Global Sodium Ion Battery Market Size 2022-27: Industry Share, Trends, Growth and Forecast

The latest research study "Sodium Ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the Global Sodium Ion Battery Market size reached US$ 253.44 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 577.41 Million by 2027 exhibiting a CAGR of 13.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Sodium ion batteries are the devices that reserve power by fusing chemical and electrical energy. They rely on the reversible movement between two electrodes through electrolytes for efficient operation. Sodium ion batteries offer various benefits, such as enhanced safety, superior environmental credentials, and improved raw material costs when compared to lithium-ion (Li-ion) batteries. They are made from materials that are non-flammable, energy-dense, and operate well in colder temperatures. As a result, sodium ion batteries find widespread applications across several sectors, including transportation, defense, aerospace, marine, energy, etc.

Sodium Ion Battery Trends and Drivers:

The escalating product utilization to store electricity generated through solar or wind energy, on account of the rising greenhouse gas emission levels, is among the primary factors driving the sodium ion battery market. Besides this, the elevating number of investments by the leading players for the introduction of enhanced stationary energy storage is further augmenting the market growth.

Apart from this, the increasing awareness among individuals towards the benefits of sodium ion batteries, such as low charging time and high energy density, is also catalyzing the global market.

Moreover, the launch of various policies by the government bodies to promote the production of renewable energy to provide fuel diversification and reliable power supplies is acting as another significant growth-inducing factor. Furthermore, the inflating demand for electric vehicles (EVs), owing to the zero tailpipe emissions of air pollutants, including nitrogen oxides (NOx) and particles, is expected to bolster the sodium ion battery market in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:
• Sodium-Sulphur Battery
• Sodium-Salt Battery
• Sodium-Air Battery

Breakup by Application:
• Stationary Energy Storage
• Transportation

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:

The major players in the market are Altris AB, AMTE Power plc, Aquion Energy, Faradion Limited, HiNa Battery Technology Co. Ltd., Natron Energy Inc., NEI Corporation, NGK Insulators Ltd. and Tiamat Energy

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This release was published on openPR.