Redox Flow Battery Market Insights Video

According to Cognitive Market Research, the global Redox Flow Battery market size is USD 310.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 27.20% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 124.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.4% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 93.15 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 71.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 29.2% from 2024 to 2031.
• Latin America had a market share for more than 5% of the global revenue with a market size of USD 15.53 million in 2024 and will grow at a compound annual growth rate (CAGR) of 26.6% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 6.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 26.9% from 2024 to 2031.
• The Vanadium Redox Flow Battery held the highest Redox Flow Battery market revenue share in 2024.