Sodium-ion Battery Market Growth, Size, Trends, Demand, Revenue, Challenges and Future Outlook
Sodium-ion Battery Market Size- By Product, By Technology, By Application, By Industry Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: CHEM23102 | Pages: 1 - 234 | Formats*: |
| Category : Chemical & Materials | |||
Sodium-ion Battery Market Introduction and Overview
According to SPER Market Research, the Global Sodium-ion Battery Market is estimated to reach USD 5.74 billion by 2033 with a CAGR of 19.5%.
The report includes an in-depth analysis of the Global Sodium-ion Battery Market, including market size and trends, product mix, Applications, and supplier analysis. One form of rechargeable energy storage system that uses sodium ions (Na+) as the main charge carriers is the sodium-ion battery. Because of the abundance of sodium supplies and possible cost savings, it is utilised as a lithium-ion battery substitute. During discharge in a sodium-ion battery, sodium ions flow through an electrolyte from the cathode to the anode, producing an electric current. This technique is inverted when charging. The technology is a promising option for a number of uses, including electric vehicles and renewable energy storage, due to its scalability and compatibility with the current battery manufacturing infrastructure.
- October 2022: For the monumental 690 MW Gemini Solar and Storage Project, a firm named CATL signs a sole battery supply contract with Primergy Solar.
- Natron Energy and Virtual Power Systems collaborated to integrate Natron's sodium-ion technology with VPS's ICE Platform, expanding VPS's Software Defined Power ecosystem to meet the needs for flexible power distribution.
Market Opportunities and Challenges
Sodium-ion batteries are non-flammable, have a high energy density, and perform well in lower temperatures. Compared to lithium-ion batteries, these batteries are less expensive and more widely available. The total cost of an electric car is impacted by the fact that sodium-ion batteries are produced at a far lower cost overall than lithium-ion batteries. As a result, sodium-ion batteries are more in demand since they are less expensive than lithium-ion batteries in electric vehicles. Sodium-ion batteries offer advantages that is propelling the market for sodium-ion batteries to grow.
Energy density, however, becomes a crucial factor to take into account when making decisions when battery capacity is constrained but required energy output is considerable. Sodium-ion batteries have a lower energy density than lithium-ion batteries. This will likely have an effect on the sodium-ion battery business. Since sodium-ion technology is still in its research and development phase. It's likely that this challenge will be solved shortly. The lack of a robust industrial supply chain hinders the active use of sodium-ion batteries, which restricts the market's growth. Compared with lithium metal, sodium metal weighs more. Consequently, there is little use of sodium batteries in electric vehicles. The sodium-ion battery industry is being restricted by these factors.
Market Competitive Landscape
The major players in the market include: Altris AB, AMTE Power plc, Aquion Energy, Blackstone Technology GmbH, BLUETTI Power Inc., Contemporary Amperex Technology Co. Limited (CATL), Faradion Limited, HiNa Battery Technology Co., Ltd, Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy), Jiangsu Zhongna Energy Technology Co., Ltd., Li-FUN Technology Corporation Limited, Natron Energy, Inc., NEI Corporation, Tiamat Energy, Others. The need for affordable and reliable batteries has increased as a result of the increased investment in solar and wind power plants and the growing demand for environmentally friendly power generation. Key advancements in the global sodium ion battery market trends have been attained through additional growth strategies like increasing storage capacities, acquisitions, partnerships, and research and innovation in the optimisation and improvement of the efficiency and reliability of sodium-ion batteries.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By Technology, By Application, By Industry Vertical |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Altris AB, AMTE Power plc, Aquion Energy, Blackstone Technology GmbH, BLUETTI Power Inc., Contemporary Amperex Technology Co. Limited (CATL), Faradion Limited, HiNa Battery Technology Co., Ltd, Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy), Jiangsu Zhongna Energy Technology Co., Ltd., Li-FUN Technology Corporation Limited, Natron Energy, Inc., NEI Corporation, Tiamat Energy, Others |
COVID-19 Impact on Global Sodium-ion Battery Market
The COVID-19 pandemic caused a surge in stationary energy storage device demand, particularly UPS systems, due to remote work. However, global industrial facility shutdowns delayed solar and wind power plant construction, reducing the need for sodium-ion battery-based storage. Fossil fuel demand declined while renewable energy demand soared, emphasizing the necessity for high-capacity energy storage systems to optimize renewable sources. This shift creates opportunities for the energy storage market, particularly in renewable power plants.
Key Target Audience:
- Automotive Industry
- Battery Manufacturers
- Electronics Industry
- Energy Sector
- Energy Storage Companies
- Supply Chain and Raw Material Suppliers
- Others
Our in-depth analysis of the Sodium-ion Battery Market includes the following segments:
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| By Technology: |
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| By Application: |
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Key Topics Covered in the Report:
- Global Sodium-ion Battery Market Size (FY’2023-FY’2033)
- Overview of Global Sodium-ion Battery Market
- Segmentation of Global Sodium-ion Battery Market By Product (Sodium-Oxygen Batteries, Sodium-Salt Batteries, Sodium-Sulfur Batteries)
- Segmentation of Global Sodium-ion Battery Market By Technology (Aqueous, Non-aqueous)
- Segmentation of Global Sodium-ion Battery Market By Application (Stationary Energy Storage, Transportation)
- Segmentation of Global Sodium-ion Battery Market By Industry Vertical (Aerospace & Defense, Automobile & Transportation, Consumer Electronic Devices, Grid-Level Applications, Industrial, Marine, Power Backup, Others)
- Statistical Snap of Global Sodium-ion Battery Market
- Expansion Analysis of Global Sodium-ion Battery Market
- Problems and Obstacles in Global Sodium-ion Battery Market
- Competitive Landscape in the Global Sodium-ion Battery Market
- Impact of COVID-19 and Demonetization on Global Sodium-ion Battery Market
- Details on Current Investment in Global Sodium-ion Battery Market
- Competitive Analysis of Global Sodium-ion Battery Market
- Prominent Players in the Global Sodium-ion Battery Market
- SWOT Analysis of Global Sodium-ion Battery Market
- Global Sodium-ion Battery Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Sodium-ion Battery Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Sodium-ion Battery Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Sodium-ion Battery Market
7. Global Sodium-ion Battery Market, By Product (USD Million)
7.1. Global Sodium-ion Battery Market Value Share and Forecast, By Product, 2023-20337.2. Sodium-Oxygen (Sodium Air) Batteries7.3. Sodium-Salt Batteries (Zebra Batteries)7.4. Sodium-Sulfur Batteries
8. Global Sodium-ion Battery Market, By Technology (USD Million)
8.1. Global Sodium-ion Battery Market Value Share and Forecast, By Technology, 2023-20338.2. Aqueous8.3. Non-aqueous
9. Global Sodium-ion Battery Market, By Application (USD Million)
9.1. Global Sodium-ion Battery Market Value Share and Forecast, By Application, 2023-20339.2. Stationary Energy Storage9.3. Transportation
10. Global Sodium-ion Battery Market, By Industry Vertical (USD Million)
10.1. Global Sodium-ion Battery Market Value Share and Forecast, By Industry Vertical, 2023-203310.2. Aerospace & Defense10.3. Automobile & Transportation10.4. Consumer Electronic Devices10.5. Grid-Level Applications10.6. Industrial10.7. Marine10.8. Power Backup10.9. Others
11. Global Sodium-ion Battery Market Forecast, 2019-2033 (USD Million)
11.1. Global Sodium-ion Battery Market Size and Market Share
12. Global Sodium-ion Battery Market, By Product, 2019-2033 (USD Million)
12.1. Global Sodium-ion Battery Market Size and Market Share By Product (2019-2026)12.2. Global Sodium-ion Battery Market Size and Market Share By Product (2027-2033)
13. Global Sodium-ion Battery Market, By Technology, 2019-2033 (USD Million)
13.1. Global Sodium-ion Battery Market Size and Market Share By Technology (2019-2026)13.2. Global Sodium-ion Battery Market Size and Market Share By Technology (2027-2033)
14. Global Sodium-ion Battery Market, By Application, 2019-2033 (USD Million)
14.1. Global Sodium-ion Battery Market Size and Market Share By Application (2019-2026)14.2. Global Sodium-ion Battery Market Size and Market Share By Application (2027-2033)
15. Global Sodium-ion Battery Market, By Industry Vertical, 2019-2033 (USD Million)
15.1. Global Sodium-ion Battery Market Size and Market Share By Industry Vertical (2019-2026)15.2. Global Sodium-ion Battery Market Size and Market Share By Industry Vertical (2027-2033)
16. Global Sodium-ion Battery Market, By Region, 2019-2033 (USD Million)
16.1. Global Sodium-ion Battery Market Size and Market Share By Region (2019-2026)16.2. Global Sodium-ion Battery Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Altris AB17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. AMTE Power plc17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. Aquion Energy17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. Blackstone Technology GmbH17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. BLUETTI Power Inc.17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. Contemporary Amperex Technology Co. Limited (CATL)17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. Faradion Limited17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. HiNa Battery Technology Co., Ltd17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy)17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. Jiangsu Zhongna Energy Technology Co., Ltd.17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. Li-FUN Technology Corporation Limited17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments17.12. Natron Energy, Inc.17.12.1. Company details17.12.2. Financial outlook17.12.3. Product summary17.12.4. Recent developments
17.13. NEI Corporation
17.13.1. Company details17.13.2. Financial outlook17.13.3. Product summary
17.13.4. Recent developments
17.14. Tiamat Energy17.14.1. Company details17.14.2. Financial outlook17.14.3. Product summary17.14.4. Recent developments17.15. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Sodium-ion Battery Market is projected to reach USD 5.74 billion by 2033, growing at a CAGR of 19.5% during the forecast period.
Sodium-ion Battery Market grew in market size from 2023. The Market is expected to reach USD 5.74 billion by 2033, at a CAGR of 19.5% during the forecast period.
Sodium-ion Battery Market CAGR of 19.5% during the forecast period.
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Sodium-ion Battery Market size is USD 5.74 billion from 2023 to 2033.
Sodium-ion Battery Market Segment is Covered By Product, By Technology, By Application, By Industry Vertical
The North America region is anticipated to have the highest market share in Sodium-ion Battery Market.
The key players in the market include Companies Covered Altris AB, AMTE Power plc, Aquion Energy, Blackstone Technology GmbH, BLUETTI Power Inc., Contemporary Amperex Technology Co. Limited (CATL), Faradion Limited, HiNa Battery Technology Co., Ltd, Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy), Jiangsu Zhongna Energy Technology Co., Ltd., Li-FUN Technology Corporation Limited, Natron Energy, Inc., NEI Corporation, Tiamat Energy, Others
One form of rechargeable energy storage system that uses sodium ions (Na+) as the main charge carriers is the sodium-ion battery.
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