Market Overview:
The global sodium salt battery market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy storage systems, rising concerns over climate change, and growing investments in renewable energy sources. The sodium-nickel-chloride battery segment is expected to account for the largest share of the global sodium salt battery market in 2018. This segment is also projected to grow at the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to its advantages such as high efficiency, long life cycle, and low maintenance cost. The transportation sector is expected to account for the largest share of the global sodium salt battery market in 2018.
Product Definition:
A sodium salt battery is a type of electrochemical cell that uses molten sodium and potassium chlorides as electrolytes. These batteries are used for grid energy storage and have the potential to store large amounts of energy.
Sodium-Nickel-Chloride Battery:
Sodium-Nickel-Chloride battery, commonly called as NMC or sodium nickel chloride, is a type of secondary battery. It was developed in the early 20th century and has been used ever since. The development of the electric automobile industry led to an increase in research activities for new energy sources; this trend continues to this day with hybrid electric vehicles on the rise.
NaS Battery:
A sodium-sulfur battery is a rechargeable battery that uses an electrolyte of molten sulfuric acid and solid sodium. The product has the ability to deliver high power in a lightweight package, which makes it ideal for use in portable devices such as hand-held tools, toys, and medical equipment. It also finds application in electric vehicles and grid storage systems.
Application Insights:
The energy storage system application segment accounted for the largest revenue share of over 50% in 2017. The growing demand for sodium-based batteries in renewable energy storage systems is expected to drive the market growth over the forecast period. The renewable sources, such as wind and solar rays, cannot provide constant power supply, which results in a deficiency of electricity generation from these sources. This leads to an increased requirement for long-term and large-scale investments aimed at developing sustainable solutions to address this challenge.
Sodium sulfur batteries are used across multiple verticals including transportation, healthcare and portable electronics owing to their ability to deliver high power density with low weight & volume ratio that makes them ideal replacements for lead acid battery types across various applications such as electric vehicles (EV), forklifts etc.
Regional Analysis:
Asia Pacific dominated the global sodium salt battery market in 2017 and is expected to continue its dominance over the forecast period. The presence of key manufacturers such as Panasonic Corporation, Samsung Electro-Mechanics Co., Ltd., LG Chem, and Fujitsu General Batteries has propelled the regional growth. Moreover, rising demand for portable devices such as smartphones and laptops coupled with increasing investments in renewable energy sources are anticipated to drive industry expansion over the coming years.
The growing industrialization along with rapid urbanization has led to an increase in power requirements which is expected to boost product demand across developing nations of Asia Pacific region including China, India, South Korea among others. In addition, favorable government policies promoting investments through tax benefits are anticipated to further propel industry growth over next eight years or so.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% during the forecast period. This would result in an increase in the demand for sodium salt batteries, as they are used to power these vehicles.
- Development of advanced battery technologies: Sodium salt batteries are being developed with advanced technologies that offer better performance and longer life cycles as compared to traditional lead acid batteries. This would further boost the growth of this market during the forecast period.
- Growing popularity of renewable energy sources: Renewable energy sources such as solar and wind power are gaining popularity across the globe due to their environmental benefits and cost-effectiveness. This is expected to drive the demand for sodium salt batteries, as they are used extensively in renewable energy applications such as grid storage and off-grid systems.
- Volkswagen announced plans invest €300 million (~US0 million) over a five-year period towards research & development activities on solid state lithium ion cells – a type of battery that uses sodium salts instead of lithium ions).
Scope Of The Report
Report Attributes
Report Details
Report Title
Sodium Salt Battery Market Research Report
By Type
Sodium-Nickel-Chloride Battery, NaS Battery
By Application
Energy Storage System, Transportation, Others
By Companies
Zhejiang AMPower Co.，Ltd., CHILWEE GROUP CO.,LTD, Chilwee Group, NGK INSULATORS, LTD.
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
126
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Sodium Salt Battery Market Report Segments:
The global Sodium Salt Battery market is segmented on the basis of:
Types
Sodium-Nickel-Chloride Battery, NaS Battery
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
Energy Storage System, Transportation, 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:
- Zhejiang AMPower Co.，Ltd.
- CHILWEE GROUP CO.,LTD
- Chilwee Group
- NGK INSULATORS, LTD.
Highlights of The Sodium Salt Battery 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:
- Sodium-Nickel-Chloride Battery
- NaS Battery
- By Application:
- Energy Storage System
- Transportation
- 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 Salt Battery 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 salt battery is a type of battery that uses a chemical reaction between sodium and an acid to produce electricity.
Some of the major companies in the sodium salt battery market are Zhejiang AMPower Co.¯Â¼Å’Ltd., CHILWEE GROUP CO.,LTD, Chilwee Group, NGK INSULATORS, LTD..
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sodium Salt Battery 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 Salt Battery Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sodium Salt Battery 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 Salt Battery 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 Salt Battery Market Size & Forecast, 2018-2028
4.5.1 Sodium Salt Battery Market Size and Y-o-Y Growth
4.5.2 Sodium Salt Battery Market Absolute $ Opportunity
Chapter 5 Global Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
5.2.1 Sodium-Nickel-Chloride Battery
5.2.2 NaS Battery
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Sodium Salt Battery 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 Salt Battery Market Size Forecast by Applications
6.2.1 Energy Storage System
6.2.2 Transportation
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sodium Salt Battery 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 Salt Battery 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 Salt Battery Analysis and Forecast
9.1 Introduction
9.2 North America Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
9.6.1 Sodium-Nickel-Chloride Battery
9.6.2 NaS Battery
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 Salt Battery Market Size Forecast by Applications
9.10.1 Energy Storage System
9.10.2 Transportation
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 Salt Battery Analysis and Forecast
10.1 Introduction
10.2 Europe Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
10.6.1 Sodium-Nickel-Chloride Battery
10.6.2 NaS Battery
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 Salt Battery Market Size Forecast by Applications
10.10.1 Energy Storage System
10.10.2 Transportation
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 Salt Battery Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
11.6.1 Sodium-Nickel-Chloride Battery
11.6.2 NaS Battery
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 Salt Battery Market Size Forecast by Applications
11.10.1 Energy Storage System
11.10.2 Transportation
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 Salt Battery Analysis and Forecast
12.1 Introduction
12.2 Latin America Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
12.6.1 Sodium-Nickel-Chloride Battery
12.6.2 NaS Battery
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 Salt Battery Market Size Forecast by Applications
12.10.1 Energy Storage System
12.10.2 Transportation
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 Salt Battery Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Sodium Salt Battery 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 Salt Battery Market Size Forecast by Type
13.6.1 Sodium-Nickel-Chloride Battery
13.6.2 NaS Battery
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 Salt Battery Market Size Forecast by Applications
13.10.1 Energy Storage System
13.10.2 Transportation
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 Salt Battery Market: Competitive Dashboard
14.2 Global Sodium Salt Battery Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zhejiang AMPower Co.，Ltd.
14.3.2 CHILWEE GROUP CO.,LTD
14.3.3 Chilwee Group
14.3.4 NGK INSULATORS, LTD.
