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 is projected to reach US$ 350 million in 2029, increasing from US$ 196.8 million in 2022, with the CAGR of 8.5% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Vanadium Redox Flow Battery (VRB) market research.
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 Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Vanadium Redox Flow Battery (VRB) market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Dalian Rongke Power
Primus Power
Sumitomo Electric
VRB ENERGY
Largo Clean Energy
Invinity Energy Systems
Big Pawer
H2, Inc.
CellCube Energy Storage
Shanghai Electric
Segment by Type
Carbon Paper Electrode
Graphite Felt Electrode
Segment by Application
Utility Facilities
Renewable Energy
Others
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
The Vanadium Redox Flow Battery (VRB) report covers below items:
Chapter 1: Product Basic Information (Definition, type and application)
Chapter 2: Manufacturers’ Competition Patterns
Chapter 3: Production Region Distribution and Analysis
Chapter 4: Country Level Sales Analysis
Chapter 5: Product Type Analysis
Chapter 6: Product Application Analysis
Chapter 7: Manufacturers’ Outline
Chapter 8: Industry Chain, Âé¶¹Ô´´ Channel and Customer Analysis
Chapter 9: Âé¶¹Ô´´ Opportunities and Challenges
Chapter 10: Âé¶¹Ô´´ Conclusions
Chapter 11: Research Methodology and Data Source
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1 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Overview
1.1 Product Definition
1.2 Vanadium Redox Flow Battery (VRB) Segment by Type
1.2.1 Global Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Value Growth Rate Analysis by Type 2022 VS 2029
1.2.2 Carbon Paper Electrode
1.2.3 Graphite Felt Electrode
1.3 Vanadium Redox Flow Battery (VRB) Segment by Application
1.3.1 Global Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Value Growth Rate Analysis by Application: 2022 VS 2029
1.3.2 Utility Facilities
1.3.3 Renewable Energy
1.3.4 Others
1.4 Global Âé¶¹Ô´´ Growth Prospects
1.4.1 Global Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts (2018-2029)
1.4.2 Global Vanadium Redox Flow Battery (VRB) Production Capacity Estimates and Forecasts (2018-2029)
1.4.3 Global Vanadium Redox Flow Battery (VRB) Production Estimates and Forecasts (2018-2029)
1.4.4 Global Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Average Price Estimates and Forecasts (2018-2029)
1.5 Assumptions and Limitations
2 Âé¶¹Ô´´ Competition by Manufacturers
2.1 Global Vanadium Redox Flow Battery (VRB) Production Âé¶¹Ô´´ Share by Manufacturers (2018-2023)
2.2 Global Vanadium Redox Flow Battery (VRB) Production Value Âé¶¹Ô´´ Share by Manufacturers (2018-2023)
2.3 Global Key Players of Vanadium Redox Flow Battery (VRB), Industry Ranking, 2021 VS 2022 VS 2023
2.4 Global Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Vanadium Redox Flow Battery (VRB) Average Price by Manufacturers (2018-2023)
2.6 Global Key Manufacturers of Vanadium Redox Flow Battery (VRB), Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Vanadium Redox Flow Battery (VRB), Product Offered and Application
2.8 Global Key Manufacturers of Vanadium Redox Flow Battery (VRB), Date of Enter into This Industry
2.9 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Competitive Situation and Trends
2.9.1 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Concentration Rate
2.9.2 Global 5 and 10 Largest Vanadium Redox Flow Battery (VRB) Players Âé¶¹Ô´´ Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Vanadium Redox Flow Battery (VRB) Production by Region
3.1 Global Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.2 Global Vanadium Redox Flow Battery (VRB) Production Value by Region (2018-2029)
3.2.1 Global Vanadium Redox Flow Battery (VRB) Production Value Âé¶¹Ô´´ Share by Region (2018-2023)
3.2.2 Global Forecasted Production Value of Vanadium Redox Flow Battery (VRB) by Region (2024-2029)
3.3 Global Vanadium Redox Flow Battery (VRB) Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.4 Global Vanadium Redox Flow Battery (VRB) Production by Region (2018-2029)
3.4.1 Global Vanadium Redox Flow Battery (VRB) Production Âé¶¹Ô´´ Share by Region (2018-2023)
3.4.2 Global Forecasted Production of Vanadium Redox Flow Battery (VRB) by Region (2024-2029)
3.5 Global Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Price Analysis by Region (2018-2023)
3.6 Global Vanadium Redox Flow Battery (VRB) Production and Value, Year-over-Year Growth
3.6.1 North America Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts (2018-2029)
3.6.2 Europe Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts (2018-2029)
3.6.3 China Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts (2018-2029)
3.6.4 Japan Vanadium Redox Flow Battery (VRB) Production Value Estimates and Forecasts (2018-2029)
4 Vanadium Redox Flow Battery (VRB) Consumption by Region
4.1 Global Vanadium Redox Flow Battery (VRB) Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
4.2 Global Vanadium Redox Flow Battery (VRB) Consumption by Region (2018-2029)
4.2.1 Global Vanadium Redox Flow Battery (VRB) Consumption by Region (2018-2023)
4.2.2 Global Vanadium Redox Flow Battery (VRB) Forecasted Consumption by Region (2024-2029)
4.3 North America
4.3.1 North America Vanadium Redox Flow Battery (VRB) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.3.2 North America Vanadium Redox Flow Battery (VRB) Consumption by Country (2018-2029)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Vanadium Redox Flow Battery (VRB) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.4.2 Europe Vanadium Redox Flow Battery (VRB) Consumption by Country (2018-2029)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Vanadium Redox Flow Battery (VRB) Consumption Growth Rate by Region: 2018 VS 2022 VS 2029
4.5.2 Asia Pacific Vanadium Redox Flow Battery (VRB) Consumption by Region (2018-2029)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Vanadium Redox Flow Battery (VRB) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.6.2 Latin America, Middle East & Africa Vanadium Redox Flow Battery (VRB) Consumption by Country (2018-2029)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Vanadium Redox Flow Battery (VRB) Production by Type (2018-2029)
5.1.1 Global Vanadium Redox Flow Battery (VRB) Production by Type (2018-2023)
5.1.2 Global Vanadium Redox Flow Battery (VRB) Production by Type (2024-2029)
5.1.3 Global Vanadium Redox Flow Battery (VRB) Production Âé¶¹Ô´´ Share by Type (2018-2029)
5.2 Global Vanadium Redox Flow Battery (VRB) Production Value by Type (2018-2029)
5.2.1 Global Vanadium Redox Flow Battery (VRB) Production Value by Type (2018-2023)
5.2.2 Global Vanadium Redox Flow Battery (VRB) Production Value by Type (2024-2029)
5.2.3 Global Vanadium Redox Flow Battery (VRB) Production Value Âé¶¹Ô´´ Share by Type (2018-2029)
5.3 Global Vanadium Redox Flow Battery (VRB) Price by Type (2018-2029)
6 Segment by Application
6.1 Global Vanadium Redox Flow Battery (VRB) Production by Application (2018-2029)
6.1.1 Global Vanadium Redox Flow Battery (VRB) Production by Application (2018-2023)
6.1.2 Global Vanadium Redox Flow Battery (VRB) Production by Application (2024-2029)
6.1.3 Global Vanadium Redox Flow Battery (VRB) Production Âé¶¹Ô´´ Share by Application (2018-2029)
6.2 Global Vanadium Redox Flow Battery (VRB) Production Value by Application (2018-2029)
6.2.1 Global Vanadium Redox Flow Battery (VRB) Production Value by Application (2018-2023)
6.2.2 Global Vanadium Redox Flow Battery (VRB) Production Value by Application (2024-2029)
6.2.3 Global Vanadium Redox Flow Battery (VRB) Production Value Âé¶¹Ô´´ Share by Application (2018-2029)
6.3 Global Vanadium Redox Flow Battery (VRB) Price by Application (2018-2029)
7 Key Companies Profiled
7.1 Dalian Rongke Power
7.1.1 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Corporation Information
7.1.2 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Product Portfolio
7.1.3 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.1.4 Dalian Rongke Power Main Business and Âé¶¹Ô´´s Served
7.1.5 Dalian Rongke Power Recent Developments/Updates
7.2 Primus Power
7.2.1 Primus Power Vanadium Redox Flow Battery (VRB) Corporation Information
7.2.2 Primus Power Vanadium Redox Flow Battery (VRB) Product Portfolio
7.2.3 Primus Power Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.2.4 Primus Power Main Business and Âé¶¹Ô´´s Served
7.2.5 Primus Power Recent Developments/Updates
7.3 Sumitomo Electric
7.3.1 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Corporation Information
7.3.2 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Product Portfolio
7.3.3 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.3.4 Sumitomo Electric Main Business and Âé¶¹Ô´´s Served
7.3.5 Sumitomo Electric Recent Developments/Updates
7.4 VRB ENERGY
7.4.1 VRB ENERGY Vanadium Redox Flow Battery (VRB) Corporation Information
7.4.2 VRB ENERGY Vanadium Redox Flow Battery (VRB) Product Portfolio
7.4.3 VRB ENERGY Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.4.4 VRB ENERGY Main Business and Âé¶¹Ô´´s Served
7.4.5 VRB ENERGY Recent Developments/Updates
7.5 Largo Clean Energy
7.5.1 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Corporation Information
7.5.2 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Product Portfolio
7.5.3 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.5.4 Largo Clean Energy Main Business and Âé¶¹Ô´´s Served
7.5.5 Largo Clean Energy Recent Developments/Updates
7.6 Invinity Energy Systems
7.6.1 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Corporation Information
7.6.2 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Product Portfolio
7.6.3 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.6.4 Invinity Energy Systems Main Business and Âé¶¹Ô´´s Served
7.6.5 Invinity Energy Systems Recent Developments/Updates
7.7 Big Pawer
7.7.1 Big Pawer Vanadium Redox Flow Battery (VRB) Corporation Information
7.7.2 Big Pawer Vanadium Redox Flow Battery (VRB) Product Portfolio
7.7.3 Big Pawer Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.7.4 Big Pawer Main Business and Âé¶¹Ô´´s Served
7.7.5 Big Pawer Recent Developments/Updates
7.8 H2, Inc.
7.8.1 H2, Inc. Vanadium Redox Flow Battery (VRB) Corporation Information
7.8.2 H2, Inc. Vanadium Redox Flow Battery (VRB) Product Portfolio
7.8.3 H2, Inc. Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.8.4 H2, Inc. Main Business and Âé¶¹Ô´´s Served
7.7.5 H2, Inc. Recent Developments/Updates
7.9 CellCube Energy Storage
7.9.1 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Corporation Information
7.9.2 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Product Portfolio
7.9.3 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.9.4 CellCube Energy Storage Main Business and Âé¶¹Ô´´s Served
7.9.5 CellCube Energy Storage Recent Developments/Updates
7.10 Shanghai Electric
7.10.1 Shanghai Electric Vanadium Redox Flow Battery (VRB) Corporation Information
7.10.2 Shanghai Electric Vanadium Redox Flow Battery (VRB) Product Portfolio
7.10.3 Shanghai Electric Vanadium Redox Flow Battery (VRB) Production, Value, Price and Gross Margin (2018-2023)
7.10.4 Shanghai Electric Main Business and Âé¶¹Ô´´s Served
7.10.5 Shanghai Electric Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Vanadium Redox Flow Battery (VRB) Industry Chain Analysis
8.2 Vanadium Redox Flow Battery (VRB) Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Vanadium Redox Flow Battery (VRB) Production Mode & Process
8.4 Vanadium Redox Flow Battery (VRB) Sales and Âé¶¹Ô´´ing
8.4.1 Vanadium Redox Flow Battery (VRB) Sales Channels
8.4.2 Vanadium Redox Flow Battery (VRB) Distributors
8.5 Vanadium Redox Flow Battery (VRB) Customers
9 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Dynamics
9.1 Vanadium Redox Flow Battery (VRB) Industry Trends
9.2 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Drivers
9.3 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Challenges
9.4 Vanadium Redox Flow Battery (VRB) Âé¶¹Ô´´ Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Âé¶¹Ô´´ Size Estimation
11.1.3 Âé¶¹Ô´´ Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Dalian Rongke Power
Primus Power
Sumitomo Electric
VRB ENERGY
Largo Clean Energy
Invinity Energy Systems
Big Pawer
H2, Inc.
CellCube Energy Storage
Shanghai Electric
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*If Applicable.