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Vanadium Redox Flow Battery (VRB) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030

Industry: Energy & Power

Published: 2024-01-24

Pages: 126 Pages

Report ld: 2337185

Description
Table of Contents
Table of Figures
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Description
Table of Contents
Table of Figures
PDF Download

Description

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.

Vanadium Redox Flow Battery (VRB) Market Size

M= millions and B=billions

The global market for Vanadium Redox Flow Battery (VRB) was estimated to be worth US$ 196.8 million in 2023 and is forecast to a readjusted size of US$ 350 million by 2030 with a CAGR of 8.5% 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 Flow Battery (VRB), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Vanadium Redox Flow Battery (VRB) by region & country, by Type, and by Application.

The Vanadium Redox Flow 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 Flow Battery (VRB).

Market Segmentation

Report Metric
Details
Report Title
Vanadium Redox Flow Battery (VRB) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Forecasted Market Size in 2030
US$ 350 million
CAGR(2024-2030)
8.5%
Market Size Available for Years
2019-2030
Global Vanadium Redox Flow Battery (VRB) Companies Covered
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, Segment by Application
Utility Facilities

Renewable Energy

Others
Forecast Units
USD million in value
Report Coverage
Revenue and volume forecast, company share, competitive landscape, growth factors and trends

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 Flow 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 Flow 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 Flow 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.

Table of Contents

 1 Market Overview
    1.1 Vanadium Redox Flow Battery (VRB) Product Introduction
    1.2 Global Vanadium Redox Flow Battery (VRB) Market Size Forecast
        1.2.1 Global Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030)
        1.2.2 Global Vanadium Redox Flow Battery (VRB) Sales Volume (2019-2030)
        1.2.3 Global Vanadium Redox Flow Battery (VRB) Sales Price (2019-2030)
    1.3 Vanadium Redox Flow Battery (VRB) Market Trends & Drivers
        1.3.1 Vanadium Redox Flow Battery (VRB) Industry Trends
        1.3.2 Vanadium Redox Flow Battery (VRB) Market Drivers & Opportunity
        1.3.3 Vanadium Redox Flow Battery (VRB) Market Challenges
        1.3.4 Vanadium Redox Flow Battery (VRB) Market Restraints
    1.4 Assumptions and Limitations
    1.5 Study Objectives
    1.6 Years Considered

 2 Competitive Analysis by Company
    2.1 Global Vanadium Redox Flow Battery (VRB) Players Revenue Ranking (2023)
    2.2 Global Vanadium Redox Flow Battery (VRB) Revenue by Company (2019-2024)
    2.3 Global Vanadium Redox Flow Battery (VRB) Players Sales Volume Ranking (2023)
    2.4 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Company Players (2019-2024)
    2.5 Global Vanadium Redox Flow Battery (VRB) Average Price by Company (2019-2024)
    2.6 Key Manufacturers Vanadium Redox Flow Battery (VRB) Manufacturing Base Distribution and Headquarters
    2.7 Key Manufacturers Vanadium Redox Flow Battery (VRB) Product Offered
    2.8 Key Manufacturers Time to Begin Mass Production of Vanadium Redox Flow Battery (VRB)
    2.9 Vanadium Redox Flow Battery (VRB) Market Competitive Analysis
        2.9.1 Vanadium Redox Flow Battery (VRB) Market Concentration Rate (2019-2024)
        2.9.2 Global 5 and 10 Largest Manufacturers by Vanadium Redox Flow 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 Flow 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 Flow Battery (VRB) Sales Value by Type
        3.2.1 Global Vanadium Redox Flow Battery (VRB) Sales Value by Type (2019 VS 2023 VS 2030)
        3.2.2 Global Vanadium Redox Flow Battery (VRB) Sales Value, by Type (2019-2030)
        3.2.3 Global Vanadium Redox Flow Battery (VRB) Sales Value, by Type (%) (2019-2030)
    3.3 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type
        3.3.1 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type (2019 VS 2023 VS 2030)
        3.3.2 Global Vanadium Redox Flow Battery (VRB) Sales Volume, by Type (2019-2030)
        3.3.3 Global Vanadium Redox Flow Battery (VRB) Sales Volume, by Type (%) (2019-2030)
    3.4 Global Vanadium Redox Flow 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
        4.1.3 Others
    4.2 Global Vanadium Redox Flow Battery (VRB) Sales Value by Application
        4.2.1 Global Vanadium Redox Flow Battery (VRB) Sales Value by Application (2019 VS 2023 VS 2030)
        4.2.2 Global Vanadium Redox Flow Battery (VRB) Sales Value, by Application (2019-2030)
        4.2.3 Global Vanadium Redox Flow Battery (VRB) Sales Value, by Application (%) (2019-2030)
    4.3 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application
        4.3.1 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application (2019 VS 2023 VS 2030)
        4.3.2 Global Vanadium Redox Flow Battery (VRB) Sales Volume, by Application (2019-2030)
        4.3.3 Global Vanadium Redox Flow Battery (VRB) Sales Volume, by Application (%) (2019-2030)
    4.4 Global Vanadium Redox Flow Battery (VRB) Average Price by Application (2019-2030)

 5 Segmentation by Region
    5.1 Global Vanadium Redox Flow Battery (VRB) Sales Value by Region
        5.1.1 Global Vanadium Redox Flow Battery (VRB) Sales Value by Region: 2019 VS 2023 VS 2030
        5.1.2 Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2019-2024)
        5.1.3 Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2025-2030)
        5.1.4 Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (%), (2019-2030)
    5.2 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region
        5.2.1 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region: 2019 VS 2023 VS 2030
        5.2.2 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2019-2024)
        5.2.3 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2025-2030)
        5.2.4 Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (%), (2019-2030)
    5.3 Global Vanadium Redox Flow Battery (VRB) Average Price by Region (2019-2030)
    5.4 North America
        5.4.1 North America Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        5.4.2 North America Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    5.5 Europe
        5.5.1 Europe Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        5.5.2 Europe Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    5.6 Asia Pacific
        5.6.1 Asia Pacific Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        5.6.2 Asia Pacific Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    5.7 South America
        5.7.1 South America Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        5.7.2 South America Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    5.8 Middle East & Africa
        5.8.1 Middle East & Africa Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        5.8.2 Middle East & Africa Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030

 6 Segmentation by Key Countries/Regions
    6.1 Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value Growth Trends, 2019 VS 2023 VS 2030
    6.2 Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value
        6.2.1 Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.2.2 Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Volume, 2019-2030
    6.3 United States
        6.3.1 United States Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.3.2 United States Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.3.3 United States Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.4 Europe
        6.4.1 Europe Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.4.2 Europe Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.4.3 Europe Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.5 China
        6.5.1 China Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.5.2 China Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.5.3 China Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.6 Japan
        6.6.1 Japan Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.6.2 Japan Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.6.3 Japan Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.7 South Korea
        6.7.1 South Korea Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.7.2 South Korea Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.7.3 South Korea Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.8 Southeast Asia
        6.8.1 Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.8.2 Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.8.3 Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value by Application, 2023 VS 2030
    6.9 India
        6.9.1 India Vanadium Redox Flow Battery (VRB) Sales Value, 2019-2030
        6.9.2 India Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
        6.9.3 India Vanadium Redox Flow 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 Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.1.4 Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Product Offerings
        7.1.5 Dalian Rongke Power Recent Development
    7.2 Primus Power
        7.2.1 Primus Power Company Information
        7.2.2 Primus Power Introduction and Business Overview
        7.2.3 Primus Power Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.2.4 Primus Power Vanadium Redox Flow Battery (VRB) Product Offerings
        7.2.5 Primus Power Recent Development
    7.3 Sumitomo Electric
        7.3.1 Sumitomo Electric Company Information
        7.3.2 Sumitomo Electric Introduction and Business Overview
        7.3.3 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.3.4 Sumitomo Electric Vanadium Redox Flow Battery (VRB) Product Offerings
        7.3.5 Sumitomo Electric Recent Development
    7.4 VRB ENERGY
        7.4.1 VRB ENERGY Company Information
        7.4.2 VRB ENERGY Introduction and Business Overview
        7.4.3 VRB ENERGY Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.4.4 VRB ENERGY Vanadium Redox Flow Battery (VRB) Product Offerings
        7.4.5 VRB ENERGY Recent Development
    7.5 Largo Clean Energy
        7.5.1 Largo Clean Energy Company Information
        7.5.2 Largo Clean Energy Introduction and Business Overview
        7.5.3 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.5.4 Largo Clean Energy Vanadium Redox Flow Battery (VRB) Product Offerings
        7.5.5 Largo Clean Energy Recent Development
    7.6 Invinity Energy Systems
        7.6.1 Invinity Energy Systems Company Information
        7.6.2 Invinity Energy Systems Introduction and Business Overview
        7.6.3 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.6.4 Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Product Offerings
        7.6.5 Invinity Energy Systems Recent Development
    7.7 Big Pawer
        7.7.1 Big Pawer Company Information
        7.7.2 Big Pawer Introduction and Business Overview
        7.7.3 Big Pawer Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.7.4 Big Pawer Vanadium Redox Flow Battery (VRB) Product Offerings
        7.7.5 Big Pawer Recent Development
    7.8 H2, Inc.
        7.8.1 H2, Inc. Company Information
        7.8.2 H2, Inc. Introduction and Business Overview
        7.8.3 H2, Inc. Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.8.4 H2, Inc. Vanadium Redox Flow Battery (VRB) Product Offerings
        7.8.5 H2, Inc. Recent Development
    7.9 CellCube Energy Storage
        7.9.1 CellCube Energy Storage Company Information
        7.9.2 CellCube Energy Storage Introduction and Business Overview
        7.9.3 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.9.4 CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Product Offerings
        7.9.5 CellCube Energy Storage Recent Development
    7.10 Shanghai Electric
        7.10.1 Shanghai Electric Company Information
        7.10.2 Shanghai Electric Introduction and Business Overview
        7.10.3 Shanghai Electric Vanadium Redox Flow Battery (VRB) Sales, Revenue and Gross Margin (2019-2024)
        7.10.4 Shanghai Electric Vanadium Redox Flow Battery (VRB) Product Offerings
        7.10.5 Shanghai Electric Recent Development

 8 Industry Chain Analysis
    8.1 Vanadium Redox Flow Battery (VRB) Industrial Chain
    8.2 Vanadium Redox Flow 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 Flow Battery (VRB) Sales Model
        8.5.2 Sales Channel
        8.5.3 Vanadium Redox Flow 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

Table of Figures

List of Tables
    Table 1. Vanadium Redox Flow Battery (VRB) Market Trends
    Table 2. Vanadium Redox Flow Battery (VRB) Market Drivers & Opportunity
    Table 3. Vanadium Redox Flow Battery (VRB) Market Challenges
    Table 4. Vanadium Redox Flow Battery (VRB) Market Restraints
    Table 5. Global Vanadium Redox Flow Battery (VRB) Revenue by Company (2019-2024) & (US$ Million)
    Table 6. Global Vanadium Redox Flow Battery (VRB) Revenue Market Share by Company (2019-2024)
    Table 7. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Company (2019-2024) & (MW)
    Table 8. Global Vanadium Redox Flow Battery (VRB) Sales Volume Market Share by Company (2019-2024)
    Table 9. Global Market Vanadium Redox Flow Battery (VRB) Price by Company (2019-2024) & (USD/KW)
    Table 10. Key Manufacturers Vanadium Redox Flow Battery (VRB) Manufacturing Base Distribution and Headquarters
    Table 11. Key Manufacturers Vanadium Redox Flow Battery (VRB) Product Type
    Table 12. Key Manufacturers Time to Begin Mass Production of Vanadium Redox Flow Battery (VRB)
    Table 13. Global Vanadium Redox Flow Battery (VRB) Manufacturers Market Concentration Ratio (CR5 and HHI)
    Table 14. Global Top Manufacturers Market Share by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Vanadium Redox Flow Battery (VRB) as of 2023)
    Table 15. Mergers & Acquisitions, Expansion Plans
    Table 16. Global Vanadium Redox Flow Battery (VRB) Sales Value by Type: 2019 VS 2023 VS 2030 (US$ Million)
    Table 17. Global Vanadium Redox Flow Battery (VRB) Sales Value by Type (2019-2024) & (US$ Million)
    Table 18. Global Vanadium Redox Flow Battery (VRB) Sales Value by Type (2025-2030) & (US$ Million)
    Table 19. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Value by Type (2019-2024) & (%)
    Table 20. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Value by Type (2025-2030) & (%)
    Table 21. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type: 2019 VS 2023 VS 2030 (MW)
    Table 22. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type (2019-2024) & (MW)
    Table 23. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type (2025-2030) & (MW)
    Table 24. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Volume by Type (2019-2024) & (%)
    Table 25. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Volume by Type (2025-2030) & (%)
    Table 26. Global Vanadium Redox Flow Battery (VRB) Price by Type (2019-2024) & (USD/KW)
    Table 27. Global Vanadium Redox Flow Battery (VRB) Price by Type (2025-2030) & (USD/KW)
    Table 28. Global Vanadium Redox Flow Battery (VRB) Sales Value by Application: 2019 VS 2023 VS 2030 (US$ Million)
    Table 29. Global Vanadium Redox Flow Battery (VRB) Sales Value by Application (2019-2024) & (US$ Million)
    Table 30. Global Vanadium Redox Flow Battery (VRB) Sales Value by Application (2025-2030) & (US$ Million)
    Table 31. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Value by Application (2019-2024) & (%)
    Table 32. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Value by Application (2025-2030) & (%)
    Table 33. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application: 2019 VS 2023 VS 2030 (MW)
    Table 34. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application (2019-2024) & (MW)
    Table 35. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application (2025-2030) & (MW)
    Table 36. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Volume by Application (2019-2024) & (%)
    Table 37. Global Vanadium Redox Flow Battery (VRB) Sales Market Share in Volume by Application (2025-2030) & (%)
    Table 38. Global Vanadium Redox Flow Battery (VRB) Price by Application (2019-2024) & (USD/KW)
    Table 39. Global Vanadium Redox Flow Battery (VRB) Price by Application (2025-2030) & (USD/KW)
    Table 40. Global Vanadium Redox Flow Battery (VRB) Sales Value by Region: 2019 VS 2023 VS 2030 (US$ Million)
    Table 41. Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2019-2024) & (US$ Million)
    Table 42. Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2025-2030) & (US$ Million)
    Table 43. Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2019-2024) & (%)
    Table 44. Global Vanadium Redox Flow Battery (VRB) Sales Value by Region (2025-2030) & (%)
    Table 45. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (MW): 2019 VS 2023 VS 2030
    Table 46. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2019-2024) & (MW)
    Table 47. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2025-2030) & (MW)
    Table 48. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2019-2024) & (%)
    Table 49. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Region (2025-2030) & (%)
    Table 50. Global Vanadium Redox Flow Battery (VRB) Average Price by Region (2019-2024) & (USD/KW)
    Table 51. Global Vanadium Redox Flow Battery (VRB) Average Price by Region (2025-2030) & (USD/KW)
    Table 52. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value Growth Trends, (US$ Million): 2019 VS 2023 VS 2030
    Table 53. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2024) & (US$ Million)
    Table 54. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value, (2025-2030) & (US$ Million)
    Table 55. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Volume, (2019-2024) & (MW)
    Table 56. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Volume, (2025-2030) & (MW)
    Table 57. Dalian Rongke Power Company Information
    Table 58. Dalian Rongke Power Introduction and Business Overview
    Table 59. Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 60. Dalian Rongke Power Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 61. Dalian Rongke Power Recent Development
    Table 62. Primus Power Company Information
    Table 63. Primus Power Introduction and Business Overview
    Table 64. Primus Power Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 65. Primus Power Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 66. Primus Power Recent Development
    Table 67. Sumitomo Electric Company Information
    Table 68. Sumitomo Electric Introduction and Business Overview
    Table 69. Sumitomo Electric Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 70. Sumitomo Electric Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 71. Sumitomo Electric Recent Development
    Table 72. VRB ENERGY Company Information
    Table 73. VRB ENERGY Introduction and Business Overview
    Table 74. VRB ENERGY Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 75. VRB ENERGY Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 76. VRB ENERGY Recent Development
    Table 77. Largo Clean Energy Company Information
    Table 78. Largo Clean Energy Introduction and Business Overview
    Table 79. Largo Clean Energy Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 80. Largo Clean Energy Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 81. Largo Clean Energy Recent Development
    Table 82. Invinity Energy Systems Company Information
    Table 83. Invinity Energy Systems Introduction and Business Overview
    Table 84. Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 85. Invinity Energy Systems Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 86. Invinity Energy Systems Recent Development
    Table 87. Big Pawer Company Information
    Table 88. Big Pawer Introduction and Business Overview
    Table 89. Big Pawer Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 90. Big Pawer Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 91. Big Pawer Recent Development
    Table 92. H2, Inc. Company Information
    Table 93. H2, Inc. Introduction and Business Overview
    Table 94. H2, Inc. Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 95. H2, Inc. Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 96. H2, Inc. Recent Development
    Table 97. CellCube Energy Storage Company Information
    Table 98. CellCube Energy Storage Introduction and Business Overview
    Table 99. CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 100. CellCube Energy Storage Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 101. CellCube Energy Storage Recent Development
    Table 102. Shanghai Electric Company Information
    Table 103. Shanghai Electric Introduction and Business Overview
    Table 104. Shanghai Electric Vanadium Redox Flow Battery (VRB) Sales (MW), Revenue (US$ Million), Price (USD/KW) and Gross Margin (2019-2024)
    Table 105. Shanghai Electric Vanadium Redox Flow Battery (VRB) Product Offerings
    Table 106. Shanghai Electric Recent Development
    Table 107. Key Raw Materials Lists
    Table 108. Raw Materials Key Suppliers Lists
    Table 109. Vanadium Redox Flow Battery (VRB) Downstream Customers
    Table 110. Vanadium Redox Flow Battery (VRB) Distributors List
    Table 111. Research Programs/Design for This Report
    Table 112. Key Data Information from Secondary Sources
    Table 113. Key Data Information from Primary Sources
List of Figures
    Figure 1. Vanadium Redox Flow Battery (VRB) Product Picture
    Figure 2. Global Vanadium Redox Flow Battery (VRB) Sales Value, 2019 VS 2023 VS 2030 (US$ Million)
    Figure 3. Global Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 4. Global Vanadium Redox Flow Battery (VRB) Sales Volume (2019-2030) & (MW)
    Figure 5. Global Vanadium Redox Flow Battery (VRB) Sales Price (2019-2030) & (USD/KW)
    Figure 6. Vanadium Redox Flow Battery (VRB) Report Years Considered
    Figure 7. Global Vanadium Redox Flow Battery (VRB) Players Revenue Ranking (2023) & (US$ Million)
    Figure 8. Global Vanadium Redox Flow Battery (VRB) Players Sales Volume Ranking (2023) & (MW)
    Figure 9. The 5 and 10 Largest Manufacturers in the World: Market Share by Vanadium Redox Flow Battery (VRB) Revenue in 2023
    Figure 10. Vanadium Redox Flow Battery (VRB) Market Share by Company Type (Tier 1, Tier 2, and Tier 3): 2019 VS 2023
    Figure 11. Carbon Paper Electrode Picture
    Figure 12. Graphite Felt Electrode Picture
    Figure 13. Global Vanadium Redox Flow Battery (VRB) Sales Value by Type (2019 VS 2023 VS 2030) & (US$ Million)
    Figure 14. Global Vanadium Redox Flow Battery (VRB) Sales Value Market Share by Type, 2023 & 2030
    Figure 15. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Type (2019 VS 2023 VS 2030) & (MW)
    Figure 16. Global Vanadium Redox Flow Battery (VRB) Sales Volume Market Share by Type, 2023 & 2030
    Figure 17. Global Vanadium Redox Flow Battery (VRB) Price by Type (2019-2030) & (USD/KW)
    Figure 18. Product Picture of Utility Facilities
    Figure 19. Product Picture of Renewable Energy
    Figure 20. Product Picture of Others
    Figure 21. Global Vanadium Redox Flow Battery (VRB) Sales Value by Application (2019 VS 2023 VS 2030) & (US$ Million)
    Figure 22. Global Vanadium Redox Flow Battery (VRB) Sales Value Market Share by Application, 2023 & 2030
    Figure 23. Global Vanadium Redox Flow Battery (VRB) Sales Volume by Application (2019 VS 2023 VS 2030) & (MW)
    Figure 24. Global Vanadium Redox Flow Battery (VRB) Sales Volume Market Share by Application, 2023 & 2030
    Figure 25. Global Vanadium Redox Flow Battery (VRB) Price by Application (2019-2030) & (USD/KW)
    Figure 26. North America Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 27. North America Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    Figure 28. Europe Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 29. Europe Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    Figure 30. Asia Pacific Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 31. Asia Pacific Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    Figure 32. South America Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 33. South America Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    Figure 34. Middle East & Africa Vanadium Redox Flow Battery (VRB) Sales Value (2019-2030) & (US$ Million)
    Figure 35. Middle East & Africa Vanadium Redox Flow Battery (VRB) Sales Value by Country (%), 2023 VS 2030
    Figure 36. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Value (%), (2019-2030)
    Figure 37. Key Countries/Regions Vanadium Redox Flow Battery (VRB) Sales Volume (%), (2019-2030)
    Figure 38. United States Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 39. United States Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 40. United States Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 41. Europe Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 42. Europe Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 43. Europe Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 44. China Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 45. China Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 46. China Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 47. Japan Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 48. Japan Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 49. Japan Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 50. South Korea Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 51. South Korea Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 52. South Korea Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 53. Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 54. Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 55. Southeast Asia Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 56. India Vanadium Redox Flow Battery (VRB) Sales Value, (2019-2030) & (US$ Million)
    Figure 57. India Vanadium Redox Flow Battery (VRB) Sales Value by Type (%), 2023 VS 2030
    Figure 58. India Vanadium Redox Flow Battery (VRB) Sales Value by Application (%), 2023 VS 2030
    Figure 59. Vanadium Redox Flow Battery (VRB) Industrial Chain
    Figure 60. Vanadium Redox Flow Battery (VRB) Manufacturing Cost Structure
    Figure 61. Channels of Distribution (Direct Sales, and Distribution)
    Figure 62. Bottom-up and Top-down Approaches for This Report
    Figure 63. Data Triangulation
    Figure 64. Key Executives Interviewed

Description

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 market for Vanadium Redox Flow Battery (VRB) was estimated to be worth US$ 196.8 million in 2023 and is forecast to a readjusted size of US$ 350 million by 2030 with a CAGR of 8.5% 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 Flow Battery (VRB), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Vanadium Redox Flow Battery (VRB) by region & country, by Type, and by Application.

The Vanadium Redox Flow 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 Flow Battery (VRB).

Market Segmentation