The basic principle behind the sodium-ion battery is that ions transfer from the negative electrode to the positive one through a process called electrolysis. These charged ions then flow between the two electrodes. As the cell is charged, the voltage of the battery increases. However, the electrochemical reaction slows down with time. While sodium-ion batteries haven't quite reached the maturity stage, their rapid development suggests they may soon challenge lithium-ion in the rechargeable battery market. With further investment, the sodium-ion battery technology will be able to provide a cost-effective solution for large-scale electrical energy storage.
The growing demand for electric vehicles is a primary driver in the Sodium-Ion Battery market. Electric vehicles are a popular way to reduce carbon emissions. Governments are responding to this trend by pushing the sale of Electric Vehicles and implementing stricter rules regarding alternative energy sources. As more companies look to develop electric vehicles, sodium-ion batteries will continue to gain popularity. They are more environmentally friendly and can deliver more energy than lithium-ion batteries.
However, the market is likely to be hindered by factors such as reducing cost of lithium-ion batteries, lack of industrial supply chains and high weight disadvantage of sodium-ion battery compared to lithium-ion battery.
Key features of the study:
- This report provides in-depth analysis of the global sodium-ion battery market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global sodium-ion battery market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Natron Energy Inc., Faradion Limited, Altris AB, AMTE Power PLC, Contemporary Amperex Technology Co. Limited, NGK Insulators Ltd., and TIAMAT SAS.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global sodium-ion battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sodium-ion battery market
- Global Sodium-Ion Battery Market, By Application
- Stationary Energy Storage
- Global Sodium-Ion Battery Market, By Geography
- North America
- South America
- Middle East & Africa
- Company Profiles
- Faradion Limited
- AMTE Power PLC
- NGK Insulators Ltd
- TIAMAT SAS
- Contemporary Amperex Technology Co. Limited
- Altris AB
- Natron Energy Inc.