內

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簡介目錄

液流電池市場評估，2024-2031

微電網的擴張，特別是在偏遠地區和新興國家，正在為液流電池應用創造新的機會。因此，隨著微電網市場的快速成長，2024年市場規模將超過22.4億美元，2031年估值將達到96.4億美元。

液流電池在長期儲能應用中表現出色，對於電網彈性和再生能源整合變得越來越重要。因此，由於人們越來越關注長期儲能，2024年至2031年市場將以22.10%的複合年增長率成長。

液流電池市場定義/概述

液流電池是一種可充電電化學儲能裝置，將能量儲存在由薄膜隔開的兩種獨立的化學溶液中。該電池的能量容量可以透過增加電解液罐的尺寸來擴展，使其成為大規模儲能的理想選擇。這些電池特別適合電網規模的應用，其中可以儲存風能和太陽能等再生能源產生的剩餘能量，並在高需求時期或低產量時期使用。

液流電池解決了再生能源的間歇性問題，並透過在需求較低時儲存多餘的能量並在需要時釋放它來提高電網的穩定性和可靠性。此外，透過錯峰充電、高峰放電，可以抑制電力需求高峰，進而降低消費者和電力公司的電費。

再生能源的日益普及將如何促進液流電池市場的成長？

越來越多地使用太陽能和風能等再生能源，需要高效的儲能解決方案來應對間歇性和可變性。液流電池提供了一種在產量低或需求高時儲存多餘再生能源的可靠方法。根據國際能源總署（IEA）預測，2023年再生能源裝置容量預計較2022年增加107GW（33%），總量達440GW。由於再生能源的併網，電網變得更加複雜，對實現電網穩定性和能源安全的技術的需求也隨之增加。美國能源部的儲能大挑戰旨在2030年開發並國產化能夠滿足美國市場所有需求的儲能技術，預計每年市場規模將達350億美元。

持續的研發努力正在降低液流電池技術的成本並提高其在儲能市場的競爭力。根據國家再生能源實驗室 (NREL) 的報告，預計 2018 年至 2050 年間，全釩氧化還原液流電池的成本將下降 66%，從 555 美元/kWh 降至 190 美元/kWh。政府的支持政策和激勵措施正在推動儲能技術（包括液流電池）的採用。美國 2022 年通膨削減法案包括針對 2025 年之前開始建設的項目提供獨立的 30% 儲能投資稅收抵免 (ITC)，該政策適用於液流電池。美國能源部所訂定的目標是到2030年將長期儲能成本降低90%，持續時間超過10小時的系統平準化成本為0.05美元/kWh，液流電池等技術可大幅提升採用。

低能量密度和高初始資本成本將如何阻礙液流電池市場的成長？

液流電池通常比一些競爭技術（例如鋰離子電池）具有較低的能量密度，並且可能需要更大的佔地面積來實現同等的能量儲存容量。根據美國能源部全球儲能資料庫顯示，釩氧化還原液流電池的能量密度通常為20-40Wh/L，而鋰離子電池的能量密度為200-400Wh/L。液流電池通常比其他儲能技術具有更高的初始成本，這可能成為採用的障礙。根據美國國家再生能源實驗室（NREL）的報告，2020年，續航四小時的釩氧化還原液流電池系統的安裝成本約為460美元/kWh，相較之下，鋰電池系統的安裝成本約為460美元/kWh。

液流電池具有複雜的系統，例如泵浦、水箱和薄膜，這會增加維護要求和操作挑戰。根據《能源儲存期刊》發表的一項研究，液流電池系統的年度維護成本為初始資本成本的 1.5% 至 2.5%，而鋰離子電池系統的年度維護成本為 0.5% 至 1%。與鋰離子電池等成熟技術相比，液流電池的商業歷史還很短，這可能會讓投資者和公用事業公司對採用它們猶豫不決。根據美國能源部全球儲能資料庫，截至2021年，全球約有70個液流電池專案在運營，而鋰離子電池專案則超過700個。

The expansion of microgrids, particularly in remote areas and developing countries, is creating new opportunities for flow battery applications. Thus, with the increasing microgrid market surge the growth of market size surpassing USD 2.24 Billion in 2024 to reach the valuation of USD 9.64 Billion by 2031.

Flow batteries excel in long-duration energy storage applications, which are becoming increasingly important for grid resilience and renewable energy integration. Thus, the increasing focus on long-duration energy storage enables the market to grow at a CAGR of 22.10% from 2024 to 2031.

Flow Battery Market: Definition/ Overview

A flow battery is a rechargeable electrochemical energy storage device that stores energy in two separate chemical solutions, divided by a membrane. The battery's energy capacity is scalable by increasing the size of the electrolyte tanks, making it ideal for large-scale energy storage. These batteries are particularly well-suited for grid-scale applications, where they can store surplus energy generated from renewable sources like wind and solar for use during periods of high demand or low generation.

Flow batteries address the intermittent nature of renewable energy by storing excess energy when demand is low and releasing it when needed, thereby enhancing grid stability and reliability. They also help reduce peak electricity demand by charging during off-peak hours and discharging during peak periods, resulting in lower electricity costs for both consumers and utilities.

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How the Growing Adoption of Renewable Energy Sources Surge the Growth of Flow Battery Market?

The increasing use of renewable energy sources like solar and wind power necessitates efficient energy storage solutions to address intermittency and variability. Flow batteries offer a reliable method for storing excess renewable energy during low-generation or high-demand periods. According to the International Energy Agency (IEA), renewable energy capacity additions are on track to increase by 107 GW (33%) in 2023 compared to 2022, reaching a total of 440 GW. As power grids become more complex with the integration of renewables, there's a growing need for technologies that can provide grid stability and energy security. The U.S. Department of Energy's Energy Storage Grand Challenge aims to develop and domestically manufacture energy storage technologies that can meet all U.S. market demands by 2030, with a projected market size of USD 35 Billion annually.

Ongoing research and development efforts are driving down the costs of flow battery technology, making it more competitive in the energy storage market. According to a report by the National Renewable Energy Laboratory (NREL), the cost of vanadium redox flow batteries is projected to decrease by 66% between 2018 and 2050, from $555/kWh to $190/kWh. Supportive government policies and incentives are encouraging the adoption of energy storage technologies, including flow batteries. The U.S. Inflation Reduction Act of 2022 includes a standalone energy storage Investment Tax Credit (ITC) of 30% for projects commencing construction before 2025, which applies to flow batteries. The U.S. Department of Energy has set a goal to reduce the cost of long-duration energy storage by 90% to $0.05/kWh levelized cost for 10+ hour systems by 2030, which could significantly boost the adoption of technologies like flow batteries.

How do the Lower Energy Density and Higher Initial Capital Costs Impede the Growth of the Flow Battery Market?

The flow batteries typically have lower energy density compared to some competing technologies like lithium-ion batteries, which may require larger footprints for equivalent energy storage capacity. According to the U.S. Department of Energy's Global Energy Storage Database, the energy density of vanadium redox flow batteries typically ranges from 20-40 Wh/L, while lithium-ion batteries can achieve 200-400 Wh/L. Flow batteries often have higher upfront costs compared to other energy storage technologies, which can be a barrier to adoption. A report by the National Renewable Energy Laboratory (NREL) estimated that in 2020, the installed cost for a 4-hour duration vanadium redox flow battery system was approximately $460/kWh, compared to $380/kWh for a lithium-ion system of similar duration.

Flow batteries have more complex systems with pumps, tanks, and membranes, potentially leading to higher maintenance needs and operational challenges. A study published in the Journal of Energy Storage found that the annual maintenance costs for flow battery systems can range from 1.5% to 2.5% of the initial capital cost, compared to 0.5% to 1% for lithium-ion battery systems. Compared to more established technologies like lithium-ion batteries, flow batteries have a shorter commercial history, which can make investors and utilities hesitant to adopt them. According to the U.S. Department of Energy's Global Energy Storage Database, as of 2021, there were approximately 70 operational flow battery projects worldwide, compared to over 700 lithium-ion battery projects.

Category-Wise Acumens

How the High Energy Efficiency and Long-Life Cycle Foster the Growth of Vanadium Segment?

The vanadium segment, dominates in the flow battery market owing to their high energy efficiency, long cycle life, and scalability, making them a preferred choice for grid-scale energy storage applications. One of the key advantages of VRFBs is the use of vanadium electrolytes, which allow for reliable charging and discharging over numerous cycles without significant degradation. This durability is made possible by vanadium's electrochemical properties, which enable the easy transfer of electrons in and out of the element.

In a VRFB, vanadium redox couples V2+/V3+ in the negative half-cell and V4+/V5+ in the positive half-cell are utilized to store energy. This design allows the battery to maintain stable performance over time. A unique advantage of vanadium flow batteries is that their power and energy ratings are independent, meaning they can be optimized separately for specific applications. This flexibility makes VRFBs particularly suited for large-scale energy storage solutions, where both energy capacity and power output can be tailored according to the needs of the grid.

How the Scalability and Long-Life Cycle Surge the Growth of Redox Segment?

The redox segment, particularly vanadium redox flow batteries (VRFBs), holds a dominant position in the flow battery market owing to their exceptional scalability, long cycle life, and reliable performance in grid-scale energy storage applications. VRFBs are especially valued for their ability to maintain capacity over thousands of charge and discharge cycles, making them an ideal solution for large-scale, long-term energy storage needs. Their unique ability to decouple power and energy capacity allows for flexible system design, where power output and storage capacity can be independently scaled to suit specific applications.

VRFBs durability, leads to a shorter payback period, enhancing their cost-effectiveness for utilities and other large-scale energy storage operators. Unlike other battery types, VRFBs experience minimal degradation over time, providing consistent performance throughout their lifespan. This makes them a preferred choice for renewable energy integration, where they can store excess energy from sources like wind and solar for later use, improving grid reliability.

Country/Region-wise Acumens

How does the Increasing Renewable Energy Integration Surge the Growth of the Flow Battery Market in North America?

North America substantially dominates the flow battery market owing to the rapid growth of renewable energy sources in North America is driving the need for effective energy storage solutions like flow batteries to manage intermittency and ensure grid stability. According to the U.S. Energy Information Administration (EIA), renewable energy sources accounted for about 20% of electricity generation in the United States in 2021, up from about 10% in 2011. The EIA projects that renewables will provide 35% of total electricity generation by 2030.

With increasing extreme weather events and aging infrastructure, there's a rising focus on enhancing grid resilience and reliability in North America, driving demand for advanced energy storage solutions like flow batteries. The U.S. Department of Energy's Grid Deployment Office is overseeing the investment of over USD 10.5 Billion to enhance grid resilience and reliability, as part of the Bipartisan Infrastructure Law. This includes significant funding for energy storage projects.

North American governments, particularly in the United States, have implemented policies and incentives that are favorable to the energy storage market, including flow batteries. The U.S. Inflation Reduction Act of 2022 includes a standalone energy storage Investment Tax Credit (ITC) of 30% for projects commencing construction before 2025. This applies to flow batteries and is expected to drive significant market growth. The Canadian government has also committed CAD 964 million over four years to the Smart Renewable and Electrification Pathways Program, which includes support for energy storage projects.

How the Government Policies and Investments in Energy Storage Foster the Growth of the Flow Battery Market in Asia Pacific?

Asia Pacific is anticipated to witness the fastest growth in the flow battery market owing to the region's rapidly expanding renewable energy capacity, which drives the need for energy storage solutions like flow batteries. According to the International Renewable Energy Agency (IRENA), Asia accounted for 64% of new renewable energy capacity added globally in 2021. The region's total renewable energy capacity reached 1.17 TW, with China alone accounting for 931 GW. Many countries in the region are implementing supportive policies and increasing investments in energy storage to improve grid stability and power quality. The China Energy Storage Alliance (CNESA) reports that China's energy storage capacity is expected to reach 35.5 GW by 2025, with government policies targeting 30 GW of new energy storage capacity between 2021 and 2025.

In many parts of the Asia Pacific region, especially in remote and island areas, there's an increasing need for off-grid and microgrid solutions, which often incorporate flow batteries. The Asian Development Bank (ADB) estimates that about 350 million people in Asia and the Pacific still lack access to electricity. The bank has committed to supporting the development of microgrids and off-grid solutions, with plans to invest USD 2 Billion annually in energy projects, including energy storage initiatives.

Competitive Landscape

The Flow Battery Market is still in its early stages, and the competitive landscape is likely to evolve as new technologies and companies emerge. However, the established players in the market have a significant head start and are well-positioned to capitalize on the growing demand for energy storage solutions.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the flow battery market include:

VRB Energy
H2, Inc.,
ESS Tech, Inc.
Stryten Energy
Vanadis Power GmbH
CellCube Energy Storage Systems Inc
Primus Power Corporation
Dalian Rongke Power Co. Ltd
RedFlow Ltd.
Invinity Energy Systems PLC.

Latest Developments:

In June 2023, Invinity Energy Systems provided 2 MWh of energy storage to OPALCO for a solar plus storage project in San Juan County, Washington, which included nine Invinity VS3 vanadium flow batteries and a 2.75 MWp solar array.
In February 2023, Sumitomo Electric Industries, Ltd. announced its entry into the redox flow battery market in the United States, to identify possible manufacturing possibilities in North America.

1 INTRODUCTION OF GLOBAL FLOW BATTERY MARKET

1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources

4 GLOBAL FLOW BATTERY MARKET OUTLOOK

4.1 Overview
4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 GLOBAL FLOW BATTERY MARKET, BY TYPE

5.1 Introduction
5.2 Hybrid Flow Battery
5.3 Redox Flow Battery

6 GLOBAL FLOW BATTERY MARKET, BY MATERIAL

6.1 Introduction
6.2 Zinc-Bromine
6.3 Vanadium
6.4 Others

7 GLOBAL FLOW BATTERY MARKET, BY STORAGE

7.1 Introduction
7.2 Compact
7.3 Large Scale

8 GLOBAL FLOW BATTERY MARKET, BY APPLICATION

8.1 Introduction
8.2 Commercial and Industrial
8.3 EV Charging Station
8.4 Military
8.5 Utilities
8.6 Others

9 GLOBAL FLOW BATTERY MARKET, BY GEOGRAPHY

9.1 Overview
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.2.3 Mexico
9.3 Europe
- 9.3.1 Germany
- 9.3.2 U.K.
- 9.3.3 France
- 9.3.4 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 Rest of Asia Pacific
9.5 Rest of the World
- 9.5.1 Latin America
- 9.5.2 Middle East

10 GLOBAL FLOW BATTERY MARKET COMPETITIVE LANDSCAPE

10.1 Overview
10.2 Company Market Share
10.3 Vendor Landscape
10.4 Key Development Strategies

11 COMPANY PROFILES

11.1 ESS Inc
- 11.1.1 Overview
- 11.1.2 Financial Performance
- 11.1.3 Product Outlook
- 11.1.4 Key Developments
11.2 GILDEMEISTER Energy Solutions
- 11.2.1 Overview
- 11.2.2 Financial Performance
- 11.2.3 Product Outlook
- 11.2.4 Key Developments
11.3 Primus Power
- 11.3.1 Overview
- 11.3.2 Financial Performance
- 11.3.3 Product Outlook
- 11.3.4 Key Developments
11.4 RedFlow
- 11.4.1 Overview
- 11.4.2 Financial Performance
- 11.4.3 Product Outlook
- 11.4.4 Key Developments
11.5 redT Energy
- 11.5.1 Overview
- 11.5.2 Financial Performance
- 11.5.3 Product Outlook
- 11.5.4 Key Developments
11.6 SCHMID
- 11.6.1 Overview
- 11.6.2 Financial Performance
- 11.6.3 Product Outlook
- 11.6.4 Key Developments
11.7 Sumitomo Electric
- 11.7.1 Overview
- 11.7.2 Financial Performance
- 11.7.3 Product Outlook
- 11.7.4 Key Developments
11.8 UniEnergy Technologies
- 11.8.1 Overview
- 11.8.2 Financial Performance
- 11.8.3 Product Outlook
- 11.8.4 Key Developments
11.9 ViZn Energy.
- 11.9.1 Overview
- 11.9.2 Financial Performance
- 11.9.3 Product Outlook
- 11.9.4 Key Developments
11.10 EnSync Energy Systems
- 11.10.1 Overview
- 11.10.2 Financial Performance
- 11.10.3 Product Outlook
- 11.10.4 Key Developments