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鈥檚 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 market for Vanadium Redox Battery (VRB) was estimated to be worth US$ 1222.6 million in 2023 and is forecast to a readjusted size of US$ 12110 million by 2030 with a CAGR of 38.3% during the forecast period 2024-2030
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 aims to provide a comprehensive presentation of the global market for Vanadium Redox Battery (VRB), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Vanadium Redox Battery (VRB) by region & country, by Type, and by Application.
The Vanadium Redox Battery (VRB) market size, estimations, and forecasts are provided in terms of sales volume (MW) and sales revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Vanadium Redox Battery (VRB).
麻豆原创 Segmentation
By Company
Dalian Rongke 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 Integration
Others
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
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides 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 2: Detailed analysis of Vanadium Redox Battery (VRB) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Vanadium Redox Battery (VRB) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Vanadium Redox Battery (VRB) in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: 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 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
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1 麻豆原创 Overview
1.1 Vanadium Redox Battery (VRB) Product Introduction
1.2 Global Vanadium Redox Battery (VRB) 麻豆原创 Size Forecast
1.2.1 Global Vanadium Redox Battery (VRB) Sales Value (2019-2030)
1.2.2 Global Vanadium Redox Battery (VRB) Sales Volume (2019-2030)
1.2.3 Global Vanadium Redox Battery (VRB) Sales Price (2019-2030)
1.3 Vanadium Redox Battery (VRB) 麻豆原创 Trends & Drivers
1.3.1 Vanadium Redox Battery (VRB) Industry Trends
1.3.2 Vanadium Redox Battery (VRB) 麻豆原创 Drivers & Opportunity
1.3.3 Vanadium Redox Battery (VRB) 麻豆原创 Challenges
1.3.4 Vanadium Redox Battery (VRB) 麻豆原创 Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Vanadium Redox Battery (VRB) Players Revenue Ranking (2023)
2.2 Global Vanadium Redox Battery (VRB) Revenue by Company (2019-2024)
2.3 Global Vanadium Redox Battery (VRB) Players Sales Volume Ranking (2023)
2.4 Global Vanadium Redox Battery (VRB) Sales Volume by Company Players (2019-2024)
2.5 Global Vanadium Redox Battery (VRB) Average Price by Company (2019-2024)
2.6 Key Manufacturers Vanadium Redox Battery (VRB) Manufacturing Base Distribution and Headquarters
2.7 Key Manufacturers Vanadium Redox Battery (VRB) Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Vanadium Redox Battery (VRB)
2.9 Vanadium Redox Battery (VRB) 麻豆原创 Competitive Analysis
2.9.1 Vanadium Redox Battery (VRB) 麻豆原创 Concentration Rate (2019-2024)
2.9.2 Global 5 and 10 Largest Manufacturers by Vanadium Redox Battery (VRB) Revenue in 2023
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Vanadium Redox Battery (VRB) as of 2023)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Carbon Paper Electrode
3.1.2 Graphite Felt Electrode
3.2 Global Vanadium Redox Battery (VRB) Sales Value by Type
3.2.1 Global Vanadium Redox Battery (VRB) Sales Value by Type (2019 VS 2023 VS 2030)
3.2.2 Global Vanadium Redox Battery (VRB) Sales Value, by Type (2019-2030)
3.2.3 Global Vanadium Redox Battery (VRB) Sales Value, by Type (%) (2019-2030)
3.3 Global Vanadium Redox Battery (VRB) Sales Volume by Type
3.3.1 Global Vanadium Redox Battery (VRB) Sales Volume by Type (2019 VS 2023 VS 2030)
3.3.2 Global Vanadium Redox Battery (VRB) Sales Volume, by Type (2019-2030)
3.3.3 Global Vanadium Redox Battery (VRB) Sales Volume, by Type (%) (2019-2030)
3.4 Global Vanadium Redox Battery (VRB) Average Price by Type (2019-2030)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Utility Facilities
4.1.2 Renewable Energy Integration
4.1.3 Others
4.2 Global Vanadium Redox Battery (VRB) Sales Value by Application
4.2.1 Global Vanadium Redox Battery (VRB) Sales Value by Application (2019 VS 2023 VS 2030)
4.2.2 Global Vanadium Redox Battery (VRB) Sales Value, by Application (2019-2030)
4.2.3 Global Vanadium Redox Battery (VRB) Sales Value, by Application (%) (2019-2030)
4.3 Global Vanadium Redox Battery (VRB) Sales Volume by Application
4.3.1 Global Vanadium Redox Battery (VRB) Sales Volume by Application (2019 VS 2023 VS 2030)
4.3.2 Global Vanadium Redox Battery (VRB) Sales Volume, by Application (2019-2030)
4.3.3 Global Vanadium Redox Battery (VRB) Sales Volume, by Application (%) (2019-2030)
4.4 Global Vanadium Redox Battery (VRB) Average Price by Application (2019-2030)
5 Segmentation by Region
5.1 Global Vanadium Redox Battery (VRB) Sales Value by Region
5.1.1 Global Vanadium Redox Battery (VRB) Sales Value by Region: 2019 VS 2023 VS 2030
5.1.2 Global Vanadium Redox Battery (VRB) Sales Value by Region (2019-2024)
5.1.3 Global Vanadium Redox Battery (VRB) Sales Value by Region (2025-2030)
5.1.4 Global Vanadium Redox Battery (VRB) Sales Value by Region (%), (2019-2030)
5.2 Global Vanadium Redox Battery (VRB) Sales Volume by Region
5.2.1 Global Vanadium Redox Battery (VRB) Sales Volume by Region: 2019 VS 2023 VS 2030
5.2.2 Global Vanadium Redox Battery (VRB) Sales Volume by Region (2019-2024)
5.2.3 Global Vanadium Redox Battery (VRB) Sales Volume by Region (2025-2030)
5.2.4 Global Vanadium Redox Battery (VRB) Sales Volume by Region (%), (2019-2030)
5.3 Global Vanadium Redox Battery (VRB) Average Price by Region (2019-2030)
5.4 North America
5.4.1 North America Vanadium Redox Battery (VRB) Sales Value, 2019-2030
5.4.2 North America Vanadium Redox Battery (VRB) Sales Value by Country (%), 2023 VS 2030
5.5 Europe
5.5.1 Europe Vanadium Redox Battery (VRB) Sales Value, 2019-2030
5.5.2 Europe Vanadium Redox Battery (VRB) Sales Value by Country (%), 2023 VS 2030
5.6 Asia Pacific
5.6.1 Asia Pacific Vanadium Redox Battery (VRB) Sales Value, 2019-2030
5.6.2 Asia Pacific Vanadium Redox Battery (VRB) Sales Value by Country (%), 2023 VS 2030
5.7 South America
5.7.1 South America Vanadium Redox Battery (VRB) Sales Value, 2019-2030
5.7.2 South America Vanadium Redox Battery (VRB) Sales Value by Country (%), 2023 VS 2030
5.8 Middle East & Africa
5.8.1 Middle East & Africa Vanadium Redox Battery (VRB) Sales Value, 2019-2030
5.8.2 Middle East & Africa Vanadium Redox Battery (VRB) Sales Value by Country (%), 2023 VS 2030
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Vanadium Redox Battery (VRB) Sales Value Growth Trends, 2019 VS 2023 VS 2030
6.2 Key Countries/Regions Vanadium Redox Battery (VRB) Sales Value
6.2.1 Key Countries/Regions Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.2.2 Key Countries/Regions Vanadium Redox Battery (VRB) Sales Volume, 2019-2030
6.3 United States
6.3.1 United States Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.3.2 United States Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.3.3 United States Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.4 Europe
6.4.1 Europe Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.4.2 Europe Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.4.3 Europe Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.5 China
6.5.1 China Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.5.2 China Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.5.3 China Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.6 Japan
6.6.1 Japan Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.6.2 Japan Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.6.3 Japan Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.7 South Korea
6.7.1 South Korea Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.7.2 South Korea Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.7.3 South Korea Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.8 Southeast Asia
6.8.1 Southeast Asia Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.8.2 Southeast Asia Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.8.3 Southeast Asia Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
6.9 India
6.9.1 India Vanadium Redox Battery (VRB) Sales Value, 2019-2030
6.9.2 India Vanadium Redox Battery (VRB) Sales Value by Type (%), 2023 VS 2030
6.9.3 India Vanadium Redox Battery (VRB) Sales Value by Application, 2023 VS 2030
7 Company Profiles
7.1 Dalian Rongke Power
7.1.1 Dalian Rongke Power Company Information
7.1.2 Dalian Rongke Power Introduction and Business Overview
7.1.3 Dalian Rongke Power Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.1.4 Dalian Rongke Power Vanadium Redox Battery (VRB) Product Offerings
7.1.5 Dalian Rongke Power Recent Development
7.2 Sumitomo Electric
7.2.1 Sumitomo Electric Company Information
7.2.2 Sumitomo Electric Introduction and Business Overview
7.2.3 Sumitomo Electric Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.2.4 Sumitomo Electric Vanadium Redox Battery (VRB) Product Offerings
7.2.5 Sumitomo Electric Recent Development
7.3 VRB ENERGY
7.3.1 VRB ENERGY Company Information
7.3.2 VRB ENERGY Introduction and Business Overview
7.3.3 VRB ENERGY Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.3.4 VRB ENERGY Vanadium Redox Battery (VRB) Product Offerings
7.3.5 VRB ENERGY Recent Development
7.4 Largo Clean Energy
7.4.1 Largo Clean Energy Company Information
7.4.2 Largo Clean Energy Introduction and Business Overview
7.4.3 Largo Clean Energy Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.4.4 Largo Clean Energy Vanadium Redox Battery (VRB) Product Offerings
7.4.5 Largo Clean Energy Recent Development
7.5 Invinity Energy Systems
7.5.1 Invinity Energy Systems Company Information
7.5.2 Invinity Energy Systems Introduction and Business Overview
7.5.3 Invinity Energy Systems Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.5.4 Invinity Energy Systems Vanadium Redox Battery (VRB) Product Offerings
7.5.5 Invinity Energy Systems Recent Development
7.6 Big Pawer
7.6.1 Big Pawer Company Information
7.6.2 Big Pawer Introduction and Business Overview
7.6.3 Big Pawer Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.6.4 Big Pawer Vanadium Redox Battery (VRB) Product Offerings
7.6.5 Big Pawer Recent Development
7.7 H2, Inc.
7.7.1 H2, Inc. Company Information
7.7.2 H2, Inc. Introduction and Business Overview
7.7.3 H2, Inc. Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.7.4 H2, Inc. Vanadium Redox Battery (VRB) Product Offerings
7.7.5 H2, Inc. Recent Development
7.8 CellCube Energy Storage
7.8.1 CellCube Energy Storage Company Information
7.8.2 CellCube Energy Storage Introduction and Business Overview
7.8.3 CellCube Energy Storage Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.8.4 CellCube Energy Storage Vanadium Redox Battery (VRB) Product Offerings
7.8.5 CellCube Energy Storage Recent Development
7.9 Shanghai Electric
7.9.1 Shanghai Electric Company Information
7.9.2 Shanghai Electric Introduction and Business Overview
7.9.3 Shanghai Electric Vanadium Redox Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
7.9.4 Shanghai Electric Vanadium Redox Battery (VRB) Product Offerings
7.9.5 Shanghai Electric Recent Development
8 Industry Chain Analysis
8.1 Vanadium Redox Battery (VRB) Industrial Chain
8.2 Vanadium Redox Battery (VRB) Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Vanadium Redox Battery (VRB) Sales Model
8.5.2 Sales Channel
8.5.3 Vanadium Redox Battery (VRB) Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.2 Data Source
10.2 Author Details
10.3 Disclaimer
Dalian Rongke 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.