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

• Global Vanadium Redox Flow Battery (VRB) Market Revenue, 2017-2022, 2023-2028, ($ millions)
• Global Vanadium Redox Flow Battery (VRB) Market Sales, 2017-2022, 2023-2028, (MW)
• Global top five Vanadium Redox Flow Battery (VRB) companies in 2021 (%)

The global Vanadium Redox Flow Battery (VRB) market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % 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 Flow 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 Flow 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 Flow Battery (VRB) Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (MW)

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

• Carbon Paper Electrode
• Graphite Felt Electrode

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

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

• Large-Scale Energy Storage
• Uninterruptible Power Supply
• Others

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

Global Vanadium Redox Flow 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 Flow Battery (VRB) revenues in global market, 2017-2022 (Estimated), ($ millions)
• Key companies Vanadium Redox Flow Battery (VRB) revenues share in global market, 2021 (%)
• Key companies Vanadium Redox Flow Battery (VRB) sales in global market, 2017-2022 (Estimated), (MW)
• Key companies Vanadium Redox Flow 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.