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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

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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.
Sodium-ion Battery Market
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.

Sodium-ion Battery Market


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 coveredBy Product, By Technology, By Application, By Industry Vertical
 Regions coveredNorth America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredAltris 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:
By Product:
  • Sodium-Oxygen (Sodium Air) Batteries
  • Sodium-Salt Batteries (Zebra Batteries)
  • Sodium-Sulfur Batteries
    		•
    By Technology:
  • Aqueous
  • Non-aqueous
    		•
    By Application:
  • Stationary Energy Storage
  • Transportation
    		•
    By Industry Vertical:
  • Aerospace & Defense
  • Automobile & Transportation
  • Consumer Electronic Devices
  • Grid-Level Applications
  • Industrial
  • Marine
  • Power Backup
    		•
    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 report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Sodium-ion Battery Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Sodium-ion Battery Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. 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, 2023-2033
    7.2. Sodium-Oxygen (Sodium Air) Batteries
    7.3. 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, 2023-2033
    8.2. Aqueous
    8.3. 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, 2023-2033
    9.2. Stationary Energy Storage
    9.3. 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, 2023-2033
    10.2. Aerospace & Defense
    10.3. Automobile & Transportation
    10.4. Consumer Electronic Devices
    10.5. Grid-Level Applications
    10.6. Industrial
    10.7. Marine
    10.8. Power Backup
    10.9. 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-Pacific
    16.3.1. Australia
    16.3.2. China
    16.3.3. India
    16.3.4. Japan
    16.3.5. South Korea
    16.3.6. Rest of Asia-Pacific
    16.4. Europe
    16.4.1. France
    16.4.2. Germany
    16.4.3. Italy
    16.4.4. Spain
    16.4.5. United Kingdom
    16.4.6. Rest of Europe
    16.5. Middle East and Africa
    16.5.1. Kingdom of Saudi Arabia 
    16.5.2. United Arab Emirates
    16.5.3. Rest of Middle East & Africa
    16.6. North America
    16.6.1. Canada
    16.6.2. Mexico
    16.6.3. United States
    16.7. Latin America
    16.7.1. Argentina
    16.7.2. Brazil
    16.7.3. Rest of Latin America

    17. Company Profile
    17.1. Altris AB
    17.1.1. Company details
    17.1.2. Financial outlook
    17.1.3. Product summary 
    17.1.4. Recent developments
    17.2. AMTE Power plc
    17.2.1. Company details
    17.2.2. Financial outlook
    17.2.3. Product summary 
    17.2.4. Recent developments
    17.3. Aquion Energy
    17.3.1. Company details
    17.3.2. Financial outlook
    17.3.3. Product summary 
    17.3.4. Recent developments
    17.4. Blackstone Technology GmbH
    17.4.1. Company details
    17.4.2. Financial outlook
    17.4.3. Product summary 
    17.4.4. Recent developments
    17.5. BLUETTI Power Inc.
    17.5.1. Company details
    17.5.2. Financial outlook
    17.5.3. Product summary 
    17.5.4. Recent developments
    17.6. Contemporary Amperex Technology Co. Limited (CATL)
    17.6.1. Company details
    17.6.2. Financial outlook
    17.6.3. Product summary 
    17.6.4. Recent developments
    17.7. Faradion Limited
    17.7.1. Company details
    17.7.2. Financial outlook
    17.7.3. Product summary 
    17.7.4. Recent developments
    17.8. HiNa Battery Technology Co., Ltd
    17.8.1. Company details
    17.8.2. Financial outlook
    17.8.3. Product summary 
    17.8.4. Recent developments
    17.9. Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy)
    17.9.1. Company details
    17.9.2. Financial outlook
    17.9.3. Product summary 
    17.9.4. Recent developments
    17.10. Jiangsu Zhongna Energy Technology Co., Ltd.
    17.10.1. Company details
    17.10.2. Financial outlook
    17.10.3. Product summary 
    17.10.4. Recent developments
    17.11. Li-FUN Technology Corporation Limited
    17.11.1. Company details
    17.11.2. Financial outlook
    17.11.3. Product summary 
    17.11.4. Recent developments
    17.12. Natron Energy, Inc.
    17.12.1. Company details
    17.12.2. Financial outlook
    17.12.3. Product summary 
    17.12.4. Recent developments
    17.13. NEI Corporation
    17.13.1. Company details
    17.13.2. Financial outlook
    17.13.3. Product summary 
    17.13.4. Recent developments
    17.14. Tiamat Energy
    17.14.1. Company details
    17.14.2. Financial outlook
    17.14.3. Product summary 
    17.14.4. Recent developments
    17.15. 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.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3

    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.
    "You can get the sample pages by clicking the link -Click Here"
    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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