Flow Battery market trend is Declining Li-ion battery prices. Batteries refer to the devices used to store energy, which can be utilized later at times of blackouts, power shortages, or when the demand for electricity is high.
Batteries are divided into lead-acid, lithium, or nickel-based. A battery plate grid enhances the life and performance of a battery.
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The network composition is a balance among the electrolyte's specific gravity, the active material used, and lead concentration. Batteries are used in automobiles, electronics, golf carts, and forklifts, among others.
Lithium-ion (Li-ion) and lead-acid batteries are most extensively utilized in automotive and motive industries.
The analysts forecast global flow battery market to grow at a CAGR of 3.38% during the period 2017-2021. The latest trend gaining momentum in the market is Declining Li-ion battery prices.
The market for Li-ion batteries has been gaining impetus and is witnessing rapid growth. Owing to this, there has been a decline in the demand for lead-acid batteries.
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The factor that is discriminating between Li-ion batteries and lead-acid batteries is price. The cost of Li-ion batteries is more than that of lead-acid batteries.
However, leading vendors in the manufacturing of Li-ion batteries are working on technological advances and are trying to reduce the price of Li-ion batteries.”
Key players in the global flow battery market: Primus Power, redT energy, UniEnergy Technologies, VanadiumCorp Resource, Vionx Energy, ACME, Amara Raja Power Systems, Coslight Group, EaglePicher Technologies, Eaton, EverExceed, EXIDE INDUSTRIES, GS Battery (USA), HBL Power Systems, Hitachi Chemical (previously FIAMM Energy Technology), Hitachi Chemical Energy Technology, HOPPECKE, KPS Capital Partners (previously C&D TECHNOLOGIES), LG Chem, NED Energy, NorthStar, Panasonic, SAMSUNG SDI, Schneider Electric, Shandong Sacred Sun Power Sources, Trojan Battery and Victron Energy.
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According to the report, one of the major drivers for this market is Rise of green telecom towers. Telecom tower and infrastructure operators in North America, especially those in the US, are under tremendous pressure to reduce their carbon footprint.
Therefore, manufacturers of telecom power system are expanding their product portfolio with green telecom power systems. Diesel accounts for more than two-fifth of the total operating expenditure, with diesel generators being predominantly used in the telecom sector.
Further, the flow battery market report states that one of the major factors hindering the growth of this market is Lead pollution and stringent laws. Lead-acid batteries account for the majority of the overall lead production.
The standard arrangement of lead-acid batteries consists of lead plates, with plastic coating on them, that are placed in sulfuric acid. The recycling of lead-acid batteries helps in reducing the number of disposable batteries as solid waste.
These batteries are rechargeable, which helps consumers to reuse them.
Few Points from List of Exhibits Provided in Global Total Station Market 2021:
Exhibit 1: Global Total Station Market By Geography 2016-2021 ($ Millions)
Exhibit 2: Global Total Station Market By Type 2016-2021 ($ Millions)
Exhibit 3: Parent Market
Exhibit 4: Global Surveying Equipment Market
Exhibit 5: Market Characteristics
Exhibit 6: Market Segments
Exhibit 7: Market Definition - Inclusions and Exclusions Checklist
Exhibit 8: Global Total Station Market Size 2016
Exhibit 9: Validation Techniques Employed For Market Sizing 2016
Exhibit 10: Global Total Station Market - Market Size and Forecast 2016-2021 ($ Millions)
Exhibit 11: Global Total Station Market - Year-Over-Year Growth 2017-2021 (%)
Exhibit 12: Five Forces Analysis 2016
Exhibit 13: Bargaining Power of Buyers
Exhibit 14: Bargaining Power of Suppliers
Exhibit 15: Threat of New Entrants
Exhibit 16: Threat of Substitutes
Exhibit 17: Threat of Rivalry
Exhibit 18: Five Forces Analysis 2016
Exhibit 19: Product - Market Share 2016-2021 (%)
Exhibit 20: Comparison By Product