Sodium Ion Battery Market Analysis
Sodium Ion Battery Market Analysis
Sodium Ion Battery Market Expected to Reach $1.2 Billion by 2031 โ Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, February 2, 2024 /EINPresswire.com/ -- The surge in the expansion of utilization of electric vehicles in the transportation industry and increasing demand for energy storage devices in residential and industrial applications have driven the demand for low-cost batteries. The need for sustainable green energy development and government support to solar and wind power generation industries which help achieve the zero-carbon emission targets led to the expansion of energy storage services which have a positive impact on the market. The growing awareness among the people regarding the utilization of renewable power generation on the environment is expected to create potential opportunities for the growth of the sodium-ion battery market during the forecast period. The sodium ion battery market size was valued at $0.3 billion in 2021, and the sodium ion battery industry is estimated to reach $1.2 billion by 2031, growing at a CAGR of 15.9% from 2022 to 2031.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/10962
Sodium ions de-intercalate from the cathode and move to the anode when the battery is charged. Sodium ion batteries offer high electrochemical quality in terms of charge-discharge, reversibility, and specific discharge capacity. These batteries are now being used in electric automobiles. A sodium ion (Si-ion) battery is a great replacement for a lithium-ion (Li-ion) battery. Li-ion battery materials cost higher than sodium ion battery materials. Sodium ion batteries are gaining appeal as an alternative energy storage solution for automobiles, aircraft, and marine applications, among others. Sodium ion batteries are in high demand due to their easy availability and accessibility. These batteries are appropriate for situations where compactness is secondary. Energy is stored in the form of chemical bonds at the anode.
Growth in consumer demand for sodium ion batteries, notably in the automotive, electronics, and electrical industries, has led to an expansion of the global automotive sodium ion battery market growth. The transition to sodium battery cells will be simpler for manufacturers as handling sodium-based chemicals may be accomplished using the same equipment that handles lithium-ion components. As sodium metal is so widely accessible, sodium ion batteries are more likely to be long-lasting, which helps meet the growing need for a dependable power source.
Sustainability, affordability, and greater safety are just a few of the significant benefits sodium ion batteries may provide to EV manufacturers and consumers. However, compared to lithium-ion, sodium ion batteries have a lower energy density. With further technological advancements, this problem should be resolved in the coming years. As a result, several battery manufacturers are looking into the prospect of using sodium ion batteries in place of conventional lithium-ion batteries in upcoming electric cars. The automotive sodium ion battery market is projected to grow as a result of all these causes.
In January 2020, the new EU-funded project NAIMA, "Na-Ion materials are essential components to manufacture reliable battery cells for non-automotive applications," which started in France. The European Commission awarded this project a Horizon2020 program grant of almost EUR 8 million. The duration of the program is 36 months, which started in December 2019 and is expected to end in December 2022. The NAIMA project is expected to demonstrate that two new generations of highly competitive and safe sodium ion cells developed and tested during the project are some of the most robust and cost-effective alternatives to current and future Li-based technologies for storage applications. The presence of the above-mentioned trends and investments for the development of electric vehicles have a significant impact on the development of the sodium ion battery market opportunities.
๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Battery technologies are an essential catalyst to unlock growth and new advances in sectors such as electric vehicles (EVs), electronic devices, and battery energy storage (BES) for renewable energy. An increase in dependence on battery storage is driving enormous demand. Thus, battery applications are expected to become a $400 billion-plus market by 2030, up from $142.3 billion in 2022.
๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐ฌ๐๐๐จ๐ง๐ ๐ฅ๐ข๐๐ ๐จ๐ซ ๐ซ๐๐๐ฒ๐๐ฅ๐ข๐ง๐
- Recycling could be the last step undertaken only when batteries cannot be repurposed or reused. LFP has been a popular chemistry in commercial use of EVs and stationary storage globally. Second use of LFP batteries makes great sense as unlike NMC or NCA batteries, LFP batteries do not contain high-value metals. Besides, LFP has a better cycle life and safety performance.
- Second-life batteries could be 50-70% cheaper than the new ones.
The sodium ion battery market forecast is segmented based on application, end-user, and region. Based on application, the market is fragmented into residential, commercial, and industrial. In addition, based on end-use, the market is bifurcated into stationary energy storage and transportation. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Europe accounts for the largest sodium ion battery market share, followed by North America, Asia-Pacific, and LAMEA.
๐๐๐ญ ๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/request-for-customization/10962
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Sodium Ion Battery industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐จ๐๐ข๐ฎ๐ฆ ๐๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
Mitsubishi Corporation
Natrium Energy
Zoolnasm
Natron Energy
HiNa BATTERY
Panasonic Corporation
Kishida Chemical
Faradion Limited
CATL
Ronbay Technology
The industrial segment dominates the global Sodium ion battery market. Sodium ion batteries have a wide range of applications in energy storage devices which are used for backup power supply in manufacturing industries. In addition, it is also widely used in large-scale renewable power generation utilities across the globe. Power and Energy industries play a vital role in the modernization and industrialization of human civilization. The electric power industry covers the generation, transmission, distribution, and sale of electric power to the general public and industry. The energy industry is the total of all of the industries involved in the production and sales of energy.
The stationary energy storage segment dominates the global Sodium ion battery market. A stationary energy storage device can store energy and discharge it in the form of electricity. An array of batteries, an inverter, an electronic control system, and a thermal management system are often included in a stationary energy storage system. Unlike a fuel cell, which creates power without having to be charged, energy storage systems must be charged in order to deliver electricity when it is required.
Europe segment dominated the global Sodium ion battery market. Europe is a well-developed country with stringent regulations regarding environmental pollution. These stringent regulations regarding the reduction of carbon footprint across the country and rapid development in recent years which lead to surpassing expectations in terms of steep cost reduction, user-friendliness, and manifold applications in a variety of sectors have fueled the manufacturer to expand their manufacturing capabilities.
๐๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฌ๐ญ๐ฎ๐๐ฒ:
- As per sodium ion battery market analysis, Europe holds a dominant position in 2021 and will continue to maintain the lead over the forecast period.
- By application, the industrial segment was the leading segment in 2021.
- By end-use, the stationary energy storage segment for the largest market share in 2021.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/10962
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
- In July 2021, CATL launched its first sodium ion battery product. This product is widely used in stationary energy storage to store renewable energy. This product launch will increase the market share of the firm in the sodium ion battery market.
- In April 2020, Faradion Ltd., the world leader in sodium ion battery technology, announced it had received its first order from ICM Australia for its high-energy sodium ion batteries for use in the Australian market.
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
๐. ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐ญ๐จ๐ซ๐๐ ๐ ๐๐ง๐ฏ๐๐ซ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ - https://www.prnewswire.com/news-releases/battery-storage-inverter-market-to-reach-6-5-billion-globally-by-2032-at-8-8-cagr-allied-market-research-301955178.html
๐. ๐๐ข๐ญ๐ก๐ข๐ฎ๐ฆ-๐ข๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐จ๐ซ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐ฅ๐๐๐ญ๐ซ๐จ๐ง๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/en/news-release/2023/09/21/2747592/0/en/Lithium-Ion-Battery-For-Consumer-Electronics-Market-to-Reach-18-8-Billion-Globally-by-2032-at-14-5-CAGR-Allied-Market-Research.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
