Sodium-ion Battery Market Size, Trends and Insights By Type (Sodium-Oxide Batteries, Sodium-Sulfur Batteries, Sodium-Salt Batteries), By Application (Grid-Level Applications, Transportation, Consumer Electronics, Industrial, Defense, Aerospace, Marine, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Aquion Energy
- Zhejiang Lvming Energy (Durathon)
- Faradion Limited
- Others
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
| Feature of the Report | Details |
| Market Size in 2021 | USD 1120 Million |
| Projected Market Size in 2030 | USD 2899 Million |
| Market Size in 2022 | USD 1317 Million |
| CAGR Growth Rate | 11.8% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| 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, and Others |
| Key Segment | By Type, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
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%. (2022-2030).
- 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
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Sodium ion Battery Market, (2022 – 2030) (USD Million)
- 2.2 Global Sodium ion Battery Market: snapshot
- Chapter 3. Global Sodium ion Battery Market – Industry Analysis
- 3.1 Sodium ion Battery Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Surging demand for sodium-ion batteries from telecom companies and data centers
- 3.2.2 Increased demand for low-cost electrical energy storage
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Application
- Chapter 4. Global Sodium ion Battery Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Sodium ion Battery Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Sodium ion Battery Market – Type Analysis
- 5.1 Global Sodium ion Battery Market Overview: By Type
- 5.1.1 Global Sodium ion Battery Market Share, By Type, 2021 and 2030
- 5.2 Sodium-Oxide Batteries
- 5.2.1 Global Sodium ion Battery Market by Sodium-Oxide Batteries, 2022 – 2030 (USD Million)
- 5.3 Sodium-Sulfur Batteries
- 5.3.1 Global Sodium ion Battery Market by Sodium-Sulfur Batteries, 2022 – 2030 (USD Million)
- 5.4 Sodium-Salt Batteries
- 5.4.1 Global Sodium ion Battery Market by Sodium-Salt Batteries, 2022 – 2030 (USD Million)
- 5.1 Global Sodium ion Battery Market Overview: By Type
- Chapter 6. Global Sodium ion Battery Market – Application Analysis
- 6.1 Global Sodium ion Battery Market Overview: By Application
- 6.1.1 Global Sodium ion Battery Market Share, By Application, 2021 and 2030
- 6.2 Grid-Level Applications
- 6.2.1 Global Sodium ion Battery Market by Grid-Level Applications, 2022 – 2030 (USD Million)
- 6.3 Transportation
- 6.3.1 Global Sodium ion Battery Market by Transportation, 2022 – 2030 (USD Million)
- 6.4 Consumer Electronics
- 6.4.1 Global Sodium ion Battery Market by Consumer Electronics, 2022 – 2030 (USD Million)
- 6.5 Industrial
- 6.5.1 Global Sodium ion Battery Market by Industrial, 2022 – 2030 (USD Million)
- 6.6 Defense
- 6.6.1 Global Sodium ion Battery Market by Defense, 2022 – 2030 (USD Million)
- 6.7 Aerospace
- 6.7.1 Global Sodium ion Battery Market by Aerospace, 2022 – 2030 (USD Million)
- 6.8 Marine
- 6.8.1 Global Sodium ion Battery Market by Marine, 2022 – 2030 (USD Million)
- 6.9 Others
- 6.9.1 Global Sodium ion Battery Market by Others, 2022 – 2030 (USD Million)
- 6.1 Global Sodium ion Battery Market Overview: By Application
- Chapter 7. Sodium ion Battery Market – Regional Analysis
- 7.1 Global Sodium ion Battery Market Regional Overview
- 7.2 Global Sodium ion Battery Market Share, by Region, 2021 & 2030 (USD Million)
- 7.3. North America
- 7.3.1 North America Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.3.1.1 North America Sodium ion Battery Market, by Country, 2022 – 2030 (USD Million)
- 7.3.1 North America Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.4 North America Sodium ion Battery Market, by Type, 2022 – 2030
- 7.4.1 North America Sodium ion Battery Market, by Type, 2022 – 2030 (USD Million)
- 7.5 North America Sodium ion Battery Market, by Application, 2022 – 2030
- 7.5.1 North America Sodium ion Battery Market, by Application, 2022 – 2030 (USD Million)
- 7.6. Europe
- 7.6.1 Europe Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.6.1.1 Europe Sodium ion Battery Market, by Country, 2022 – 2030 (USD Million)
- 7.6.1 Europe Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.7 Europe Sodium ion Battery Market, by Type, 2022 – 2030
- 7.7.1 Europe Sodium ion Battery Market, by Type, 2022 – 2030 (USD Million)
- 7.8 Europe Sodium ion Battery Market, by Application, 2022 – 2030
- 7.8.1 Europe Sodium ion Battery Market, by Application, 2022 – 2030 (USD Million)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.9.1.1 Asia Pacific Sodium ion Battery Market, by Country, 2022 – 2030 (USD Million)
- 7.9.1 Asia Pacific Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.10 Asia Pacific Sodium ion Battery Market, by Type, 2022 – 2030
- 7.10.1 Asia Pacific Sodium ion Battery Market, by Type, 2022 – 2030 (USD Million)
- 7.11 Asia Pacific Sodium ion Battery Market, by Application, 2022 – 2030
- 7.11.1 Asia Pacific Sodium ion Battery Market, by Application, 2022 – 2030 (USD Million)
- 7.12. Latin America
- 7.12.1 Latin America Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.12.1.1 Latin America Sodium ion Battery Market, by Country, 2022 – 2030 (USD Million)
- 7.12.1 Latin America Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.13 Latin America Sodium ion Battery Market, by Type, 2022 – 2030
- 7.13.1 Latin America Sodium ion Battery Market, by Type, 2022 – 2030 (USD Million)
- 7.14 Latin America Sodium ion Battery Market, by Application, 2022 – 2030
- 7.14.1 Latin America Sodium ion Battery Market, by Application, 2022 – 2030 (USD Million)
- 7.15. The Middle East and Africa
- 7.15.1 The Middle-East and Africa Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.15.1.1 The Middle-East and Africa Sodium ion Battery Market, by Country, 2022 – 2030 (USD Million)
- 7.15.1 The Middle-East and Africa Sodium ion Battery Market, 2022 – 2030 (USD Million)
- 7.16 The Middle-East and Africa Sodium ion Battery Market, by Type, 2022 – 2030
- 7.16.1 The Middle-East and Africa Sodium ion Battery Market, by Type, 2022 – 2030 (USD Million)
- 7.17 The Middle-East and Africa Sodium ion Battery Market, by Application, 2022 – 2030
- 7.17.1 The Middle-East and Africa Sodium ion Battery Market, by Application, 2022 – 2030 (USD Million)
- Chapter 8. Company Profiles
- 8.1 Aquion Energy
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Zhejiang Lvming Energy (Durathon)
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Faradion Limited
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Panasonic Corporation
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 HiNa Battery Technology
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Qintang New Energy
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Liaoning Hongcheng
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Nrgtek Inc.
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 AGM Batteries Ltd.
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 NGK
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 NEI Corporation
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.1 Aquion Energy
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
|
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players:
- Aquion Energy
- Faradion Limited
- HiNa Battery Technology Co., Ltd
- Ben’an Energy Technology (Shanghai) Co., Ltd
- AMTE Power plc
- Natron Energy, Inc.
- Tiamat Energy
- Jiangsu Zhongna Energy Technology Co., Ltd.
- Contemporary Amperex Technology Co. Limited (CATL)
- Li-FUN Technology Corporation Limited
- BLUETTI Power Inc.
- Indigenous Energy Storage Technologies Pvt. Ltd. (Indi Energy)
- Altris AB
- NEI Corporation
- Blackstone Technology GmbH
- Others
FAQs
“Europe” region will lead the global Sodium-ion Battery market during the forecast period 2022 to 2030.
The key factors driving the market are Surging demand for sodium-ion batteries from telecom companies and data centers and increased demand for low-cost electrical energy storage
The key players operating in the Sodium-ion Battery market are 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 expanding growth with a CAGR of approximately 11.8% during the forecast period (2022 to 2030).
The global Sodium-ion Battery market size was valued at USD 1120 Million in 2021 and it is projected to reach around USD 2899 Million by 2030.