India Vanadium Market Size & Outlook, 2025-2030
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India vanadium market highlights
- The India vanadium market generated a revenue of USD 160.6 million in 2024 and is expected to reach USD 197.8 million by 2030.
- The India market is expected to grow at a CAGR of 3.5% from 2025 to 2030.
- In terms of segment, steel was the largest revenue generating application in 2024.
- Energy Storage is the most lucrative application segment registering the fastest growth during the forecast period.
Vanadium market data book summary
| Market revenue in 2024 | USD 160.6 million |
| Market revenue in 2030 | USD 197.8 million |
| Growth rate | 3.5% (CAGR from 2025 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Energy Storage |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Steel, Non-ferrous Alloys, Chemicals, Energy Storage |
| Key market players worldwide | AMG Advanced Metallurgical Group, Aura Energy Limited, Australian Vanadium Ltd, Bushveld Minerals, EVRAZ Group, Glencore PLC, HBIS, Largo Resources Ltd, Vanadium Resources |
Other key industry trends
- In terms of revenue, India accounted for 5.9% of the global vanadium market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China vanadium market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 197.8 million by 2030.
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Vanadium Market Scope
Vanadium Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Vanadium Resources | View profile | 1-10 | Altona, South Australia, Australia, Oceania | https://vr8.global/ |
| Largo Resources Ltd | View profile | 251-500 | Toronto, Ontario, Canada, North America | https://www.largoinc.com/overview/default.aspx |
| Bushveld Minerals | View profile | 501-1000 | Johannesburg, NA - South Africa, South Africa, Africa | http://www.bushveldminerals.com/ |
| Aura Energy Limited | View profile | 1-10 | Victoria Park, Queensland, Australia, Oceania | http://www.auraenergy.com.au |
| EVRAZ Group | View profile | 10001+ | London, England, United Kingdom, Europe | https://www.evraz.com |
| AMG Advanced Metallurgical Group | View profile | 1001-5000 | Amsterdam, Noord-Holland, The Netherlands, Europe | https://amg-nv.com |
| Australian Vanadium Ltd | View profile | 2 | 50 Kings Park Road, Level 2, Perth, WA, Australia, 6005 | https://www.australianvanadium.com.au |
| HBIS | View profile | 51-100 | Waxahachie, Texas, United States, North America | https://www.hbisonline.com |
| Glencore PLC | View profile | 83426 | Baarermattstrasse 3, Baar, Switzerland, CH-6340 | https://www.glencore.com |
India vanadium market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vanadium market will help companies and investors design strategic landscapes.
Steel was the largest segment with a revenue share of 92.03% in 2024. Horizon Databook has segmented the India vanadium market based on steel, non-ferrous alloys, chemicals, energy storage covering the revenue growth of each sub-segment from 2018 to 2030.
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Horizon Databook provides a detailed overview of country-level data and insights on the India vanadium market , including forecasts for subscribers. This country databook contains high-level insights into India vanadium market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India vanadium market size, by application, 2018-2030 (US$M)
India Vanadium Market Outlook Share, 2024 & 2030 (US$M)
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