Report Code: A10129 | Pages: NA | ||
Tables: NA | Charts: NA |
|
The vanadium redox battery (VRB) is a rechargeable flow battery that releases vanadium ions in different oxidation states for the storage of chemical potential energy. The battery utilizes the capacity of vanadium ions to exist in a compound in four distinct oxidation states. The battery has just one electro-active element, which is vanadium, instead of two. Currently, vanadium redox flow batteries are mostly used for grid energy storage due to their relatively heavy size. The high capacity of these batteries makes them suitable for storage of energy. In addition, rising electrification and modification, particularly for micro-hybrid and electric vehicles, are leading to the growing inclination toward absorbent glass mat (AGM) battery and enhanced flooded battery (EFB). Moreover, the increasing adoption rate of these batteries in passenger vehicles is expected to drive the vanadium redox battery (VRB) market during the forecast period.
COVID-19 scenario analysis:
The top impacting factors of the market are regulatory push toward efficient technologies and global measures by OEMs to increase customer's preference toward electric vehicles (EVs). However, the higher cost of electronic power steering (EPS) as compared to traditional steering systems and lack of steering feel are expected to restrain the growth of the market. Furthermore, penetration in commercial vehicles and enabling advanced driver-assistance systems (ADAS) features in EPS are anticipated to create new opportunities for the market growth.
The vanadium redox battery (VRB) market trends are as follows:
Manufacturing companies are regularly innovating advanced techniques to enhance customer's luxury in their vehicles. Efficient technology is attributed to the boom in vehicle production and sales in developing economies such as China and India. In addition, the safety and security feature has been prioritized as there are increasing accidents. Therefore, companies are adapting to a better safety system, which is expected to further propel the second-life electric vehicle battery market growth over the forecast period.
Automobile manufacturers are incorporating several systems in vehicles to attract the attention of more customers by advancing their design or implementing new strategies for the vehicles. Advanced features are no longer restricted to premium vehicles. They are further developed to regular running vehicles as well. Consumers are now more concerned about the afterlife, reselling of the vehicle, and technological advancement. Therefore, they are more interested in opting for vehicles that are equipped with better resources and are expected to propel the second-life electric vehicle battery market growth over the forecast period.
Key benefits of the report:
Questions answered in the market research report:
Vanadium Redox Battery (VRB) Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Sales Channel |
|
By Application |
|
By Region |
|
Key Market Players | Panasonic Corporation, GS Yuasa, BYD Co. Ltd, EnerSys, Robert Bosch GmbH, Johnson Controls, EXIDE Technologies, Delphi Automotive LLP, East Penn Manufacturing Company, Saft Groupe SA |
Loading Table Of Content...
Start reading.
This Report and over 71,229+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time for readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers