Sodium Ion Battery Market Insights, Forecast From 2021 to 2031 | Valuates Reports

Sodium Ion Battery Market

According to a new report published by , titled, "Sodium Ion Battery Market," The sodium ion battery market size was valued at $0.3 billion in 2021, and sodium ion battery industry is estimated to reach $1.2 billion by 2031, growing at a CAGR of 15.9% from 2022 to 2031.

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Report Scope
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.

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Segment by Type

● Residential
● Commercial
● Industrial

Segment by End User

● Stationary Energy Storage
● Transportation

By Companies
SIBS
CATL
Faradion Limited
Natron Energy
Panasonic Corporation
Mitsubishi Corporation
Kishida Chemical
Zoolnasm
RONBAY TECHNOLOGY
Hina Battery
Natrium Energy

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This release was published on openPR.