QYResearch Reviewed: In 2017, Global Revenue of Vanadium Redox Battery is nearly 2584.04 M USD Custom Research｜Research Report｜Management Consulting｜Seminar｜Database
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QYResearch
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.
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QYResearch
According to QYResearch, In the last several years, Global market of Vanadium Redox Battery developed rapidly, with an average growth rate of 97.47%. In 2017, Global Revenue of Vanadium Redox Battery is nearly 2584.04 M USD; the actual production is about 994.41 MW.. The global average price of Vanadium Redox Battery is in the decreasing trend, from 3891USD/KW in 2012 to 2829 USD/KW in 2017. With the situation of global economy, prices will be in decreasing trend in the following five years. The classification of Vanadium Redox Battery includes Carbon Paper Electrode and Graphite Felt Electrode, and the proportion of Carbon Paper Electrode in 2017 is about 29.28%, and the proportion is in decreasing trend from 2012 to 2017. Vanadium Redox Battery is widely used in Large-Scale Energy Storage, Uninterruptible Power Supply and other field. The most proportion of Vanadium Redox Battery is Large-Scale Energy Storage, and the revenue in 2017 is 2580.17 M USD. The trend of Large-Scale Energy Storage is increasing. w w w. q y r e s e a r c h . c o m
QYResearch
North America is the largest supplier of Vanadium Redox Battery, with a production market share nearly 37.10% in 2017. China is the second largest supplier of Vanadium Redox Battery Media, enjoying production market share nearly 36.41% in 2016. North America is the largest consumption place, with a consumption market share nearly 50.43% in 2017. Following North America, Europe is the second largest consumption place with the consumption market share of 23.68%.
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QYResearch
Market competition is not intense. UniEnergy Technologies, Rongke Power, Sumitomo Electric Industries, etc. are the leaders of the industry, and they have been formed in the monopoly position in the industry.
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