The global flow battery market is expected to grow from $0.34 billion in 2024 to $1.18 billion by 2030, at a compound annual growth rate (CAGR) of 23.0%. Flow batteries are energy storage systems that have various applications, including utility, telecoms, commercial, industrial, and military. They have gained popularity in residential and electric vehicle charging applications due to their technical superiority over lithium-ion and lead-acid batteries. The market is segmented by battery type, material, storage, and use cases. The large-scale segment is expected to dominate the market, driven by the increasing demand for energy storage solutions in utilities, industrial, and commercial applications. The EV charging station segment is expected to grow at a high CAGR, driven by the growing adoption of electric vehicles. Asia Pacific is expected to grow at the highest rate, driven by the surging demand for flow batteries in countries such as Japan and Australia. Key companies in the market include Infinite Energy Systems, Sumitomo Electric Industries, and Enerox GmbH.
The flow battery industry is projected to reach a valuation of $1.18 billion by 2030, with a compound annual growth rate of 23.0%.
