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Vanadium Redox Flow Battery, By End-Use: Global Opportunity Analysis and Industry Forecast, 2024-2030

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    Report

  • 246 Pages
  • June 2024
  • Region: Global
  • Allied Market Research
  • ID: 5994056
Description Jump to:
The global vanadium redox battery (VRB) market was valued at $188.7 million in 2023 and is projected to reach $808.7 million by 2033, growing at a CAGR of 15.7% from 2024 to 2033.

VRB is a rechargeable flow battery that employs vanadium ions in various oxidation states for the storage of potential energy. The vanadium ions go through redox reactions while charging or discharging, utilizing an ion-exchange membrane to transfer electrons between the two electrolyte solutions. The technology utilized in VRB offers scalability, high energy efficiency, and long cycle life; making it appropriate for several energy storage solutions, including renewable energy integration, grid energy storage, and backup power systems.

The deployment of energy grid in renewable energy sources such as solar and wind is on the surge. This is increasing the demand for efficient energy storage mechanisms, hence augmenting the growth of the vanadium redox battery (VRB) market. VRBs are critical for regulating fluxes in renewable energy generation, ensuring reliable power supply, and stabilizing the grid. In recent times, research for the introduction of innovative electrolyte formulations in VRBs is gaining pace. The scientists aim to introduce electrolytes with formulations which lower self-discharge rates, elevate energy density, and enhance overall efficiency.

However, the lack of recycling infrastructure is a significant restraint of the vanadium redox battery (VRB) market. Long-range sustainability of VRBs relies on efficient recycling as they require specialized recycling processes to restore vanadium electrolytes and other valuables. The shortage of devoted facilities presents significant challenges in the management of perishing batteries and extraction of valuable components for reuse. On the contrary, the rapid adoption of electric vehicles (EVs) is presenting a lucrative opportunity for the expansion of the vanadium redox battery (VRB) market. According to Internation Energy Agency, the sale of EVs in the first quarter of 2024 exceeded the annual total from four years ago.

Segment Review

The vanadium redox battery (VRB) market is segmented into application, end-use, and region. By application, the market is divided into renewable energy (solar, wind energy, and others), telecommunication & data centers, EV charging, and others. As per end-use, it is categorized into residential, commercial, and industrial & utilities. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By application, the renewable energy segment is expected to dominate the market throughout the forecast period.

As per end-use, the industrial & utilities segment is anticipated to be the highest shareholder during the forecast period.

Region wise, Asia-Pacific is projected to be the highest revenue generator by 2033.

Competition Analysis

The major players operating in the vanadium redox battery (VRB) market includes VRB ENERGY, Sumitomo Electric Industries, Ltd., VFlowTech Pte Ltd., Invinity Energy Systems, StorEn Technologies, Delectrik Systems Pvt Ltd, Australian Vanadium Limited, Shanghai Electric, Enerox GmbH, Largo Inc., H2, Inc., LE SYSTEM CO., Ltd., Hunan Yinfeng New Energy Co., Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.

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Key Market Segments

By Application

  • Renewable Energy
  • Solar
  • Wind
  • Others
  • Telecommunication and Data Centres
  • EV Charging
  • Others

By End-Use

  • Residential
  • Commercial
  • Industrial and Utilities

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA

Key Market Players

  • VRB Energy
  • Sumitomo Electric Industries, Ltd.
  • VFlowTech Pte Ltd.
  • Invinity Energy Systems
  • StorEn Technologies
  • Delectrik Systems Pvt Ltd
  • Australian Vanadium Limited
  • Shanghai Electric
  • Enerox GmbH
  • Largo Inc.
  • H2, Inc.
  • LE SYSTEM CO., Ltd.
  • Hunan Yinfeng New Energy Co., Ltd.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
CHAPTER 4: VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY APPLICATION
4.1. Market Overview
4.1.1 Market Size and Forecast, By Application
4.2. Renewable Energy
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.2.4. Solar
4.2.4.1. Market Size and Forecast
4.2.4. Wind
4.2.4.1. Market Size and Forecast
4.2.4. Others
4.2.4.1. Market Size and Forecast
4.3. Telecommunication And Data Centres
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
4.4. EV Charging
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, By Region
4.4.3. Market Share Analysis, By Country
4.5. Others
4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast, By Region
4.5.3. Market Share Analysis, By Country
CHAPTER 5: VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY END-USE
5.1. Market Overview
5.1.1 Market Size and Forecast, By End-use
5.2. Residential
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. Commercial
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. Industrial And Utilities
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
CHAPTER 6: VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY REGION
6.1. Market Overview
6.1.1 Market Size and Forecast, By Region
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. Market Size and Forecast, By Application
6.2.3. Market Size and Forecast, By End-use
6.2.4. Market Size and Forecast, By Country
6.2.5. U.S. Vanadium Redox Flow Battery (VRB) Market
6.2.5.1. Market Size and Forecast, By Application
6.2.5.2. Market Size and Forecast, By End-use
6.2.6. Canada Vanadium Redox Flow Battery (VRB) Market
6.2.6.1. Market Size and Forecast, By Application
6.2.6.2. Market Size and Forecast, By End-use
6.2.7. Mexico Vanadium Redox Flow Battery (VRB) Market
6.2.7.1. Market Size and Forecast, By Application
6.2.7.2. Market Size and Forecast, By End-use
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Market Size and Forecast, By Application
6.3.3. Market Size and Forecast, By End-use
6.3.4. Market Size and Forecast, By Country
6.3.5. France Vanadium Redox Flow Battery (VRB) Market
6.3.5.1. Market Size and Forecast, By Application
6.3.5.2. Market Size and Forecast, By End-use
6.3.6. Germany Vanadium Redox Flow Battery (VRB) Market
6.3.6.1. Market Size and Forecast, By Application
6.3.6.2. Market Size and Forecast, By End-use
6.3.7. Italy Vanadium Redox Flow Battery (VRB) Market
6.3.7.1. Market Size and Forecast, By Application
6.3.7.2. Market Size and Forecast, By End-use
6.3.8. Spain Vanadium Redox Flow Battery (VRB) Market
6.3.8.1. Market Size and Forecast, By Application
6.3.8.2. Market Size and Forecast, By End-use
6.3.9. UK Vanadium Redox Flow Battery (VRB) Market
6.3.9.1. Market Size and Forecast, By Application
6.3.9.2. Market Size and Forecast, By End-use
6.3.10. Rest Of Europe Vanadium Redox Flow Battery (VRB) Market
6.3.10.1. Market Size and Forecast, By Application
6.3.10.2. Market Size and Forecast, By End-use
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Market Size and Forecast, By Application
6.4.3. Market Size and Forecast, By End-use
6.4.4. Market Size and Forecast, By Country
6.4.5. China Vanadium Redox Flow Battery (VRB) Market
6.4.5.1. Market Size and Forecast, By Application
6.4.5.2. Market Size and Forecast, By End-use
6.4.6. Japan Vanadium Redox Flow Battery (VRB) Market
6.4.6.1. Market Size and Forecast, By Application
6.4.6.2. Market Size and Forecast, By End-use
6.4.7. India Vanadium Redox Flow Battery (VRB) Market
6.4.7.1. Market Size and Forecast, By Application
6.4.7.2. Market Size and Forecast, By End-use
6.4.8. South Korea Vanadium Redox Flow Battery (VRB) Market
6.4.8.1. Market Size and Forecast, By Application
6.4.8.2. Market Size and Forecast, By End-use
6.4.9. Australia Vanadium Redox Flow Battery (VRB) Market
6.4.9.1. Market Size and Forecast, By Application
6.4.9.2. Market Size and Forecast, By End-use
6.4.10. Rest of Asia-Pacific Vanadium Redox Flow Battery (VRB) Market
6.4.10.1. Market Size and Forecast, By Application
6.4.10.2. Market Size and Forecast, By End-use
6.5. LAMEA
6.5.1. Key Market Trends and Opportunities
6.5.2. Market Size and Forecast, By Application
6.5.3. Market Size and Forecast, By End-use
6.5.4. Market Size and Forecast, By Country
6.5.5. Brazil Vanadium Redox Flow Battery (VRB) Market
6.5.5.1. Market Size and Forecast, By Application
6.5.5.2. Market Size and Forecast, By End-use
6.5.6. South Africa Vanadium Redox Flow Battery (VRB) Market
6.5.6.1. Market Size and Forecast, By Application
6.5.6.2. Market Size and Forecast, By End-use
6.5.7. Saudi Arabia Vanadium Redox Flow Battery (VRB) Market
6.5.7.1. Market Size and Forecast, By Application
6.5.7.2. Market Size and Forecast, By End-use
6.5.8. Rest of LAMEA Vanadium Redox Flow Battery (VRB) Market
6.5.8.1. Market Size and Forecast, By Application
6.5.8.2. Market Size and Forecast, By End-use
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping Of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023
CHAPTER 8: COMPANY PROFILES
8.1. VRB Energy
8.1.1. Company Overview
8.1.2. Key Executives
8.1.3. Company Snapshot
8.1.4. Operating Business Segments
8.1.5. Product Portfolio
8.1.6. Business Performance
8.1.7. Key Strategic Moves and Developments
8.2. Sumitomo Electric Industries, Ltd.
8.2.1. Company Overview
8.2.2. Key Executives
8.2.3. Company Snapshot
8.2.4. Operating Business Segments
8.2.5. Product Portfolio
8.2.6. Business Performance
8.2.7. Key Strategic Moves and Developments
8.3. VFlowTech Pte Ltd.
8.3.1. Company Overview
8.3.2. Key Executives
8.3.3. Company Snapshot
8.3.4. Operating Business Segments
8.3.5. Product Portfolio
8.3.6. Business Performance
8.3.7. Key Strategic Moves and Developments
8.4. Invinity Energy Systems
8.4.1. Company Overview
8.4.2. Key Executives
8.4.3. Company Snapshot
8.4.4. Operating Business Segments
8.4.5. Product Portfolio
8.4.6. Business Performance
8.4.7. Key Strategic Moves and Developments
8.5. StorEn Technologies
8.5.1. Company Overview
8.5.2. Key Executives
8.5.3. Company Snapshot
8.5.4. Operating Business Segments
8.5.5. Product Portfolio
8.5.6. Business Performance
8.5.7. Key Strategic Moves and Developments
8.6. Delectrik Systems Pvt Ltd
8.6.1. Company Overview
8.6.2. Key Executives
8.6.3. Company Snapshot
8.6.4. Operating Business Segments
8.6.5. Product Portfolio
8.6.6. Business Performance
8.6.7. Key Strategic Moves and Developments
8.7. Australian Vanadium Limited
8.7.1. Company Overview
8.7.2. Key Executives
8.7.3. Company Snapshot
8.7.4. Operating Business Segments
8.7.5. Product Portfolio
8.7.6. Business Performance
8.7.7. Key Strategic Moves and Developments
8.8. Shanghai Electric
8.8.1. Company Overview
8.8.2. Key Executives
8.8.3. Company Snapshot
8.8.4. Operating Business Segments
8.8.5. Product Portfolio
8.8.6. Business Performance
8.8.7. Key Strategic Moves and Developments
8.9. Enerox GmbH
8.9.1. Company Overview
8.9.2. Key Executives
8.9.3. Company Snapshot
8.9.4. Operating Business Segments
8.9.5. Product Portfolio
8.9.6. Business Performance
8.9.7. Key Strategic Moves and Developments
8.10. Largo Inc.
8.10.1. Company Overview
8.10.2. Key Executives
8.10.3. Company Snapshot
8.10.4. Operating Business Segments
8.10.5. Product Portfolio
8.10.6. Business Performance
8.10.7. Key Strategic Moves and Developments
8.11. H2, Inc.
8.11.1. Company Overview
8.11.2. Key Executives
8.11.3. Company Snapshot
8.11.4. Operating Business Segments
8.11.5. Product Portfolio
8.11.6. Business Performance
8.11.7. Key Strategic Moves and Developments
8.12. LE SYSTEM CO., Ltd.
8.12.1. Company Overview
8.12.2. Key Executives
8.12.3. Company Snapshot
8.12.4. Operating Business Segments
8.12.5. Product Portfolio
8.12.6. Business Performance
8.12.7. Key Strategic Moves and Developments
8.13. Hunan Yinfeng New Energy Co., Ltd.
8.13.1. Company Overview
8.13.2. Key Executives
8.13.3. Company Snapshot
8.13.4. Operating Business Segments
8.13.5. Product Portfolio
8.13.6. Business Performance
8.13.7. Key Strategic Moves and Developments
LIST OF TABLES
TABLE 1. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 2. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR RENEWABLE ENERGY, BY REGION, 2024 - 2030 ($MILLION)
TABLE 3. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR TELECOMMUNICATION AND DATA CENTRES, BY REGION, 2024 - 2030 ($MILLION)
TABLE 4. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR EV CHARGING, BY REGION, 2024 - 2030 ($MILLION)
TABLE 5. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR OTHERS, BY REGION, 2024 - 2030 ($MILLION)
TABLE 6. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY END-USE, 2024 - 2030 ($MILLION)
TABLE 7. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR RESIDENTIAL, BY REGION, 2024 - 2030 ($MILLION)
TABLE 8. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR COMMERCIAL, BY REGION, 2024 - 2030 ($MILLION)
TABLE 9. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR INDUSTRIAL AND UTILITIES, BY REGION, 2024 - 2030 ($MILLION)
TABLE 10. VANADIUM REDOX FLOW BATTERY (VRB) MARKET, BY REGION, 2024 - 2030 ($MILLION)
TABLE 11. NORTH AMERICA VANADIUM REDOX FLOW BATTERY (VRB), BY COUNTRY, 2024 - 2030 ($MILLION)
TABLE 12. NORTH AMERICA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 13. NORTH AMERICA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 14. U.S. VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 15. U.S. VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 16. CANADA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 17. CANADA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 18. MEXICO VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 19. MEXICO VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 20. EUROPE VANADIUM REDOX FLOW BATTERY (VRB), BY COUNTRY, 2024 - 2030 ($MILLION)
TABLE 21. EUROPE VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 22. EUROPE VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 23. FRANCE VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 24. FRANCE VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 25. GERMANY VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 26. GERMANY VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 27. ITALY VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 28. ITALY VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 29. SPAIN VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 30. SPAIN VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 31. UK VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 32. UK VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 33. REST OF EUROPE VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 34. REST OF EUROPE VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 35. ASIA-PACIFIC VANADIUM REDOX FLOW BATTERY (VRB), BY COUNTRY, 2024 - 2030 ($MILLION)
TABLE 36. ASIA-PACIFIC VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 37. ASIA-PACIFIC VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 38. CHINA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 39. CHINA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 40. JAPAN VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 41. JAPAN VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 42. INDIA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 43. INDIA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 44. SOUTH KOREA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 45. SOUTH KOREA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 46. AUSTRALIA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 47. AUSTRALIA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 48. REST OF ASIA-PACIFIC VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 49. REST OF ASIA-PACIFIC VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 50. LAMEA VANADIUM REDOX FLOW BATTERY (VRB), BY COUNTRY, 2024 - 2030 ($MILLION)
TABLE 51. LAMEA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 52. LAMEA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 53. BRAZIL VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 54. BRAZIL VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 55. SOUTH AFRICA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 56. SOUTH AFRICA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 57. SAUDI ARABIA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 58. SAUDI ARABIA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 59. REST OF LAMEA VANADIUM REDOX FLOW BATTERY (VRB), BY APPLICATION, 2024 - 2030 ($MILLION)
TABLE 60. REST OF LAMEA VANADIUM REDOX FLOW BATTERY (VRB), BY END-USE, 2024 - 2030 ($MILLION)
TABLE 61. VRB ENERGY: KEY EXECUTIVES
TABLE 62. VRB ENERGY: COMPANY SNAPSHOT
TABLE 63. VRB ENERGY: OPERATING SEGMENTS
TABLE 64. VRB ENERGY: PRODUCT PORTFOLIO
TABLE 65. VRB ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 66. SUMITOMO ELECTRIC INDUSTRIES, LTD.: KEY EXECUTIVES
TABLE 67. SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 68. SUMITOMO ELECTRIC INDUSTRIES, LTD.: OPERATING SEGMENTS
TABLE 69. SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCT PORTFOLIO
TABLE 70. SUMITOMO ELECTRIC INDUSTRIES, LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 71. VFLOWTECH PTE LTD.: KEY EXECUTIVES
TABLE 72. VFLOWTECH PTE LTD.: COMPANY SNAPSHOT
TABLE 73. VFLOWTECH PTE LTD.: OPERATING SEGMENTS
TABLE 74. VFLOWTECH PTE LTD.: PRODUCT PORTFOLIO
TABLE 75. VFLOWTECH PTE LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 76. INVINITY ENERGY SYSTEMS: KEY EXECUTIVES
TABLE 77. INVINITY ENERGY SYSTEMS: COMPANY SNAPSHOT
TABLE 78. INVINITY ENERGY SYSTEMS: OPERATING SEGMENTS
TABLE 79. INVINITY ENERGY SYSTEMS: PRODUCT PORTFOLIO
TABLE 80. INVINITY ENERGY SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 81. STOREN TECHNOLOGIES: KEY EXECUTIVES
TABLE 82. STOREN TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 83. STOREN TECHNOLOGIES: OPERATING SEGMENTS
TABLE 84. STOREN TECHNOLOGIES: PRODUCT PORTFOLIO
TABLE 85. STOREN TECHNOLOGIES: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 86. DELECTRIK SYSTEMS PVT LTD: KEY EXECUTIVES
TABLE 87. DELECTRIK SYSTEMS PVT LTD: COMPANY SNAPSHOT
TABLE 88. DELECTRIK SYSTEMS PVT LTD: OPERATING SEGMENTS
TABLE 89. DELECTRIK SYSTEMS PVT LTD: PRODUCT PORTFOLIO
TABLE 90. DELECTRIK SYSTEMS PVT LTD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 91. AUSTRALIAN VANADIUM LIMITED: KEY EXECUTIVES
TABLE 92. AUSTRALIAN VANADIUM LIMITED: COMPANY SNAPSHOT
TABLE 93. AUSTRALIAN VANADIUM LIMITED: OPERATING SEGMENTS
TABLE 94. AUSTRALIAN VANADIUM LIMITED: PRODUCT PORTFOLIO
TABLE 95. AUSTRALIAN VANADIUM LIMITED: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 96. SHANGHAI ELECTRIC: KEY EXECUTIVES
TABLE 97. SHANGHAI ELECTRIC: COMPANY SNAPSHOT
TABLE 98. SHANGHAI ELECTRIC: OPERATING SEGMENTS
TABLE 99. SHANGHAI ELECTRIC: PRODUCT PORTFOLIO
TABLE 100. SHANGHAI ELECTRIC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 101. ENEROX GMBH: KEY EXECUTIVES
TABLE 102. ENEROX GMBH: COMPANY SNAPSHOT
TABLE 103. ENEROX GMBH: OPERATING SEGMENTS
TABLE 104. ENEROX GMBH: PRODUCT PORTFOLIO
TABLE 105. ENEROX GMBH: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 106. LARGO INC.: KEY EXECUTIVES
TABLE 107. LARGO INC.: COMPANY SNAPSHOT
TABLE 108. LARGO INC.: OPERATING SEGMENTS
TABLE 109. LARGO INC.: PRODUCT PORTFOLIO
TABLE 110. LARGO INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 111. H2, INC.: KEY EXECUTIVES
TABLE 112. H2, INC.: COMPANY SNAPSHOT
TABLE 113. H2, INC.: OPERATING SEGMENTS
TABLE 114. H2, INC.: PRODUCT PORTFOLIO
TABLE 115. H2, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 116. LE SYSTEM CO., LTD.: KEY EXECUTIVES
TABLE 117. LE SYSTEM CO., LTD.: COMPANY SNAPSHOT
TABLE 118. LE SYSTEM CO., LTD.: OPERATING SEGMENTS
TABLE 119. LE SYSTEM CO., LTD.: PRODUCT PORTFOLIO
TABLE 120. LE SYSTEM CO., LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 121. HUNAN YINFENG NEW ENERGY CO., LTD.: KEY EXECUTIVES
TABLE 122. HUNAN YINFENG NEW ENERGY CO., LTD.: COMPANY SNAPSHOT
TABLE 123. HUNAN YINFENG NEW ENERGY CO., LTD.: OPERATING SEGMENTS
TABLE 124. HUNAN YINFENG NEW ENERGY CO., LTD.: PRODUCT PORTFOLIO
TABLE 125. HUNAN YINFENG NEW ENERGY CO., LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 1. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET SEGMENTATION
FIGURE 2. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET
FIGURE 3. SEGMENTATION VANADIUM REDOX FLOW BATTERY (VRB) MARKET
FIGURE 4. TOP INVESTMENT POCKET IN VANADIUM REDOX FLOW BATTERY (VRB) MARKET
FIGURE 5. MODERATE BARGAINING POWER OF BUYERS
FIGURE 6. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 7. MODERATE THREAT OF NEW ENTRANTS
FIGURE 8. LOW THREAT OF SUBSTITUTION
FIGURE 9. HIGH COMPETITIVE RIVALRY
FIGURE 10. OPPORTUNITIES, RESTRAINTS AND DRIVERS: GLOBALVANADIUM REDOX FLOW BATTERY (VRB) MARKET
FIGURE 11. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET SEGMENTATION, BY APPLICATION
FIGURE 12. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR RENEWABLE ENERGY, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 13. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR TELECOMMUNICATION AND DATA CENTRES, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 14. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR EV CHARGING, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 15. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR OTHERS, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 16. GLOBAL VANADIUM REDOX FLOW BATTERY (VRB) MARKET SEGMENTATION, BY END-USE
FIGURE 17. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR RESIDENTIAL, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 18. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR COMMERCIAL, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 19. VANADIUM REDOX FLOW BATTERY (VRB) MARKET FOR INDUSTRIAL AND UTILITIES, BY COUNTRY, 2024 - 2030 ($MILLION)
FIGURE 20. TOP WINNING STRATEGIES, BY YEAR, 2021-2023*
FIGURE 21. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2021-2023*
FIGURE 22. TOP WINNING STRATEGIES, BY COMPANY, 2021-2023*
FIGURE 23. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 24. COMPETITIVE DASHBOARD
FIGURE 25. COMPETITIVE HEATMAP: VANADIUM REDOX FLOW BATTERY (VRB) MARKET
FIGURE 26. TOP PLAYER POSITIONING, 2023
FIGURE 27. VRB ENERGY: NET SALES, 2021-2023 ($MILLION)
FIGURE 28. VRB ENERGY: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 29. VRB ENERGY: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 30. SUMITOMO ELECTRIC INDUSTRIES, LTD.: NET SALES, 2021-2023 ($MILLION)
FIGURE 31. SUMITOMO ELECTRIC INDUSTRIES, LTD.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 32. SUMITOMO ELECTRIC INDUSTRIES, LTD.: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 33. VFLOWTECH PTE LTD.: NET SALES, 2021-2023 ($MILLION)
FIGURE 34. VFLOWTECH PTE LTD.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 35. VFLOWTECH PTE LTD.: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 36. INVINITY ENERGY SYSTEMS: NET SALES, 2021-2023 ($MILLION)
FIGURE 37. INVINITY ENERGY SYSTEMS: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 38. INVINITY ENERGY SYSTEMS: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 39. STOREN TECHNOLOGIES: NET SALES, 2021-2023 ($MILLION)
FIGURE 40. STOREN TECHNOLOGIES: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 41. STOREN TECHNOLOGIES: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 42. DELECTRIK SYSTEMS PVT LTD: NET SALES, 2021-2023 ($MILLION)
FIGURE 43. DELECTRIK SYSTEMS PVT LTD: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 44. DELECTRIK SYSTEMS PVT LTD: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 45. AUSTRALIAN VANADIUM LIMITED: NET SALES, 2021-2023 ($MILLION)
FIGURE 46. AUSTRALIAN VANADIUM LIMITED: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 47. AUSTRALIAN VANADIUM LIMITED: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 48. SHANGHAI ELECTRIC: NET SALES, 2021-2023 ($MILLION)
FIGURE 49. SHANGHAI ELECTRIC: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 50. SHANGHAI ELECTRIC: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 51. ENEROX GMBH: NET SALES, 2021-2023 ($MILLION)
FIGURE 52. ENEROX GMBH: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 53. ENEROX GMBH: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 54. LARGO INC.: NET SALES, 2021-2023 ($MILLION)
FIGURE 55. LARGO INC.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 56. LARGO INC.: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 57. H2, INC.: NET SALES, 2021-2023 ($MILLION)
FIGURE 58. H2, INC.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 59. H2, INC.: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 60. LE SYSTEM CO., LTD.: NET SALES, 2021-2023 ($MILLION)
FIGURE 61. LE SYSTEM CO., LTD.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 62. LE SYSTEM CO., LTD.: REVENUE SHARE, BY REGION, 2023 (%)
FIGURE 63. HUNAN YINFENG NEW ENERGY CO., LTD.: NET SALES, 2021-2023 ($MILLION)
FIGURE 64. HUNAN YINFENG NEW ENERGY CO., LTD.: REVENUE SHARE, BY SEGMENT, 2023 (%)
FIGURE 65. HUNAN YINFENG NEW ENERGY CO., LTD.: REVENUE SHARE, BY REGION, 2023 (%)

Companies Mentioned

  • VRB Energy
  • Sumitomo Electric Industries, Ltd.
  • VFlowTech Pte Ltd.
  • Invinity Energy Systems
  • StorEn Technologies
  • Delectrik Systems Pvt Ltd
  • Australian Vanadium Limited
  • Shanghai Electric
  • Enerox GmbH
  • Largo Inc.
  • H2, Inc.
  • LE SYSTEM CO., Ltd.
  • Hunan Yinfeng New Energy Co., Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages246
PublishedJune 2024
Forecast Period2023 - 2033
Estimated Market Value ( USD ) in 2023 $ 188.7 million
Forecasted Market Value ( USD ) by 2033 $ 808.7 million
Compound Annual Growth Rate15.7%
Regions CoveredGlobal
No. of Companies Mentioned13

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