Sodium-Ion Battery Market, By Type, By Application, By End user, By Geography

Description

The Sodium-Ion Battery Market is estimated to be valued at US$ 19.36 Bn in 2024 and is expected to reach US$ 47.96 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 19.36 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	13.80%	2031 Value Projection:	US$ 47.96 Bn

Figure. Sodium-Ion Battery Market Share (%), By Region, 2024

Sodium-ion batteries have garnered significant attention from researchers as a potential alternative to lithium-ion batteries, especially for large-scale stationary storage applications. Sodium is abundant, low-cost, and widely distributed in nature as compared to lithium. Sodium-ion batteries utilize sodium ions as charge carriers instead of lithium ions. Although sodium-based cathodes have slightly lower theoretical capacities compared to lithium-based ones, sodium is anticipated to be commercially feasible and scalable due to its widespread availability and consistent supply. Initial research on sodium-ion battery technology focused on intercalation cathodes based on transition metal oxides and phosphates reversibly insert and extract sodium ions. Recently, novel anode and cathode materials have been developed that could potentially enhance the energy density and cycle stability of sodium-ion battery systems. The global sodium-ion battery market is expected to witness robust growth over the coming years driven by the advantages of sodium and growing interest in large-scale energy storage solutions.

Market Dynamics:

The key drivers propelling the sodium-ion battery market include abundant availability of sodium, growing demand for large-scale energy storage solutions, and cost-effectiveness compared to lithium-ion batteries. Sodium has a natural abundance comparable to copper and is widely available across the globe, ensuring stable supply for battery applications. Rapid expansion of renewable energy is augmenting the need for dependable energy storage systems. Sodium-ion batteries have emerged as a sustainable alternative to lithium-ion for stationary storage at the grid level. The total cost of sodium-ion batteries is estimated to be lower than lithium-ion batteries owing to the low cost of sodium. However, low energy density compared to lithium is a major challenge. Other restraints include lack of standardized testing methodologies and relatively undeveloped supply chain infrastructure. Nonetheless, ongoing R&D for high-capacity cathode and anode materials offers an opportunity to enhance the energy density and maximize the potential of sodium-ion batteries.

Key features of the study:

This report provides an in-depth analysis of the global sodium-ion battery market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global sodium-ion battery market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Aquion Energy, Zhejiang Lvming Energy (Durathon), Faradion Limited, Panasonic Corporation, HiNa Battery Technology, Qintang New Energy, Liaoning Hongcheng, Nrgtek Inc., AGM Batteries Ltd., NGK, NEI Corporation, Aquion Energy, NEC Energy Solutions, Cuberg, Tiamat Energy, Nilar, Ambri, and EnergyNest.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global sodium-ion battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sodium-ion battery market.

Detailed Segmentation-

By Type
- Sodium-Sulphur Battery
- Sodium-Salt Battery
- Sodium-Air Battery
By Application
- Stationary Energy Storage
- Transportation
By End User
- Consumer Electronic Devices
- Automobile & Transportation
- Power Backup
- Industrial
- Aerospace & defence
- Marine
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- Aquion Energy
- Zhejiang Lvming Energy (Durathon)
- Faradion Limited
- Panasonic Corporation
- HiNa Battery Technology
- Qintang New Energy
- Liaoning Hongcheng
- Nrgtek Inc.
- AGM Batteries Ltd.
- NGK
- NEI Corporation
- Aquion Energy
- NEC Energy Solutions
- Cuberg
- Tiamat Energy
- Nilar
- Ambri
- EnergyNest

Product Code: CMI5353

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By End user
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of the COVID-19 Pandemic

4. Global Sodium-Ion Battery Market, By Type, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Sodium-Sulphur Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Sodium-Salt Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Sodium-Air Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Sodium-Ion Battery Market, By Application, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Segment Trends
Stationary Energy Storage
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Transportation
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Sodium-Ion Battery Market, By End User, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Segment Trends
Consumer Electronic Devices
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Automobile & Transportation
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Power Backup
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Industrial
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Aerospace & defense
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Marine
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Sodium-Ion Battery Market, By Region, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By End User, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - U.S.
  - Canada
  - Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By End User, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - U.K.
  - Germany
  - Italy
  - France
  - Russia
  - Rest of Europe
  - Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By End User, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - China
  - India
  - ASEAN
  - Australia
  - South Korea
  - Japan
  - Rest of Asia Pacific
  - Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By End User, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By End User, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - GCC Countries
  - South Africa
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Aquion Energy
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Zhejiang Lvming Energy (Durathon)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Faradion Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Panasonic Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- HiNa Battery Technology
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Qintang New Energy
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Liaoning Hongcheng
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nrgtek Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AGM Batteries Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- NGK
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- NEI Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
  - Recent Developments/Updates
- NEC Energy Solutions
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cuberg
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Tiamat Energy
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nilar
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ambri
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- EnergyNest
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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