Global Sodium Ion Battery Market Research Report Information by Technology (Sodium Sulphur Battery, Sodium Air Battery and Sodium Salt Battery) By End Use (Automotive, Consumer electronics, Energy storage, Industrial and Others) and By Region - Forecast to 2032
Overview of the Market
In 2023, the sodium ion battery market was estimated to be worth USD 489.0 million. According to projections, the sodium ion battery market is expected to expand at a compound annual growth rate (CAGR) of 22.73% from USD 589.6 million in 2024 to USD 3,088.7 million by 2032.
A sodium-ion (Na-Ion) battery system is a type of energy storage device that uses electrochemical charge/discharge reactions between a negative electrode (anode), usually made of hard carbons or intercalation compounds, and a positive electrode (cathode), which is made of layered materials containing sodium. The electrodes are submerged in an electrolyte, which can consist of either aqueous solution (like Na2SO4 solution) or non-aqueous solution (such salts in propylene carbonate). They are separated by a porous material that permits ionic movement between them. The lithium-ion battery and the sodium-ion battery operate on a similar concept. Additionally, sodium ions move back and forth between the anode and cathode. However, sodium ions have a bigger volume and higher requirements for the kinetic characteristics of materials and structural stability than lithium ions. The industrialization of sodium-ion batteries is now hampered by this. Here, we'll concentrate on the two elements propelling the expansion: The need for a more affordable lithium-ion battery substitute and the growing usage of sodium-ion batteries in automobiles and stationary storage
Perspectives on Market Segments
The market for sodium ion batteries has been divided into three segments based on technology: sodium salt, sodium sulfur, and sodium air batteries.
The market is divided into automotive, consumer electronics, energy storage, industrial, and other segments based on end use.
Regional Perspectives
North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America make up the regions that make up the sodium ion battery market. The market for sodium ion batteries in Asia Pacific has the largest market share and is anticipated to generate a sizable revenue share over the course of the projected period. Major players control a large portion of the Asia-Pacific sodium ion battery market, which is driven by a constantly increasing need for energy storage solutions. The region's urbanization and industrialization are increasing demand for sustainable, alternate energy sources. With their plentiful sodium resources and potential for reduced costs, sodium-ion batteries present a viable substitute for lithium-ion batteries. As a result, a substantial amount of money has been invested in the development, manufacturing, and commercialization of sodium-ion battery technology for use in home appliances, electric vehicles (including cars), and grid-based energy storage. Asia Pacific's sodium battery industry, which is anticipated to expand quickly, will be essential to the region's attempts to position itself as the most developed and reliable energy storage market in the world.
Key Players
Faradion Limited, HiNa Battery Technology Co., Ltd., Tiamat Energy, Altris AB, Natron Energy, NGK Insulators, Ltd., Jiangsu Zoolnasm Energy Technology Co., Ltd., KPIT Technologies, Li-FUN Technology Corporation Limited, CATL, and Northvolt AB are some of the major companies in the sodium ion battery market.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 GLOBAL SODIUM ION BATTERY MARKET, BY TECHNOLOGY
1.3 GLOBAL SODIUM ION BATTERY MARKET, BY END USE
1.5 GLOBAL SODIUM ION BATTERY MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
2.4 KEY BUYING CRITERIA
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP DOWN & BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 NEED FOR THE COST-EFFECTIVE ALTERNATIVE TO LITHIUM-ION BATTERY
4.2.2 INCREASING USE OF SODIUM-ION BATTERY IN VEHICLES AND STATIONARY STORAGE
4.2.3 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINTS
4.3.1 LOW DENSITY, LONGER LIFESPAN CONCERN AND PERFORMANCE ISSUE
4.3.2 RESTRAINTS IMPACT ANALYSIS
4.4 OPPORTUNITIES
4.4.1 INNOVATION AND TECHNOLOGICAL ADVANCES IN SODIUM-ION BATTERIES
4.5 IMPACT OF COVID-19 ON GLOBAL SODIUM ION BATTERY MARKET
4.6 IMPACT OF COVID-19 ON THE GLOBAL SODIUM ION BATTERY MARKET
4.7 SUPPLY CHAIN IMPACT
4.7.1 IMPACT ON MANUFACTURER/DEVELOPER
4.7.2 IMPACT ON COMPONENT/SERVICES SUPPLIER
4.7.3 IMPACT ON DISTRIBUTION/LOGISTICS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY/VALUE CHAIN ANALYSIS
5.1.1 RAW MATERIALS AND COMPONENTS SUPPLIERS
5.1.2 MANUFACTURING & ASSEMBLY
5.1.3 DISTRIBUTION & SALES
5.1.4 RETAILERS AND END USE
5.2 PORTER'S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 BARGAINING POWER OF BUYERS
5.2.4 THREAT OF SUBSTITUTES
5.2.5 INTENSITY OF RIVALRY
6 GLOBAL SODIUM ION BATTERY MARKET, BY TECHNOLOGY
6.1 OVERVIEW
6.2 GLOBAL SODIUM ION BATTERY MARKET SIZE, MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2032
6.2.1 GLOBAL SODIUM ION BATTERY MARKET SIZE: MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2032
8 GLOBAL SODIUM ION BATTERY MARKET, BY END USE
8.1 OVERVIEW
8.2 GLOBAL SODIUM ION BATTERY MARKET SIZE, MARKET ESTIMATES & FORECAST BY END USE, 2019-2032
8.2.1 GLOBAL SODIUM ION BATTERY MARKET SIZE: MARKET ESTIMATES & FORECAST BY END USE, 2019-2032
10 GLOBAL SODIUM ION BATTERY MARKET, BY REGION
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 U.S.
10.2.2 CANADA
10.3 EUROPE
10.3.1 GERMANY
10.3.2 UK
10.3.3 FRANCE
10.3.4 RUSSIA
10.3.5 ITALY
10.3.6 SPAIN
10.3.7 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 JAPAN
10.4.4 SOUTH KOREA
10.4.5 REST OF ASIA PACIFIC
10.5 LATIN AMERICA
10.5.1 BRAZIL
10.5.2 MEXICO
10.5.3 ARGENTINA
10.5.4 REST OF LATIN AMERICA
10.6 MIDDLE EAST & AFRICA
10.6.1 GCC COUNTRIES
10.6.2 SOUTH AFRICA
10.6.3 REST OF THE MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
11.1 COMPETITIVE OVERVIEW
11.2 COMPETITIVE BENCHMARKING
11.3 MAJOR PLAYERS IN THE GLOBAL SODIUM ION BATTERY MARKET
11.4 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GLOBAL SODIUM ION BATTERY MARKET