Global Vanadium Redox Battery Market Report 2023: Intermittent Nature of Renewable Energy Favors Market Adoption
Global Market for Vanadium Redox Battery
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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