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Vanadium Redox Flow Battery (VRB) Market By Application (Renewable Energy, Telecommunication and Data Centres, EV Charging, Others), By End-Use (Residential, Commercial, Industrial and Utilities) : Global Opportunity Analysis and Industry Forecast, 2024-2030

June 2024 | 246 pages | ID: VE7D948E3CC8EN
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Vanadium Redox Battery (VRB) Market

The global vanadium redox battery (VRB) market was valued at $188.7 million in 2023 and is projected t%li%reach $808.7 million by 2033, growing at a CAGR of 15.7% from 2024 t%li%2033.

VRB is a rechargeable flow battery that employs vanadium ions in various oxidation states for the storage of potential energy. The vanadium ions g%li%through redox reactions while charging or discharging, utilizing an ion-exchange membrane t%li%transfer electrons between the tw%li%electrolyte solutions. The technology utilized in VRB offers scalability, high energy efficiency, and long cycle life; making it appropriate for several energy storage solutions, including renewable energy integration, grid energy storage, and backup power systems.

The deployment of energy grid in renewable energy sources such as solar and wind is on the surge. This is increasing the demand for efficient energy storage mechanisms, hence augmenting the growth of the vanadium redox battery (VRB) market. VRBs are critical for regulating fluxes in renewable energy generation, ensuring reliable power supply, and stabilizing the grid. In recent times, research for the introduction of innovative electrolyte formulations in VRBs is gaining pace. The scientists aim t%li%introduce electrolytes with formulations which lower self-discharge rates, elevate energy density, and enhance overall efficiency.

However, the lack of recycling infrastructure is a significant restraint of the vanadium redox battery (VRB) market. Long-range sustainability of VRBs relies on efficient recycling as they require specialized recycling processes t%li%restore vanadium electrolytes and other valuables. The shortage of devoted facilities presents significant challenges in the management of perishing batteries and extraction of valuable components for reuse. On the contrary, the rapid adoption of electric vehicles (EVs) is presenting a lucrative opportunity for the expansion of the vanadium redox battery (VRB) market. According t%li%Internation Energy Agency, the sale of EVs in the first quarter of 2024 exceeded the annual total from four years ago.

Segment Review

The vanadium redox battery (VRB) market is segmented int%li%application, end-use, and region. By application, the market is divided int%li%renewable energy (solar, wind energy, and others), telecommunication & data centers, EV charging, and others. As per end-use, it is categorized int%li%residential, commercial, and industrial & utilities. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By application, the renewable energy segment is expected t%li%dominate the market throughout the forecast period.

As per end-use, the industrial & utilities segment is anticipated t%li%be the highest shareholder during the forecast period.

Region wise, Asia-Pacific is projected t%li%be the highest revenue generator by 2033.

Competition Analysis

The major players operating in the vanadium redox battery (VRB) market includes VRB ENERGY, Sumitom%li%Electric Industries, Ltd., VFlowTech Pte Ltd., Invinity Energy Systems, StorEn Technologies, Delectrik Systems Pvt Ltd, Australian Vanadium Limited, Shanghai Electric, Enerox GmbH, Larg%li%Inc., H2, Inc., LE SYSTEM CO., Ltd., Hunan Yinfeng New Energy Co., Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships t%li%strengthen their foothold in the market.

Additional benefits you will get with this purchase are:
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      • 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting t%li%16 analyst hours t%li%solve questions, and post-sale queries)
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Possible Customization with this report (with additional cost and timeline, please talk t%li%the sales executive t%li%know more)
  • Manufacturing Capacity
  • Product Life Cycles
  • Supply Chain Analysis & Vendor Margins
  • Upcoming/New Entrant by Regions
      • G%li%T%li%Market Strategy
  • Market share analysis of players by products/segments
  • Patient/epidemiology data at country, region, global level
  • Regulatory Guidelines
    • Additional company profiles with specific t%li%client's interest
  • Additional country or region analysis- market size and forecast
  • Average Selling Price Analysis / Price Point Analysis
  • Brands Share Analysis
  • Criss-cross segment analysis- market size and forecast
  • Expanded list for Company Profiles
  • Historic market data
  • Import Export Analysis/Data
  • Key player details (including location, contact details, supplier/vendor network etc. in excel format)
  • List of customers/consumers/raw material suppliers- value chain analysis
  • Market share analysis of players at global/region/country level
  • Per Capita Consumption Trends
  • Product Consumption Analysis
  • Reimbursement Scenario
  • SWOT Analysis
  • Volume Market Size and Forecast
Key Market Segments

By Application
  • Renewable Energy
  • Solar
  • Wind
  • Others
  • Telecommunication and Data Centres
  • EV Charging
  • Others
By End-Use
  • Residential
  • Commercial
  • Industrial and Utilities
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA
  • Key Market Players
  • VRB Energy
    • Sumitom%li%Electric Industries, Ltd.
  • VFlowTech Pte Ltd.
  • Invinity Energy Systems
  • StorEn Technologies
  • Delectrik Systems Pvt Ltd
  • Australian Vanadium Limited
  • Shanghai Electric
  • Enerox GmbH
    • Larg%li%Inc.
  • H2, Inc.
  • LE SYSTEM CO., Ltd.
  • Hunan Yinfeng New Energy Co., Ltd.
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: SULPHUR RECOVERY MARKET, BY TECHNOLOGY

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Technology
4.2. Claus Process
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Claus Tail Gas Treatment (TGT)
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country
4.4. Others
  4.4.1. Key Market Trends, Growth Factors and Opportunities
  4.4.2. Market Size and Forecast, By Region
  4.4.3. Market Share Analysis, By Country

CHAPTER 5: SULPHUR RECOVERY MARKET, BY FEEDSTOCK

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Feedstock
5.2. Crude Oil
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Natural Gas
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country
5.4. Coal
  5.4.1. Key Market Trends, Growth Factors and Opportunities
  5.4.2. Market Size and Forecast, By Region
  5.4.3. Market Share Analysis, By Country
5.5. Biomass
  5.5.1. Key Market Trends, Growth Factors and Opportunities
  5.5.2. Market Size and Forecast, By Region
  5.5.3. Market Share Analysis, By Country
5.6. Others
  5.6.1. Key Market Trends, Growth Factors and Opportunities
  5.6.2. Market Size and Forecast, By Region
  5.6.3. Market Share Analysis, By Country

CHAPTER 6: SULPHUR RECOVERY MARKET, BY END-USE INDUSTRY

6.1. Market Overview
  6.1.1 Market Size and Forecast, By End-use Industry
6.2. Oil And Gas
  6.2.1. Key Market Trends, Growth Factors and Opportunities
  6.2.2. Market Size and Forecast, By Region
  6.2.3. Market Share Analysis, By Country
6.3. Chemical Industry
  6.3.1. Key Market Trends, Growth Factors and Opportunities
  6.3.2. Market Size and Forecast, By Region
  6.3.3. Market Share Analysis, By Country
6.4. Mining
  6.4.1. Key Market Trends, Growth Factors and Opportunities
  6.4.2. Market Size and Forecast, By Region
  6.4.3. Market Share Analysis, By Country
6.5. Others
  6.5.1. Key Market Trends, Growth Factors and Opportunities
  6.5.2. Market Size and Forecast, By Region
  6.5.3. Market Share Analysis, By Country

CHAPTER 7: SULPHUR RECOVERY MARKET, BY REGION

7.1. Market Overview
  7.1.1 Market Size and Forecast, By Region
7.2. North America
  7.2.1. Key Market Trends and Opportunities
  7.2.2. Market Size and Forecast, By Technology
  7.2.3. Market Size and Forecast, By Feedstock
  7.2.4. Market Size and Forecast, By End-use Industry
  7.2.5. Market Size and Forecast, By Country
  7.2.6. U.S. Sulphur Recovery Market
    7.2.6.1. Market Size and Forecast, By Technology
    7.2.6.2. Market Size and Forecast, By Feedstock
    7.2.6.3. Market Size and Forecast, By End-use Industry
  7.2.7. Canada Sulphur Recovery Market
    7.2.7.1. Market Size and Forecast, By Technology
    7.2.7.2. Market Size and Forecast, By Feedstock
    7.2.7.3. Market Size and Forecast, By End-use Industry
  7.2.8. Mexico Sulphur Recovery Market
    7.2.8.1. Market Size and Forecast, By Technology
    7.2.8.2. Market Size and Forecast, By Feedstock
    7.2.8.3. Market Size and Forecast, By End-use Industry
7.3. Europe
  7.3.1. Key Market Trends and Opportunities
  7.3.2. Market Size and Forecast, By Technology
  7.3.3. Market Size and Forecast, By Feedstock
  7.3.4. Market Size and Forecast, By End-use Industry
  7.3.5. Market Size and Forecast, By Country
  7.3.6. France Sulphur Recovery Market
    7.3.6.1. Market Size and Forecast, By Technology
    7.3.6.2. Market Size and Forecast, By Feedstock
    7.3.6.3. Market Size and Forecast, By End-use Industry
  7.3.7. Germany Sulphur Recovery Market
    7.3.7.1. Market Size and Forecast, By Technology
    7.3.7.2. Market Size and Forecast, By Feedstock
    7.3.7.3. Market Size and Forecast, By End-use Industry
  7.3.8. Italy Sulphur Recovery Market
    7.3.8.1. Market Size and Forecast, By Technology
    7.3.8.2. Market Size and Forecast, By Feedstock
    7.3.8.3. Market Size and Forecast, By End-use Industry
  7.3.9. Spain Sulphur Recovery Market
    7.3.9.1. Market Size and Forecast, By Technology
    7.3.9.2. Market Size and Forecast, By Feedstock
    7.3.9.3. Market Size and Forecast, By End-use Industry
  7.3.10. UK Sulphur Recovery Market
    7.3.10.1. Market Size and Forecast, By Technology
    7.3.10.2. Market Size and Forecast, By Feedstock
    7.3.10.3. Market Size and Forecast, By End-use Industry
  7.3.11. Rest of Europe Sulphur Recovery Market
    7.3.11.1. Market Size and Forecast, By Technology
    7.3.11.2. Market Size and Forecast, By Feedstock
    7.3.11.3. Market Size and Forecast, By End-use Industry
7.4. Asia-Pacific
  7.4.1. Key Market Trends and Opportunities
  7.4.2. Market Size and Forecast, By Technology
  7.4.3. Market Size and Forecast, By Feedstock
  7.4.4. Market Size and Forecast, By End-use Industry
  7.4.5. Market Size and Forecast, By Country
  7.4.6. China Sulphur Recovery Market
    7.4.6.1. Market Size and Forecast, By Technology
    7.4.6.2. Market Size and Forecast, By Feedstock
    7.4.6.3. Market Size and Forecast, By End-use Industry
  7.4.7. Japan Sulphur Recovery Market
    7.4.7.1. Market Size and Forecast, By Technology
    7.4.7.2. Market Size and Forecast, By Feedstock
    7.4.7.3. Market Size and Forecast, By End-use Industry
  7.4.8. India Sulphur Recovery Market
    7.4.8.1. Market Size and Forecast, By Technology
    7.4.8.2. Market Size and Forecast, By Feedstock
    7.4.8.3. Market Size and Forecast, By End-use Industry
  7.4.9. South Korea Sulphur Recovery Market
    7.4.9.1. Market Size and Forecast, By Technology
    7.4.9.2. Market Size and Forecast, By Feedstock
    7.4.9.3. Market Size and Forecast, By End-use Industry
  7.4.10. Australia Sulphur Recovery Market
    7.4.10.1. Market Size and Forecast, By Technology
    7.4.10.2. Market Size and Forecast, By Feedstock
    7.4.10.3. Market Size and Forecast, By End-use Industry
  7.4.11. Rest of Asia-Pacific Sulphur Recovery Market
    7.4.11.1. Market Size and Forecast, By Technology
    7.4.11.2. Market Size and Forecast, By Feedstock
    7.4.11.3. Market Size and Forecast, By End-use Industry
7.5. LAMEA
  7.5.1. Key Market Trends and Opportunities
  7.5.2. Market Size and Forecast, By Technology
  7.5.3. Market Size and Forecast, By Feedstock
  7.5.4. Market Size and Forecast, By End-use Industry
  7.5.5. Market Size and Forecast, By Country
  7.5.6. Brazil Sulphur Recovery Market
    7.5.6.1. Market Size and Forecast, By Technology
    7.5.6.2. Market Size and Forecast, By Feedstock
    7.5.6.3. Market Size and Forecast, By End-use Industry
  7.5.7. South Africa Sulphur Recovery Market
    7.5.7.1. Market Size and Forecast, By Technology
    7.5.7.2. Market Size and Forecast, By Feedstock
    7.5.7.3. Market Size and Forecast, By End-use Industry
  7.5.8. Saudi Arabia Sulphur Recovery Market
    7.5.8.1. Market Size and Forecast, By Technology
    7.5.8.2. Market Size and Forecast, By Feedstock
    7.5.8.3. Market Size and Forecast, By End-use Industry
  7.5.9. Rest of LAMEA Sulphur Recovery Market
    7.5.9.1. Market Size and Forecast, By Technology
    7.5.9.2. Market Size and Forecast, By Feedstock
    7.5.9.3. Market Size and Forecast, By End-use Industry

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023

CHAPTER 9: COMPANY PROFILES

9.1. Jacobs
  9.1.1. Company Overview
  9.1.2. Key Executives
  9.1.3. Company Snapshot
  9.1.4. Operating Business Segments
  9.1.5. Product Portfolio
  9.1.6. Business Performance
  9.1.7. Key Strategic Moves and Developments
9.2. Chiyoda Corporation
  9.2.1. Company Overview
  9.2.2. Key Executives
  9.2.3. Company Snapshot
  9.2.4. Operating Business Segments
  9.2.5. Product Portfolio
  9.2.6. Business Performance
  9.2.7. Key Strategic Moves and Developments
9.3. John Wood Group PLC
  9.3.1. Company Overview
  9.3.2. Key Executives
  9.3.3. Company Snapshot
  9.3.4. Operating Business Segments
  9.3.5. Product Portfolio
  9.3.6. Business Performance
  9.3.7. Key Strategic Moves and Developments
9.4. TechnipFMC Plc
  9.4.1. Company Overview
  9.4.2. Key Executives
  9.4.3. Company Snapshot
  9.4.4. Operating Business Segments
  9.4.5. Product Portfolio
  9.4.6. Business Performance
  9.4.7. Key Strategic Moves and Developments
9.5. Worley Parsons
  9.5.1. Company Overview
  9.5.2. Key Executives
  9.5.3. Company Snapshot
  9.5.4. Operating Business Segments
  9.5.5. Product Portfolio
  9.5.6. Business Performance
  9.5.7. Key Strategic Moves and Developments
9.6. Linde Plc
  9.6.1. Company Overview
  9.6.2. Key Executives
  9.6.3. Company Snapshot
  9.6.4. Operating Business Segments
  9.6.5. Product Portfolio
  9.6.6. Business Performance
  9.6.7. Key Strategic Moves and Developments
9.7. Fluor Corporation
  9.7.1. Company Overview
  9.7.2. Key Executives
  9.7.3. Company Snapshot
  9.7.4. Operating Business Segments
  9.7.5. Product Portfolio
  9.7.6. Business Performance
  9.7.7. Key Strategic Moves and Developments
9.8. KT-Kinetics Technology SpA
  9.8.1. Company Overview
  9.8.2. Key Executives
  9.8.3. Company Snapshot
  9.8.4. Operating Business Segments
  9.8.5. Product Portfolio
  9.8.6. Business Performance
  9.8.7. Key Strategic Moves and Developments
9.9. Bechtel Corporation
  9.9.1. Company Overview
  9.9.2. Key Executives
  9.9.3. Company Snapshot
  9.9.4. Operating Business Segments
  9.9.5. Product Portfolio
  9.9.6. Business Performance
  9.9.7. Key Strategic Moves and Developments
9.10. Honeywell International Inc.
  9.10.1. Company Overview
  9.10.2. Key Executives
  9.10.3. Company Snapshot
  9.10.4. Operating Business Segments
  9.10.5. Product Portfolio
  9.10.6. Business Performance
  9.10.7. Key Strategic Moves and Developments


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