Vanadium Redox Battery Market

The vanadium redox battery (VRB) (or Vanadium flow battery) is a type of rechargeable flow battery that employs vanadium ions in different oxidation states to store chemical potential energy. The vanadium redox battery exploits the ability of vanadium to exist in solution in four different oxidation states, and uses this property to make a battery that has just one electro active element instead of two. For several reasons, including their relatively bulky size, most vanadium batteries are currently used for grid energy storage, such as being attached to power plants or electrical grids.

Unlike other RFBs, vanadium redox flow batteries (VRBs) use only one element (vanadium) in both tanks, exploiting vanadium?s ability to exist in several states. By using one element in both tanks, VRBs can overcome cross-contamination degradation, a significant issue with other RFB chemistries that use more than one element. The energy density of VRBs depends on the concentration of vanadium: the higher the concentration, the higher the energy density.

Vanadium Redox Battery Market contains market size and forecasts of Vanadium Redox Battery (VRB) in global, including the following market information:

Global Vanadium Redox Battery (VRB) Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global Vanadium Redox Battery (VRB) Market Sales, 2017-2022, 2023-2028, (MW)

Global top five Vanadium Redox Battery (VRB) companies in 2021 (%)

The global Vanadium Redox Battery (VRB) market was valued at 1258 million in 2021 and is projected to reach US$ 11190 million by 2028, at a CAGR of 36.7% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Carbon Paper Electrode Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Vanadium Redox Battery (VRB) include Sumitomo Electric Industries, Rongke Power, UniEnergy Technologies, redT Energy, Vionx Energy, Big Pawer, Australian Vanadium, Golden Energy Fuel Cell and H2, Inc.. etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Vanadium Redox Battery (VRB) manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Vanadium Redox Battery (VRB) Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (MW)

Global Vanadium Redox Battery (VRB) Market Segment Percentages, by Type, 2021 (%)

Carbon Paper Electrode

Graphite Felt Electrode

Global Vanadium Redox Battery (VRB) Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (MW)

Global Vanadium Redox Battery (VRB) Market Segment Percentages, by Application, 2021 (%)

Large-Scale Energy Storage

Uninterruptible Power Supply

Others

Global Vanadium Redox Battery (VRB) Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (MW)

Global Vanadium Redox Battery (VRB) Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Vanadium Redox Battery (VRB) revenues in global market, 2017-2022 (Estimated), ($ millions)

Key companies Vanadium Redox Battery (VRB) revenues share in global market, 2021 (%)

Key companies Vanadium Redox Battery (VRB) sales in global market, 2017-2022 (Estimated), (MW)

Key companies Vanadium Redox Battery (VRB) sales share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

Sumitomo Electric Industries

Rongke Power

UniEnergy Technologies

redT Energy

Vionx Energy

Big Pawer

Australian Vanadium

Golden Energy Fuel Cell

H2, Inc.