Market Overview:
The global sodium-ion battery energy storage system market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources and the need for grid stabilization. Sodium-ion batteries are preferred over other types of batteries due to their high efficiency, long life, and low cost. The phosphate material segment is expected to dominate the global sodium-ion battery energy storage system market during the forecast period. This can be attributed to its high capacity and long life cycle.
Product Definition:
A sodium-ion battery energy storage system is a type of rechargeable battery that uses sodium ions as the charge carriers. These batteries have a higher energy density than most other types of rechargeable batteries, making them well-suited for use in large-scale storage applications.
Phosphate Material:
Sodium-ion battery energy storage system is based on the chemical reaction between sodium and iodine. The material that provides the necessary framework for this reaction is called phosphate. It has been observed that when phosphates are added to water, they react with oxygen to produce hydrogen peroxide and then release their oxygen content. This gives a person an opportunity to generate electricity by using this process, which can be further used to power any device he/she desires.
Fluorophosphate Material:
The global fluorophosphate material and it's usage in sodium-ion battery energy storage system market size was valued at USD 4.5 million in 2016. The growing demand for renewable sources of energy along with the rising need to reduce dependency on fossil fuels is expected to drive the industry growth over the forecast period.
Fluorophosphate materials are gaining prominence as they offer high electrochemical stability, excellent thermal stability,.
Application Insights:
The power station segment dominated the market in 2017 and is expected to witness significant growth over the forecast period. The growing need for energy storage across various applications, such as grid balancing, peak demand reduction, and frequency regulation is anticipated to drive industry growth over the coming years.
Industrial use accounted for a significant share of 23.3% in 2017 owing to increasing industrialization and urbanization across various regions coupled with rising demand from manufacturing sectors such as oil & gas, chemicals, pharmaceuticals is expected to drive industry expansion over the coming years.
Others application segment includes residential use.
Regional Analysis:
Asia Pacific sodium-ion battery energy storage system market is expected to grow at the highest CAGR over the forecast period. The presence of a large number of manufacturers and OEMs in countries, such as China and Japan, has led to an increased demand for these systems in this region. In addition, growing penetration of renewable power sources across various industries including transportation is anticipated to drive the regional market growth over the forecast period.
The European Commission's Horizon 2020 Strategy sets out a long-term vision for sustainable economic growth with low carbon emissions by supporting R&D activities that aim at developing innovative technologies with high potential for industrial application. Sodium batteries have been identified as one such technology that can be utilized across several sectors including power generation, which will propel its adoption across Europe during the forecast period.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for sodium-ion battery energy storage systems, as they are ideal for use in electric vehicles.
- Government initiatives and subsidies: Governments across the globe are promoting the use of renewable energy sources and electric vehicles through various initiatives and subsidies. This is expected to drive the growth of the sodium-ion battery energy storage system market during the forecast period.
- Declining prices of lithium-ion batteries: The prices of lithium-ion batteries have been declining steadily over the past few years, owing to advancements in technology and increased production capacity worldwide. However, sodium-ion batteries are still relatively expensive as compared to lithium-ion batteries. This is likely to change over time as technological advancements bring down costs further, thereby boosting market growth prospects during the forecast period..
Scope Of The Report
Report Attributes
Report Details
Report Title
Sodium-ion Battery Energy Storage System Market Research Report
By Type
Phosphate Material, Fluorophosphate Material
By Application
Power Station, Industrial Use, Others
By Companies
Contemporary Amperex Technology Co., Limited., Liaoning Xikong Sodium-ion Battery, HiNa Battery Technology Co., Ltd, Faradion Limited
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
182
Number of Tables & Figures
128
Customization Available
Yes, the report can be customized as per your need.
Global Sodium-ion Battery Energy Storage System Market Report Segments:
The global Sodium-ion Battery Energy Storage System market is segmented on the basis of:
Types
Phosphate Material, Fluorophosphate Material
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Station, Industrial Use, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Contemporary Amperex Technology Co., Limited.
- Liaoning Xikong Sodium-ion Battery
- HiNa Battery Technology Co., Ltd
- Faradion Limited
Highlights of The Sodium-ion Battery Energy Storage System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Phosphate Material
- Fluorophosphate Material
- By Application:
- Power Station
- Industrial Use
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Sodium-ion Battery Energy Storage System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A sodium-ion battery energy storage system is a type of energy storage system that uses sodium ions to store electrical energy. Sodium-ion batteries are often used in portable electronic devices, such as smartphones and laptops, because they have a longer battery life than other types of batteries.
Some of the key players operating in the sodium-ion battery energy storage system market are Contemporary Amperex Technology Co., Limited., Liaoning Xikong Sodium-ion Battery, HiNa Battery Technology Co., Ltd, Faradion Limited.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sodium-ion Battery Energy Storage System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Sodium-ion Battery Energy Storage System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sodium-ion Battery Energy Storage System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Sodium-ion Battery Energy Storage System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Sodium-ion Battery Energy Storage System Market Size & Forecast, 2018-2028
4.5.1 Sodium-ion Battery Energy Storage System Market Size and Y-o-Y Growth
4.5.2 Sodium-ion Battery Energy Storage System Market Absolute $ Opportunity
Chapter 5 Global Sodium-ion Battery Energy Storage System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Sodium-ion Battery Energy Storage System Market Size Forecast by Type
5.2.1 Phosphate Material
5.2.2 Fluorophosphate Material
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Sodium-ion Battery Energy Storage System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
6.2.1 Power Station
6.2.2 Industrial Use
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sodium-ion Battery Energy Storage System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Sodium-ion Battery Energy Storage System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Sodium-ion Battery Energy Storage System Analysis and Forecast
9.1 Introduction
9.2 North America Sodium-ion Battery Energy Storage System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Sodium-ion Battery Energy Storage System Market Size Forecast by Type
9.6.1 Phosphate Material
9.6.2 Fluorophosphate Material
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
9.10.1 Power Station
9.10.2 Industrial Use
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Sodium-ion Battery Energy Storage System Analysis and Forecast
10.1 Introduction
10.2 Europe Sodium-ion Battery Energy Storage System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Sodium-ion Battery Energy Storage System Market Size Forecast by Type
10.6.1 Phosphate Material
10.6.2 Fluorophosphate Material
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
10.10.1 Power Station
10.10.2 Industrial Use
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Sodium-ion Battery Energy Storage System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Sodium-ion Battery Energy Storage System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Sodium-ion Battery Energy Storage System Market Size Forecast by Type
11.6.1 Phosphate Material
11.6.2 Fluorophosphate Material
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
11.10.1 Power Station
11.10.2 Industrial Use
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Sodium-ion Battery Energy Storage System Analysis and Forecast
12.1 Introduction
12.2 Latin America Sodium-ion Battery Energy Storage System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Sodium-ion Battery Energy Storage System Market Size Forecast by Type
12.6.1 Phosphate Material
12.6.2 Fluorophosphate Material
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
12.10.1 Power Station
12.10.2 Industrial Use
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Sodium-ion Battery Energy Storage System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Sodium-ion Battery Energy Storage System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Sodium-ion Battery Energy Storage System Market Size Forecast by Type
13.6.1 Phosphate Material
13.6.2 Fluorophosphate Material
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Sodium-ion Battery Energy Storage System Market Size Forecast by Applications
13.10.1 Power Station
13.10.2 Industrial Use
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Sodium-ion Battery Energy Storage System Market: Competitive Dashboard
14.2 Global Sodium-ion Battery Energy Storage System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Contemporary Amperex Technology Co., Limited.
14.3.2 Liaoning Xikong Sodium-ion Battery
14.3.3 HiNa Battery Technology Co., Ltd
14.3.4 Faradion Limited
