Dublin, April 29, 2024 (GLOBE NEWSWIRE) -- The "Global Sodium-Ion Battery Market by Battery Type (Sodium-Sulfur, and Sodium-Salt), Technology Type (Aqueous and Non-Aqueous), End-Use (Energy Storage, Automotive, and Industrial), and Region (Asia Pacific, Europe, and North America) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Sodium Ion Battery Market is projected from USD 0.48 billion in 2023 to USD 1.25 billion by 2028, at a CAGR of 21.5%
The report defines, segments, and projects the sodium ion battery market based on sodium ion battery type, technology type, end-use, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, sodium ion battery manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
The relatively improved safety characteristics in comparison to the lithium-ion batteries is one of the key drivers that is boosting the sodium ion battery market.
Faradion (UK), Contemporary Amperex Technology Co., Ltd. (China), Tiamet Energy (France), HiNa Battery Technology Co., Ltd. (China) and Jiangsu Zoolnasm Energy Technology Co Ltd (China) are some of the major players operating in the sodium ion battery market. These players have adopted strategies such as acquisitions, expansions, partnerships, and agreements in order to increase their market share business revenue.
Aqueous sodium ion battery segment, by technology, is estimated to account for the second largest share during the forecast period
The aqueous sodium ion battery segment is projected to secure the second-largest share in the forecast period. Despite having a lower energy density than non-aqueous choices, aqueous sodium-ion battery technology will account for the second highest share in the industry. This is because they have a strong set of benefits, including the fact that they are cheaper to create and safer by nature because they rely on water-based electrolytes.
Automotive, by application, is estimated to account for the fastest segment during the forecast period
The automotive sector is rapidly adopting sodium-ion batteries as a sustainable energy storage solution, driven by the need for cleaner and more efficient transportation. These batteries offer several advantages, including high energy density, fast charging capabilities, and improved safety compared to traditional lithium-ion batteries. As the automotive industry strives to meet stringent emission regulations and consumer demand for electric vehicles (EVs) grows, the demand for sodium-ion batteries in this segment is expected to surge. Manufacturers are focusing on developing advanced materials and technologies to enhance the performance and cost-effectiveness of sodium-ion batteries.
The report provides insights on the following pointers:
- Analysis of key drivers (cost effectiveness and improved safety characteristics in comparison to lithium-ion batteries), restraints (lower energy density and limited lifecycle in comparison to lithium-ion batteries), opportunities (strong supply chain due to abundant sodium availability and advancements in innovation and technology in sodium ion battery market), and challenges (availability of high performance materials for sodium ion batteries, and market competition and established infrastructure) influencing the growth of the sodium ion battery market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the sodium ion battery market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the sodium ion battery market across varied regions.
- Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the sodium ion battery market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $0.48 Billion |
| Forecasted Market Value (USD) by 2028 | $1.25 Billion |
| Compound Annual Growth Rate | 21.5% |
Companies Featured
- Faradion
- Contemporary Amperex Technology Co. Ltd.
- Tiamat Energy
- Hina Battery Technology Co. Ltd.
- Jiangsu Zoolnasm Energy Technology Co. Ltd.
- Altris Ab
- Natron Energy, Inc.
- Ngk Insulators, Ltd.
- Li-Fun Technology Corporation Limited
- Jiangsu Transimage Technology Co. Ltd.
- Zhejiang Natrium Energy Co. Ltd.
- Sodion Energy Pvt. Ltd.
- Indi Energy
- Northvolt Ab
- Zonergy Corporation
- Byd Motors Inc.
- Farasis Energy Europe GmbH
- Farasis Energy(Ganzhou)Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/des6nr
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