Global Vanadium Redox Battery Market 2017-2021

  • ID: 4199082
  • Report
  • Region: Global
  • 70 pages
  • TechNavio
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FEATURED COMPANIES

  • Australian Vanadium
  • Bushveld Energy
  • Cellennium (Thailand)
  • Prudent Energy
  • Redflow
  • redT energy
  • MORE
Vanadium redox battery is a secondary battery that uses liquid electrolyte instead of electrolyte plates for storing energy. These batteries are used in energy storage systems as a replacement for standard batteries such as lead-acid and lithium-ion (Li-ion) batteries. These batteries provide a minimum of 25 years of service without any maintenance, which gives vanadium redox batteries an edge over other battery technologies.

The analysts forecast the global vanadium redox battery market to grow at a CAGR of 8.5% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global vanadium redox battery market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

- Americas
- APAC
- EMEA

The report, Global Vanadium Redox Battery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- GILDEMEISTER energy solutions
- redT energy
- UniEnergy Technologies
- VanadiumCorp Resource
- Vionx Energy

Other prominent vendors
- Australian Vanadium
- Bushveld Energy
- Cellennium (Thailand)
- Prudent Energy
- Redflow
- Sparton Resources
- Sumitomo Electric Industries

Market drivers
- Growing demand for power backup solutions.
- For a full, detailed list, view the full report

Market challenges
- Technical challenges related to vanadium redox batteries.
- For a full, detailed list, view the full report

Market trends
- Increasing applications of vanadium redox batteries.
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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FEATURED COMPANIES

  • Australian Vanadium
  • Bushveld Energy
  • Cellennium (Thailand)
  • Prudent Energy
  • Redflow
  • redT energy
  • MORE
PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction
  • Key market highlights
PART 05: Market landscape
  • Market overview
  • Market size and forecast
  • Five forces analysis
PART 06: Market segmentation by application
  • Global vanadium redox battery market by application
  • Global vanadium redox battery market by renewable solutions segment
  • Global redox vanadium battery market by others segment
PART 07: Geographical segmentation
  • Global vanadium redox battery market by geography
  • Vanadium redox battery market in Americas
  • Vanadium redox battery market in EMEA
  • Vanadium redox battery market in APAC
PART 08: Decision framework

PART 09: Drivers and challenges
  • Market drivers
  • Impact of drivers on key customer segments
  • Market challenges
  • Impact of challenges on key customer segments
PART 10: Market trends
  • Increasing investments in renewable energy
  • Rise in telecom installations in rural areas
  • Growing need for electrification
  • Increasing applications of vanadium redox batteries
PART 11: Vendor landscape
  • Competitive landscape
  • Other prominent vendors
PART 12: Key vendor analysis
  • GILDEMEISTER energy solutions
  • redT energy
  • UniEnergy Technologies
  • VanadiumCorp Resource
  • Vionx Energy
PART 13: Appendix
  • List of abbreviations
List of Exhibits

Exhibit 01: Comparison between Li-ion and vanadium redox batteries
Exhibit 02: Schematic diagram of vanadium redox battery
Exhibit 03: Flow diagram of vanadium redox battery
Exhibit 04: Segmentation of global vanadium redox battery market
Exhibit 05: Global vanadium redox battery market 2016-2021 ($ millions)
Exhibit 06: Five forces analysis
Exhibit 07: Global vanadium redox battery market by application 2016-2021 (%)
Exhibit 08: Global vanadium redox battery market by application 2016-2021 ($ millions)
Exhibit 09: Global vanadium redox battery market by renewable solutions 2016-2021 ($ millions)
Exhibit 10: Solar and wind power integrated with vanadium redox battery system diagram
Exhibit 11: Global vanadium redox battery market by others segment 2016-2021 ($ millions)
Exhibit 12: Global vanadium redox battery market by geography for 2016-2021 (%)
Exhibit 13: Global vanadium redox battery market by geographical segmentation 2016-2021 ($ millions)
Exhibit 14: Vanadium redox battery market in Americas 2016-2021 ($ millions)
Exhibit 15: Vanadium redox battery market in EMEA 2016-2021 ($ millions)
Exhibit 16: Vanadium redox battery market in APAC 2016-2021 ($ millions)
Exhibit 17: Share of fossil fuels in the global energy mix 2014 and 2035
Exhibit 18: Impact of drivers
Exhibit 19: Efficiency of various advanced storage systems
Exhibit 20: Impact of challenges
Exhibit 21: Global electrification rate
Exhibit 22: Other prominent vendors: vanadium redox battery manufacturers
Exhibit 23: GILDEMEISTER: Key Products
Exhibit 24: GILDEMEISTER: Key news
Exhibit 25: redT energy: Key products
Exhibit 26: redT energy: Key news
Exhibit 27: UniEnergy Technologies: Key products
Exhibit 28: UniEnergy Technologies: Key news
Exhibit 29: VanadiumCorp Resource: Key products
Exhibit 30: VanadiumCorp Resource: Key news
Exhibit 31: Vionx Energy: Key products
Exhibit 32: Vionx Energy: Key news
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FEATURED COMPANIES

  • Australian Vanadium
  • Bushveld Energy
  • Cellennium (Thailand)
  • Prudent Energy
  • Redflow
  • redT energy
  • MORE
New Report Released: - Global Vanadium Redox Battery Market 2017-2021

The author of the report recognizes the following companies as the key players in the global vanadium redox battery market: GILDEMEISTER energy solutions, redT energy, UniEnergy Technologies, VanadiumCorp Resource, and Vionx Energy.

Other Prominent Vendors in the market are: Australian Vanadium, Bushveld Energy, Cellennium (Thailand), Prudent Energy, Redflow, Sparton Resources, and Sumitomo Electric Industries.

Commenting on the report, an analyst from the research team said: “One trend in market is increasing investments in renewable energy. The cost of producing electricity using renewable energy is still relatively expensive when compared with conventional power generation. However, renewable technology is maturing due to which the gap between conventional and renewable fuels has significantly reduced, making them competitive with newly built fossil fuel power plants. The competitive cost of producing electricity and the low carbon emitting nature of renewable technology have led to continuous investments in renewable energy globally.

To encourage the use of renewable power, governments of various countries support renewable energy production by providing grants, incentives, feed-in tariffs, and others. As renewable sources of energy such as solar, wind, and hydro are intermittent in nature, they have less potential as a standalone power system. To overcome this issue, the renewable sources are combined and used in a hybrid form to supply continuous, reliable power, which is proven to be beneficial in remote areas, especially in the telecom industry where it is adopted extensively. Vendors such as WindStream Technologies have developed SolarMill, a 2.5 kW hybrid power system, which combines solar (1.5 kW) and wind (1 kW) resources. It can be fixed atop rooftops to generate electricity. Government initiatives/incentives and unique product solutions will lead to the higher adoption of hybrid power systems globally.”

According to the report, one driver in market is environmental impact of battery disposal. The demand for lead-acid batteries has increased with the growth in the automotive and other industries. In addition, there are increased battery energy storage applications for hybrid Electric vehicles and renewable power generation. However, the growing production of lead-acid batteries has raised environmental concerns over lead pollution. Battery production involves the use of toxic materials because of the lack of safer substitutes. Battery production requires a large quantity of lead, a portion of which often mixes with the discharged fumes. This leads to air pollution, resulting in health problems. To curb lead poisoning, the Chinese government has shut down majority of its lead-acid battery plants and has also enforced stringent regulations, standards for battery production and disposal. Improper battery disposal in landfills can result in lead and sulfuric content seeping into the groundwater and contaminating it. Hence, a proper management system for battery disposal is required to ensure the safety of people and the environment.

Further, the report states that one challenge in market is declining Li-ion battery prices. Li-ion batteries have higher energy densities compared with lead-acid batteries or nickel-metal hydride (NiMH) batteries. Having high energy density means that the battery can store more electricity in the same size cell with reduced carbon footprint. This is what makes the Li-ion batteries ideal for use in industrial applications and others such as energy storage in renewable energy projects and electric vehicles. Li-ion battery prices have been exhibiting a declining trend since 2007. The cost of battery packs has decreased by about 53% from 2007 to 2015.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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  • GILDEMEISTER energy solutions
  • redT energy
  • UniEnergy Technologies
  • VanadiumCorp Resource
  • Vionx Energy
  • Australian Vanadium
  • Bushveld Energy
  • Cellennium (Thailand)
  • Prudent Energy
  • Redflow
  • Sparton Resources
  • Sumitomo Electric Industries
Note: Product cover images may vary from those shown
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