Global Sodium Ion Battery Market Size study & Forecast, by Application (Residential, Commercial, Industrial), by End Use (Stationary Energy Storage, Transportation) and Regional Analysis, 2023-2030

Global Sodium Ion Battery Market Size study & Forecast, by Application (Residential, Commercial, Industrial), by End Use (Stationary Energy Storage, Transportation) and Regional Analysis, 2023-2030

Global Sodium Ion Battery Market is valued approximately USD 0.35 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 1.5% over the forecast period 2023-2030. Sodium ion batteries are a practical choice for power storage because sodium ions are a highly active and effective charge carrier. The sodium-ion battery is distinguished by its reversibility, good electrochemical characteristics, quick response time, and other characteristics. The main raw materials utilised in sodium-ion batteries include electrolyte material, barrier material, encapsulating material & separators, and other materials. Electronics end users frequently utilise sodium ion batteries in LED torches. Additionally, the usage of sodium ion batteries for power storage applications is expanding quickly across a range of end-use industries, from automotive and industrial to household electrical and electronics. Energy storage services have expanded as a result of the growing demand for renewable energy. The need for inexpensive batteries has grown as a result of the fast-growing market share of renewable energy in the business that produces electricity. The need for sodium-ion batteries has grown across the world in tandem with consumer demand, particularly in the electrical and electronic industries. Also, the rising demand for electric vehicles is anticipated to support the market growth.

Moreover, the growing demand for consumer electronics is indeed supporting the growth of the Sodium Ion Battery (NIB) market. Consumer electronics such as smartphones, tablets, laptops, and wearables require lightweight and high-performance batteries to meet the increasing power demands of these devices. Sodium-ion batteries have the potential to offer a viable alternative to traditional lithium-ion batteries due to their comparable energy density and lower cost. As a result, the demand for sodium-ion batteries in consumer electronics is expected to rise. According to Statista, in 2022, the consumer electronic market was valued USD 987.16 billion and it is anticipated to reach USD 1,118.22 billion by 2027. As a result, the growing consumer electronic industry is anticipated to support the market growth. Additionally, energy storage devices in renewable power plants and increasing demand for electric vehicles provide ample opportunities for the development of the market during the forecast period. However, the high cost of R&D operations of Sodium Ion Battery stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Sodium Ion Battery Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing due to rising energy storage demand, environmental considerations, supportive government initiatives and regulations, and rising industrial applications. North America is expected to grow significantly during the forecast period, owing to the Increasing demand for energy storage, environmental concerns and sustainability, supportive government initiatives and policies and technological advancements.

Major market player included in this report are:
Contemporary Amperex Technology Co., Ltd.
Faradion limited
Natron Energy Pvt. Ltd.
Panasonic Corporation India Pvt. Ltd.
Mitsubishi Corporation
Kishida Chemical Co., Ltd.
Zoolnasm
Ronbay Technology
HiNa Battery Technology Co., Ltd.
Natrium Energy

Recent Developments in the Market:
In January 2022, Reliance Industries announced that its subsidiary, Reliance New Energy Solar Limited, has reached a deal with Faradion (Faradion) and its shareholders to purchase all of Faradion's equity shares through secondary transactions for a total of USD 119.40 million. As part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, Reliance plans to build a fully integrated energy storage Gigafactory that will utilise the most recent technology from Faradion.

In May 2022, Natron Energy, Inc. and Clarios International Inc. have formed a strategic partnership to manufacture sodium-ion batteries. When it goes into production in 2023, the Clarios International Inc. Meadowbrook plant will be the world's first and largest sodium-ion battery factory. The plant's annual capacity will be 600MW.

Global Sodium Ion Battery Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Application, End Use, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Residential
Commercial
Industrial
By End Use:
Stationary Energy Storage
Transportation
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Contemporary Amperex Technology Co., Ltd.
Faradion limited
Natron Energy Pvt. Ltd.
Panasonic Corporation India Pvt. Ltd.
Mitsubishi Corporation
Kishida Chemical Co., Ltd.
Zoolnasm
Ronbay Technology
HiNa Battery Technology Co., Ltd.
Natrium Energy

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