New Delhi, Nov 12 (PTI) India’s vanadium redox flow battery market valued at USD 70 million, is all set to surge 12 per cent annually, which will be driven by rising demand for long-duration energy storage
for integrating renewables, according to a report by Customized Energy Solutions on Wednesday.
The Customized Energy Solutions (CES) is an energy advisory, software, and services company that works closely with clients to navigate the wholesale and retail electricity markets across the United States and globally, as per a statement.
The global vanadium redox flow battery (VRFB) market, valued around USD 1 billion in 2024, is projected to reach USD 3 billion by 2030, as the global energy transition accelerates and long-duration energy storage (LDES) becomes the backbone of renewable integration and grid resilience, it said.
Among emerging technologies, Vanadium Redox Flow Batteries (VRFBs) are gaining global attention for their safety, durability, and recyclability.
India’s vanadium redox flow battery (VRFB) sector is evolving rapidly from pilot installations to early-stage commercialisation, valued at approximately USD 70 million in 2025.
The country’s VRFB market is projected to grow at 12 per cent annually, driven by the country’s push for long-duration energy storage (LDES) to support the integration of large-scale renewables, according to the CES report.
The report highlighted that the global VRFB market potential is expected to grow from 6 GWh in 2025 to 40 GWh by 2030.
However, vanadium electrolyte remains a key cost driver as it can make up about 35 per cent of system cost.
CES Managing Director Vinayak Walimbe said in the statement, “India is at a pivotal moment in its energy transition, and the rapid commercialisation of advanced battery technologies, including VRFB technology, will be crucial for integrating renewables and ensuring grid reliability. With strong policy backing and local manufacturing momentum, India is poised to become a global leader in long-duration energy storage.” While lithium-ion batteries will dominate short-duration and high-power applications, VRFBs are set to capture market share in the 6-10+ hour storage segment thanks to their durability, scalability, and superior thermal stability, it stated.
Currently, India imports most of its vanadium from countries like China, South Africa, and Russia.
However, new efforts are underway to tap domestic resources, with the Geological Survey of India, identifying deposits in Arunachal Pradesh, Odisha, and Karnataka, it stated.
Collaborations like VFlowTech-IIT Delhi are pioneering vanadium recovery from refinery waste and fly ash.
These initiatives, backed by the National Energy Storage Mission, could enable partial localisation of vanadium supply by 2030, further reducing costs and strengthening India’s long-duration storage ecosystem. PTI KKS TRB
