Redox Flow Batteries Market 2026-2036: Forecasts, Markets, Technologies and Players

IDTechEx forecasts that the redox flow battery (RFB) market is forecast to reach US$9.2B in value by 2036. The growing penetration of variable renewable energy (VRE) in electricity grids will create longer periods where supply from these intermittent sources is not occurring. This will create demand for long duration energy storage (LDES) technologies which can dispatch energy over these longer, 6+ hour, timeframes economically. While Li-ion battery energy storage system (BESS) costs continue to decrease, these technologies cannot decouple their energy capacity and power output. RFBs are capable of this by independently scaling electrolyte volumes for energy capacity and cell stacks for power output. In theory, they can achieve lower Capex (on a US$/kWh basis) than li-ion BESS at longer durations of storage. This, coupled with non-vanadium chemistries such as organic or iron-based RFBs using abundant materials, or electrolytes which are cheaper to synthesize, suggests promise for lower-cost RFB technologies in the long-term.

 

 

Outside of the future demand for LDES technologies, and amid the artificial intelligence (AI) boom, RFBs could also be used to support data centers. IDTechEx has observed several key RFB-data center projects being developed in Europe and the US. RFBs can support data center decarbonization by replacing the need for diesel generators to provide uninterruptible power supply (UPS) over sustained periods, to manage volatile compute loads, and to peak shave electricity from the grid. The use of non-flammable electrolyte in RFBs and increasing scrutiny of Li-ion battery storage safety amid recent large-scale fires provides a key value proposition for RFB developers. Other key advantages such as electrolyte recyclability and a lower levelized cost of storage (LCOS) at longer durations of storage will be leveraged by RFB developers in the medium-term. These factors are but some which will drive the RFB market to grow at a CAGR of 27% for the 2026-2036 period.

 

Over the past few years, the RFB market has seen significant growth compared to pre-2023, with key player Rongke Power being responsible for several multi-100-MWh flow battery projects, and even a GWh-scale project. Other key players such as Sumitomo Electric Industries, Invinity Energy Systems, and CellCube, have continued to steadily deploy volumes of vanadium flow batteries also, while scaling their businesses and forming supply chain partnerships. Funding across the market is also significant, with IDTechEx identifying over US$1B raised cumulatively by RFB players. This is a significant volume for any energy storage technology competing against the incumbent li-ion BESS.

 

 

While recent RFB growth has been significant, these volumes are still minor compared to those seen by li-ion BESS. This has been driven primarily by the high cost of vanadium RFB (VRFB) technologies. To support RFB and LDES growth, key policies and programs such as the One Big Beautiful Bill Act (OBBBA) in the US, the UK Cap & Floor Scheme, and key projects supported by the California Energy Commission (CEC) will also factor into the emergence of growing western RFB markets. The impact of these policies, programs, and projects are discussed in this IDTechEx report.

 

VRFBs are the most widely deployed and understood RFB chemistry, thanks to its sufficient performance. Compared to Li-ion BESS, this performance is often worse (e.g., energy density), and at shorter durations of storage, cost is often higher. This is driven by the use expensive electrolyte which uses the critical mineral, vanadium. Therefore, demand for other non-vanadium RFB chemistries has increased in recent years. IDTechEx has observed an uptick in development, commercialization of, and key projects of organic and iron-based chemistries which could include all-iron, chromium, zinc, vanadium, and hydrogen. Other, niche RFB chemistries also see development, for example utilizing manganese, CO₂, saltwater, or microemulsion formulations. The variety of redox couples that can be used is vast. However, for an RFB technology to be successful in an increasingly competitive global energy storage market, the use of abundant and low-cost materials in easy-to-access supply chains, coupled with strong performance across energy density, energy efficiency, power density, and system lifetime will be needed. This IDTechEx report benchmarks 10 redox flow battery chemistries across Capex, commercial status, and key performance metrics, assesses their advantages and disadvantages, and provides an outlook for RFB chemistry market share over the next 10 years.

 

While the electrolyte is one of the main parts of flow batteries, these devices are complex systems, similar to fuel cells and electrolyzers in their structure. The overall performance is dictated by its constituent components including the electrolyte, cell stack, and balance of plant. IDTechEx has observed innovations in cell stack materials and components to improve the power density of the stack, with focus on the electrodes and bipolar plates (BPP). Indeed, improving the performance of RFB components will be needed to improve overall RFB outlook in the energy storage market. The expansion of vanadium electrolyte manufacturing capacity has also been observed, with the emergence of supply chain partnerships and leasing occurring between electrolyte manufacturers and RFB developers in key regions. This IDTechEx report provides analysis on vanadium supply, key electrolyte market updates, cell stack component innovation, key component suppliers, and future material trends in the cell stack including key commentary on PFAS-based membranes and alternatives.

 

 

This IDTechEx report provides 10-year market forecasts on the redox flow battery market for the 2020-2036 period, by region (GWh), chemistry (GWh) and value by chemistry (US$B). Regions include China, Europe, United States, Japan, Rest of Asia, and Rest of the World. Chemistry forecasts include vanadium (VRFB), organic, all-iron, iron-vanadium (Fe-V), iron-chromium (Fe-Cr), iron-zinc (Fe-Zn), iron-hydrogen (Fe-H), and "other".

 

This IDTechEx report includes 45 company profiles, including redox flow battery players, cell stack component and material suppliers, and electrolyte manufacturers and suppliers.

This report provides the following information:

 

All report purchases include up to 30 minutes telephone time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.

If you have any questions about this report, please do not hesitate to contact our report team at research@IDTechEx.com or call one of our sales managers:

AMERICAS (USA): +1 617 577 7890

ASIA (Japan and Korea): +81 3 3216 7209

ASIA: +44 1223 810259

EUROPE (UK) +44 1223 812300