Sodium Ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Sodium Ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • August 2022 •
  • 142 pages •
  • Report ID: 6313621 •
  • Format: PDF
The global sodium ion battery market reached a value of US$ 253.44 Million in 2021. Looking forward, the analyst expects the market to reach a value of US$ 577.41 Million by 2027, exhibiting a CAGR of 13.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Sodium-ion batteries store energy by fusing electrical and chemical energy into each other. They rely on the reversible movement of ions between two electrodes with the help of electrolytes for efficient operation. They offer several benefits, such as superior environmental credentials, enhanced safety, and better raw material costs compared to lithium-ion (Li-ion) batteries. As they are made from materials that are energy dense, non-flammable, and operate well in colder temperatures, sodium-ion batteries find application in the transportation, defense, aerospace, marine, and energy industries across the globe.

Sodium Ion Battery Market Trends:
Due to the growing greenhouse gas emissions, there is a rise in the demand for cleaner energy around the world. This, along with the increasing utilization of sodium-ion batteries to store electricity generated through solar or wind energy, represents one of the key factors driving the market. Moreover, the rising awareness among the masses about the benefits of sodium-ion batteries, such as high energy density, low charging time, and a high number of charging cycles, is propelling the growth of the market. In addition, governments of several countries are promoting the production of renewable energy to provide reliable power supplies and fuel diversification, which enhance energy security, lower the risk of fuel spills, and reduce the need for imported fuels. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce enhanced stationary energy storage, which is expected to influence the market positively. Furthermore, the escalating demand for electric vehicles (EVs) due to zero tailpipe emissions of air pollutants, such as nitrogen oxides (NOx) and particles, is also projected to bolster the growth of the market.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global sodium ion battery market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and application.

Breakup by Type:
Sodium-Sulphur Battery
Sodium-Salt Battery
Sodium-Air Battery

Breakup by Application:
Stationary Energy Storage

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Altris AB, AMTE Power plc, Aquion Energy, Faradion Limited, HiNa Battery Technology Co. Ltd., Natron Energy Inc., NEI Corporation, NGK Insulators Ltd. and Tiamat Energy.

Key Questions Answered in This Report:

How has the global sodium ion battery market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global sodium ion battery market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global sodium ion battery market and who are the key players?
What is the degree of competition in the industry?