Navigant Research Names CellCube and Sumitomo Electric the Top Flow Battery Vendors
Leading companies have superior in-house resources or key partnerships that can drive growth with financial support, technical development, and more
A new Leaderboard Report from Navigant Research examines the strategy and execution of 12 flow battery vendors, with CellCube and Sumitomo Electric ranked as the leading market players.
Flow batteries have long been considered the next disruptive energy storage technology that will surpass the capabilities of lithium ion (Li-ion) batteries and enable a new wave of the industry’s growth. However, dramatic price decreases for Li-ion batteries undercut planned development for many flow battery vendors, and the industry remains in its early stages. Despite these setbacks, several promising market players are emerging. Click to tweet: According to a new Leaderboard report from @NavigantRSRCH, CellCube and Sumitomo Electric are leading flow battery vendors.
“Many vendors offer similar technologies and products into similar markets with similar strategies. However, based on their existing installed base of projects and pipelines, several vendors are emerging as leaders and top contenders,” says Alex Eller, senior research analyst with Navigant Research. “These companies have superior in-house resources or established key partnerships with companies that can drive growth in terms of financial support, technical development, project origination, and access to new markets.”
According to the report, flow batteries can provide key advantages compared with Li-ion and other technologies, including greater durability and lifespan, lower operating costs, safer operation, and a lower environmental impact in manufacturing and recycling. With these advantages, many flow battery vendors claim their products are competitive with Li-ion during the life of an energy storage project.
The report, Navigant Research Leaderboard: Flow Battery Vendors, evaluates the Strategy and Execution of 12 leading flow battery energy storage providers. Using the Navigant Research, a Guidehouse company, proprietary Leaderboard methodology, vendors are profiled, rated, and ranked to provide industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market for flow batteries for grid energy storage. These companies are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. An Executive Summary of the report is available for free download on the Navigant Research website.
*The information contained in this press release concerning the report, Navigant Research Leaderboard: Flow Battery Vendors, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant - a Guidehouse company undertakes any obligation to update any of the information contained in this press release or the report.