Global EGS and Redox Flow Battery Markets Projected to Surge by 2035

The enhanced geothermal systems (EGS) market is forecast to more than double, rising from $6.2 billion in 2025 to $12.9 billion by 2035, reflecting a 7.8% compound annual growth rate. Growth is driven by rising renewable‑energy demand, advances in drilling and stimulation technologies, and supportive policies in North America, Europe and the Asia‑Pacific. Key players include AltaRock Energy, Fuji Electric, Mitsubishi Heavy Industries, Enel, Toshiba and other major firms.

The global redox flow‑battery market is expected to expand rapidly, increasing from $1.2 billion in 2025 to $10.4 billion in 2035, a 23.6% CAGR. The surge is linked to the need for large‑scale energy storage to balance renewable power on grids, longer cycle life, scalability and recent technical improvements in vanadium, zinc‑bromine and organic chemistries. Regional growth is led by China, Japan and South Korea in the Asia‑Pacific, with notable activity in North America and Europe. Major manufacturers include ESS Inc., RedT Energy, ViZn Energy Systems, Rongke Power and others.

Both forecasts underline the expanding role of clean‑energy technologies in meeting decarbonisation targets and the investment opportunities they present for industry stakeholders.