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.