What is the global market size of Sodium-ion Battery Market?

Global Sodium-ion Battery market was valued at USD 244.26 million in 2021, and the market size is estimated to reach USD 609.54 million by 2028, at a CAGR of 14.68% over the forecast period (2022–2028). Read More

Who are the key vendors in the Global Sodium-ion Battery Market?

The market for sodium-ion batteries is moderately consolidated. Faradion Limited, Contemporary Amperex Technology Co. Limited, NGK Insulators Ltd, TIAMAT SAS, HiNa Battery Technology Co. Ltd, Altris AB, and Natron Energy Inc. are among the market's leading players.'Faradion Limited (UK)','AMTE Power PLC (UK)','NGK Insulators Ltd (Japan)','HiNa Battery Technology Co. Ltd. (China)','TIAMAT SAS (France)','Contemporary Amperex Technology Co. Limited (China)','Altris AB (Sweden)','Natron Energy Inc. (US)' Read More

What is the key driver of Global Sodium-ion Battery Market?

Rising industrial use to propel market growth Read More

Sodium-ion Battery Market Size, Share, Growth Analysis, By Technology Type(Sodium-Salt Battery, Sodium-Sulfur Battery, Sodium-Air Battery, Others), By Battery Component(Cathode Material, Anode Material, Others), By Application(Consumer Electronics, Energy Storage Systems (ESS), Automotive, Aerospace & Defense), By Capacity(Low-Capacity Batteries (0-1000 mAh), Medium-Capacity Batteries (1000-5000 mAh)), By Region - Industry Forecast 2025-2032

Report ID: SQMIG55E2029 | Region: Global | Published Date: October, 2024
Pages: 165 | Tables: 92 | Figures: 76

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Sodium-Ion Battery Market size was valued at USD 450.00 Million in 2022, and is poised to grow from USD 547.20 Million in 2023 to USD 2615.86 Million by 2031, growing at a CAGR of 21.60% in the forecast period (2024-2031).

The market for sodium-ion batteries is moderately consolidated. Faradion Limited, Contemporary Amperex Technology Co. Limited, NGK Insulators Ltd, TIAMAT SAS, HiNa Battery Technology Co. Ltd, Altris AB, and Natron Energy Inc. are among the market's leading players. 'Tiamat Energy (France) ', 'Contemporary Amperex Technology Co., Ltd. (China) ', 'Hina Battery Technology Co., Ltd. (China) ', 'iangsu Zoolnasm Energy Technology Co., Ltd. (China) ', 'Altris AB (Sweden) ', 'Natron Energy, Inc. (US) ', 'NGK Insulators, Ltd. (Japan) ', 'Li-fun Technology Corporation Limited (China) ', 'Jiangsu Transimage Technology Co., Ltd. (China) ', 'Zhejiang Natrium Energy Co., Ltd. (China) ', 'Sodion Energy Pvt. Ltd. (India) ', 'Indi Energy (India) ', 'Northvolt AB (Sweden) ', 'Zonergy Corporation (China) ', 'Shenzhen Topway New Energy Co., Ltd. (China) ', 'HEG – TACC (China) ', 'Farasis Energy Europe GmbH (Germany) ', 'Mica Power Co., Ltd. (China) ', 'Blue Energy Co., Ltd. (Japan)', 'Sumitomo Chemical Co., Ltd. (Japan)'

Rising industrial use to propel market growth

The demand for greener energy is increasing globally as a result of rising greenhouse gas emissions. This, combined with the rising use of sodium-ion batteries to store electricity generated by solar or wind energy, is one of the primary reasons driving the industry. Furthermore, increased public knowledge of the benefits of sodium-ion batteries, including as high energy density, low charging time, and a high number of charging cycles, is driving market expansion. Furthermore, governments in numerous countries are encouraging the development of renewable energy to provide consistent power supplies and fuel diversification, which improves energy security, reduces the risk of fuel spills, and reduces the demand for imported fuels. Aside from that, leading market players are heavily spending in research and development (R&D) activities to introduce improved stationary energy storage, which is projected to have a favorable impact on the market. Furthermore, rising demand for electric cars (EVs) due to zero tailpipe emissions of air pollutants such as nitrogen oxides (NOx) and particulates is expected to drive market expansion.

In 2021, Europe dominated the global sodium-ion battery market, owing to owing to ongoing research and increasing deployment of battery energy storage systems and electric vehicles. Quarterly PEV sales rose in the second quarter of 2020, fueled by increased environmental awareness as a result of the COVID-19 epidemic. This increase in new e-vehicle registration resulted in the displacement of 3.8 billion liters of gasoline in Europe, creating a dent in the region's motor fuel consumption. Germany led the fleet electrification movement, with over 681,400 electric vehicle sales in 2021, and Norway, with battery-electric and plug-in hybrid electric vehicles accounting for more than 86 percent of new vehicle sales in 2021. Tesla, Renault, and Volkswagen were among the top-selling brands in the region for completely electric vehicles—the Tesla Model 3, Renault Zoe, and Volkswagen ID.3 were the most popular models in the European Union in 2021.

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