Lewes, DE -- (SBWIRE) -- 04/21/2017 -- Report forecast the global vanadium redox battery market to grow at a CAGR of 8.5% during the period 2017-2021.

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 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

According to the report, one driver in market is environemtal 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.

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 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.

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

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

Market trend
- Increasing applications of vanadium redox batteries.
- For a full, detailed list, view our 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?

Spanning over 70 pages and 32 Exhibits "Global Vanadium Redox Battery Market 2017 - 2021" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-vanadium-redox-battery-market-2017-2021

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