Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Vanadium Redox Battery: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Vanadium Redox Battery estimated at US$237.5 Million in the year 2022, is projected to reach a revised size of US$1.3 Billion by 2030, growing at a CAGR of 24.1% over the analysis period 2022-2030.
Graphite Felt Electrodes, one of the segments analyzed in the report, is projected to record 24.7% CAGR and reach US$1 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the CARBON PAPER ELECTRODES segment is readjusted to a revised 22.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $52 Million, While China is Forecast to Grow at 29.1% CAGR
The Vanadium Redox Battery market in the U.S. is estimated at US$52 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$221 Million by the year 2030 trailing a CAGR of 29.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 22.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 22.3% CAGR.
Select Competitors (Total 26 Featured) -
- Big Pawer Electrical Technology Xiangyang Inc. Co., Ltd.
- CellCube Energy Storage Systems Inc.
- Dalian Rongke Power Co., Ltd.
- H2, Inc.
- HydraRedox Iberia S.L.
- Invinity Energy Systems PLC
- LE SYSTEM CO., Ltd.
- Pinflow energy storage, s.r.o.
- StorEn Technologies Inc.
- Storion Energy
- Sumitomo Electric Industries, Ltd.
- UniEnergy Technologies LLC
- VisBlue A/S
- VoltStorage GmbH
- VRB Energy
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $237.5 Million |
| Forecasted Market Value (USD) by 2030 | $1300 Million |
| Compound Annual Growth Rate | 23.7% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Global Reduction in CAPEX (in %) by Industry for FY2020
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- Global PMI Index Points for the Years 2018, 2019 & 2020
- COVID-19 Crisis Underlines the Need for Sustainable Development
- A World in the Midst of a Pandemic Throws Energy Demand into Crisis & Leaves Energy Investments in Shambles: Percentage Share of Energy Use Impacted by Lockdowns
- COVID-19 Pandemic Impacts Vanadium Redox Battery Market
- Global Investments in Clean Energy & Efficiency Technologies (In US$ Billion) for the Years 2018, 2019 & 2020
- An Introduction to Vanadium Redox Batteries
- Global Reserves of Vanadium in Thousand Metric Tons by Major Countries: (2019)
- Total Electrical Energy Stored Over Lifetime of Storage Technology
- Key Components & Operating Principle of Vanadium Redox Batteries
- Advantages and Benefits
- Easy Recyclability
- Other Major Redox Flow Batteries
- Vanadium Redox Battery (VRB): Market Overview and Outlook
- World Vanadium Redox Battery Market by Type (2020 & 2027): Percentage Breakdown of Sales for Graphite Felt Electrodes, and Carbon Paper Electrodes
- World Vanadium Redox Battery Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Large-Scale Energy Storage, Uninterruptible Power Supply (UPS), and Emergency Power Supply
- Recent Market Activity
- Select Innovations & Advancements by Market Participants
- Regional Analysis
- World Vanadium Redox Battery Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
- World Vanadium Redox Battery Market - Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Rest of World, USA, Canada, Europe, and Japan
- Vanadium Redox Battery - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Vanadium Flow Batteries: Unveiling the Much Needed Energy Storage Breakthrough
- Development in Electric Cars to Generate Demand
- UPS: Major Consumer of Vanadium Redox Batteries
- World Uninterruptible Power Supply (UPS) Systems Market in US$ Million for Years 2018, 2020 and 2025
- Rental Model Seeks to Improve Project Economics
- Military Microgrids: A Niche Application Segment
- Vanadium Redox Flow Batteries Benefit Energy-Deprived Areas
- Intermittent Nature of Renewable Energy Favors Market Adoption
- Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
- Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022
- Grid Modernization Programs Emphasize Grid Connected Energy Storage
- Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2019
- Grid Reliability Assurances Promote Uptake
- Strong Smart City Investments to Fuel Large-Scale Adoption
- Number of Smart Cities Worldwide by Geographic Region (2025)
- Smart Grids Elevate Market Prospects
- Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Percentage Breakdown of Cumulative Spending for Asia-Pacific (incl. China), Europe, Latin America, and North America
- Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
- Established Image of Lithium-ion Batteries Dampens Market Momentum
- Organic Mega Flow Battery: A Low-Cost Alternative
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/jv0z58
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