Global Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) Market Insights, Forecast to 2025

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 average price of Vanadium Redox Battery (VRB) is in the decreasing trend, from 4505 USD/KW in 2012 to 1916 USD/KW in 2016. With the situation of global economy, prices will be in decreasing trend in the following five years.
The classification of Vanadium Redox Battery (VRB) includes Carbon Paper Electrode and Graphite Felt Electrode, and the proportion of Graphite Felt Electrode in 2016 is about 55%, and the proportion is in increasing trend from 2012 to 2016.
Vanadium Redox Battery (VRB) is widely used for Large-Scale Energy Storage, Uninterruptible Power Supply and other field. The most proportion of Vanadium Redox Battery (VRB) is Large-Scale Energy Storage, and the proportion in 2016 is 52%.
The Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) market was valued at 320 Million US$ in 2018 and is projected to reach 4250 Million US$ by 2025, at a CAGR of 38.3% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries).

This report presents the worldwide Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

The following manufacturers are covered in this report:
Sumitomo Electric Industries
Rongke Power
UniEnergy Technologies
redT Energy
Vionx Energy
Big Pawer
Australian Vanadium
Golden Energy Fuel Cell
H2, Inc.

Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) Breakdown Data by Type
Carbon Paper Electrode
Graphite Felt Electrode
Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) Breakdown Data by Application
Large-Scale Energy Storage
Uninterruptible Power Supply
Others

Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) Production by Region
United States
Europe
China
Japan
Other Regions

Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) Consumption by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa

The study objectives are:
To analyze and research the global Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) status and future forecast，involving, production, revenue, consumption, historical and forecast.
To present the key Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) manufacturers, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

In this study, the years considered to estimate the market size of Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) :
History Year: 2014 - 2018
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2019 - 2025

This report includes the estimation of market size for value (million USD) and volume (MW). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Vanadium Redox Battery (VRB) (All-Vanadium Redox Flow Batteries) market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.