Summary

KEY FINDINGS
The United States flow battery market size is valued at $152.78 million as of 2025 and is expected to reach $539.23 million by 2032, progressing with a CAGR of 19.74% during the forecast years, 2025-2032.
United States flow battery market demonstrates robust growth through comprehensive federal and state-level support mechanisms. According to our analysis, strong project pipelines emerge supported by investment tax credits and clean energy mandates. Utilities invest heavily in grid modernization programs, including long-duration storage solutions nationwide. Department of Energy-funded research programs continue accelerating technology commercialization through substantial grant initiatives. Private sector deployment grows rapidly in data centers, microgrids, and renewable energy projects. These dynamics position the United States as a premier destination for flow battery manufacturers and project developers.

MARKET INSIGHTS
Moreover, corporate demand for clean energy plus storage drives commercial adoption across industrial sectors. The Bipartisan Infrastructure Law allocated $6 billion for battery manufacturing and recycling programs supporting domestic supply chains. Venture capital inflows support emerging manufacturers and technology innovators pursuing next-generation electrolyte materials. However, interconnection delays and uncertain regulatory frameworks in some states create development challenges. High initial costs compared to short-duration lithium-ion systems limit adoption in price-sensitive applications. Despite these constraints, strong policy continuity drives investment confidence, ensuring sustained market momentum through 2032.
Federal policy frameworks significantly enhance the United States flow battery market prospects through targeted incentives and procurement mandates. The Inflation Reduction Act provides production tax credits under Section 45X for domestically manufactured battery components. These credits effectively subsidize each kilowatt-hour produced, improving project economics substantially for qualifying systems. Additionally, state-level initiatives complement federal support with renewable energy mandates, driving storage procurement requirements.
California, New York, and Texas lead deployment through utility solicitations and market reforms, enabling revenue stacking. Furthermore, the Loan Programs Office closed approximately $5.5 billion in battery-related loans supporting domestic manufacturing expansion. However, political transitions create uncertainty regarding program continuity and funding priorities. Despite potential headwinds, bipartisan support for energy security and manufacturing jobs maintains favorable conditions for flow battery investments.

SEGMENTATION ANALYSIS
The United States flow battery market is segmented into offering, battery type, material, ownership, storage, and application. The ownership segment is further categorized into customer-owned, third-party-owned, and grid/utility-owned.
Third-party-owned models gain significant traction as innovative financing structures reduce capital barriers for customers. Based on our research, this ownership approach allows energy storage developers to retain asset ownership while providing storage-as-a-service arrangements. Utilities and commercial customers benefit from reduced upfront investment requirements and predictable operating expenses.
Energy service companies deploy flow batteries under power purchase agreements spanning 10 to 20 years. These contracts guarantee price stability while transferring performance risk to experienced operators. Consequently, third-party ownership accelerates deployment in markets where customer capital constraints limit direct investment. For instance, data centers increasingly adopt this model to secure reliable backup power without large capital expenditures.
Additionally, third-party ownership enables sophisticated revenue stacking across multiple grid services and markets. Operators optimize battery dispatch for energy arbitrage, frequency regulation, and capacity payments simultaneously. This approach maximizes asset utilization and improves overall project economics significantly.
Moreover, the model attracts institutional investors seeking stable cash flows from energy infrastructure assets. Investment funds and utilities form partnerships to develop large-scale projects under this structure. However, customers must carefully evaluate contract terms, including performance guarantees and maintenance responsibilities. Developers need strong balance sheets and operational expertise to succeed in this competitive segment.
The third-party-owned segment benefits from sophisticated financial engineering and institutional capital availability in the United States markets. According to industry analysis, tax equity investors provide crucial funding, leveraging federal investment tax credits and accelerated depreciation benefits. This financing structure attracts pension funds, insurance companies, and infrastructure funds seeking long-term contracted revenues. Energy-as-a-service providers develop standardized contracts, reducing transaction costs and accelerating deployment timelines.
Moreover, utilities increasingly partner with third-party developers to share development risks while accessing storage capabilities. These arrangements enable rapid capacity additions without straining utility balance sheets or rate bases. However, regulatory treatment of third-party-owned assets varies significantly across state jurisdictions, affecting project structuring decisions. Developers must navigate complex interconnection procedures and market participation rules when optimizing asset dispatch strategies. Despite these complexities, the model's flexibility and capital efficiency position third-party ownership as the fastest-growing segment through 2032.

COMPETITIVE INSIGHTS
Some of the top players operating in the United States flow battery market include ESS Tech Inc, Lockheed Martin Corporation, Stryten Energy, and ViZn Energy Systems.
ESS Tech Inc manufactures long-duration energy storage systems using proprietary iron and saltwater electrolyte technology. Headquartered in Wilsonville, Oregon, the company operates advanced manufacturing facilities producing modular battery systems. ESS specializes in utility-scale and commercial applications requiring 4 to 12-hour discharge durations. The firm's Energy Base product line targets gigawatt-scale deployments for data centers and grid stabilization projects.
Further, the company’s technology features non-toxic materials, unlimited cycling capability, and over 90% domestic content qualification. Trading on the New York Stock Exchange, ESS received $50 million in financing from the Export-Import Bank in 2024. In October 2025, the company secured a 5 MW/50 MWh contract with Salt River Project in Arizona for a long-duration storage demonstration. ESS continues expanding manufacturing capacity to achieve gigawatt-hour annual production, supporting the growing demand for resilient, sustainable energy storage solutions nationwide.

COMPANY PROFILES
1. ESS TECH INC
2. LOCKHEED MARTIN CORPORATION
3. STRYTEN ENERGY
4. VIZN ENERGY SYSTEMS
5. PRIMUS POWER SOLUTIONS
6. INVINITY ENERGY SYSTEMS
7. CELLCUBE INC
8. VRB ENERGY
9. SUMITOMO ELECTRIC INDUSTRIES LTD

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Table of Contents

1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & FORECAST
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.5. MAJOR MARKET FINDINGS
2.5.1. THE UNITED STATES SHOWS STRONG PROJECT PIPELINES SUPPORTED BY FEDERAL AND STATE INCENTIVES
2.5.2. UTILITIES INVEST HEAVILY IN GRID MODERNIZATION, INCLUDING LONG-DURATION STORAGE SOLUTIONS
2.5.3. DOE-FUNDED RESEARCH PROGRAMS CONTINUE TO ACCELERATE TECHNOLOGY COMMERCIALIZATION
2.5.4. PRIVATE SECTOR DEPLOYMENT IS GROWING IN DATA CENTERS, MICROGRIDS, AND RENEWABLE PROJECTS
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. FEDERAL INVESTMENT TAX CREDITS IMPROVE STORAGE PROJECT ECONOMICS
3.1.2. STATE-LEVEL CLEAN ENERGY MANDATES INCREASE STORAGE PROCUREMENT
3.1.3. CORPORATE DEMAND FOR CLEAN ENERGY PLUS STORAGE DRIVES COMMERCIAL ADOPTION
3.1.4. VENTURE CAPITAL INFLOWS SUPPORT DOMESTIC MANUFACTURERS AND DEVELOPERS
3.2. KEY RESTRAINTS
3.2.1. INTERCONNECTION DELAYS AND UNCERTAIN REGULATORY FRAMEWORKS IN SOME STATES
3.2.2. HIGH INITIAL COSTS COMPARED TO SHORT-DURATION LITHIUM-ION SYSTEMS
3.2.3. LIMITED AWARENESS AMONG COMMERCIAL USERS ABOUT LONG-DURATION STORAGE BENEFITS
3.2.4. TECHNICAL CHALLENGES IN SCALING FLOW BATTERIES FOR LARGE GRID PROJECTS
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. INCREASED DEPLOYMENT IN MICROGRIDS AND MILITARY BASES FOR ENERGY RESILIENCE
4.1.2. GROWING COLLABORATION BETWEEN UTILITIES AND STORAGE DEVELOPERS
4.1.3. STRONG POLICY CONTINUITY DRIVES INVESTMENT CONFIDENCE DESPITE POLITICAL CHANGES
4.1.4. R&D FOCUS ON NEW ELECTROLYTE MATERIALS AND HYBRID FLOW SYSTEMS
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.3.1. GROWTH PROSPECT MAPPING FOR UNITED STATES
4.4. MARKET MATURITY ANALYSIS
4.5. MARKET CONCENTRATION ANALYSIS
4.6. VALUE CHAIN ANALYSIS
4.6.1. RAW MATERIAL SUPPLIERS
4.6.2. ELECTROLYTE MANUFACTURERS
4.6.3. MEMBRANE AND STACK PRODUCERS
4.6.4. SYSTEM INTEGRATORS
4.6.5. PROJECT DEVELOPERS
4.6.6. UTILITY AND COMMERCIAL END USERS
4.7. KEY BUYING CRITERIA
4.7.1. COST PER KWH
4.7.2. CYCLE LIFE
4.7.3. SCALABILITY
4.7.4. MAINTENANCE REQUIREMENTS
4.8. REGULATORY FRAMEWORK
5. FLOW BATTERY MARKET BY OFFERING
5.1. ENERGY STORAGE SYSTEM
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. BATTERY
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
5.3. SERVICE
5.3.1. MARKET FORECAST FIGURE
5.3.2. SEGMENT ANALYSIS
6. FLOW BATTERY MARKET BY BATTERY TYPE
6.1. REDOX
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. HYBRID
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
7. FLOW BATTERY MARKET BY MATERIAL
7.1. VANADIUM
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. ZINC-BROMINE
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. IRON
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
7.4. OTHER MATERIALS
7.4.1. MARKET FORECAST FIGURE
7.4.2. SEGMENT ANALYSIS
8. FLOW BATTERY MARKET BY OWNERSHIP
8.1. CUSTOMER-OWNED
8.1.1. MARKET FORECAST FIGURE
8.1.2. SEGMENT ANALYSIS
8.2. THIRD-PARTY-OWNED
8.2.1. MARKET FORECAST FIGURE
8.2.2. SEGMENT ANALYSIS
8.3. GRID/UTILITY-OWNED
8.3.1. MARKET FORECAST FIGURE
8.3.2. SEGMENT ANALYSIS
9. FLOW BATTERY MARKET BY STORAGE
9.1. LARGE-SCALE
9.1.1. MARKET FORECAST FIGURE
9.1.2. SEGMENT ANALYSIS
9.2. SMALL-SCALE
9.2.1. MARKET FORECAST FIGURE
9.2.2. SEGMENT ANALYSIS
10. FLOW BATTERY MARKET BY APPLICATION
10.1. GRID/UTILITY
10.1.1. MARKET FORECAST FIGURE
10.1.2. SEGMENT ANALYSIS
10.2. COMMERCIAL AND INDUSTRIAL
10.2.1. MARKET FORECAST FIGURE
10.2.2. SEGMENT ANALYSIS
10.3. EV CHARGING STATION
10.3.1. MARKET FORECAST FIGURE
10.3.2. SEGMENT ANALYSIS
10.4. OTHER APPLICATIONS
10.4.1. MARKET FORECAST FIGURE
10.4.2. SEGMENT ANALYSIS
11. COMPETITIVE LANDSCAPE
11.1. KEY STRATEGIC DEVELOPMENTS
11.1.1. MERGERS & ACQUISITIONS
11.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
11.1.3. PARTNERSHIPS & AGREEMENTS
11.1.4. BUSINESS EXPANSIONS & DIVESTITURES
11.2. COMPANY PROFILES
11.2.1. ESS TECH INC
11.2.1.1. COMPANY OVERVIEW
11.2.1.2. PRODUCTS LIST
11.2.1.3. STRENGTHS & CHALLENGES
11.2.2. LOCKHEED MARTIN CORPORATION
11.2.2.1. COMPANY OVERVIEW
11.2.2.2. PRODUCTS LIST
11.2.2.3. STRENGTHS & CHALLENGES
11.2.3. STRYTEN ENERGY
11.2.3.1. COMPANY OVERVIEW
11.2.3.2. PRODUCTS LIST
11.2.3.3. STRENGTHS & CHALLENGES
11.2.4. VIZN ENERGY SYSTEMS
11.2.4.1. COMPANY OVERVIEW
11.2.4.2. PRODUCTS LIST
11.2.4.3. STRENGTHS & CHALLENGES
11.2.5. PRIMUS POWER SOLUTIONS
11.2.5.1. COMPANY OVERVIEW
11.2.5.2. PRODUCTS LIST
11.2.5.3. STRENGTHS & CHALLENGES
11.2.6. INVINITY ENERGY SYSTEMS
11.2.6.1. COMPANY OVERVIEW
11.2.6.2. PRODUCTS LIST
11.2.6.3. STRENGTHS & CHALLENGES
11.2.7. CELLCUBE INC
11.2.7.1. COMPANY OVERVIEW
11.2.7.2. PRODUCTS LIST
11.2.7.3. STRENGTHS & CHALLENGES
11.2.8. VRB ENERGY
11.2.8.1. COMPANY OVERVIEW
11.2.8.2. PRODUCTS LIST
11.2.8.3. STRENGTHS & CHALLENGES
11.2.9. SUMITOMO ELECTRIC INDUSTRIES LTD
11.2.9.1. COMPANY OVERVIEW
11.2.9.2. PRODUCTS LIST
11.2.9.3. STRENGTHS & CHALLENGES










LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – FLOW BATTERY
TABLE 2: MARKET BY OFFERING, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 3: MARKET BY OFFERING, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 4: MARKET BY BATTERY TYPE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 5: MARKET BY BATTERY TYPE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 6: MARKET BY MATERIAL, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 7: MARKET BY MATERIAL, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 8: MARKET BY OWNERSHIP, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 9: MARKET BY OWNERSHIP, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 10: MARKET BY STORAGE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 11: MARKET BY STORAGE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 12: MARKET BY APPLICATION, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 13: MARKET BY APPLICATION, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 14: KEY PLAYERS OPERATING IN THE UNITED STATES MARKET
TABLE 15: LIST OF MERGERS & ACQUISITIONS
TABLE 16: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 17: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 18: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: SEGMENT GROWTH POTENTIAL, BY OFFERING, IN 2024
FIGURE 9: ENERGY STORAGE SYSTEM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 10: BATTERY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 11: SERVICE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 12: MARKET GROWTH POTENTIAL, BY BATTERY TYPE, IN 2024
FIGURE 13: REDOX MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 14: HYBRID MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 15: SEGMENT GROWTH POTENTIAL, BY MATERIAL, IN 2024
FIGURE 16: VANADIUM MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 17: ZINC-BROMINE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 18: IRON MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 19: OTHER MATERIALS MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 20: SEGMENT GROWTH POTENTIAL, BY OWNERSHIP, IN 2024
FIGURE 21: CUSTOMER-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 22: THIRD-PARTY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 23: GRID/UTILITY-OWNED MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 24: SEGMENT GROWTH POTENTIAL, BY STORAGE, IN 2024
FIGURE 25: LARGE-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 26: SMALL-SCALE MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 27: SEGMENT GROWTH POTENTIAL, BY APPLICATION, IN 2024
FIGURE 28: GRID/UTILITY MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 29: COMMERCIAL AND INDUSTRIAL MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 30: EV CHARGING STATION MARKET SIZE, 2025-2032 (IN $ MILLION)
FIGURE 31: OTHER APPLICATIONS MARKET SIZE, 2025-2032 (IN $ MILLION)

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List of Tables/Graphs

LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – FLOW BATTERY
TABLE 2: MARKET BY OFFERING, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 3: MARKET BY OFFERING, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 4: MARKET BY BATTERY TYPE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 5: MARKET BY BATTERY TYPE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 6: MARKET BY MATERIAL, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 7: MARKET BY MATERIAL, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 8: MARKET BY OWNERSHIP, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 9: MARKET BY OWNERSHIP, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 10: MARKET BY STORAGE, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 11: MARKET BY STORAGE, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 12: MARKET BY APPLICATION, HISTORICAL YEARS, 2018-2023 (IN $ MILLION)
TABLE 13: MARKET BY APPLICATION, FORECAST YEARS, 2025-2032 (IN $ MILLION)
TABLE 14: KEY PLAYERS OPERATING IN THE UNITED STATES MARKET
TABLE 15: LIST OF MERGERS & ACQUISITIONS
TABLE 16: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 17: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 18: LIST OF BUSINESS EXPANSIONS & DIVESTITURES