Both the materials are used for improved mechanical properties/strength/toughness. But mechanism as well as temperature for achieving improved properties are different. However, in general, requirement of Nb will be around 50% that of V in a particular grade. For example if for a particular grade V is .04/.05%, then it can be replaced by .02/.03% Nb. But because of different strengthening mechanism, beyond 0.05%V requirement for a particular grade , generally both the elements are to be considered during alloy design keeping in view the application as well as rolling mill load condition for a particular shop/plant