The global vanadium redox flow battery (VRB) market is expected to grow at a CAGR of around 12.5% during the forecast period, from 2021 to 2030. The growth of this market can be attributed to the increasing demand for energy storage solutions and uninterruptible power supply systems in various industries such as telecom, healthcare, and transportation. The VRB market is also witnessing an increase in demand for renewable energy sources due to environmental concerns such as climate change and air pollution. The carbon paper electrode segment accounted for the largest share of the global VRB market in 2018 owing to its low cost and high efficiency. The graphite felt electrode segment is expected to witness significant growth during the forecast period owing to its high efficiency and low cost compared with other types of electrodes used in VRBs.
- VRBs are a new type of energy storage device that can store and release electrical power in a way that is similar to the way natural gas is stored and released by natural gas pipelines.
- VRBs are an emerging technology with the potential to provide large-scale, low-cost, long-duration energy storage for renewable power sources such as wind and solar.
- The cost of electricity from wind or solar power plants is typically much lower than the cost of electricity from coal or natural gas plants when the sun isn't shining or the wind isn't blowing, but these sources can't be turned on and off quickly enough to follow demand changes throughout the day without using expensive "peaker" plants that run only when needed.
- VRBs have been shown to be able to store up excess renewable energy during periods of low demand (such as at night) so it can be used later when demand peaks (such as during hot summer afternoons).
- The first commercial application for VRB technology was announced in December 2016 by Primus Power, which plans to deploy a 1 MW/2 MWh battery system at Southern California Edison's Mira Loma substation near Los Angeles.
Industry Growth Insights published a new data on “Vanadium Redox Flow Battery (VRB) Market”. The research report is titled “Vanadium Redox Flow Battery (VRB) Market research by Types (Carbon Paper Electrode, Graphite Felt Electrode), By Applications (Large-Scale Energy Storage, Uninterruptible Power Supply, Others), By Players/Companies Sumitomo Electric Industries, Rongke Power, UniEnergy Technologies, redT Energy, Vionx Energy, Big Pawer, Australian Vanadium, Golden Energy Fuel Cell, H2, Inc.”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vanadium Redox Flow Battery (VRB) Market Research Report
By Type
Carbon Paper Electrode, Graphite Felt Electrode
By Application
Large-Scale Energy Storage, Uninterruptible Power Supply, Others
By Companies
Sumitomo Electric Industries, Rongke Power, UniEnergy Technologies, redT Energy, Vionx Energy, Big Pawer, Australian Vanadium, Golden Energy Fuel Cell, H2, Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Vanadium Redox Flow Battery (VRB) Market Report Segments:
The global Vanadium Redox Flow Battery (VRB) market is segmented on the basis of:
Types
Carbon Paper Electrode, Graphite Felt Electrode
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large-Scale Energy Storage, Uninterruptible Power Supply, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sumitomo Electric Industries
- Rongke Power
- UniEnergy Technologies
- redT Energy
- Vionx Energy
- Big Pawer
- Australian Vanadium
- Golden Energy Fuel Cell
- H2, Inc.
Highlights of The Vanadium Redox Flow Battery (VRB) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Carbon Paper Electrode
- Graphite Felt Electrode
- By Application:
- Large-Scale Energy Storage
- Uninterruptible Power Supply
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vanadium Redox Flow Battery (VRB) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A vanadium redox flow battery (VRB) is a type of energy storage device that uses vanadium to store electrical energy. When electricity is needed, the battery converts stored energy into usable electricity by oxidizing vanadium and reducing oxygen.
Some of the major players in the vanadium redox flow battery (vrb) market are Sumitomo Electric Industries, Rongke Power, UniEnergy Technologies, redT Energy, Vionx Energy, Big Pawer, Australian Vanadium, Golden Energy Fuel Cell, H2, Inc..
The vanadium redox flow battery (vrb) market is expected to register a CAGR of 12.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vanadium Redox Flow Battery (VRB) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vanadium Redox Flow Battery (VRB) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vanadium Redox Flow Battery (VRB) Market - Supply Chain
4.5. Global Vanadium Redox Flow Battery (VRB) Market Forecast
4.5.1. Vanadium Redox Flow Battery (VRB) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vanadium Redox Flow Battery (VRB) Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vanadium Redox Flow Battery (VRB) Market Absolute $ Opportunity
5. Global Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
5.3.1. Carbon Paper Electrode
5.3.2. Graphite Felt Electrode
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
6.3.1. Large-Scale Energy Storage
6.3.2. Uninterruptible Power Supply
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vanadium Redox Flow Battery (VRB) Demand Share Forecast, 2019-2026
9. North America Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
9.4.1. Large-Scale Energy Storage
9.4.2. Uninterruptible Power Supply
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
9.7.1. Carbon Paper Electrode
9.7.2. Graphite Felt Electrode
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vanadium Redox Flow Battery (VRB) Demand Share Forecast, 2019-2026
10. Latin America Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
10.4.1. Large-Scale Energy Storage
10.4.2. Uninterruptible Power Supply
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
10.7.1. Carbon Paper Electrode
10.7.2. Graphite Felt Electrode
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vanadium Redox Flow Battery (VRB) Demand Share Forecast, 2019-2026
11. Europe Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
11.4.1. Large-Scale Energy Storage
11.4.2. Uninterruptible Power Supply
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
11.7.1. Carbon Paper Electrode
11.7.2. Graphite Felt Electrode
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vanadium Redox Flow Battery (VRB) Demand Share, 2019-2026
12. Asia Pacific Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
12.4.1. Large-Scale Energy Storage
12.4.2. Uninterruptible Power Supply
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
12.7.1. Carbon Paper Electrode
12.7.2. Graphite Felt Electrode
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vanadium Redox Flow Battery (VRB) Demand Share, 2019-2026
13. Middle East & Africa Vanadium Redox Flow Battery (VRB) Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Application
13.4.1. Large-Scale Energy Storage
13.4.2. Uninterruptible Power Supply
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vanadium Redox Flow Battery (VRB) Market Size and Volume Forecast by Type
13.7.1. Carbon Paper Electrode
13.7.2. Graphite Felt Electrode
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vanadium Redox Flow Battery (VRB) Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vanadium Redox Flow Battery (VRB) Market: Market Share Analysis
14.2. Vanadium Redox Flow Battery (VRB) Distributors and Customers
14.3. Vanadium Redox Flow Battery (VRB) Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sumitomo Electric Industries
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Rongke Power
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. UniEnergy Technologies
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. redT Energy
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Vionx Energy
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Big Pawer
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Australian Vanadium
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Golden Energy Fuel Cell
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. H2, Inc.
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook