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Vanadium Redox Flow Battery (VRB)-Global Market Insights and Sales Trends 2024

Vanadium Redox Flow Battery (VRB)-Global Market Insights and Sales Trends 2024

Publishing Date : Nov, 2023

License Type :
 

Report Code : 1828461

No of Pages : 105

Synopsis
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.
The global Vanadium Redox Flow Battery (VRB) market size is expected to reach US$ 350 million by 2029, growing at a CAGR of 8.5% from 2023 to 2029. The market is mainly driven by the significant applications of Vanadium Redox Flow Battery (VRB) in various end use industries. The expanding demands from the Utility Facilities, Renewable Energy and Others,, are propelling Vanadium Redox Flow Battery (VRB) market. Carbon Paper Electrode, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Graphite Felt Electrode segment is estimated at % CAGR for the next seven-year period.
Rongke Power, Sumitomo Electric Industries and VRB ENERGY are the main producers of vanadium REDOX batteries (VRBs). Rongke Power is the world's first, accounting for about 40% of the market, and the top 3 accounted for about 70%. China is the largest producing region, accounting for about 60% of the world's total, followed by Japan at about 20%.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Vanadium Redox Flow Battery (VRB), with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Vanadium Redox Flow Battery (VRB) market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Vanadium Redox Flow Battery (VRB) market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Vanadium Redox Flow Battery (VRB) sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Vanadium Redox Flow Battery (VRB) covered in this report include Dalian Rongke Power, Primus Power, Sumitomo Electric, VRB ENERGY, Largo Clean Energy, Invinity Energy Systems, Big Pawer, H2, Inc. and CellCube Energy Storage, etc.
The global Vanadium Redox Flow Battery (VRB) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Dalian Rongke Power
Primus Power
Sumitomo Electric
VRB ENERGY
Largo Clean Energy
Invinity Energy Systems
Big Pawer
H2, Inc.
CellCube Energy Storage
Shanghai Electric
Global Vanadium Redox Flow Battery (VRB) market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Vanadium Redox Flow Battery (VRB) market, Segment by Type:
Carbon Paper Electrode
Graphite Felt Electrode
Global Vanadium Redox Flow Battery (VRB) market, by Application
Utility Facilities
Renewable Energy
Others
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Vanadium Redox Flow Battery (VRB) manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Vanadium Redox Flow Battery (VRB) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index
1 Vanadium Redox Flow Battery (VRB) Market Overview
1.1 Vanadium Redox Flow Battery (VRB) Product Overview
1.2 Vanadium Redox Flow Battery (VRB) Market Segment by Type
1.2.1 Carbon Paper Electrode
1.2.2 Graphite Felt Electrode
1.3 Global Vanadium Redox Flow Battery (VRB) Market Size by Type
1.3.1 Global Vanadium Redox Flow Battery (VRB) Market Size Overview by Type (2018-2029)
1.3.2 Global Vanadium Redox Flow Battery (VRB) Historic Market Size Review by Type (2018-2023)
1.3.3 Global Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Vanadium Redox Flow Battery (VRB) Sales Breakdown by Type (2018-2023)
1.4.2 Europe Vanadium Redox Flow Battery (VRB) Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Vanadium Redox Flow Battery (VRB) Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales Breakdown by Type (2018-2023)
2 Global Vanadium Redox Flow Battery (VRB) Market Competition by Company
2.1 Global Top Players by Vanadium Redox Flow Battery (VRB) Sales (2018-2023)
2.2 Global Top Players by Vanadium Redox Flow Battery (VRB) Revenue (2018-2023)
2.3 Global Top Players by Vanadium Redox Flow Battery (VRB) Price (2018-2023)
2.4 Global Top Manufacturers Vanadium Redox Flow Battery (VRB) Manufacturing Base Distribution, Sales Area, Product Type
2.5 Vanadium Redox Flow Battery (VRB) Market Competitive Situation and Trends
2.5.1 Vanadium Redox Flow Battery (VRB) Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Vanadium Redox Flow Battery (VRB) Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Vanadium Redox Flow Battery (VRB) as of 2022)
2.7 Date of Key Manufacturers Enter into Vanadium Redox Flow Battery (VRB) Market
2.8 Key Manufacturers Vanadium Redox Flow Battery (VRB) Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Vanadium Redox Flow Battery (VRB) Status and Outlook by Region
3.1 Global Vanadium Redox Flow Battery (VRB) Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Vanadium Redox Flow Battery (VRB) Historic Market Size by Region
3.2.1 Global Vanadium Redox Flow Battery (VRB) Sales in Volume by Region (2018-2023)
3.2.2 Global Vanadium Redox Flow Battery (VRB) Sales in Value by Region (2018-2023)
3.2.3 Global Vanadium Redox Flow Battery (VRB) Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Region
3.3.1 Global Vanadium Redox Flow Battery (VRB) Sales in Volume by Region (2024-2029)
3.3.2 Global Vanadium Redox Flow Battery (VRB) Sales in Value by Region (2024-2029)
3.3.3 Global Vanadium Redox Flow Battery (VRB) Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Vanadium Redox Flow Battery (VRB) by Application
4.1 Vanadium Redox Flow Battery (VRB) Market Segment by Application
4.1.1 Utility Facilities
4.1.2 Renewable Energy
4.1.3 Others
4.2 Global Vanadium Redox Flow Battery (VRB) Market Size by Application
4.2.1 Global Vanadium Redox Flow Battery (VRB) Market Size Overview by Application (2018-2029)
4.2.2 Global Vanadium Redox Flow Battery (VRB) Historic Market Size Review by Application (2018-2023)
4.2.3 Global Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Vanadium Redox Flow Battery (VRB) Sales Breakdown by Application (2018-2023)
4.3.2 Europe Vanadium Redox Flow Battery (VRB) Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Vanadium Redox Flow Battery (VRB) Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales Breakdown by Application (2018-2023)
5 North America Vanadium Redox Flow Battery (VRB) by Country
5.1 North America Vanadium Redox Flow Battery (VRB) Historic Market Size by Country
5.1.1 North America Vanadium Redox Flow Battery (VRB) Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2018-2023)
5.1.3 North America Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2018-2023)
5.2 North America Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Country
5.2.1 North America Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2024-2029)
5.2.2 North America Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2024-2029)
6 Europe Vanadium Redox Flow Battery (VRB) by Country
6.1 Europe Vanadium Redox Flow Battery (VRB) Historic Market Size by Country
6.1.1 Europe Vanadium Redox Flow Battery (VRB) Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2018-2023)
6.1.3 Europe Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2018-2023)
6.2 Europe Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Country
6.2.1 Europe Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2024-2029)
6.2.2 Europe Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2024-2029)
7 Asia-Pacific Vanadium Redox Flow Battery (VRB) by Region
7.1 Asia-Pacific Vanadium Redox Flow Battery (VRB) Historic Market Size by Region
7.1.1 Asia-Pacific Vanadium Redox Flow Battery (VRB) Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Region
7.2.1 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Vanadium Redox Flow Battery (VRB) Sales in Value by Region (2024-2029)
8 Latin America Vanadium Redox Flow Battery (VRB) by Country
8.1 Latin America Vanadium Redox Flow Battery (VRB) Historic Market Size by Country
8.1.1 Latin America Vanadium Redox Flow Battery (VRB) Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2018-2023)
8.1.3 Latin America Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2018-2023)
8.2 Latin America Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Country
8.2.1 Latin America Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2024-2029)
8.2.2 Latin America Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2024-2029)
9 Middle East and Africa Vanadium Redox Flow Battery (VRB) by Country
9.1 Middle East and Africa Vanadium Redox Flow Battery (VRB) Historic Market Size by Country
9.1.1 Middle East and Africa Vanadium Redox Flow Battery (VRB) Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Vanadium Redox Flow Battery (VRB) Forecasted Market Size by Country
9.2.1 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Vanadium Redox Flow Battery (VRB) Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Dalian Rongke Power
10.1.1 Dalian Rongke Power Company Information
10.1.2 Dalian Rongke Power Introduction and Business Overview
10.1.3 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Products Offered
10.1.5 Dalian Rongke Power Recent Development
10.2 Primus Power
10.2.1 Primus Power Company Information
10.2.2 Primus Power Introduction and Business Overview
10.2.3 Primus Power Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Primus Power Vanadium Redox Flow Battery (VRB) Products Offered
10.2.5 Primus Power Recent Development
10.3 Sumitomo Electric
10.3.1 Sumitomo Electric Company Information
10.3.2 Sumitomo Electric Introduction and Business Overview
10.3.3 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Products Offered
10.3.5 Sumitomo Electric Recent Development
10.4 VRB ENERGY
10.4.1 VRB ENERGY Company Information
10.4.2 VRB ENERGY Introduction and Business Overview
10.4.3 VRB ENERGY Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.4.4 VRB ENERGY Vanadium Redox Flow Battery (VRB) Products Offered
10.4.5 VRB ENERGY Recent Development
10.5 Largo Clean Energy
10.5.1 Largo Clean Energy Company Information
10.5.2 Largo Clean Energy Introduction and Business Overview
10.5.3 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Products Offered
10.5.5 Largo Clean Energy Recent Development
10.6 Invinity Energy Systems
10.6.1 Invinity Energy Systems Company Information
10.6.2 Invinity Energy Systems Introduction and Business Overview
10.6.3 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Products Offered
10.6.5 Invinity Energy Systems Recent Development
10.7 Big Pawer
10.7.1 Big Pawer Company Information
10.7.2 Big Pawer Introduction and Business Overview
10.7.3 Big Pawer Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Big Pawer Vanadium Redox Flow Battery (VRB) Products Offered
10.7.5 Big Pawer Recent Development
10.8 H2, Inc.
10.8.1 H2, Inc. Company Information
10.8.2 H2, Inc. Introduction and Business Overview
10.8.3 H2, Inc. Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.8.4 H2, Inc. Vanadium Redox Flow Battery (VRB) Products Offered
10.8.5 H2, Inc. Recent Development
10.9 CellCube Energy Storage
10.9.1 CellCube Energy Storage Company Information
10.9.2 CellCube Energy Storage Introduction and Business Overview
10.9.3 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.9.4 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Products Offered
10.9.5 CellCube Energy Storage Recent Development
10.10 Shanghai Electric
10.10.1 Shanghai Electric Company Information
10.10.2 Shanghai Electric Introduction and Business Overview
10.10.3 Shanghai Electric Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Shanghai Electric Vanadium Redox Flow Battery (VRB) Products Offered
10.10.5 Shanghai Electric Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Vanadium Redox Flow Battery (VRB) Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Vanadium Redox Flow Battery (VRB) Industrial Chain Analysis
11.4 Vanadium Redox Flow Battery (VRB) Market Dynamics
11.4.1 Vanadium Redox Flow Battery (VRB) Industry Trends
11.4.2 Vanadium Redox Flow Battery (VRB) Market Drivers
11.4.3 Vanadium Redox Flow Battery (VRB) Market Challenges
11.4.4 Vanadium Redox Flow Battery (VRB) Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Vanadium Redox Flow Battery (VRB) Distributors
12.3 Vanadium Redox Flow Battery (VRB) Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer

Published By : QY Research

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