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 vanadiums 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. Rongke Power, Sumitomo Electric Industries and Unienergy Technologies 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%. Market Analysis and Insights: Global Vanadium Redox Battery (VRB) Market In 2020, the global Vanadium Redox Battery (VRB) market size was US$ 884 million and it is expected to reach US$ 8555.2 million by the end of 2027, with a CAGR of 38.3% during 2021-2027. Global Vanadium Redox Battery (VRB) Scope and Market Size Vanadium Redox Battery (VRB) market is segmented by region, by country, company, type, application and by sales channels. Players, stakeholders, and other participants in the global Vanadium Redox Battery (VRB) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027. Segment by Type, the Vanadium Redox Battery (VRB) market is segmented into Carbon Paper Electrode Graphite Felt Electrode Segment by Application, the Vanadium Redox Battery (VRB) market is segmented into Large-Scale Energy Storage Uninterruptible Power Supply Others Regional and Country-level Analysis: North America United States Canada Asia-Pacific China Japan South Korea India Southeast Asia Australia Rest of Asia-Pacific Europe Germany France U.K. Italy Russia Nordic Countries Rest of Europe Latin America Mexico Brazil Rest of Latin America Middle East & Africa Turkey Saudi Arabia UAE Rest of MEA Competitive Landscape and Vanadium Redox Battery (VRB) Market Share Analysis Vanadium Redox Battery (VRB) market competitive landscape provides details and data information by companies. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on sale and revenue by players for the period 2016-2021. Details included are company description, major business, Vanadium Redox Battery (VRB) product introduction, recent developments, Vanadium Redox Battery (VRB) sales by region, type, application and by sales channel. The major companies include: Sumitomo Electric Industries Rongke Power UniEnergy Technologies redT Energy Vionx Energy Big Pawer Australian Vanadium Golden Energy Fuel Cell H2, Inc.
1 Study Coverage 1.1 Vanadium Redox Battery (VRB) Product Introduction 1.2 Market by Type 1.2.1 Global Vanadium Redox Battery (VRB) Market Size Growth Rate by Type 1.2.2 Carbon Paper Electrode 1.2.3 Graphite Felt Electrode 1.3 Market by Application 1.3.1 Global Vanadium Redox Battery (VRB) Market Size Growth Rate by Application 1.3.2 Large-Scale
