Key Highlights
• Sodium-ion batteries are gaining ground in large, low-cost lithium-ion batteries. Compared to the Li metal in the Li-ion battery, the Na metal in the Na-ion battery exhibits a larger ionic radius, which provides less material during the electrochemical cycle, thus providing greater stability in the Li-ion battery. Na-ion batteries have many advantages such as low cost, compatibility with batteries, safety with safety and safe life. Sodium-ion batteries are generally better for stationary applications than mobile applications. Sodium ion batteries are also used in electric vehicles such as e-bikes and e-scooters. On an end-user basis, the sodium-ion battery market is divided into two segments based on the sodium-ion battery's application in field, industry, utility, business and transportation. Sodium-ion batteries are used to store energy for the grid and power electric vehicles. Sodium-ion batteries are considered a useful alternative to lithium-ion batteries. The abundance of sodium helps to reduce the production costs of sodium-ion batteries compared to lithium. Therefore, the sodium-ion battery market is expected to grow at a high rate in the coming years.
• The market size of the worldwide Sodium-Ion Battery Industry surpassed USD XX billion in 2022, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.
• In January 2022, Reliance Industries announced that its subsidiary Reliance New Energy Solar Limited has reached an agreement with Faradion (Faradion) and its shareholders to acquire 100% of Faradion's equity in the second transfer at a total cost of £94.42 million. . The company also announced that Reliance will use the latest technology from Faradion in its proposed energy storage gigafactory as part of the Dhirubhai Ambani Green Energy Supercomplex project in Jamnagar.
• Batteries play an important role in energy storage and constitute a significant part of total energy costs, especially in household appliances. Na-ion batteries have fast energy, short charging time, more charge cycles etc. features make them suitable for this application. Na-ion batteries are also a valid energy source. A great utility app. This is mainly due to the low cost of sodium compared to lithium, its chemical properties and synthesis kinetics similar to lithium, and the less irreversible capacity of the carbon anode in sodium ion than in lithium-ion batteries. The Sodium-ion battery is expected to have great potential in energy storage during the forecast period. Electricity generation from renewable sources such as solar and wind is increasing, and it is important to store energy to ensure energy connectivity. According to International Renewable Energy Agency (IRENA), the total installed solar photovoltaic electricity generation in the world will reach 843 GW in 2021, up 19% from the previous year. Similarly, the world will install more than 769 GW of wind power in 2021, an increase of more than 10% compared to 2020. . Additionally, according to the International Energy Agency (IEA), solar, wind and hydroelectric power plants are expected to account for about 80 percent of global electricity production by 2050. Solar and wind energy storage should provide a significant opportunity in the solar and wind power industry because sodium-ion batteries are an important source of energy storage with additional benefits. On the other hand, the cycling performance of Na-ion batteries is not well known mainly due to the poor capacitance achieved with hard carbon anodes. The research results and anode fabrication process developed by the team could help advance the commercialization of sodium-ion batteries for sustainable energy use in Russia and beyond. Also in December 2021, British battery technology company Faradion Limited announced that it has signed a definitive agreement to acquire Reliance New Energy Solar Ltd for a trade value of US$135.2 million. The company owns intellectual property covering many aspects of sodium-ion (Na-ion) battery technology. It has the same performance as a chemical when replacing expensive materials like cobalt and lithium with more sodium. Therefore, the increase in electricity generation continues with research and development activities for electrical household appliances and the increase in sodium-ion battery investments. Stable electricity should drive the market during the forecast period.
Scope of the Industry Profile
Key Players
• Faradion (UK)
• Natron (Europe)
• CATL (China)
• HiNa Battery Technology Company (China)
• RONBAY Technology (China)
• ZOOLNASH (China)
• Kishida Chemical (Japan)
• Panasonic (Japan)
• Mitsubishi Chemical (Japan)
• Altris AB (Europe)
• Aquion Energy (US)
Segmentation
By Product
• Sodium-Sulfur Batteries
• Sodium-Salt Batteries (Zebra Batteries)
• Sodium-Oxygen (Sodium Air) Batteries
By Electrolytes
• Aqueous
• Non-aqueous
• Hybrid
By Voltage
• 3.7 to 12 V
• 12 to 36 V
• 36 to 48 V
• 48 to 60 V
• 60 to 72 V
By Application
• Consumer Electronic Devices
• Automotive & Transportation
• Power Backup
• Grid-Level Applications
• Industrial
• Aerospace & Defense
• Other Applications
What to Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Sodium-Ion Battery market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Sodium-Ion Battery market.
3. Leading company profiles reveal details of key Sodium-Ion Battery market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Sodium-Ion Battery market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Development
• In January 2022, Reliance Industries announced that its subsidiary Reliance New Energy Solar Limited has reached an agreement with Faradion (Faradion) and its shareholders to acquire 100% of Faradion's equity in the second transfer at a total cost of £94.42 million. . The company also announced that Reliance will use the latest technology from Faradion in its proposed energy storage gigafactory as part of the Dhirubhai Ambani Green Energy Supercomplex project in Jamnagar.
• In May 2019, the Minister of Australia, Kim Carr, announced that R&D, production and business support etc. announced funding for $2 million for sodium-ion battery power plants, $30 million for research and development in the electric vehicle industry, and $25 million for operating grants to manufacturing companies.
• In October 2018 Sydney Water's Bondi sewer station announced that it will use sodium-ion batteries with a nominal capacity of 30 kWh to store solar energy. These sodium batteries are a cheaper alternative to lithium-ion batteries..
Segment Insights
By Application
Industrial market segment dominates the global sodium ion battery market. Sodium ion batteries are widely used in electronic storage devices for energy recovery in production. It is also widely used in large-scale renewable energy generation facilities around the world. The energy industry plays an important role in the innovation and economy of human civilization. The electricity industry includes the generation, transmission, distribution and sale of electricity to the public and businesses.
The increase in the energy needs of the society and the rapid growth of energy users are the main factors that lead to the growth of the energy sector. Global warming has increased the temperature, caused countries to grow and develop, eliminate thermal power plants and invest in renewable energy. The rapid increase in renewable energy generation in China has put enormous pressure on energy transmission and distribution, leading to the use of batteries to store excess energy. The factors mentioned above should provide sufficient time for business development during the forecast period.
By Product
The Sodium-Sulphur Batteries segment dominates the global sodium-ion battery market. Stationary electrical equipment stores energy and releases it as electricity. Fixed power systems typically include battery strings, inverters, electrical control systems, and thermal control systems. Unlike fossil fuels, which produce electricity without being recharged, energy storage must be charged to provide power when needed. Battery storage systems are essential to provide stable and reliable power.
It has become one of the most important options for the integration of many solar and wind renewable energy sources worldwide. They used many commercial methods to provide better connectivity and energy storage. Batteries can be used as backup power to maintain grid stability and provide power during power outages. Continued growth in energy consumption worldwide and strict government regulations aimed at reducing carbon emissions are expected to drive supply over the forecast period. The factors mentioned above should provide sufficient time for business development during the forecast period.
Regional Insights
The sodium-ion battery market is expected to be profitable in the North American region in the coming years due to increased solar and wind power capacity and increased sales of electric vehicles in the region. Some countries in Latin America, such as Venezuela, the Caribbean Islands, Chile and Colombia, have a weak electricity distribution system. To meet the growing electricity demand in the region, the local government is working to develop solar capacity in the country in question, as well as in Brazil and Uruguay. The European region is focusing on switching its energy supply to renewable energy sources, forcing local governments to adopt electric vehicles. Rising electric vehicle sales and continued growth of the electric market in the region are expected to drive the growth of the sodium-ion battery market during the forecast period. Renewable energy is growing in the Middle East and the region. Capacity installations in Saudi Arabia, South Africa and the United Arab Emirates are important for the growth of renewable energy in the Middle East and Africa region. The increase in renewable energy in the region is expected to increase demand for the sodium-ion battery market during the forecast period. The Asia-Pacific region has a developed and rapidly growing economy. Additional capacity in China, Japan and India are the main drivers of renewable energy industry growth in the region. Growth in the renewable energy industry is expected to drive the growth of sodium ion sales in Asia Pacific in the future.
1 INTRODUCTION
1.1 Study Objectives
1.2 Market Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 SODIUM ION-BATTERY MARKET OVERVIEW,
BY PRODUCT
6.1 Global Market Revenue & Share Analysis, By Product
6.1.1 Sodium-Sulfur Batteries
6.1.2 Sodium-Salt Batteries (Zebra Batteries)
6.1.3 Sodium-Oxygen (Sodium Air) Batteries
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 SODIUM ION-BATTERY MARKET OVERVIEW,
BY ELECTROLYTES
7.1 Global Market Revenue & Share Analysis, By Electrolytes
7.1.1 Aqueous
7.1.2 Non-aqueous
7.1.3 Hybrid
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 SODIUM ION-BATTERY MARKET OVERVIEW,
BY VOLTAGE
8.1 Global Market Revenue & Share Analysis, By Voltage
8.1.1 3.7 to 12 V
8.1.2 12 to 36 V
8.1.3 36 to 48 V
8.1.4 48 to 60 V
8.1.5 60 to 72 V
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 SODIUM ION-BATTERY
MARKET OVERVIEW, BY AAPLICATION
9.1 Global Market Revenue & Share Analysis, By Application
9.1.1 Consumer Electronic Devices
9.1.2 Automotive & Transportation
9.1.3 Power Backup
9.1.4 Grid-Level Applications
9.1.5 Industrial
9.1.6 Aerospace & Defense
9.1.7 Other Applications
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 SODIUM ION-BATTERY MARKET OVERVIEW,
BY REGION
10.1 Global Market Revenue & Share Analysis, By Region
10.1.1 North America
10.1.2 Europe
10.1.3 Asia Pacific
10.1.4 Middle East & Africa
10.1.5 South America
10.2 Global Market Revenue & Share Analysis, 2018 – 2022
10.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
10.4 Key Takeaways
11 NORTH AMERICA MARKET
ANALYSIS
11.1 North America Market Revenue & Share Analysis, By Product
11.2 North America Market Revenue & Share Analysis, By
Electrolytes
11.3 North America Market Revenue & Share Analysis, By Voltage
11.4 North America Market Revenue & Share Analysis, By
Application
11.5 North America Market Revenue & Share Analysis, By Country
11.5.1 US
11.5.2 Canada
11.5.3 Mexico
11.6 Key Takeaways
12 EUROPE MARKET ANALYSIS
12.1 Europe Market Revenue & Share Analysis, By Product
12.2 Europe Market Revenue & Share Analysis, By Electrolytes
12.3 Europe Market Revenue & Share Analysis, By Voltage
12.4 Europe Market Revenue & Share Analysis, By Application
12.5 Europe Market Revenue & Share Analysis, By Country
12.5.1 UK
12.5.2 Italy
12.5.3 Spain
12.5.4 Germany
12.5.5 France
12.5.6 Rest of Europe
12.6 Key Takeaways
13 ASIA PACIFIC MARKET ANALYSIS
13.1 APAC Market Revenue & Share Analysis, By Product
13.2 APAC Market Revenue & Share Analysis, By Electrolytes
13.3 APAC Market Revenue & Share Analysis, By Voltage
13.4 APAC Market Revenue & Share Analysis, By Application
13.5 APAC Market Revenue & Share Analysis, By Country
13.5.1 China
13.5.2 Japan
13.5.3 India
13.5.4 South Korea
13.5.5 Rest of APAC
13.6 Key Takeaways
14 MIDDLE EAST & AFRICA MARKET
ANALYSIS
14.1 MEA Market Revenue & Share Analysis, By Product
14.2 MEA Market Revenue & Share Analysis, By Electrolytes
14.3 MEA Market Revenue & Share Analysis, By Voltage
14.4 MEA Market Revenue & Share Analysis, By Application
14.5 MEA Market Revenue & Share Analysis, By Country
14.5.1 GCC
14.5.2 South Africa
14.5.3 Rest of MEA
14.6 Key Takeaways
15 SOUTH AMERICA MARKET ANALYSIS
15.1 SA Market Revenue & Share Analysis, By Product
15.2 SA Market Revenue & Share Analysis, By Electrolytes
15.3 SA Market Revenue & Share Analysis, By Voltage
15.4 SA Market Revenue & Share Analysis, By Application
15.5 SA Market Revenue & Share Analysis, By Country
15.5.1 Brazil
15.5.2 Argentina
15.5.3 Rest of SA
15.6 Key Takeaways
16 COMPETITIVE SCENARIO
16.1 Overview
16.2 Key Players Market Share Analysis
16.3 Recent Developments & Product Launches
16.4 Mergers & Acquisitions
16.5 Partnerships, Agreements & Collaborations
17 COMPANY PROFILES
17.1 Overview
17.2 Key players
17.2.1 Faradion (UK)
17.2.1.1 Business Overview
17.2.1.2 Product Offered
17.2.1.3 Financial Insights
17.2.1.4 Strategic Developments
17.2.1.4.1 New Product Launches
17.2.1.4.2 Agreements & Collaborations
17.2.1.5 Business Aspects (NOISE Analysis)
17.2.1.5.1 Key Strengths
17.2.1.5.2 Opportunities
17.2.1.5.3 Weaknesses & Competitive Threats
17.2.1.5.4 Needs & Improvements
17.2.2 Natron (Europe)
17.2.3 CATL (China)
17.2.4 HiNa Battery Technology Company (China)
17.2.5 RONBAY Technology (China)
17.2.6 ZOOLNASH (China)
17.2.7 Kishida Chemical (Japan)
17.2.8 Panasonic (Japan)
17.2.9 Mitsubishi Chemical (Japan)
17.2.10 Altris AB (Europe)
17.2.11 Aquion Energy (US)
18 DISCLAIMER
19 APPENDIX
