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Report
Asia-Pacific Flow Battery Market Forecast 2025-2032
Market Report I 2025-11-17 I 173 Pages I Inkwood Research
KEY FINDINGS
The Asia-Pacific flow battery market size is valued at $263.29 million as of 2025 and is expected to reach $969.79 million by 2032, progressing with a CAGR of 20.47% during the forecast years, 2025-2032.
MARKET INSIGHTS
The Asia-Pacific region emerges as the fastest-growing flow battery market globally, driven by unprecedented renewable energy capacity additions and comprehensive grid modernization initiatives. China's dominance in manufacturing and deployment creates ripple effects across neighboring countries seeking similar energy transition pathways. Consequently, governments throughout the region establish ambitious energy storage targets aligned with carbon neutrality commitments and renewable integration requirements.
Furthermore, rapid industrialization and urbanization drive electricity demand growth that necessitates grid infrastructure investments, including advanced storage technologies. The region benefits from strong government support through direct subsidies, preferential financing, and streamlined permitting processes that accelerate project development. Additionally, Asia-Pacific countries face unique grid stability challenges due to island geographies, typhoon resilience requirements, and legacy infrastructure limitations that storage addresses effectively.
Domestic manufacturing capabilities expand rapidly as countries pursue energy security and industrial policy objectives simultaneously. Moreover, corporate investments from multinational technology companies establish the region as a testing ground for next-generation energy storage applications. Competitive electricity markets in countries like Australia further create favorable conditions for merchant storage projects, generating revenue through multiple grid services.
REGIONAL ANALYSIS
The Asia-Pacific flow battery market growth assessment includes the analysis of China, Japan, India, South Korea, Indonesia, Vietnam, Thailand, Australia & New Zealand, and Rest of Asia-Pacific.
China dominates the global flow battery landscape through massive manufacturing scale, aggressive deployment targets, and comprehensive government support programs. The country's Fourteenth Five-Year Plan establishes specific energy storage capacity targets exceeding 30 GW by 2025, creating sustained demand visibility for manufacturers and developers. State-owned utilities implement large-scale flow battery projects as part of renewable energy integration strategies supporting wind and solar capacity buildouts.
Dalian, in particular, emerges as a flow battery manufacturing hub with the world's largest operational installation demonstrating technology viability at unprecedented scale. Moreover, Chinese manufacturers benefit from vertical integration encompassing raw material processing, component manufacturing, and system assembly. This integration creates cost advantages that position Chinese products competitively in both domestic and international markets. The government prioritizes vanadium flow battery development due to domestic vanadium reserves and established mining infrastructure.
Provincial governments offer subsidies and tax incentives for energy storage projects meeting specified technical criteria and local content requirements. However, challenges persist, including grid connection delays in certain provinces and evolving technical standards that create uncertainty for developers. Nevertheless, China's commitment to a carbon peak by 2030 and carbon neutrality by 2060 ensures continued policy support for energy storage deployment. Industrial parks and special economic zones increasingly incorporate flow batteries for a reliable power supply supporting advanced manufacturing operations.
Japan pursues flow battery adoption as part of its energy security strategy following the Fukushima nuclear incident and subsequent energy policy reforms. The country's island geography and limited interconnection capacity necessitate domestic energy storage solutions for grid stability and renewable integration. Japanese utilities conduct extensive demonstration projects evaluating flow battery performance across diverse applications, including frequency regulation and renewable firming.
Sumitomo Electric Industries leads domestic development efforts with decades of research experience and multiple commercial installations. Moreover, Japan's Ministry of Economy, Trade, and Industry provides funding for energy storage technology development and commercialization through various grant programs. The country's sophisticated manufacturing sector creates opportunities for flow battery deployment in industrial facilities seeking reliable backup power and energy cost optimization.
However, limited land availability and high real estate costs challenge flow battery deployment in urban areas where space requirements present economic obstacles. Nevertheless, remote island communities implement flow batteries as part of microgrid systems, reducing dependence on expensive diesel fuel imports. Japan's focus on technological excellence drives innovations in compact system designs and advanced control algorithms, optimizing performance. Partnerships between utilities, manufacturers, and research institutions accelerate the commercialization of next-generation technologies tailored to Japanese market requirements.
South Korea advances flow battery deployment aligned with its Green New Deal policies and renewable energy expansion targets. The government's commitment to carbon neutrality by 2050 requires substantial energy storage investments supporting the transition from coal and nuclear generation. Korean utilities implement pilot projects evaluating flow battery applications for grid services and renewable integration at increasing scale.
The country's advanced battery industry, traditionally focused on lithium-ion technology, is gradually diversifying into flow battery manufacturing, recognizing long-duration storage market opportunities. Moreover, South Korea's dense urban population creates unique challenges and opportunities for distributed energy storage deployment. Industrial complexes housing semiconductor and electronics manufacturing require an extremely reliable power supply, making flow batteries attractive for backup applications. South Korea's strategic location and trade relationships further position it as a potential flow battery export hub serving Southeast Asian markets.
SEGMENTATION ANALYSIS
The Asia-Pacific flow battery market is segmented into offering, battery type, material, ownership, storage, and application. The offering segment is further categorized into energy storage system, battery, and service.
The battery component segment demonstrates significant growth potential across Asia-Pacific as existing installations require capacity expansions and performance upgrades. Many early flow battery deployments in the region now approach mid-life points where stack replacements enhance overall system performance cost-effectively. Utilities that initially installed conservative capacity sizes now recognize the need for additional power and energy capability to meet evolving grid requirements.
Consequently, demand for modular stack additions accelerates without requiring complete system replacements. This segment benefits particularly from China's massive installed base of vanadium flow batteries requiring ongoing maintenance and component refreshments. Moreover, manufacturers develop standardized stack products enabling easier retrofits and capacity expansions compared to first-generation custom designs.
Regional production capabilities reduce lead times and transportation costs, making component-level purchases increasingly attractive compared to complete imported systems. Southeast Asian countries importing flow battery technology gradually developing local assembly capabilities, starting with stack integration before progressing to full system manufacturing.
The battery segment also attracts specialized manufacturers focusing exclusively on electrochemical stack production rather than complete system integration. These component suppliers serve system integrators and end users seeking best-in-class performance for specific applications. Competition drives continuous innovation in membrane materials, electrode coatings, and flow field designs, optimizing efficiency and durability. Furthermore, the segment benefits from economies of scale as production volumes increase, driving down per-unit costs significantly.
Quality certifications and standardized testing protocols emerge, enabling customers to compare different manufacturers' offerings objectively. Warranty programs extending 10-15 years provide confidence for buyers investing in stack replacements for existing systems. Moreover, modular designs simplify installation and commissioning, reducing labor costs and project timelines. The growing service market around stack maintenance, testing, and replacement creates business opportunities for specialized firms throughout the region.
COMPETITIVE INSIGHTS
Some of the top players operating in the Asia-Pacific flow battery market include Dalian Rongke Power Co Ltd, Sumitomo Electric Industries Ltd, Redflow Limited, VRB Energy, etc.
Dalian Rongke Power Co, Ltd stands as one of China's leading flow battery manufacturers and a global leader in large-scale vanadium redox flow battery deployments. The company operates from its headquarters in Dalian, China, where it maintains extensive manufacturing facilities and research centers. Dalian Rongke specializes in utility-scale energy storage systems ranging from tens of megawatts to hundreds of megawatt-hours capacity.
The company achieved global recognition by developing and operating the world's largest flow battery installation, a 400 MWh system in Dalian, completed in 2022. This landmark project demonstrates commercial viability at an unprecedented scale while providing critical grid services for renewable energy integration. Dalian Rongke benefits from strong relationships with state-owned utilities and preferential access to government subsidy programs supporting energy storage deployment. The company's vertical integration encompasses vanadium mining interests, electrolyte production, stack manufacturing, and complete system assembly.
This integration creates cost advantages and supply chain security that competitors struggle to match. Moreover, Dalian Rongke actively pursues international expansion through partnerships and project development in Southeast Asia, Europe, and other regions. The company's technology roadmap focuses on improving energy density, reducing costs, and developing standardized modular systems for faster deployment. Dalian Rongke maintains close collaboration with Chinese research institutions advancing next-generation flow battery technologies while commercializing proven designs for immediate market needs.
COMPANY PROFILES
1. CELLCUBE INC
2. DALIAN RONGKE POWER CO LTD
3. ELESTOR BV
4. ESS TECH INC
5. INVINITY ENERGY SYSTEMS
6. LOCKHEED MARTIN CORPORATION
7. PRIMUS POWER SOLUTIONS
8. REDFLOW LIMITED
9. SCHMID GROUP
10. STRYTEN ENERGY
11. SUMITOMO ELECTRIC INDUSTRIES LTD
12. VANADIS POWER GMBH
13. VIZN ENERGY SYSTEMS
14. VRB ENERGY
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & FORECAST
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.5. MAJOR MARKET FINDINGS
2.5.1. THE FLOW BATTERY MARKET IS EXPERIENCING STRONG GROWTH DUE TO INCREASING DEMAND FOR LONG-DURATION ENERGY STORAGE SOLUTIONS
2.5.2. VANADIUM REDOX FLOW BATTERIES CONTINUE TO DOMINATE THE MARKET OWING TO THEIR HIGH CYCLING STABILITY AND SCALABILITY
2.5.3. NON-VANADIUM FLOW BATTERIES SUCH AS ZINC-BROMINE AND IRON-CHROMIUM ARE GAINING TRACTION DUE TO LOWER MATERIAL COSTS
2.5.4. ASIA-PACIFIC REGION IS EMERGING AS THE FASTEST-GROWING MARKET DRIVEN BY GRID MODERNIZATION AND RENEWABLE INTEGRATION INITIATIVES
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. RISING DEPLOYMENT OF RENEWABLE ENERGY REQUIRING GRID-STABLE STORAGE SYSTEMS
3.1.2. GOVERNMENT INCENTIVES AND POLICY SUPPORT FOR ENERGY STORAGE TECHNOLOGIES
3.1.3. INCREASING INVESTMENT IN MICROGRID AND OFF-GRID POWER PROJECTS
3.1.4. ADVANCEMENTS IN ELECTROLYTE AND MEMBRANE TECHNOLOGIES ENHANCING PERFORMANCE
3.2. KEY RESTRAINTS
3.2.1. HIGH INITIAL CAPITAL COST COMPARED TO LITHIUM-ION BATTERIES
3.2.2. LIMITED AVAILABILITY AND PRICE VOLATILITY OF VANADIUM MATERIALS
3.2.3. LOW MARKET AWARENESS AND LACK OF STANDARDIZATION IN DEPLOYMENT
3.2.4. LARGE SYSTEM FOOTPRINT MAKING INSTALLATION CHALLENGING IN SPACE-CONSTRAINED SITES
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. SHIFT TOWARD HYBRID STORAGE SYSTEMS COMBINING FLOW AND LITHIUM-ION TECHNOLOGIES
4.1.2. INCREASED COMMERCIALIZATION OF ORGANIC AND AQUEOUS FLOW BATTERIES
4.1.3. GROWING ADOPTION IN DATA CENTERS AND UTILITY-SCALE ENERGY STORAGE PROJECTS
4.1.4. TECHNOLOGICAL INNOVATIONS TARGETING MODULAR AND CONTAINERIZED SYSTEM DESIGNS
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.3.1. GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
4.4. MARKET MATURITY ANALYSIS
4.5. MARKET CONCENTRATION ANALYSIS
4.6. VALUE CHAIN ANALYSIS
4.6.1. RAW MATERIAL SUPPLIERS
4.6.2. ELECTROLYTE MANUFACTURERS
4.6.3. MEMBRANE AND STACK PRODUCERS
4.6.4. SYSTEM INTEGRATORS
4.6.5. PROJECT DEVELOPERS
4.6.6. UTILITY AND COMMERCIAL END USERS
4.7. KEY BUYING CRITERIA
4.7.1. COST PER KWH
4.7.2. CYCLE LIFE
4.7.3. SCALABILITY
4.7.4. MAINTENANCE REQUIREMENTS
4.8. REGULATORY FRAMEWORK
5. FLOW BATTERY MARKET BY OFFERING
5.1. ENERGY STORAGE SYSTEM
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. BATTERY
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
5.3. SERVICE
5.3.1. MARKET FORECAST FIGURE
5.3.2. SEGMENT ANALYSIS
6. FLOW BATTERY MARKET BY BATTERY TYPE
6.1. REDOX
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. HYBRID
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
7. FLOW BATTERY MARKET BY MATERIAL
7.1. VANADIUM
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. ZINC-BROMINE
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. IRON
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
7.4. OTHER MATERIALS
7.4.1. MARKET FORECAST FIGURE
7.4.2. SEGMENT ANALYSIS
8. FLOW BATTERY MARKET BY OWNERSHIP
8.1. CUSTOMER-OWNED
8.1.1. MARKET FORECAST FIGURE
8.1.2. SEGMENT ANALYSIS
8.2. THIRD-PARTY-OWNED
8.2.1. MARKET FORECAST FIGURE
8.2.2. SEGMENT ANALYSIS
8.3. GRID/UTILITY-OWNED
8.3.1. MARKET FORECAST FIGURE
8.3.2. SEGMENT ANALYSIS
9. FLOW BATTERY MARKET BY STORAGE
9.1. LARGE-SCALE
9.1.1. MARKET FORECAST FIGURE
9.1.2. SEGMENT ANALYSIS
9.2. SMALL-SCALE
9.2.1. MARKET FORECAST FIGURE
9.2.2. SEGMENT ANALYSIS
10. FLOW BATTERY MARKET BY APPLICATION
10.1. GRID/UTILITY
10.1.1. MARKET FORECAST FIGURE
10.1.2. SEGMENT ANALYSIS
10.2. COMMERCIAL AND INDUSTRIAL
10.2.1. MARKET FORECAST FIGURE
10.2.2. SEGMENT ANALYSIS
10.3. EV CHARGING STATION
10.3.1. MARKET FORECAST FIGURE
10.3.2. SEGMENT ANALYSIS
10.4. OTHER APPLICATIONS
10.4.1. MARKET FORECAST FIGURE
10.4.2. SEGMENT ANALYSIS
11. GEOGRAPHICAL ANALYSIS
11.1. ASIA-PACIFIC
11.1.1. MARKET SIZE & ESTIMATES
11.1.2. ASIA-PACIFIC MARKET DRIVERS
11.1.3. ASIA-PACIFIC MARKET CHALLENGES
11.1.4. KEY PLAYERS IN ASIA-PACIFIC FLOW BATTERY MARKET
11.1.5. COUNTRY ANALYSIS
11.1.5.1. CHINA
11.1.5.1.1. CHINA MARKET SIZE & OPPORTUNITIES
11.1.5.2. INDIA
11.1.5.2.1. INDIA MARKET SIZE & OPPORTUNITIES
11.1.5.3. JAPAN
11.1.5.3.1. JAPAN MARKET SIZE & OPPORTUNITIES
11.1.5.4. AUSTRALIA & NEW ZEALAND
11.1.5.4.1. AUSTRALIA & NEW ZEALAND MARKET SIZE & OPPORTUNITIES
11.1.5.5. SOUTH KOREA
11.1.5.5.1. SOUTH KOREA MARKET SIZE & OPPORTUNITIES
11.1.5.6. THAILAND
11.1.5.6.1. THAILAND MARKET SIZE & OPPORTUNITIES
11.1.5.7. INDONESIA
11.1.5.7.1. INDONESIA MARKET SIZE & OPPORTUNITIES
11.1.5.8. VIETNAM
11.1.5.8.1. VIETNAM MARKET SIZE & OPPORTUNITIES
11.1.5.9. REST OF ASIA-PACIFIC
11.1.5.9.1. REST OF ASIA-PACIFIC MARKET SIZE & OPPORTUNITIES
12. COMPETITIVE LANDSCAPE
12.1. KEY STRATEGIC DEVELOPMENTS
12.1.1. MERGERS & ACQUISITIONS
12.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
12.1.3. PARTNERSHIPS & AGREEMENTS
12.1.4. BUSINESS EXPANSIONS & DIVESTITURES
12.2. COMPANY PROFILES
12.2.1. CELLCUBE INC
12.2.1.1. COMPANY OVERVIEW
12.2.1.2. PRODUCTS LIST
12.2.1.3. STRENGTHS & CHALLENGES
12.2.2. DALIAN RONGKE POWER CO LTD
12.2.2.1. COMPANY OVERVIEW
12.2.2.2. PRODUCTS LIST
12.2.2.3. STRENGTHS & CHALLENGES
12.2.3. ELESTOR BV
12.2.3.1. COMPANY OVERVIEW
12.2.3.2. PRODUCTS LIST
12.2.3.3. STRENGTHS & CHALLENGES
12.2.4. ESS TECH INC
12.2.4.1. COMPANY OVERVIEW
12.2.4.2. PRODUCTS LIST
12.2.4.3. STRENGTHS & CHALLENGES
12.2.5. INVINITY ENERGY SYSTEMS
12.2.5.1. COMPANY OVERVIEW
12.2.5.2. PRODUCTS LIST
12.2.5.3. STRENGTHS & CHALLENGES
12.2.6. LOCKHEED MARTIN CORPORATION
12.2.6.1. COMPANY OVERVIEW
12.2.6.2. PRODUCTS LIST
12.2.6.3. STRENGTHS & CHALLENGES
12.2.7. PRIMUS POWER SOLUTIONS
12.2.7.1. COMPANY OVERVIEW
12.2.7.2. PRODUCTS LIST
12.2.7.3. STRENGTHS & CHALLENGES
12.2.8. REDFLOW LIMITED
12.2.8.1. COMPANY OVERVIEW
12.2.8.2. PRODUCTS LIST
12.2.8.3. STRENGTHS & CHALLENGES
12.2.9. SCHMID GROUP
12.2.9.1. COMPANY OVERVIEW
12.2.9.2. PRODUCTS LIST
12.2.9.3. STRENGTHS & CHALLENGES
12.2.10. STRYTEN ENERGY
12.2.10.1. COMPANY OVERVIEW
12.2.10.2. PRODUCTS LIST
12.2.10.3. STRENGTHS & CHALLENGES
12.2.11. SUMITOMO ELECTRIC INDUSTRIES LTD
12.2.11.1. COMPANY OVERVIEW
12.2.11.2. PRODUCTS LIST
12.2.11.3. STRENGTHS & CHALLENGES
12.2.12. VANADIS POWER GMBH
12.2.12.1. COMPANY OVERVIEW
12.2.12.2. PRODUCTS LIST
12.2.12.3. STRENGTHS & CHALLENGES
12.2.13. VIZN ENERGY SYSTEMS
12.2.13.1. COMPANY OVERVIEW
12.2.13.2. PRODUCTS LIST
12.2.13.3. STRENGTHS & CHALLENGES
12.2.14. VRB ENERGY
12.2.14.1. COMPANY OVERVIEW
12.2.14.2. PRODUCTS LIST
12.2.14.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - FLOW BATTERY
TABLE 2: MARKET BY OFFERING, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 3: MARKET BY OFFERING, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 4: MARKET BY BATTERY TYPE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 5: MARKET BY BATTERY TYPE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 6: MARKET BY MATERIAL, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 7: MARKET BY MATERIAL, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 8: MARKET BY OWNERSHIP, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 9: MARKET BY OWNERSHIP, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 10: MARKET BY STORAGE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 11: MARKET BY STORAGE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 12: MARKET BY APPLICATION, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 13: MARKET BY APPLICATION, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 14: ASIA-PACIFIC MARKET, COUNTRY ANALYSIS, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC MARKET, COUNTRY ANALYSIS, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 16: KEY PLAYERS OPERATING IN THE ASIA-PACIFIC MARKET
TABLE 17: LIST OF MERGERS & ACQUISITIONS
TABLE 18: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 19: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 20: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: SEGMENT GROWTH POTENTIAL, BY OFFERING, IN 2024
FIGURE 9: ENERGY STORAGE SYSTEM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 10: BATTERY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 11: SERVICE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 12: MARKET GROWTH POTENTIAL, BY BATTERY TYPE, IN 2024
FIGURE 13: REDOX MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 14: HYBRID MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 15: SEGMENT GROWTH POTENTIAL, BY MATERIAL, IN 2024
FIGURE 16: VANADIUM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 17: ZINC-BROMINE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 18: IRON MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 19: OTHER MATERIALS MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 20: SEGMENT GROWTH POTENTIAL, BY OWNERSHIP, IN 2024
FIGURE 21: CUSTOMER-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 22: THIRD-PARTY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 23: GRID/UTILITY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 24: SEGMENT GROWTH POTENTIAL, BY STORAGE, IN 2024
FIGURE 25: LARGE-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 26: SMALL-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 27: SEGMENT GROWTH POTENTIAL, BY APPLICATION, IN 2024
FIGURE 28: GRID/UTILITY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 29: COMMERCIAL AND INDUSTRIAL MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 30: EV CHARGING STATION MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 31: OTHER APPLICATIONS MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 32: ASIA-PACIFIC FLOW BATTERY MARKET, COUNTRY OUTLOOK, 2024 & 2032 (IN %)
FIGURE 33: CHINA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 34: INDIA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 35: JAPAN MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 36: AUSTRALIA & NEW ZEALAND MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 37: SOUTH KOREA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 38: THAILAND MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 39: INDONESIA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 40: VIETNAM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 41: REST OF ASIA-PACIFIC MARKET SIZE, 2025-2032 (IN $ MILLION)
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - FLOW BATTERY
TABLE 2: MARKET BY OFFERING, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 3: MARKET BY OFFERING, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 4: MARKET BY BATTERY TYPE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 5: MARKET BY BATTERY TYPE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 6: MARKET BY MATERIAL, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 7: MARKET BY MATERIAL, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 8: MARKET BY OWNERSHIP, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 9: MARKET BY OWNERSHIP, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 10: MARKET BY STORAGE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 11: MARKET BY STORAGE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 12: MARKET BY APPLICATION, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 13: MARKET BY APPLICATION, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 14: ASIA-PACIFIC MARKET, COUNTRY ANALYSIS, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC MARKET, COUNTRY ANALYSIS, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 16: KEY PLAYERS OPERATING IN THE ASIA-PACIFIC MARKET
TABLE 17: LIST OF MERGERS & ACQUISITIONS
TABLE 18: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 19: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 20: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: SEGMENT GROWTH POTENTIAL, BY OFFERING, IN 2024
FIGURE 9: ENERGY STORAGE SYSTEM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 10: BATTERY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 11: SERVICE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 12: MARKET GROWTH POTENTIAL, BY BATTERY TYPE, IN 2024
FIGURE 13: REDOX MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 14: HYBRID MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 15: SEGMENT GROWTH POTENTIAL, BY MATERIAL, IN 2024
FIGURE 16: VANADIUM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 17: ZINC-BROMINE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 18: IRON MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 19: OTHER MATERIALS MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 20: SEGMENT GROWTH POTENTIAL, BY OWNERSHIP, IN 2024
FIGURE 21: CUSTOMER-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 22: THIRD-PARTY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 23: GRID/UTILITY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 24: SEGMENT GROWTH POTENTIAL, BY STORAGE, IN 2024
FIGURE 25: LARGE-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 26: SMALL-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 27: SEGMENT GROWTH POTENTIAL, BY APPLICATION, IN 2024
FIGURE 28: GRID/UTILITY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 29: COMMERCIAL AND INDUSTRIAL MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 30: EV CHARGING STATION MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 31: OTHER APPLICATIONS MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 32: ASIA-PACIFIC FLOW BATTERY MARKET, COUNTRY OUTLOOK, 2024 & 2032 (IN %)
FIGURE 33: CHINA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 34: INDIA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 35: JAPAN MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 36: AUSTRALIA & NEW ZEALAND MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 37: SOUTH KOREA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 38: THAILAND MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 39: INDONESIA MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 40: VIETNAM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 41: REST OF ASIA-PACIFIC MARKET SIZE, 2025-2032 (IN $ MILLION)
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