Global Sodium-ion Battery Market 2025–2034

Reports Description

The market is expanding as a result of telecom businesses using sodium-ion batteries more frequently.

According to Custom Market Insights (CMI), The Global Sodium-ion Battery Market size was estimated at USD 1120 Million in 2021  and is expected to reach USD 1317 million in 2022 and is expected to hit around USD 2899 Million by 2030, poised to grow at a compound annual growth rate (CAGR) of 11.8% from 2022 to 2030.

The report examines the Sodium-ion Battery market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Sodium-ion Battery market.

Sodium-ion Battery Market: Overview

Electrochemical cells having positive and negative electrodes are used in sodium-ion batteries, a type of energy storage technology. Compared to other battery chemistries, sodium-ion batteries have a wider working temperature range (-30°C to 60°C) and superior operational safety than lithium-ion batteries.

Furthermore, sodium-ion batteries can be discharged to zero volts in order to prevent accidents while in transit, which lowers the cost of shipping. Sodium battery technologies are gaining popularity in the market and may one day be able to compete with lithium-ion batteries. Yet, in the majority of countries, the marketing and supply chain for sodium-ion batteries are still in their infancy.

Sodium-ion Battery Market: COVID–19 Impact Analysis

Manufacturing, supply chain, and factory activity halts brought on by the COVID-19 epidemic’s global lockdown hurt the sodium-ion batteries market in 2020. Also, the automotive, industrial, and other end-use sectors all shut down, which reduced the need for batteries in 2020.

During the pandemic, the leading sodium ion battery manufacturers had a variety of sales reactions. Moreover, COVID-19 had a significant impact on the worldwide market for renewable energy, which resulted in a slowdown in the advancement of renewable technology in 2020.

The pandemic created serious risks to the solar energy sector because of the decline in economic activity. Also, the market for sodium-ion batteries, which are mostly employed as large-scale stationary storage in the solar energy sector.

Sodium-ion Battery Market: Growth Drivers

Rising demand for electric vehicles

The growing demand for electric vehicles is the main factor driving the sodium-ion battery industry. In recent years, there has been a big effort to electrify transportation in order to cut carbon emissions from gasoline use. Governments have also taken action to lessen our reliance on fossil fuels in response to the ongoing threat that climate change poses to our planet’s natural resources, such as by encouraging the sale of electric vehicles and tightening rules limiting the use of alternative energy sources. The rising emphasis on renewable energy sources will likely lead to an expansion in the usage of sodium-ion batteries, a technology that has the potential to provide significantly higher capacities than typical lithium-ion cells while being more ecologically friendly.

Escalating demand from data centers and telecom corporations for sodium-ion batteries:

Fuel accounts for about 30% of telecom tower operational expenses. As a result, companies are seeking more energy-efficient choices. The telecom sector is hit by rising gas prices. New opportunities in data design and operation centers are being created by recent advancements in battery chemistry. They were not created using thermal chambers, are non-flammable, and have a low internal resistance, a high cycle rate, and a high peak energy potential. These characteristics make sodium-ion batteries the preferred choice for telecom and data centers. This aspect is the primary driver of the sodium-ion battery market.

Sodium-ion Battery Market: Segmentation Analysis

The Sodium-ion Battery market is divided into types and end-users for the purposes of our study. The sodium-Sulfur batteries category is predicted to rule the sodium-ion battery market in 2021 based on type. In sodium-sulfur (NAS) batteries, a type of sodium-ion battery, there is a lithium sulphide cathode and a sodium anode. A sodium-sulfur battery is a molten salt battery with excellent discharge and charge efficiency, high energy density, and a long lifespan. These elements fuel the Sodium-ion Battery market’s demand for sodium-sulfur batteries.

Report Scope

Key Insights: 

• Our research analyst’s analysis indicates that throughout the forecast period, the market for sodium-ion batteries is anticipated to increase annually at a CAGR of about 11.8%. (2025-2034).
• The market for sodium-ion batteries was estimated to be worth roughly USD 1120 million in 2021, and it is anticipated to grow to USD 2899 million by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
• A thorough analysis of the current market and forecasts for the years 2020–2030 are provided in the Sodium-ion Battery market research to aid in identifying opportunities to capitalize on the current market.
• The analysis provides information on the key market drivers, obstacles, opportunities, and results.

Recent Development

• Reliance Industries announced in January 2022 that Faradion and its shareholders had reached an agreement for the sale of all of Faradion’s equity interests in secondary transactions for a sum of GBP 94.45 million. A subsidiary of Reliance Industries called Reliance New Energy Solar Ltd was the party to this agreement. The Dhirubhai Ambani Green Energy Giga Complex project in Jamnagar will include Reliance’s projected fully integrated storage technology facility, which the company claims will also use cutting-edge technology from Faradion.
• A new generation of battery solutions were created in April 2022 by AMTE Power plc in collaboration with Sprint Power and Ultrium to meet the complex and expanding demands of the electric vehicle (EV) market.
• In July 2021, Xtreme Power Conversion unveiled Uninterruptible Power Solutions (UPS) utilizing sodium-ion batteries from Natron.

Regional Landscape

Europe dominated the sector in 2021 with a market share of almost 35%. The expansion is related to additional companies getting involved in the production and promotion of sodium-ion batteries. The English business Faradion worked with Oxford University, Williams Advanced Engineering, and Williams Advanced Engineering to develop the first vehicle powered by sodium-ion batteries. In January 2021, the company focused on the Low-Cost Storage of Renewable Energy project to show off Na-ion technology for solar energy storage. Innovate UK financed this endeavor.

There seems to be a healthy and expanding market for renewable energy in the Asia Pacific region. The region’s renewable energy market is growing primarily as a result of capacity expansions in China, Japan, and India. As a result, the expansion of the renewables industry is anticipated to improve future sodium-ion revenue growth in the Asia Pacific area.

Competitive Landscape

Manufacturers of sodium-ion batteries in the sector are some of the important market players examined and assessed. Also, a full competitive benchmarking of the sodium-ion battery market’s participants has been carried out to help the reader better understand how rivals compare to one another and provide a complete picture of the market.

In-depth competition strategies, such as alliances, contracts, and collaborations, will also aid readers in understanding the sodium-ion battery industry’s latent income potential.

Prominent Players:

• Aquion Energy
• Zhejiang Lvming Energy (Durathon)
• Faradion Limited
• Panasonic Corporation
• HiNa Battery Technology
• Qintang New Energy
• Liaoning Hongcheng
• Nrgtek Inc.
• AGM Batteries Ltd.
• NGK
• NEI Corporation

The global Sodium-ion Battery market is segmented as follows:

By Type

• Sodium-Oxide Batteries
• Sodium-Sulfur Batteries
• Sodium-Salt Batteries

By Application

• Grid-Level Applications
• Transportation
• Consumer Electronics
• Industrial
• Defense
• Aerospace
• Marine
• Others

By Technology

• Aqueous
• Non-aqueous

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America