Sodium-Ion Battery Market

The Global Demand for Global Sodium-Ion Battery Market In Terms Of Revenue Was Worth of USD 70.29 Million in 2020 and is expected to reach USD 141.16 Million in 2027, growing at a CAGR of 11.34% from 2021 to 2027. The global sodium-ion battery market is expected to grow at significant growth rate due to number of driving factors.

Scope of Sodium-Ion Battery Market:

Sodium-ion batteries (SIB) are a type of rechargeable metal-ion battery that uses sodium ions as charge carriers. Sodium ions are profoundly active and good carrier of charge, which makes the sodium ion batteries an efficient power storage alternative. These batteries have been identified as the most captivating alternative form of energy storage systems. Easy availability and accessibility of sodium are also supplementing the demand for sodium-ion batteries. These batteries are favorable options for those applications, wherein the degree of compactness is of least importance. Charging the battery forces sodium-ions to de-intercalate from the cathode and migrate toward the anode. Sodium-ion batteries have eminent electrochemical quality in terms of charge-discharge, reversibility, and high specific discharge capacity. These batteries have recently gained commercialization status. Thus, the sodium-ion batteries market is expected to expand significantly in the near future.

Factors such as increasing demand for cleaner energy with rising greenhouse gas emissions around the world is contributing to the global sodium ion battery market growth. For instance; According to the International Energy Agency (IEA) report, In Q1 2020, the global use of renewable energy was 1.5% higher than in Q1 2019. The increase was driven by a rise of about 3% in renewable electricity generation after more than 100 GW of solar PV and about 60 GW of wind power projects were completed in 2019. By 2050, solar PV, wind, and hydro, together, are estimated to produce approximately 80% of the global electricity generation. In 2019, renewable electricity generation rose 6%, with wind and solar PV technologies together accounting for 64% of this increase. Although the share of renewable in global electricity generation reached almost 27% in 2019, renewable power as a whole still needs to expand significantly to meet the SDS share of almost half of generation by 2030. This requires the rate of annual capacity additions to accelerate.

Additionally, according to the Centre for Climate and Energy Solutions Carbon dioxide emissions report; primarily the combustion of fossil fuels, have risen dramatically since the start of the industrial revolution. Most recently in 2019, global carbon dioxide emissions reached a record high of 36 Million metric tons. Greenhouse gases such as carbon dioxide trap heat within Earth’s atmosphere by absorbing energy and preventing heat from escaping into space. As the sodium-ion battery is an alternative with additional benefits, storing the energy of solar and wind, thus it is expected to have an opportunity with the growing solar and wind energy market.

Sodium-Ion Battery Companies

• Faradion Limited
• AGM Batteries Ltd
• NGK Insulators Ltd
• TIAMAT SAS
• HiNa Battery Technology Co. Ltd
• Altris AB
• Natron Energy Inc.
• Others

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Global Sodium-Ion Battery Market Segmentation Analysis:

The study provides a crucial view of global sodium ion battery market by segmenting the market based on product type, end-user and region & country level. Based upon product type, the market is segmented into sodium-sulfur batteries, sodium-salt batteries and sodium-oxygen. Based upon end-user, the market is segmented into residential, utility, commercial, industrial and transport. The regions covered in global Sodium ion battery market are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global sodium ion battery market is sub divided into U.S., Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Brazil, Mexico, GCC, Africa, etc.

Global Sodium-Ion Battery Market: By Product Type

• Sodium-sulfur batteries
• Sodium-salt batteries
• Sodium-oxygen

Global Sodium Ion Battery Market: By End use

• Residential
• Utility
• Commercial
• Industrial
• Transport

The product type segment of sodium ion battery market is dominated by Sodium-sulfur batteries with a largest market share of XX.XX % in 2020. The end-user segment of sodium ion battery market is dominated by Grid Storage segment by capturing the largest market of 80.87 % in year 2020.

Geographically, Asia Pacific region is expected to dominate the global sodium ion battery market within the forecast period. The North America is expected to witness substantial growth over the forecast period owing to increased adoption of electric vehicles and solar and wind power installations in this region. Wind power is one of the fastest-growing renewable energy technologies. According to the American Wind Energy Association (AWEA) report; Wind power in the United States is a branch of the energy industry that has expanded quickly over the latest several years. From January through December 2019, 300.1 terawatt-hours were generated by wind power, or 7.29% of all generated electrical energy in the United States. That same year, wind power surpassed hydroelectric power as the largest renewable energy source generated in the U.S. As of January 2020, the total installed wind power nameplate generating capacity in the United States was 105,583 megawatts (MW). Thus far, wind power's largest growth in capacity was in 2012, when 11,895 MW of wind power was installed, representing 26.5% of new power capacity.

Asia Pacific region is expected to witness a significant growth in the global sodium-ion battery market within the forecast period. This is due to the continuous development in consumer electronics and growing urbanization, increasing in this region. For instance; by 2030, the UN projects that proportion will reach 60 percent, totaling 4.9 Million people. Roughly 95 percent of this massive urban growth will occur in less developed countries. The combined urban population of these 8 countries will grow by more than 1 Million people in the same period, making up roughly four-fifths of the total urban

  Report Coverage

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2027
Market Size in 2020:	USD 70.29 Million
Base year considered	2020
Forecast Period CAGR %:	11.34 %
Market Size Expected in 2027:	USD 141.16 Million
Tables, Charts & Figures:	175
Pages	200
Sodium-Ion Battery Companies	Faradion Limited, AGM Batteries Ltd, NGK Insulators Ltd, TIAMAT SAS, HiNa Battery Technology Co. Ltd, Altris AB, Natron Energy Inc., Others
Segments Covered	By Product Type, By End-use
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Global Market Trends of Sodium-Ion Battery Market:

The global Sodium-ion battery market is expected to witness a significant growth in the coming few years owing to various benefits offered by these batteries. Sodium-ion batteries have been touted as an attractive storage technology due to their elemental abundance, promising electrochemical performance, and environmentally benign nature. Sodium-ion batteries present an alternative energy storage device, owing to fast growing high cost of lithium in LIBs. Energy production and storage technologies have attracted a great deal of attention for day-to-day applications. The growing need to store an increasing amount of renewable energy in a sustainable way has increased the interest for sodium-ion battery technology, owing to the natural abundance of sodium.

Sodium-ion batteries (SIBs) are considered as the best power sources because sodium is widely available and exhibits similar chemistry to that of LIBs; therefore, these batteries may promise next-generation alternatives. Recently, sodiated layer transition metal oxides, phosphates and organic compounds have been introduced as cathode materials for Sodium-ion batteries. In addition, recent developments have been facilitated by the use of select carbonaceous materials, transition metal oxides (or sulfides), and intermetallic and organic compounds as anodes for these batteries. Apart from electrode materials, suitable electrolytes, additives, and binders are equally important for the development of practical Sodium-ion batteries. Some of the major trends in Global Sodium ion battery market are follows:

• Sodium-Ion Batteries: Faradion Limited is the first company in the new millennium to identify and absorb the potential of sodium ions in rechargeable batteries. Its sodium-ion batteries are recognized as an emerging technology and an important part of the solution for cheap, clean energy. The Faradion sodium-ion batteries are ideal for stationary storage applications over a wide temperature range, due to their high energy density both by mass and volume which is combined with safety and cost advantages. The battery offers various applications like, residential and industrial storage, back-up power supplies for telecoms, back-up power supplies or storage in remote applications and locations including offshore. It also has potential for the S-L-I (starter-lighting-ignition) 12V battery or the 48V battery in a MHEV (mild hybrid electric vehicle). This is because Na-ion has higher energy density than lead acid batteries, as well as improved performance over a wide temperature range.
• NAS Sodium-Ion Battery: The NGK technology launched a NAS sodium-ion battery. These batteries have large capacity with many power grid applications. It has a large-capacity, long-duration storage battery suitable for daily load leveling and time-shifting of wind and solar generation. Active materials of the NAS battery are in molten states, there is no transition between solid and liquid due to charge and discharge, and there is no side reaction, so long life can be expected. It offers various advantageous such as it is a large-capacity, long-duration storage battery suitable for daily load leveling and time shifting of wind and solar generation. This battery has long lasting life about 15 years and 4500 cycle full charge durability. Additionally, these batteries are the most effective way to store large amounts of electrical energy discharging for six hours at rated output and 24/7 power supply feasible with solar power for 6-10 hours.
• Natron's BlueTray Sodium-Ion 4000 Battery: Natron's BlueTray sodium-ion 4000 battery is a self-contained unit that does not have the same risk of fire, toxic gas, or thermal escape as lithium or lead batteries. This is the first sodium-ion battery to receive a 1973 certification from UL, a definite third-party assessment of battery product Natron’s battery cells are also the first battery cells to publicly disclose the results of rigorous UL 9540A fire testing on the new UL 9540A database. Sodium-ion batteries are also viable means of energy storage, mainly for large-scale electric storage applications, due to the following reasons: low cost of sodium, compared to that of lithium, similar chemistry, and intercalation kinetics to that of lithium, and the irreversible capacity of carbon anodes in sodium-ion batteries is less than in lithium-ion batteries. Its major application sector includes UPS, lift trucks, renewable smoothing, DCM, and regulatory services. Company offers batteries which are higher power density, faster recharge, and longer cycle life than incumbent technologies.

The recent upsurge of EVs and energy storage using LIBs as power sources could cause a shortage of LIBs so a great deal of attention has been started again to the development of SIBs, in which sodium is inexpensive and evenly distributed. The sodium-ion batteries are increasingly trending in stationary energy storage like telecom, clean energy, electrical vehicle, and others. The sodium-ion cells are an excellent drop-in replacement for lead-acid batteries for low-cost electric transport such as in LSEVs, e-scooters, or as batteries for e-rickshaws and e-bikes which offers much greater range and carrying capacity for a similar price.

Some of the recent and potential applications of Sodium-ion batteries are as follows:

Clean Energy: Thus, companies are using high-efficiency lithium-ion batteries with renewable energy like solar at many sites. The increase in solar energy is expected to increase the use of lithium-ion batteries for energy storage. Sodium-ion battery technology, which is claimed to hold as much energy as a lithium-ion battery, bears much potential to be cheaper and can be produced in substantial quantity too. Additionally, Sodium-ion battery technology has recently created great interest in all scientific communities as a valid and more environmentally friendly alternative to Li-ion due to the abundance of sodium in all scientific communities. For example, The Smart Sodium Storage System project is a USD10.6M project which aims to develop and demonstrate novel sodium-ion battery technologies for use in renewable energy storage applications.

Telecom Industry and Data Centers: In the telecom sector, telecom tower companies are constantly moving towards energy-efficient solutions, as fuel costs are approximately 30% of the operating costs of telecom towers. An increase in diesel prices is negatively impacting the telecom industry. Recent advance chemistry in batteries is opening up new horizons in terms of data design and operation centers and other critical facilities. Thus, a sodium-ion battery uses the Prussian blue analogs for cathode and anode. They offer extremely low internal resistance; there is a high cycle-rate, high peak-energy potential, not flammable and do not exhibit any thermal runners features by design.

Electric Vehicles: Batteries are some of the most expensive components of an electric vehicle. The emerging electric vehicle industry which has been dependent on imports of critical parts, as well as the lithium cells which are the major ingredients powering EVs. Thus, the industry was also scouting for alternatives to lithium cells. Lithium-ion batteries are expensive to produce and lithium as a material is turning difficult to source. Sodium-ion battery technology, which is claimed to hold as much energy as a lithium-ion battery, bears much potential to be cheaper and can be produced in substantial quantity too. Global demand for EVs is expected to witness a sharp growth. A recent study by Deloitte; has predicted that a third of all new cars sold globally will be electrified by the end of the decade, citing a radical shift in consumer sentiment. The firm estimates that 31.1 million electrified vehicles will be sold per year by 2030. The peak of petrol and diesel vehicle sales will likely to have occurred during the Coronavirus pandemic. Thus, the investment in EVs is also increasing. For example, Tamil Nadu-based Sodium Energy is working on developing sodium-ion-based batteries for electric vehicles and energy storage needs. The company is the brainchild of evangelist Pachayappa Baladhandayuthapani (Bala), former CTO of Coimbatore-based Ampere Vehicles, which produces electric scooters, e-autos and golf karts.

On Special Requirement Sodium-Ion Battery market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global sodium-ion battery market Report:-

• Global sodium-ion battery market report covers in-depth historical and forecast analysis.
• Global sodium-ion battery market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global sodium-ion battery market report helps to identify opportunities in the marketplace.
• Global sodium-ion battery market report covers an extensive analysis of emerging trends and competitive landscape.