나트륨 이온 배터리 시장 보고서 : 유형별, 용도별, 지역별(2024-2032년)

The global sodium ion battery market size reached US$ 328.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 922.3 Million by 2032, exhibiting a growth rate (CAGR) of 11.9% during 2024-2032. The increasing demand for sustainable energy storage solutions, abundant sodium resources, emerging large-scale energy storage applications, and ongoing technological advancements in sodium-ion battery technology are some of the major factors propelling the market.

A sodium-ion battery is a type of rechargeable energy storage device that employs sodium ions (Na+) as the primary charge carriers. It is used as an alternative to lithium-ion batteries due to the abundance of sodium resources and potential cost benefits. In a sodium-ion battery, during discharge, sodium ions move from the cathode to the anode through an electrolyte, creating an electric current. During charging, this process is reversed. The technology's scalability and compatibility with existing battery manufacturing infrastructure make it an intriguing prospect for various applications, such as renewable energy storage and electric vehicles.

The global sodium ion battery market is experiencing notable growth due to the increasing demand for sustainable energy storage solutions prompting research and investment in alternative battery technologies, including sodium-ion batteries. Besides this, expanding product utilization due to its potential to offer cost-effective and environmentally friendly options is creating a positive outlook for market expansion. Moreover, the abundant availability of sodium resources compared to lithium has sparked interest in sodium-ion batteries to mitigate supply chain vulnerabilities, bolstering the market growth. In addition to this, sodium-ion batteries are being explored for large-scale energy storage applications, such as renewable energy integration and grid stabilization, which are presenting lucrative opportunities for market expansion. Furthermore, ongoing advancements in materials science and electrode design that enhance the performance and energy density of sodium-ion batteries, making them more competitive with established technologies, are fueling the market growth.

Sodium Ion Battery Market Trends/Drivers:

Demand for sustainable energy storage solutions

The rising demand for sustainable energy storage solutions is a significant driver for the sodium-ion battery market. As the world transitions towards renewable energy sources, effective energy storage becomes crucial for maintaining a stable and reliable energy supply, impelling the product adoption. Concurrent with this, the expanding use of sodium-ion batteries for storing energy generated from renewable sources such as solar and wind due to their potential to offer high energy density and storage capacity is contributing to the market's growth. Furthermore, their ability to store large amounts of energy over extended periods aligns with the intermittent nature of renewable energy generation, making them attractive for grid integration and peak load management, thereby aiding in market expansion.

Abundance of sodium resources

The abundance of sodium resources compared to lithium is acting as another significant growth-inducing factor propelling the expansion of sodium-ion batteries. Besides this, lithium-ion batteries, which dominate the battery market, face supply chain challenges due to limited global reserves of lithium. In contrast, sodium is widely available, reducing concerns about resource scarcity and geopolitical dependencies. This advantage not only contributes to the stability of the supply chain but also potentially leads to lower production costs, making sodium-ion batteries an economically feasible alternative, and creating a favorable outlook for the market growth.

Emergence of large-scale energy storage applications

Sodium-ion batteries are gaining traction for large-scale energy storage applications. They are being explored for their potential to stabilize power grids, provide backup power during outages, and support remote areas with limited access to reliable electricity. The scalability of sodium-ion batteries is a key advantage, as they can be deployed in arrays to create high-capacity energy storage systems. This is particularly valuable for industries and utilities looking to balance supply and demand, reduce peak load strain, and enhance grid resilience. The development of efficient and cost-effective large-scale sodium-ion battery systems is providing remunerative opportunities for the market.

Sodium Ion Battery Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global sodium ion battery market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type and application.

Breakup by Type:

Sodium-Sulphur Battery

Sodium-Salt Battery

Sodium-Air Battery

Sodium-sulphur battery dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes sodium-sulphur, sodium-salt, and sodium-air batteries. According to the report, sodium-sulphur battery represented the largest segment.

The demand for sodium-sulfur batteries is being propelled by their unique capabilities and suitability for specific applications. These batteries exhibit high energy density and exceptional cycle life, making them well-suited for applications requiring long-duration energy storage and deep cycling capabilities. Moreover, their ability to maintain performance over numerous charge-discharge cycles makes them a preferred choice for grid-level energy storage, load leveling, and renewable energy integration, which, in turn, is strengthening the market growth. Additionally, sodium-sulfur batteries find relevance in industries with demanding energy requirements, such as telecommunications, where reliable backup power is crucial. As these batteries continue to demonstrate their effectiveness in addressing specific energy storage needs, the demand for sodium-sulfur batteries is on the rise, particularly in sectors where their distinct advantages align with operational requirements.

Breakup by Application:

Stationary Energy Storage

Transportation

Stationary energy storage holds the largest share of the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes stationary energy storage and transportation. According to the report, stationary energy storage accounted for the largest market share.

The surging demand for sodium-ion batteries in stationary energy storage driven by their potential to address critical challenges associated with renewable energy integration and grid stability represents one of the main factors impelling the market growth. These batteries offer scalability and cost-effectiveness, making them suitable for storing surplus energy generated from renewable sources and releasing it during periods of high demand. In addition to this, sodium-ion batteries also exhibit a longer cycle life and higher thermal stability compared to some other battery chemistries, which enhances their reliability in stationary applications, thereby bolstering the market growth. Furthermore, their ability to be deployed in various sizes and configurations enables tailored solutions for grid support, peak shaving, and off-grid electrification, further propelling their adoption in the stationary energy storage sector.

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

Europe exhibits a clear dominance, accounting for the largest sodium ion battery market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

The European Union's strong emphasis on sustainability and clean energy transition has led to increased investments in innovative energy storage solutions. Sodium-ion batteries, with their potential to complement renewable energy sources, align well with these objectives, fueling the market growth in the Europe region. Moreover, rising research and development (R&D) efforts in Europe have resulted in notable improvements in the performance and efficiency of sodium-ion batteries, making them more viable for commercial applications, which is providing impetus to the market growth. In addition to this, extensive collaborations between academia, industry players, and government initiatives, fostering a conducive environment for sodium-ion battery innovation and adoption across various sectors including renewable energy integration and electric transportation is supporting market growth.

Competitive Landscape:

The competitive landscape of the global sodium-ion battery market is characterized by a dynamic interplay of established players, emerging startups, and research institutions. Leading companies in the energy storage sector, alongside prominent battery manufacturers, are actively participating in the development and commercialization of sodium-ion battery technology. Concurrently, various innovative startups are entering the scene, focusing on niche applications, novel electrode materials, and advanced manufacturing techniques. Their agility and fresh perspectives contribute to pushing the technological boundaries of sodium-ion batteries. Research institutions and academia also play a pivotal role in shaping the landscape through fundamental advancements in materials science, electrode designs, and energy management systems. Their collaborations with industry players foster technology transfer and pave the way for cutting-edge developments.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Altris AB

AMTE Power plc

Aquion Energy

Faradion Limited

HiNa Battery Technology Co. Ltd.

Natron Energy Inc.

NEI Corporation

NGK Insulators Ltd.

Tiamat Energy

Recent Developments:

In May 2022, Natron Energy, Inc. and Clarios International Inc. announced a strategic partnership to produce sodium-ion batteries, with the Meadowbrook facility of Clarios set to become the world's largest and first mass-produced sodium-ion battery plant, starting production in 2023 with an annual capacity of 600MW.

In June 2021, HiNa Battery Technology Co., Ltd. partnered with the Chinese Academy of Sciences to set up a 1 MWh sodium-ion battery-based solar energy storage system in Taiyuan, China, featuring a micro-grid that integrates solar cells, grid power, and charging stations.

Key Questions Answered in This Report

• 1. How big is the global sodium ion battery market?
• 2. What is the expected growth rate of the global sodium ion battery market during 2024-2032?
• 3. What are the key factors driving the global sodium ion battery market?
• 4. What has been the impact of COVID-19 on the global sodium ion battery market?
• 5. What is the breakup of the global sodium ion battery market based on the type?
• 6. What is the breakup of the global sodium ion battery market based on the application?
• 7. What are the key regions in the global sodium ion battery market?
• 8. Who are the key players/companies in the global sodium ion battery market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Sodium Ion Battery Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Type

• 6.1 Sodium-Sulphur Battery
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Sodium-Salt Battery
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Sodium-Air Battery
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast

7 Market Breakup by Application

• 7.1 Stationary Energy Storage
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Transportation
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Region

• 8.1 North America
  • 8.1.1 United States
    • 8.1.1.1 Market Trends
    • 8.1.1.2 Market Forecast
  • 8.1.2 Canada
    • 8.1.2.1 Market Trends
    • 8.1.2.2 Market Forecast
• 8.2 Asia-Pacific
  • 8.2.1 China
    • 8.2.1.1 Market Trends
    • 8.2.1.2 Market Forecast
  • 8.2.2 Japan
    • 8.2.2.1 Market Trends
    • 8.2.2.2 Market Forecast
  • 8.2.3 India
    • 8.2.3.1 Market Trends
    • 8.2.3.2 Market Forecast
  • 8.2.4 South Korea
    • 8.2.4.1 Market Trends
    • 8.2.4.2 Market Forecast
  • 8.2.5 Australia
    • 8.2.5.1 Market Trends
    • 8.2.5.2 Market Forecast
  • 8.2.6 Indonesia
    • 8.2.6.1 Market Trends
    • 8.2.6.2 Market Forecast
  • 8.2.7 Others
    • 8.2.7.1 Market Trends
    • 8.2.7.2 Market Forecast
• 8.3 Europe
  • 8.3.1 Germany
    • 8.3.1.1 Market Trends
    • 8.3.1.2 Market Forecast
  • 8.3.2 France
    • 8.3.2.1 Market Trends
    • 8.3.2.2 Market Forecast
  • 8.3.3 United Kingdom
    • 8.3.3.1 Market Trends
    • 8.3.3.2 Market Forecast
  • 8.3.4 Italy
    • 8.3.4.1 Market Trends
    • 8.3.4.2 Market Forecast
  • 8.3.5 Spain
    • 8.3.5.1 Market Trends
    • 8.3.5.2 Market Forecast
  • 8.3.6 Russia
    • 8.3.6.1 Market Trends
    • 8.3.6.2 Market Forecast
  • 8.3.7 Others
    • 8.3.7.1 Market Trends
    • 8.3.7.2 Market Forecast
• 8.4 Latin America
  • 8.4.1 Brazil
    • 8.4.1.1 Market Trends
    • 8.4.1.2 Market Forecast
  • 8.4.2 Mexico
    • 8.4.2.1 Market Trends
    • 8.4.2.2 Market Forecast
  • 8.4.3 Others
    • 8.4.3.1 Market Trends
    • 8.4.3.2 Market Forecast
• 8.5 Middle East and Africa
  • 8.5.1 Market Trends
  • 8.5.2 Market Breakup by Country
  • 8.5.3 Market Forecast

9 SWOT Analysis

• 9.1 Overview
• 9.2 Strengths
• 9.3 Weaknesses
• 9.4 Opportunities
• 9.5 Threats

10 Value Chain Analysis

11 Porters Five Forces Analysis

• 11.1 Overview
• 11.2 Bargaining Power of Buyers
• 11.3 Bargaining Power of Suppliers
• 11.4 Degree of Competition
• 11.5 Threat of New Entrants
• 11.6 Threat of Substitutes

12 Price Analysis

13 Competitive Landscape

• 13.1 Market Structure
• 13.2 Key Players
• 13.3 Profiles of Key Players
  • 13.3.1 Altris AB
    • 13.3.1.1 Company Overview
    • 13.3.1.2 Product Portfolio
  • 13.3.2 AMTE Power plc
    • 13.3.2.1 Company Overview
    • 13.3.2.2 Product Portfolio
  • 13.3.3 Aquion Energy
    • 13.3.3.1 Company Overview
    • 13.3.3.2 Product Portfolio
  • 13.3.4 Faradion Limited
    • 13.3.4.1 Company Overview
    • 13.3.4.2 Product Portfolio
  • 13.3.5 HiNa Battery Technology Co. Ltd.
    • 13.3.5.1 Company Overview
    • 13.3.5.2 Product Portfolio
  • 13.3.6 Natron Energy Inc.
    • 13.3.6.1 Company Overview
    • 13.3.6.2 Product Portfolio
  • 13.3.7 NEI Corporation
    • 13.3.7.1 Company Overview
    • 13.3.7.2 Product Portfolio
  • 13.3.8 NGK Insulators Ltd.
    • 13.3.8.1 Company Overview
    • 13.3.8.2 Product Portfolio
    • 13.3.8.3 Financials
    • 13.3.8.4 SWOT Analysis
  • 13.3.9 Tiamat Energy
    • 13.3.9.1 Company Overview
    • 13.3.9.2 Product Portfolio