Press release
Global All-Vanadium Redox Flow Batteries Market Outlook 2022
The all-vanadium redox 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.Japan is the largest All-Vanadium Redox Flow Batteries market with about 39% market share. China is follower, accounting for about 34% market share.The key manufacturers are Sumitomo Electric Industries, Rongke Power, UniEnergy Technologies, Vionx Energy, Big Pawer, Invinity Energy Systems, Golden Energy Fuel Cell, H2, Inc., Australian Vanadium etc. Top 3 companies occupied about 76% market share.
Market Analysis and Insights: Global All-Vanadium Redox Flow Batteries Market
The global All-Vanadium Redox Flow Batteries market was valued at US$ 155.9 million in 2020 and it is expected to reach US$ 257.3 million by the end of 2027, growing at a CAGR of 7.3% during 2021-2027.
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Segment by Type
Carbon Paper Electrode
Graphite Felt Electrode
Segment by Application
Large-Scale Energy Storage
Uninterruptible Power Supply
Others
BY COMPANY
Sumitomo Electric Industries
Rongke Power
UniEnergy Technologies
Vionx Energy
Big Pawer
Invinity Energy Systems
Golden Energy Fuel Cell
H2, Inc.
Australian Vanadium
Production by Region
North America
Europe
China
Japan
South Korea
Australia
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
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SIMILAR REPORT
https://reports.valuates.com/market-reports/QYRE-Auto-10A13412/global-zinc-bromine-flow-battery
https://reports.valuates.com/market-reports/QYRE-Auto-38M4810/global-vanadium-redox-battery-vrb
https://reports.valuates.com/market-reports/ALLI-Manu-4U20/redox-flow-battery
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