Press release
All-vanadium Redox Flow Batteries Market Size Is Expected To Reach Us$ 6186 Million By The End Of 2026
Market Analysis and Insights: Global All-Vanadium Redox Flow Batteries MarketIn 2019, the global All-Vanadium Redox Flow Batteries market size was US$ 625.4 million and it is expected to reach US$ 6186 million by the end of 2026, with a CAGR of 38.3% during 2021-2026.
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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 average price of Vanadium Redox Battery (VRB) is in the decreasing trend, from 4505 USD/KW in 2012 to 1916 USD/KW In 2018. With the situation of the global economy, prices will be in a decreasing trend in the following five years.
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Global All Vanadium Redox Flow Battery Market Overview: 2026
This report focuses on All Vanadium Redox Flow Battery volume and value at global level, regional level and company level. From a global perspective, this report represents the overall All Vanadium Redox Flow Battery market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
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The following manufacturers are covered:
Sumitomo Electric
Dalian Rongke Power
Gildemeister
UniEnergy Technologies
Primus Power
redTENERGY Storage
EnSync
Segment by Regions
North America
Europe
China
Japan
Segment by Type
Graphene Electrode
Carbon Felt Electrode
Segment by Application
Utilities
Commercial & Industrial
Military
EV Charging Station
Others
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