Redox Flow Battery Technology Trend and Market Forecast (~2025)
As eco-friendly renewable energy sources, such as wind power, solar PV, etc., have recently spread, the High Capacity Energy Storage System (ESS) market is receiving attention in storing the electric energy produced here, and the Redox Flow Battery technology, one of the batteries that can store energy, is also developing together.
Unlike the conventional lead & lithium-based batteries, the Redox Flow Battery is a system where the active material in a water-soluble electrolyte made of liquid is oxidized/reduced and then charged/discharged, which is an electrochemical capacitor that directly stores the chemical energy of the electrolyte as electrical energy.
Currently, pumping-up power generation and others among ESS applications are widely used, but due to problems, such as costs, geographical constraints, environmental destruction, etc., Redox Flow Batteries have recently emerged as an alternative, whose prospects are quite bright as researches to improve the energy efficiency, their disadvantage, are being continuously conducted.
The Flow Battery can cope with the markets from the KWh-class small size to MWh-class large size and has the strength of having a long life of 20 years. Furthermore, the fact that its Energy and Power is separated could be a great advantage, but because only small production at the project level and demonstration projects are underway so there is no mass production line unlike rival technologies including LiB and ALAB, reducing costs and securing mass production technologies is also now insufficient. In addition, owing to the upsurge in prices of the raw material vanadium in 2019, there are difficulties in securing price competitiveness, compared to LiB, the rival technology.
In contrast with this, in the case of LiB which is its rival technology, mass production technology has been matured because large companies, such as LG, Samsung, CATL, etc., which have large-scale mass production lines, are participating in the ESS market; as the price drop continues to occur due to this, it is acting as the biggest obstacle to the entry of the Flow Battery into the market. However, because fire accidents have continuously occurred in ESS where LiB is applied since 2019, for Flow Batteries, now could be the best opportunity to enter the market, as it is the time point that the market demand for a high-safety secondary battery that can replace this is increasing. SNE Research has explored the installation performance, current status of major companies, and technical challenges to be solved for Redox Flow Batteries, up to the recent date, and forecasted the mid- to long-term market until 2025.
1.1. Concept of high-capacity energy storage system 9
1.2. Types and features of high-capacity energy storage technology 10
1.2.1. Pumped storage
1.2.2. Compressed air
1.2.3. Flywheel
1.2.4. Lead acid
1.2.5. NaS battery
1.2.6. Lithium ion battery
1.2.7. Supercapacitor
1.2.8. Redox flow battery
1.3. Development trend of high-capacity energy storage technology by country 20
1.3.1. Japan
1.3.2. South Korea
1.3.3. China
1.3.4. USA
1.3.5. Europe
II. Redox Flow Battery Technology 36
2.1. Necessity of development of Redox Flow Battery 37
2.2. Understanding Redox Flow Battery 39
2.2.1. Concept of Redox Flow
2.2.1. Development history of Redox Flow Battery
2.3. Technology of Redox Flow Battery 43
2.3.1. Configuration of RFB ESS
2.3.2. RFB stack
2.3.3. RFB BOP
2.3.4. Core materials of RFB 53
III. Application Case for Redox Flow Battery 111
3.1. Load Leveling 114
3.2. Power Quality Control Applications 118
3.3. Coupling with Renewable Energy Sources 120
3.4. Electric Vehicles 124
Ⅳ. Recent Technical Issue and Development Trend of Redox Flow Battery 126
4.1. Lower-price 127
4.2. High-power large stack 129
4.3. High energy density 130
Ⅴ. Patent Trend of Redox Flow Battery 133
5.1. Patent analysis scope and criteria of Redox Flow Battery 134
5.2. Patent trend by host state of the Patent Office 136
5.2.1. Patent trend by year and patent share by host state
5.2.2. Patent share by host state of the Patent Office
5.2.3. Technology development degree
5.3. Patent trend by technology classification 141
5.3.1. Number of patents for each year by major classification
5.3.2. Patent share by middle classification and number of patents by year
5.3.3. Patent status by middle classification, by host state of the Patent Office, and by section
5.4. Applicant’s Patent Trend 146
5.4.1. All top applicants of Redox Flow Battery
5.4.2. All top applicants of Redox Flow Battery by major classification
5.4.3. Top applicants of Redox Flow Battery by host state of the Patent Office
5.4.4. Patent trend of major applicant (Sumitomo Electric)
VI. Technology Development and Business Trends of Major Research Institutes and Companies 152
6.1. USA 153
6.1.1. Pacific Northwest National Laboratory (PNNL)
6.1.2. Sandia National Laboratories (SNL)
6.1.3. UniEnergy Technologies
6.1.4. Imergy Power Systems
6.1.5. EnerVault
6.1.6. ZBB Energy
6.1.7. Vionx Energy Coporation
6.1.8. StorEn Technologies Inc.
6.1.9. Primus Power
6.1.10. ViZn Energy Systems
6.1.11. ESS Inc.
6.2. Canada 198
6.2.1. Northern Graphite
6.2.2. CellCube Energy Storage Systems Inc.
6.3. Japan 201
6.3.1. Sumitomo Electric Industries, Ltd.
6.3.2. Kansai Electric Power Co., Inc.
6.3.3. Okinawa Electric Power Co., Ltd.
6.4. Europe 208
6.4.1. Fraunhofer ICT (Institute for chemical technology) (Germany)
6.4.2. Gildemeister energy solutions (Germany)
6.4.3. JENA Batteries (Germany)
6.4.4. VoltStorage GmbH (Germany)
6.4.5. Vanadis power GmbH (Germany)
6.4.6. REDT UK Ltd. (UK)
6.4.7. EDP(Spain)
6.4.8. Plurion Systems(UK)
6.4.9. ITI Energy (UK)
6.4.10. Invinity Energy System (UK)
6.4.11. RISO DTU (Denmark)
6.4.12 Pinflow Energy Storage (Czech Public)
6.5. Australia 237
6.5.1. RedFlow
6.5.2. VSUN Energy
6.6. China 240
6.6.1. Prudent Energy
6.6.2. GEFC
6.6.3. DICP
6.6.4. Rongke Power Co. Ltd
6.7. South Korea 256
6.7.1. Development status of aqueous RFB
6.7.2. Development status of non-aqueous RFB
VII. Standardization of Flow Battery 263
7.1. International standardization activities 264
7.1.1. International standards
7.1.2. Domestic standards
VIII. Flow Battery Market Forecast 267
8.1. Installation results by Flow Battery maker 268
8.1.1. Prudent
8.1.2. Sumitomo Electric Industries
8.1.3. ZBB
8.2. Installation results of worldwide Flow Battery 277
8.3. Global Flow Battery market forecast 287
8.4. Flow Battery market forecast by country 289
8.5. Case study of Flow Battery installation 292
8.6. Flow Battery Market Factor Analysis 298
8.6.1. Flow Battery Technology Position
8.6.2. Flow Battery Cost
8.6.3. Demonstration and application case of Flow Battery
8.6.4. Flow Battery SWOT Analysis
8.6.5. Flow Battery Market Forecast