Sodium Ion Battery Market
PUBLISHED: 2024 ID: SMRC27366
SHARE
SHARE

Sodium Ion Battery Market

Sodium-Ion Battery Market Forecasts to 2030 - Global Analysis By Type (Sodium-Sulfur Batteries, Sodium-Ion Batteries, Sodium-Salt Batteries (Zebra Batteries) and Other Types), Capacity, Voltage, Component , Technology , Application, End User and By Geography

5.0 (98 reviews)
5.0 (98 reviews)
Published: 2024 ID: SMRC27366

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Sodium-Ion Battery Market is accounted for $0.61 billion in 2024 and is expected to reach $2.19 billion by 2030 growing at a CAGR of 23.5% during the forecast period. A sodium-ion battery is a type of rechargeable battery that utilizes sodium ions (Na?) as charge carriers instead of lithium ions (Li?), which are commonly used in lithium-ion batteries. Their uses in renewable energy systems, grid energy storage, and electric vehicles (EVs) are attracting more attention. Demand for more secure, scalable energy storage solutions is expected to propel the market's substantial expansion, which will be facilitated by the abundance of salt resources and reduced material costs.

Market Dynamics: 

Driver: 

Growing demand for renewable energy storage

Demand for sodium-ion batteries is surging, mostly due to the rising need for effective energy storage solutions in renewable energy applications. Especially in areas with expensive or scarce lithium supplies, sodium-ion batteries present a viable substitute for lithium-ion batteries. Large-scale energy storage projects, like grid-level applications and electric vehicles, find them appealing due to their reduced cost, abundance of sodium, and relatively decent performance. The need for sodium-ion batteries is predicted to increase further as the globe shifts to greener, more sustainable energy sources, which will fuel this market's substantial expansion.

Restraint:

Limited commercial availability

As the technology remains in its early stages compared to the well-established lithium-ion batteries, limited commercial availability is a major problem in the sodium-ion battery business. Though promising, sodium-ion batteries have only been commercialized by a small number of companies, mostly for specialized uses such as limited electric vehicle models and grid energy storage. Widespread commercialization is hampered by the absence of a fully built manufacturing infrastructure, supply chains, and mass production capabilities, which slows acceptance and restricts end users' ability to utilize technologies.

Opportunity:

Government Support and Policies

Globally, governments are proactively promoting the advancement and widespread use of sodium-ion batteries via several laws and campaigns. These policies support the use of sodium-ion batteries in energy storage applications by providing funding for research, offering tax breaks and subsidies, and establishing regulatory frameworks. The ability of sodium-ion batteries to improve economic growth, lower greenhouse gas emissions, and increase energy security is acknowledged by governments. Governments are propelling the shift to a more sustainable energy future by fostering an environment that is conducive to the research and commercialization of sodium-ion batteries.

Threat:

Lack of industry standardization

The sodium-ion battery market is significantly limited in its expansion by the absence of industry standardization. There are no consistent criteria for sodium-ion batteries, in contrast to lithium-ion batteries, which have set standards for performance, safety, and production. The lack of uniform criteria results in inconsistent product quality, impedes large-scale production, and makes regulatory approvals more difficult. Commercialization efforts are further hampered by the variety of battery designs and materials, which makes it challenging for businesses to scale production and for consumers to firmly accept sodium-ion technology.

Covid-19 Impact

The COVID-19 epidemic caused disruptions in the supply chain, postponed research and development, and reduced manufacturing capacity, all of which slowed the expansion of the sodium-ion battery market. Restrictions and lockdowns caused projects to be delayed and demand to decline, especially in the industrial and automotive sectors. Post-pandemic interest was sparked by the pandemic's recognition of the necessity for robust energy storage systems to facilitate the integration of renewable energy sources. 

The sodium-sulfur batteries segment is expected to be the largest during the forecast period

During the forecast period, the sodium-sulfur batteries segment is anticipated to register the largest market share, because of their remarkable energy density and thermal stability, sodium-sulfur batteries play a key role in propelling the sodium-ion battery market. They are suited for large-scale energy storage applications since they can function effectively at high temperatures. Furthermore, as sodium-sulfur batteries are made of cheap, readily available ingredients, they represent an affordable and environmentally beneficial alternative to lithium-ion batteries in the race for sustainable energy sources.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is projected to have the highest CAGR in the Sodium-Ion Battery market during the extrapolated period, due to the rising demand for environmentally friendly and reasonably priced electric vehicles (EVs). Sodium-ion batteries, which use an excess of sodium to lower production costs, offer a more affordable option to conventional lithium-ion batteries. Their reduced weight, stability, and safety make them more appealing for use in automobile applications. As long as sodium-ion battery technology is advancing to increase energy density and cycle life, these batteries will be essential to the electrification of transportation and the shift to more environmentally friendly mobility options.

Region with largest share:

The Asia Pacific region is projected to account for the largest market share during the forecast period, due to the rising adoption of renewable energy, electric vehicles (EVs), and government programs supporting sustainable energy solutions. Strong energy storage investments are being made by nations like China, Japan, and India in an effort to promote renewable energy networks and lessen reliance on lithium supplies. The region of Asia-Pacific is leading in the research and commercialization of sodium-ion batteries due to the abundant supply of sodium and affordable manufacturing, which spurs innovation and growth.

Region with highest CAGR:

Over the forecasted timeframe, the North America region is anticipated to exhibit the highest CAGR, as a result of the growing demand for electric cars (EVs) and the heavy emphasis on renewable energy sources. Innovation in sodium-ion battery research and development is encouraged by government efforts promoting renewable energy technology. The established industrial environment in the area also makes it easier to incorporate sodium-ion technology into a variety of applications. The need for effective energy storage solutions is being further fuelled by the expanding renewable energy sector, especially by solar and wind power.

Key players in the market

Some of the key players profiled in the Sodium-Ion Battery Market include Faradion Ltd., Natron Energy, Tiamat Energy, Altris AB, HiNa Battery Technology, Aquion Energy, NGK Insulators, Ltd., AMTE Power, Contemporary Amperex Technology Co., Ltd. (CATL), Ronbay Technology, TIAMAT SAS, Uppsala University, Renault Group, Zhejiang Tianneng Energy Technology, Fluence Energy, Shanghai Space Power-sources Co., Ltd. (SSPS), Solaris Technology Industry, Battery Resourcers, Enerox GmbH and MOL Group.

Key Developments:

In April 2024, Faradion Limited secured significant funding to expand its production capabilities for sodium-ion batteries, targeting both consumer electronics and renewable energy applications.

In January 2024, CATL announced advancements in sodium-ion battery technology, enhancing energy density and cycle life, positioning itself as a leader in the emerging market.

Types Covered:
• Sodium-Sulfur Batteries
• Sodium-Ion Batteries
• Sodium-Salt Batteries (Zebra Batteries)
• Other Types 

Capacities Covered:
• Low-Capacity (Up to 1000 mAh)
• Medium-Capacity (1000 – 5000 mAh)
• High-Capacity (Above 5000 mAh)

Voltages Covered:
• Low Voltage (Up to 2V)
• Medium Voltage (2V – 5V)
• High Voltage (Above 5V)

Components Covered:
• Cathode Material
• Anode Material
• Electrolyte
• Separator
• Other Components

Technologies Covered:
• Aqueous
• Non-Aqueous
• Other Technologies

Applications Covered:
• Automotive
• Energy Storage Systems (ESS)
• Consumer Electronics
• Industrial
• Transportation and Logistics
• Other Applications

End Users Covered:
• Commercial
• Residential
• Utility/Grid
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology     
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions     
         
3 Market Trend Analysis      
 3.1 Introduction      
 3.2 Drivers       
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats       
 3.6 Technology Analysis     
 3.7 Application Analysis     
 3.8 End User Analysis      
 3.9 Emerging Markets      
 3.10 Impact of Covid-19      
         
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry      
         
5 Global Sodium-Ion Battery Market, By Type    
 5.1 Introduction      
 5.2 Sodium-Sulfur Batteries     
 5.3 Sodium-Ion Batteries     
 5.4 Sodium-Salt Batteries (Zebra Batteries)    
 5.5 Other Types      
         
6 Global Sodium-Ion Battery Market, By Capacity    
 6.1 Introduction      
 6.2 Low-Capacity (Up to 1000 mAh)    
 6.3 Medium-Capacity (1000 – 5000 mAh)    
 6.4 High-Capacity (Above 5000 mAh)    
         
7 Global Sodium-Ion Battery Market, By Voltage    
 7.1 Introduction      
 7.2 Low Voltage (Up to 2V)     
 7.3 Medium Voltage (2V – 5V)     
 7.4 High Voltage (Above 5V)     
         
8 Global Sodium-Ion Battery Market, By Component    
 8.1 Introduction      
 8.2 Cathode Material      
 8.3 Anode Material      
 8.4 Electrolyte      
 8.5 Separator      
 8.6 Other Components      
         
9 Global Sodium-Ion Battery Market, By Technology    
 9.1 Introduction      
 9.2 Aqueous       
 9.3 Non-Aqueous      
 9.4 Other Technologies      
         
10 Global Sodium-Ion Battery Market, By Application    
 10.1 Introduction      
 10.2 Automotive      
 10.3 Energy Storage Systems (ESS)     
 10.4 Consumer Electronics     
 10.5 Industrial       
 10.6 Transportation and Logistics     
 10.7 Other Applications      
         
11 Global Sodium-Ion Battery Market, By End User    
 11.1 Introduction      
 11.2 Commercial      
 11.3 Residential      
 11.4 Utility/Grid      
 11.5 Other End Users      
         
12 Global Sodium-Ion Battery Market, By Geography    
 12.1 Introduction      
 12.2 North America      
  12.2.1 US      
  12.2.2 Canada      
  12.2.3 Mexico      
 12.3 Europe       
  12.3.1 Germany      
  12.3.2 UK      
  12.3.3 Italy      
  12.3.4 France      
  12.3.5 Spain      
  12.3.6 Rest of Europe     
 12.4 Asia Pacific      
  12.4.1 Japan      
  12.4.2 China      
  12.4.3 India      
  12.4.4 Australia      
  12.4.5 New Zealand     
  12.4.6 South Korea     
  12.4.7 Rest of Asia Pacific     
 12.5 South America      
  12.5.1 Argentina     
  12.5.2 Brazil      
  12.5.3 Chile      
  12.5.4 Rest of South America    
 12.6 Middle East & Africa     
  12.6.1 Saudi Arabia     
  12.6.2 UAE      
  12.6.3 Qatar      
  12.6.4 South Africa     
  12.6.5 Rest of Middle East & Africa    
         
13 Key Developments       
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 13.2 Acquisitions & Mergers     
 13.3 New Product Launch     
 13.4 Expansions      
 13.5 Other Key Strategies     
         
14 Company Profiling       
 14.1 Faradion Ltd.      
 14.2 Natron Energy      
 14.3 Tiamat Energy      
 14.4 Altris AB       
 14.5 HiNa Battery Technology     
 14.6 Aquion Energy      
 14.7 NGK Insulators, Ltd.      
 14.8 AMTE Power      
 14.9 Contemporary Amperex Technology Co., Ltd. (CATL)  
 14.10 Ronbay Technology      
 14.11 TIAMAT SAS      
 14.12 Uppsala University      
 14.13 Renault Group      
 14.14 Zhejiang Tianneng Energy Technology    
 14.15 Fluence Energy      
 14.16 Shanghai Space Power-sources Co., Ltd. (SSPS)   
 14.17 Solaris Technology Industry     
 14.18 Battery Resourcers      
 14.19 Enerox GmbH      
 14.20 MOL Group      
         
List of Tables        
1 Global Sodium-Ion Battery Market Outlook, By Region (2022-2030) ($MN) 
2 Global Sodium-Ion Battery Market Outlook, By Type (2022-2030) ($MN)  
3 Global Sodium-Ion Battery Market Outlook, By Sodium-Sulfur Batteries (2022-2030) ($MN)
4 Global Sodium-Ion Battery Market Outlook, By Sodium-Ion Batteries (2022-2030) ($MN)
5 Global Sodium-Ion Battery Market Outlook, By Sodium-Salt Batteries (Zebra Batteries) (2022-2030) ($MN)
6 Global Sodium-Ion Battery Market Outlook, By Other Types (2022-2030) ($MN) 
7 Global Sodium-Ion Battery Market Outlook, By Capacity (2022-2030) ($MN) 
8 Global Sodium-Ion Battery Market Outlook, By Low-Capacity (Up to 1000 mAh) (2022-2030) ($MN)
9 Global Sodium-Ion Battery Market Outlook, By Medium-Capacity (1000 – 5000 mAh) (2022-2030) ($MN)
10 Global Sodium-Ion Battery Market Outlook, By High-Capacity (Above 5000 mAh) (2022-2030) ($MN)
11 Global Sodium-Ion Battery Market Outlook, By Voltage (2022-2030) ($MN) 
12 Global Sodium-Ion Battery Market Outlook, By Low Voltage (Up to 2V) (2022-2030) ($MN)
13 Global Sodium-Ion Battery Market Outlook, By Medium Voltage (2V – 5V) (2022-2030) ($MN)
14 Global Sodium-Ion Battery Market Outlook, By High Voltage (Above 5V) (2022-2030) ($MN)
15 Global Sodium-Ion Battery Market Outlook, By Component (2022-2030) ($MN) 
16 Global Sodium-Ion Battery Market Outlook, By Cathode Material (2022-2030) ($MN)
17 Global Sodium-Ion Battery Market Outlook, By Anode Material (2022-2030) ($MN) 
18 Global Sodium-Ion Battery Market Outlook, By Electrolyte (2022-2030) ($MN) 
19 Global Sodium-Ion Battery Market Outlook, By Separator (2022-2030) ($MN) 
20 Global Sodium-Ion Battery Market Outlook, By Other Components (2022-2030) ($MN)
21 Global Sodium-Ion Battery Market Outlook, By Technology (2022-2030) ($MN) 
22 Global Sodium-Ion Battery Market Outlook, By Aqueous (2022-2030) ($MN) 
23 Global Sodium-Ion Battery Market Outlook, By Non-Aqueous (2022-2030) ($MN) 
24 Global Sodium-Ion Battery Market Outlook, By Other Technologies (2022-2030) ($MN)
25 Global Sodium-Ion Battery Market Outlook, By Application (2022-2030) ($MN) 
26 Global Sodium-Ion Battery Market Outlook, By Automotive (2022-2030) ($MN) 
27 Global Sodium-Ion Battery Market Outlook, By Energy Storage Systems (ESS) (2022-2030) ($MN)
28 Global Sodium-Ion Battery Market Outlook, By Consumer Electronics (2022-2030) ($MN)
29 Global Sodium-Ion Battery Market Outlook, By Industrial (2022-2030) ($MN) 
30 Global Sodium-Ion Battery Market Outlook, By Transportation and Logistics (2022-2030) ($MN)
31 Global Sodium-Ion Battery Market Outlook, By Other Applications (2022-2030) ($MN)
32 Global Sodium-Ion Battery Market Outlook, By End User (2022-2030) ($MN) 
33 Global Sodium-Ion Battery Market Outlook, By Commercial (2022-2030) ($MN) 
34 Global Sodium-Ion Battery Market Outlook, By Residential (2022-2030) ($MN) 
35 Global Sodium-Ion Battery Market Outlook, By Utility/Grid (2022-2030) ($MN) 
36 Global Sodium-Ion Battery Market Outlook, By Other End Users (2022-2030) ($MN) 
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials