Sodium-air Battery Market Share, Revenue, Trends, Growth Strategy, Opportunities, Challenges, Key Players and Future Competition Till 2033


Sodium-air Battery Market Share, Revenue, Trends, Growth Strategy, Opportunities, Challenges, Key Players and Future Competition Till 2033: SPER Market Research

 Category : Chemical & Materials

 Published: Oct-2023
 Author: SPER Analyst

Global Sodium-air Battery Market is projected to be worth USD XX billion by 2033 and is anticipated to surge at a CAGR of XX%.

Lithium-ion batteries are currently employed in many different industries; sodium-air batteries are seen as possible substitutes. The Earth's crust is rich in metals, such as iron, zinc, aluminium, and others. Therefore, research and development of strong metal-air batteries is a primary priority for several energy storage firms.  Compared to lithium-ion batteries, sodium-air batteries are less expensive to manufacture. The energy density of sodium is approximately 1600−1. Moreover, sodium-air batteries have a lower energy cost than lithium-ion batteries.

Global Sodium-air Battery Market Driving Factors and Challenges
The growing number of people using portable electronic devices has increased the demand for fresher, lighter, smaller batteries with excellent energy density and cycle life. Many academic institutes worldwide are working on metal-air battery research and development. In the near future, this is anticipated to fuel the expansion of the sodium-air battery industry. Governments across the globe are making substantial investments in sustainable energy solutions in order to meet their energy needs and reduce their carbon emissions. This has forced a number of battery producers to look for energy generating and storage solutions other than fossil fuels and lithium-ion batteries. 

There is a global shortage of lithium and cobalt deposits. Thus, it is anticipated that a spike in funding for the development of reliable and sustainable energy storage technologies will improve sodium-air batteries market dynamics in the next few years. Moreover, the sodium-air batteries' high energy density makes it easier to use them in wholesale energy markets. Sodium-air batteries can also be useful in remote locations with erratic electrical infrastructure. These benefits are anticipated to drive the sodium-air battery market's growth over the coming few years.

However, there are several challenges that limit the expansion of Global Sodium-air Battery market. Sodium-ion batteries are less capable of holding energy per unit weight than other popular batteries, such as lithium batteries, due to their lower energy density. One of its main disadvantages is this. They also last shorter time and are less effective. Therefore, during the projected period, this factor is expected to limit the growth of the sodium-air battery market. Furthermore, there is currently a lack of widespread usage for sodium-air batteries because they are still being researched and developed. As of right now, lead-ion and lithium-ion batteries are important, albeit their share is expected to grow. Furthermore, because sodium ions are bigger than lithium ions, they are heavier and less mobile in liquid electrolytes. Usually, three times the weight of lithium is found in salt. This element will therefore prevent the market from growing. 

Impact of COVID-19 on Global Sodium-air Battery Market
The global sodium-air battery market experienced several disruptions due to the COVID-19 epidemic. Disruptions in the supply chain limited the overall supply by impeding the fabrication of battery components. Reduced demand and possible financing divergence from clean energy technology were the results of economic uncertainty. Funding cuts and facility closures hampered research and development efforts. Notwithstanding, the pandemic underscored the significance of robust energy storage technologies, which may subsequently spark sustained curiosity in sodium-air batteries. In the post-pandemic environment, sustained investment and support will be necessary to fully influence the market's growth and acceptance.

Sodium-air Battery Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; De Nora Tech Inc., Ev Dynamics (Holdings) Limited, Faradion, Fuji Pigment Co., Ltd., Natron Energy, Phinergy, PolyPlus, Xinjiang Joinworld Co., Ltd., Others.

Global Sodium-air Battery Market Segmentation:

By Electrolyte: Based on the Electrolyte, Global Sodium-air Battery Market is segmented as; Aqueous, Non-aqueous.

By End User: Based on the End User, Global Sodium-air Battery Market is segmented as; Automotive, Consumer Electronics, Defense, Power, Utility Energy Storage, Others.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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