A new report from Zhar Research has revealed that the market for redox flow batteries (RFB) is set to exceed $22 billion over the next two decades, with the potential to create a company worth $5 billion if the market is successfully pivoted to new technology and market priorities.
The 284-page report, “Redox Flow Batteries: 28 Market Forecasts, Roadmaps, Technologies, 48 Manufacturers, Research Pipeline 2024-2044”, provides an in-depth analysis of the RFB market, including the activities of 58 companies dominating the value chain, including 48 companies making, or about to make RFB.
Commenting on the report, Dr Peter Harrop, CEO of Zhar Research, said: “RFB costs will tumble with new technologies and volume sales. Specifications will radically improve, such as halving size, cost down 60%, wider temperature range, removing toxigens and expensive metals. However, there are reasons why RFB retaining some of this will still sell. A $1 billion vanadium RFB company will appear.”
The report details the importance of three emerging trends; radically different designs, long duration energy storage, and beyond-grid applications, beyond microgrids. It also provides 28 forecast lines, SWOT appraisals, two roadmaps 2024-2044 showing milestones ahead, 48 manufacturers and putative manufacturers, and detailed cost issues that move markets.
The report is available for purchase from www.zharresearch.com and www.giiresearch.com.
