Acumen Research and Consulting Vanadium Market Size 2018 - 2026 | Page 2

highway haul trucks working in such mines. For instance, the RioTintomine has employed robotic rock drilling machines and driverless trucks to tow the vanadium ore for 24 hours and reported more than 20% reduction in the overall operating expenses. Free Download Sample Report Pages for Better Understanding@https://www.acumenresearchandconsulting.com/request -sample/1293 Asia-Pacific region is anticipated to dominate the global vanadium market over the forecast period on account of increasing demand for vanadium redox flow batteries across newer and more advanced energy storage stations. Also, increasing focus on expanding the production capacities especially in China is a key aspect anticipated to drive the Asia-Pacific vanadium market. Demand to increase by increasing adoption of flow batteries Rising requirement of power backup as well as increasing demand for flow batteries from automotive industry especially in the technologically advanced electric vehicles is a major factor likely to provide lucrative growth opportunities for the global vanadium market growth worldwide. Increasing urbanization, shift in consumer lifestyle, rising digitization trends, growth in sales of various electronic devices such as laptops, electronic toys, mobiles, etc. are anticipated to contribute to the growth of global vanadium industry to a great extent. Additionally, rising usage of vanadium redox flow batteries in widespread applications including the telecom industry as well as goods engineering will further boost its significance across global end users. Various manufacturers are coming with a wide number of innovative and advanced designs majorly for electronic devices. Thus, using vanadium redox flow batteries in such devices, the demand for vanadium across the globe is expected to exponentially rise over the forecast period. Would like to place an order or any question, please feel free to contact at [email protected] | [phone]