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Flow Battery Market Worth 946.3 Million USD by 2023PUNE, India, January 22, 2018 /PRNewswire/ -- According to the new market research report "Flow Battery Market by Type (Redox, and Hybrid), Material (Vanadium, Zinc-Bromine), Storage (Compact and Large scale), Application (Utilities, Commercial & Industrial, Military, EV Charging Station), and Geography - Global Forecast to 2023", published by MarketsandMarkets[TM], the market is expected to grow from USD 230.2 Million in 2018 and reach a value of USD 946.3 Million by 2023, at a CAGR of 32.7% during the forecast period. The growth of this market can be attributed to the increasing investment in renewable energy. In the recent past, developed and developing countries have been revising their energy policies to embrace a considerable portion of energy generation sourced from renewable energy resources that includes wind and solar. Currently, renewable sources have become the preferred choice for expanding, upgrading, and modernizing power systems across the world. Energy storage technologies such as flow batteries solve issues related to the mismatch between supply and demand and intermittency problems associated with renewable energy sources. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 64 market data Tables and 55 Figures spread through 165 Pages and in-depth TOC on "Flow Battery Market - Global Forecast to 2023"
Early buyers will receive 10% customization on this report Redox held the largest share of flow battery market in 2017 The flow battery market based on type is led by the redox segment in terms of size. Redox flow battery is the most widely commercialized flow battery at present. It offers an economical and convenient means to store electrical energy at grid scale and other applications. Redox flow batteries also offer greater flexibility to influence power rating and energy rating for a given application than other electrochemical means for storing electrical energy. Technological advancements and enhancements are expected to alter the designs and use of redox flow battery in the near future. Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=82953888 The market for large scale flow batterylikely to grow at a higher CAGR during the forecast period Based on storage, the market for large-scale flow batteries is expected to witness the highest growth rate during the forecast period. Currently, a majority of verticals-such as utilities, industrial, commercial, and military across the world use large-scale flow battery to efficiently produce and store energy. Large-scale flow battery has been in the market for quite some years. Also, at present, large-scale flow batteries are commonly used in various projects and for several applications worldwide. North America expected to hold the largest size of the flow battery market during the forecast period North America held the largest size of the flow battery market in 2017, followed by APAC and Europe. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the flow battery market. In addition, favorable economic conditions in the US and the increase in the importance of battery energy storage, as well as supportive regulatory policies aiding energy storage in the US and other countries in the region are encouraging many domestic and international manufacturers to deploy flow battery for efficient energy supply. Flow battery market in APAC is expected to grow at the highest rate during the forecast period. Inquiry Before Buy @ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=82953888
Browse Related Reports Battery Management System Market by Battery Type (Lithium-Ion, Advanced Lead-Acid, Flow Battery, & Nickle Battery), Component, Topology (Centralized, Modular, Distributed), Application, and Geography - Global Trend and Forecast to 2022 Battery Energy Storage System Market by Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries,, & Sodium Sulfur), Connection Type (On-Grid and Off-Grid), Ownership, Revenue Source, Application, and Geography - Global Forecast to 2022 Subscribe Reports from Semiconductor & Electronic Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Visit Our Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets 
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