Market Insights
“The sodium-ion battery market value was US$ 0.6 Billion in 2023 and is likely to grow at a decent CAGR of 20.7% in the long run to reach US$ 2.2 Billion in 2030.”
Market Dynamics
Introduction
The Sodium-Ion Battery Market is centered on the creation and promotion of battery solutions based on sodium ions as the charge transfer species. These batteries have been regarded as an affordable and environment-friendly power source in contrast to lithium-ion ones because of sodium. Although they are currently under research for other uses including massive storage of energy and possibly electric vehicles there are shortcomings including lower density energy than that of lithium-ion batteries.
Despite the fact that new opportunities are being studied in such areas as mass storage of energy and electric vehicles, they have shortcomings, for example, reduced energy density compared to lithium-ion batteries. They are still developed and researched in order to refine them for usage in different fields as well.
Segments Analysis
|
Segmentations
|
List of Sub-Segments
|
Segments with High Growth Opportunity
|
|
By Battery Type
|
Sodium-Sulfur, Sodium-Air, and Sodium-Salt
|
Sodium sulfur is expected to dominate the market.
|
|
By Technology Type
|
Aqueous and Non-Aqueous
|
Aqueous is expected to maintain its dominance over the forecasted period.
|
|
By End-Use Type
|
Energy Storage, Automotive, Industrial, and Consumer Electronics
|
Automotive is expected to be the dominant end-use of the market over the forecast period.
|
|
By Region
|
North America, Europe, Asia Pacific, and Rest of the World
|
The European region is expected to dominate the market in the forecasted period.
|
By Battery Type
“Sodium-sulfur is expected to dominate the market”.
- Compared with other sodium-based battery types, Sodium-Sulfur batteries have higher energy density This makes the battery suitable for stationary energy storage such as grid energy storage for renewable energy such as wind and solar power.
- Sodium-sulfur batteries have been out in the market and under tests much longer than lithium-ion batteries and as a result, are more reliable and have a tested performance, especially in large-scale stationary storage.
- They have high cycle efficiency and this means that there is a long cycle life whereby the battery can be charged and discharged severally without much depreciation; which is very desirable for energy storage systems that need to last for long.
By Technology Type
“Aqueous is expected to maintain its dominance over the forecasted period”.
- Aqueous sodium-ion batteries utilize water-solvable electrolytes, which pose a relatively lower risk than the organic electrolytes utilized in other batteries. This has made them less hazardous in the case of a fire or an explosion which has made them suitable for commercial and Industries.
- A consequence of this is that the role of water as an electrolyte has the effect of keeping the cost of production low. Compared to the non-aqueous batteries, the aqueous sodium-ion batteries are comparatively cheaper because the water for electrolyte offers better them but much cheaper material than the solvents utilized in it.
- Sodium-ion batteries in the water phase are less hazardous compared to many organic electrolytes that are toxic and flammable in nature used in the other types of batteries. This sustainability advantage corresponds to the trend to shift towards cleaner energy supply across the world.
By End-Use Type
“Automotive is expected to dominate”.
- Sodium-ion batteries are also becoming increasingly associated with green automobile production as the industry goes green. They do not depend on certain scarce and environmentally degradable materials which go well with the current push for green vehicle solutions.
- Sodium-ion batteries are safer for several reasons, including the fact that sodium is much cheaper than lithium, thus making sodium-ion batteries an ideal solution for EV automakers who are striving to bring down the cost of batteries and make EVs more accessible to consumers.
- Aqueous sodium-ion batteries have immense potential when compared with lithium-ion batteries because they are safer due to minimizing the risk of the battery catching fire or overheating which is paramount in cars.
Regional Analysis
“The European region is expected to dominate the market in the forecasted period”.
- The demand for EVs is soaring in Europe, and sodium-ion Batteries provide a cheap and environmentally friendly way of powering cars hence are a good option for car makers in Europe to help them cut costs while at the same time addressing environmental concerns.
- Europe contains several top research establishments as well as companies that actively work on the enhancement of battery and Sodium-ion battery technology in particular. This great R&D basis has greatly promoted the commercialization of sodium-ion batteries in this area.
Due to rules addressing climate change, Europe has set high targets of emulation cut and similarly, the energy requirements of sodium-ion batteries can be considered more sustainable than lithium-ion batteries, which are a norm in EVs.
Key Players
The market is highly fragmented with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Sodium-Ion Battery Market.
Here is the list of the Top Players (Based on Dominance)
- Faradion
- Contemporary Amperex Technology Co., Ltd.
- Tiamet Energy
- HiNa Battery Technology Co., Ltd.
- Jiangsu Zoolnasm Energy Technology Co Ltd
Note: The above list does not necessarily include all the top players of the market.
Are you the leading player in this market? We would love to include your name. Write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The sodium-ion battery market is segmented into the following categories.
Sodium-Ion Battery Market, by Battery Type
- Sodium-Sulfur (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Sodium-Air (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Sodium-Salt (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Sodium-Ion Battery Market, by Technology Type
- Aqueous (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Non-Aqueous (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Sodium-Ion Battery Market, by End-Use Type
- Energy Storage (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Consumer Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Sodium-Ion Battery Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Sodium-Ion Battery Market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
