RE: Moving north19 Oct 2020 14:00
Dublin, Oct. 19, 2020 (GLOBE NEWSWIRE) -- The "Flow Batteries - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Flow Batteries estimated at US$296.5 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 29.9% over the period 2020-2027.
Redox, one of the segments analyzed in the report, is projected to record 30.4% CAGR and reach US$1.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid segment is readjusted to a revised 27.7% CAGR for the next 7-year period.
The U. S. Market is Estimated at $89.1 Million, While China is Forecast to Grow at 29% CAGR
The Flow Batteries market in the U. S. is estimated at US$89.1 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$316.2 Million by the year 2027 trailing a CAGR of 29% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 27% and 25.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21% CAGR.
3. MARKET TRENDS & DRIVERS
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