Vanadium Redox Battery Market is Anticipated to Grow at a CAGR of 43.7% During the Forecast Period 2018-2025
Planet Market Reports has added a report, titled, “ Vanadium Redox BatteryMarket Analysis 2012-2017 and Forecast 2018-2023”. The research provides a detailed analysis of major segments, key market players, and countries & regions for the historic period, 2012–2017, and the forecast period, 2018–2023.
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.
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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 2016. With the situation of global economy, prices will be in decreasing trend in the following five years.
The classification of Vanadium Redox Battery VRB includes Carbon Paper Electrode and Graphite Felt Electrode, and the proportion of Graphite Felt Electrode in 2016 is about 55%, and the proportion is in increasing trend from 2012 to 2016.
Vanadium Redox Battery VRB is widely used for Large Scale Energy Storage, Uninterruptible Power Supply and other field. The most proportion of Vanadium Redox Battery VRB is Large Scale Energy Storage, and the proportion in 2016 is 52%.
Over the next five years, LPILP Information projects that Vanadium Redox Battery VRB All Vanadium Redox Flow Batteries will register a 43.7% CAGR in terms of revenue, reach US$ 2800 million by 2023, from US$ 320 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Vanadium Redox Battery VRB All Vanadium Redox Flow Batteries market by product type, application, key manufacturers and key regions.
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To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Carbon Paper Electrode
Graphite Felt Electrode
Segmentation by application:
LargeScale Energy Storage
Uninterruptible Power Supply
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Sumitomo Electric Industries
Golden Energy Fuel Cell
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An extensive analysis of marketing and price is provided based on price & margin and marketing channels. Price & margin analysis is provided on the basis of price trends, factors responsible for price change, and gross margin analysis of market players. A table enlists price factors. Upstream analysis and cost analysis are outlined in the research. Upstream segments are analyzed in a tabular format. Industry environment is offered in the study based on policy, economics, sociology, and technology. Research conclusions are mentioned at the end of the study.
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