
Study Period | 2019 - 2030 |
Market Size (2025) | USD 1.02 Billion |
Market Size (2030) | USD 2.08 Billion |
CAGR (2025 - 2030) | 15.41 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Flow Battery Market Analysis
The Flow Battery Market size is estimated at USD 1.02 billion in 2025, and is expected to reach USD 2.08 billion by 2030, at a CAGR of 15.41% during the forecast period (2025-2030).
The flow battery market is experiencing significant transformation driven by raw material dynamics and supply chain developments. China maintains its dominant position in the vanadium supply chain, accounting for approximately 66% of global production, which has substantial implications for flow battery manufacturing and pricing. The concentrated nature of vanadium production, with only a handful of major producers globally, has led to an increased focus on supply chain diversification and strategic partnerships between flow battery manufacturers and material suppliers. Companies are actively pursuing vertical integration strategies to secure raw material supplies, as evidenced by recent partnerships between battery manufacturers and vanadium producers.
Technological innovations are reshaping the flow battery landscape, with manufacturers focusing on improving energy density and system efficiency. In July 2022, the Research and Development Centre of the Dubai Electricity and Water Authority (DEWA) filed a patent for an advanced redox flow battery stack design that promises higher power densities and lower manufacturing costs. This innovation addresses one of the key challenges in flow battery technology by improving electrolyte distribution and overall system performance. Companies are also developing new electrolyte chemistries and cell designs to enhance battery performance and reduce costs.
Commercial deployment of flow batteries has gained significant momentum, particularly in large-scale energy storage applications. A notable example is the September 2022 commissioning of Dalian Rongke Power's 100 MW redox flow battery storage system in China, which is being scaled up to 200 MW. The project, representing an investment of approximately USD 266 million, demonstrates the growing confidence in flow battery technology for utility-scale applications. Additionally, ESS Inc. has announced plans to achieve 750 MWh of annual production capacity from fully automated manufacturing lines, indicating strong flow battery market growth.
Manufacturing capacity expansion and strategic partnerships are driving industry growth. In November 2022, H2 Inc began construction of a new vanadium redox flow battery market factory in South Korea with an annual production capacity of 330 MWh. Similarly, Tdafoq Energy partnered with Delectrik Systems to establish a GWh-scale vanadium flow battery plant in Saudi Arabia, expected to be operational by 2025. These developments reflect the industry's shift toward automated manufacturing processes and regional production capabilities to meet growing demand while reducing costs through economies of scale.
Flow Battery Market Trends
Increasing Adoption of Renewable Energy
The rapid expansion of renewable energy installations globally has created a significant demand for efficient energy storage solutions, particularly flow batteries. As renewable resources like solar and wind generate power intermittently and at varying levels, the need for reliable energy storage systems has become increasingly critical for grid stability and continuous power supply. The global installed renewable energy capacity reached 3063.93 GW in 2021, marking a substantial increase of 9.1% compared to the previous year. This tremendous growth in renewable energy deployment has made modern energy storage systems (ESS) indispensable components of renewable energy projects, as they enable effective management of power generation fluctuations and ensure consistent energy availability.
Flow batteries have emerged as an ideal solution for renewable energy storage due to their unique advantages in long-duration applications. These systems offer easy transportability, high modularity, and superior efficiency, with the capability to scale from kilowatt to megawatt range applications. Recent industry developments highlight the growing integration of flow batteries with renewable energy projects, as evidenced by Everdura's 15 MWh order from Infinity Energy Systems in December 2023. The increasing adoption of residential, commercial, and industrial solar rooftop PV systems coupled with energy storage systems further demonstrates the market's evolution toward more sophisticated storage solutions. Flow batteries' ability to handle high numbers of charging and discharging cycles, non-flammability, recyclability, and easy scalability in both power and capacity make them particularly well-suited for grid-level energy storage applications supporting renewable energy integration. This trend underscores the growth potential of the flow battery market, as these technologies become crucial in the flow battery energy storage systems market.
Segment Analysis: Type
Vanadium Redox Flow Battery Segment in Flow Battery Market
The Vanadium Redox Flow Battery (VRFB) segment dominates the global flow battery market, commanding approximately 83% market share in 2024. This significant market position is attributed to several key advantages that VRFBs offer, including a lifespan exceeding 20 years, suitability for both grid-connected and off-grid settings, the ability to discharge 100% without battery damage, and non-flammable characteristics. The segment's dominance is further strengthened by increasing demand from utility and off-grid markets, with major companies like VRB Energy, Rongke Power, and Sumitomo Electric actively commercializing this technology. The technology's ability to handle high numbers of charging and discharging cycles, combined with its recyclability and easy scalability in both power and capacity, makes it particularly attractive for grid-level energy storage applications.

Zinc Bromine Flow Battery Segment in Flow Battery Market
The Zinc Bromine Flow Battery segment is projected to experience substantial growth during the forecast period 2024-2029. This growth is driven by several technological advantages, including the low cost of materials, high energy density of 65-75 Wh/kg (compared to 25-35 Wh/kg for VRFBs), and 100% depth of discharge capability with minimal capacity degradation. Despite some limitations like low power density and round-trip efficiency, the segment's growth is supported by increasing investments in R&D efforts and its potential as a cost-effective alternative to other flow battery technologies. Companies like RedFlow are advancing the technology with innovations such as the ZBM3 battery, which is one of the world's smallest commercially available zinc-bromine flow batteries, demonstrating the segment's potential for both small commercial installations and multi-megawatt-hour storage systems.
Remaining Segments in Flow Battery Market
The remaining segments in the flow battery market, primarily consisting of Iron Flow Batteries and Zinc Iron Flow Batteries, play a crucial role in diversifying the market offerings. Iron flow batteries, characterized by their cost-efficiency and environmental sustainability, are gaining traction due to their non-toxic nature and practical advantages such as requiring no extra cooling. Zinc Iron flow batteries, though relatively newer to the market, are attracting attention due to their potential for grid-scale applications and the abundance of iron as a raw material. These segments are witnessing increased research and development activities, with companies focusing on improving their performance characteristics and commercial viability for various energy storage applications.
Flow Battery Market Geography Segment Analysis
Flow Battery Market in North America
The North American flow battery market has established itself as a significant player in the global landscape, holding approximately 8% of the global market share in 2024. The region's market is primarily driven by substantial investments in renewable energy infrastructure and favorable government policies promoting energy storage solutions. The United States leads the regional market with its ambitious clean energy targets and increasing focus on grid modernization initiatives. The market benefits from advanced research and development capabilities, strong technical expertise, and the presence of major flow battery manufacturers. The region's emphasis on grid stability and energy security has led to increased adoption of flow batteries in utility-scale applications. Additionally, the growing demand for long-duration energy storage solutions, particularly in remote and off-grid applications, continues to drive market growth. The presence of established distribution networks and strategic partnerships between technology providers and utility companies further strengthens the market position in North America.

Flow Battery Market in Europe
The European flow battery market has demonstrated remarkable growth, achieving approximately a 17% growth rate from 2019 to 2024, driven by the region's aggressive renewable energy targets and commitment to energy transition. The market is characterized by strong research and development initiatives, particularly in countries like Germany, the United Kingdom, and Spain. European countries' commitment to reducing carbon emissions and achieving energy independence has created a favorable environment for flow battery adoption. The region's focus on industrial decarbonization and grid modernization has opened new opportunities for flow battery deployment. The market benefits from strong regulatory support and funding mechanisms designed to promote clean energy storage solutions. The integration of flow batteries with renewable energy projects, particularly wind and solar installations, has become increasingly common across the region. Furthermore, the European Union's emphasis on creating a sustainable battery value chain has encouraged innovations in flow battery technology and manufacturing processes.
Flow Battery Market in Asia-Pacific
The Asia-Pacific flow battery market is positioned for exceptional growth, with projections indicating approximately a 21% growth rate from 2024 to 2029. The region represents the largest market for flow batteries globally, with China leading the deployment and manufacturing of these systems. The market is characterized by rapid industrialization, increasing renewable energy integration, and growing demand for reliable energy storage solutions. Japan and South Korea have emerged as significant players in flow battery technology development, particularly in vanadium redox flow batteries. The region benefits from abundant raw material availability, particularly vanadium resources in China, which provides a competitive advantage in manufacturing. Strong government support through policies and incentives has created a favorable environment for market expansion. The increasing focus on grid stability and energy security, particularly in developing economies, continues to drive market growth. Additionally, the region's growing telecommunications sector and data center industry have created new opportunities for flow battery applications.
Flow Battery Market in Rest of the World
The Rest of the World region, encompassing the Middle East, Africa, and South America, represents an emerging market for flow battery technology with significant growth potential. The market is primarily driven by increasing investments in renewable energy infrastructure, particularly in countries like Saudi Arabia and the United Arab Emirates. The region's focus on diversifying energy sources and reducing dependence on fossil fuels has created opportunities for flow battery deployment. Countries in these regions are increasingly recognizing the value of long-duration energy storage solutions for grid stability and renewable energy integration. The market benefits from growing industrial development and increasing demand for reliable power supply in remote locations. Strategic partnerships between international technology providers and local entities have facilitated market development. Furthermore, the region's abundant solar resources and growing investments in solar power projects have created a natural synergy with flow battery storage solutions. The market continues to evolve with improving infrastructure and increasing awareness of sustainable energy storage solutions.
Flow Battery Industry Overview
Top Companies in Flow Battery Market
The flow battery market features established players like VRB Energy, ESS Tech, RedFlow, Invinity Energy Systems, and Dalian Rongke Power, leading technological innovation and market expansion. Companies are focusing on developing advanced vanadium redox flow and zinc bromine flow battery technologies to enhance energy storage capacity and operational efficiency. Strategic partnerships and collaborations with utility companies and renewable energy providers have become increasingly common to strengthen market presence and technological capabilities. Manufacturers are investing in research and development to improve battery performance, reduce costs, and develop more sustainable solutions. Geographic expansion, particularly in regions with high renewable energy adoption, remains a key focus area for market leaders, while vertical integration strategies are being pursued to secure critical raw materials like vanadium and ensure supply chain resilience.
Dynamic Market with Growing Strategic Partnerships
The flow battery market exhibits a moderately fragmented structure with a mix of global technology companies and specialized flow battery manufacturers competing for market share. Large conglomerates are increasingly entering the market through acquisitions and strategic investments, recognizing the growing potential of flow battery technology in renewable energy storage applications. The market has witnessed significant merger and acquisition activity, particularly involving companies with complementary technologies or regional strengths, as evidenced by the merger of redT energy and Avalon Battery to form Invinity Energy Systems.
The competitive landscape is characterized by strong regional players in key markets like North America, Europe, and Asia-Pacific, with Chinese manufacturers holding significant production capacity. Companies are forming strategic alliances across the value chain, from raw material suppliers to end-users, to strengthen their market position and ensure sustainable growth. The industry is seeing increased collaboration between flow battery manufacturers and renewable energy developers, creating integrated solutions for utility-scale energy storage projects.
Innovation and Integration Drive Future Success
Success in the flow battery market increasingly depends on technological innovation, cost optimization, and the ability to provide integrated energy storage solutions. Companies must focus on developing more efficient and cost-effective battery systems while establishing strong relationships with utility companies and renewable energy providers. The ability to secure stable supply chains for critical materials, particularly vanadium, will be crucial for maintaining competitive advantages. Manufacturers need to invest in advanced manufacturing capabilities and develop modular, scalable solutions that can address diverse customer requirements across different applications.
Market contenders can gain ground by focusing on niche applications or specific geographic markets where they can build strong customer relationships and technical expertise. The relatively low buyer concentration in the utility sector presents opportunities for new entrants to establish themselves through innovative technologies or business models. However, companies must navigate potential regulatory changes, particularly regarding energy storage policies and environmental standards, while addressing the competitive pressure from alternative energy storage technologies. Building strong service and support networks, along with demonstrating long-term reliability and performance, will be critical for both incumbents and new entrants to succeed in this evolving market. The presence of redox flow battery companies further diversifies the competitive landscape, enhancing the flow battery market share.
Flow Battery Market Leaders
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RedFlow Ltd
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Primus Power Corporation
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VRB Energy
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Invinity Energy Systems Plc.
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ESS Tech Inc.
- *Disclaimer: Major Players sorted in no particular order

Flow Battery Market News
- September 2022: CellCube, the subsidiary of Austria-headquartered technology provider Enerox, formed an R&D partnership in Australia in anticipation of establishing a presence in the country's long-duration energy storage market. The companies will work together to integrate CellCube vanadium redox flow batteries (VRFBs) to help meet the power demand for 24/7 low-carbon energy in Australia, starting with a pilot project deployment of a 2 MW/8 MWh VRFB system.
- November 2022: Tdafoq Energy of Riyadh, Saudi Arabia, announced that the company had signed a distribution and manufacturing license with the Indian-based group Delectrik Systems. Under this agreement, Tdafoq Energy will sell vanadium redox flow battery products made in India by Delectrik in the Gulf countries of Kuwait, Bahrain, Oman, Saudi Arabia, Qatar, and the United Arab Emirates (UAE). Tdafoq has also announced plans to set up a local flow battery manufacturing plant in Saudi Arabia, which will serve the Gulf region. By 2025, the Saudi Arabian plant will be able to make GWh of electricity.
Flow Battery Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD million, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Vanadium Redox Flow Battery
- 5.1.2 Zinc Bromine Flow Battery
- 5.1.3 Iron Flow Battery
- 5.1.4 Zinc Iron Flow Battery
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5.2 Geography
- 5.2.1 North America
- 5.2.2 Europe
- 5.2.3 Asia-Pacific
- 5.2.4 South America
- 5.2.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 VRB Energy
- 6.3.2 ESS Tech Inc.
- 6.3.3 Vanadis Power GmbH
- 6.3.4 Primus Power Corporation
- 6.3.5 RedFlow Ltd.
- 6.3.6 Invinity Energy Systems PLC
- 6.3.7 Dalian Rongke Power Co. Ltd.
- 6.3.8 CellCube Energy Storage Systems Inc.
- 6.3.9 Stryten Energy
- 6.3.10 H2, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Flow Battery Industry Segmentation
A flow battery is a rechargeable battery in which electrolyte flows through one or more electrochemical cells from one or more tanks. Flow batteries are often used as a substitute for fuel cells and lithium-ion batteries.
The flow battery market is segmented by type and geography. By type, the market is segmented as vanadium redox flow batteries, zinc bromine flow batteries, iron flow batteries, and zinc iron flow batteries. The report also covers the market size and forecasts for the flow battery market across the major regions. The report offers the market size and revenue forecasts for flow batteries (in USD million) for all the above segments.
Type | Vanadium Redox Flow Battery |
Zinc Bromine Flow Battery | |
Iron Flow Battery | |
Zinc Iron Flow Battery | |
Geography | North America |
Europe | |
Asia-Pacific | |
South America | |
Middle-East and Africa |
Flow Battery Market Research FAQs
How big is the Flow Battery Market?
The Flow Battery Market size is expected to reach USD 1.02 billion in 2025 and grow at a CAGR of 15.41% to reach USD 2.08 billion by 2030.
What is the current Flow Battery Market size?
In 2025, the Flow Battery Market size is expected to reach USD 1.02 billion.
Who are the key players in Flow Battery Market?
RedFlow Ltd, Primus Power Corporation, VRB Energy, Invinity Energy Systems Plc. and ESS Tech Inc. are the major companies operating in the Flow Battery Market.
Which is the fastest growing region in Flow Battery Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Flow Battery Market?
In 2025, the Asia Pacific accounts for the largest market share in Flow Battery Market.
What years does this Flow Battery Market cover, and what was the market size in 2024?
In 2024, the Flow Battery Market size was estimated at USD 0.86 billion. The report covers the Flow Battery Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Flow Battery Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Flow Battery Market Research
Mordor Intelligence brings extensive expertise to the flow battery industry. We offer comprehensive analysis of the rapidly evolving redox flow battery sector. Our research thoroughly examines the global landscape of flow battery companies and flow battery manufacturers. We provide detailed insights into various technologies, including vanadium redox flow battery and zinc bromine battery systems. As leaders in analyzing the flow battery market size, our consultants employ rigorous methodologies to evaluate market dynamics and technological advancements in RFB systems.
Stakeholders across the energy storage sector can leverage our detailed analysis of flow battery market growth trends and emerging opportunities. The report provides actionable insights for redox flow battery companies and industry participants. It covers technological innovations and competitive landscapes. Our comprehensive research, available as an easy-to-download report PDF, includes detailed profiles of key manufacturers of flow batteries. It also offers analysis of various applications across different regions. The study particularly focuses on developments in stationary flow battery storage solutions and emerging technologies in the iron flow battery segment.