Flow Battery Market Size

Statistics for the 2023 & 2024 Flow Battery market size, created by Mordor Intelligence™ Industry Reports. Flow Battery size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Flow Battery Industry

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Flow Battery Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 0.88 Billion
Market Size (2029) USD 1.79 Billion
CAGR (2024 - 2029) 15.41 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Flow Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Flow Battery Market Analysis

The Flow Battery Market size is estimated at USD 0.88 billion in 2024, and is expected to reach USD 1.79 billion by 2029, growing at a CAGR of 15.41% during the forecast period (2024-2029).

In 2020, COVID-19 had a detrimental effect on the market.Presently, the market has reached pre-pandemic levels.

  • Over the long term, the applications of the flow battery market are likely to grow during the study period due to the growing penetration of the technology in long-duration energy storage applications, such as renewable power systems, and their long service lives.
  • On the other hand, because battery cells don't hold much energy, the market may not grow as fast in the near future.
  • Nevertheless, the new technological innovations to diversify the scope of flow batteries in new commercial areas create tremendous opportunities for market growth.
  • The Asia-Pacific region is expected to grow at the fastest rate during the forecast period due to many upcoming renewable energy and storage projects in the region.

Flow Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)