Sodium-Ion Battery Market

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) - Global Forecast to 2028

Report Code: CH 8993 Apr, 2024, by marketsandmarkets.com

Updated on : April 23, 2024

Sodium-Ion Battery Market

The global sodium-ion battery market was valued at USD 0.5 billion in 2023, and is projected to reach USD 1.2 billion by 2028, growing at 21.5% cagr from 2023 to 2028. Sodium ion batteries are relatively more cost effective when compared to other batteries like lithium-ion batteries and this therefore drives the growth in sodium ion battery market. Sodium ion batteries find applications in multiple industries such as automotive, consumer electronics, industrial, and energy storage.

Attractive Opportunities in the Sodium Ion Battery Market

Sodium Ion Battery Market

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Sodium Ion Battery Market

Sodium-Ion Battery Market Dynamics

Driver: Cost effective when compared to lithium-ion batteries

Sodium-ion batteries are a relatively cost-effective solution when compared to lithium-ion batteries. They offer significant advantages across various aspects of energy storage. Sodium-ion batteries are relatively cheaper, due to the abundance and lower cost of sodium resources. This consequently reduces the overall price of sodium-ion batteries and contributes to their affordability.

This cost-effectiveness of sodium-ion batteries thus leads to reduced production costs, which further escalates their attractiveness for energy storage applications. This aspect therefore acts as an advantage for large-scale projects such as grid storage, where cost considerations play a critical role in decision-making. Additionally, the lower price of sodium-ion batteries has a ripple effect on the electronics industry, reducing the overall cost of electronic gadgets compared to those powered by lithium-ion batteries. This cost reduction makes sodium-ion batteries not only economically appealing but also fosters their wider adoption across various consumer electronics and industrial applications, driving the shift towards more sustainable energy solutions.

Restraints: Lower energy density as compared to the lithium-ion battery

Energy density refers to the amount of energy stored per unit of weight or volume within a battery. The lower energy density of sodium-ion batteries in comparison to that of the lithium-ion batteries poses a significant challenge that impacts their suitability for various applications such as their usage in electric vehicles (EVs). As the sodium-ion batteries store less energy in comparison to lithium-ion batteries, they may fall short in meeting the demanding requirements of applications where high energy density is essential, such as EVs. When we take electric vehicles into consideration, it is imperative to, or it is desired to achieve longer driving ranges that can only be achieved by maximizing the amount of energy stored within the battery pack while keeping its weight and volume as minimal as possible. Sodium-ion batteries' lower energy density may constrain the range achievable by EVs, thereby limiting their appeal in the automotive sector. This disparity underscores the need for continued research and development efforts aimed at enhancing the energy density of sodium-ion batteries to bridge the gap with lithium-ion technology.

Opportunity: Abundant availability of sodium unlike lithium forms a strong supply chain

The abundance of sodium resources lays down a clear advantage for sodium-ion battery technology. Unlike lithium, whose concentration is limited to specific regions and is subject to geopolitical tensions, sodium is widely distributed across the globe, with ample reserves available in various countries. This widespread availability of sodium resources mitigates supply chain risks and dependencies associated with lithium-ion batteries, offering greater resilience and stability to battery manufacturing. Sodium ion batteries can withstand fluctuations in resource availability by reducing reliance on specific regions or suppliers for raw materials, thus ensuring a more robust and secure supply chain. Moreover, the sodium resource abundance contributes to cost stability and predictability, making sodium-ion batteries an attractive option for large-scale production and deployment. Overall, the abundant availability of sodium resources underscores the potential of sodium-ion battery technology to offer a sustainable and reliable energy storage solution for various applications, from consumer electronics to grid-scale energy storage systems.

Challenge: Availability of high-performance materials for sodium ion batteries

The availability of high-performance materials particularly related to sodium-ion batteries remains a critical challenge in advancing the technology to its full potential. While materials such as Prussian white and hard carbon are promising options that can be used as cathode and anode materials, respectively, further research and development efforts are necessary to optimize their electrochemical properties, stability, and scalability for commercial production. It is imperative to ensure the long-term stability and durability of materials under various operating conditions, including extended charge-discharge cycles and high current densities, for the commercial viability of sodium-ion battery systems. Furthermore, scalability is essential to enable large-scale production of high-performance materials at an affordable cost, facilitating their integration into mass-market applications such as grid-scale energy storage and electric vehicles.

 Addressing the challenges associated with material availability requires interdisciplinary collaboration among researchers, engineers, and industry stakeholders to explore new synthesis methods, understand fundamental electrochemical processes, and develop innovative approaches to enhance the performance and scalability of materials for sodium-ion batteries. Through concerted efforts in research and development, high-performance materials tailored for sodium-ion batteries can be developed, paving the way for the widespread adoption of sodium-ion battery technology.

Sodium Ion Battery Market Ecosystem

Prominent companies in this market include well-established, and financially stable manufacturers of sodium ion battery market. These companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks. Prominent companies in this market include 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).

Sodium Ion Battery Market Ecosystem

"Automotive, by end use industry, is estimated to grow at the fastest rate during the forecast period."

The automotive industry is expected to grow at the fastest rate among end-use industries for the sodium ion battery market. The market for sodium-ion batteries is expanding at the fastest pace in the automotive sector because of the marked trend towards electric transportation. The automobile industry's growing emphasis on sustainability and clean energy technology has fueled this shift. Due to their affordability, safety features, and advantages for the environment, sodium-ion batteries have become the go-to option in this industry. Government programs supporting sustainable energy and the necessity of grid modernization have contributed to the spike in demand for sodium-ion batteries in electric vehicles. Consequently, the automotive sector has become the fastest-growing sector within the sodium-ion battery business due to its acceptance of these batteries, which has fueled their rapid expansion and domination in the market.

"Non-Aqueous, by battery type, is estimated to grow at the fastest rate during the forecast period."

The non-aqueous sodium-ion batteries are growing at the fastest rate in the industry, and it can be attributed to their versatility and wide-ranging applications across various industries. This is because, in contrast to aqueous alternatives, non-aqueous electrolytes permit larger working voltages.  Better voltages thus result in better energy densities, which are essential for long-range applications like grid storage and electric vehicles. Aqueous batteries have benefits including cost-effectiveness and safety, but because of their lower energy density, they are better suited for stationary applications with lesser power needs.

"Europe is estimated to account for the highest CAGR during the forecast period."

The Europe region demonstrates the fastest growing rate in the sodium ion battery market. The increasing use of electric vehicles and renewable energy initiatives is propelling this region's growth, especially in nations like Germany, UK, and France. To cut emissions and advance sustainable energy solutions, the need for sodium-ion batteries is growing in the transportation and power generation industries. Given the region's abundance of sodium and the growing focus on sustainability and environmental issues, sodium-ion batteries are seen as a promising technology with the potential to revolutionize the energy storage market.

Sodium Ion Battery Market by Region

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Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis

Sodium-Ion Battery Market Players

Major companies in the Sodium ion battery Market include 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) and others. A total of 18 players have been covered. These players have adopted product launches, agreements, joint ventures, investments, acquisitions, mergers, and expansions as the major strategies to consolidate their position in the market.

Read More: Sodium-ion Battery Companies

Sodium-Ion Battery Market Report Scope

Report Metric

Details

Market Size Available for Years

2019–2028

Base Year Considered

2022

Forecast Period

2023–2028

Forecast Units

Value (USD Million/Billion) and Volume (Kilotons)

Segments Covered

Sodium Ion Battery Type, Technology Type, End-use, and Region

Geographies Covered

Asia Pacific, Europe, North America, the Middle East & Africa, and South America

Companies Covered

The major market players include 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), NGK Insulators Ltd (Japan), Li-FUN Technology Corporation Limited (China), Zhejiang Natrium Energy Co., Ltd. (China), Natron Energy, Inc. (US), Jiangsu Transimage Sodium-lon Battery Technology Co., Ltd. (China) and others.

This research report categorizes the Sodium Ion Battery Market based on Sodium Ion Battery Type, Technology Type, End-use, and Region.

Based on Battery Type, the Sodium Ion Battery Market has been segmented as follows:
  • Sodium-Sulfur Batteries
  • Sodium-Salt Batteries
  • Sodium-Air Batteries
  • Others
Based on Technology Type, the Sodium Ion Battery Market has been segmented as follows:
  • Aqueous
  • Non-Aqueous
  • Others
Based on End Use, the Sodium Ion Battery Market has been segmented as follows:
  • Automotive
  • Industrial
  • Energy Storage
  • Others
Based on Region, the Sodium Ion Battery Market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America

Recent Development

  • In January 2024, JAC Group has made a groundbreaking move in the electric vehicle (EV) industry by introducing China's first mass-produced electric vehicle powered by sodium-ion batteries. This milestone delivery, part of the Yiwei brand, features cutting-edge sodium-ion cylindrical cells supplied by HiNa Battery Technology.
  • In February 2024, Sodion Energy has introduced India's first Sodium Ion batteries, marking a significant advancement in energy storage technology. These Sodium Ion batteries are poised to revolutionize various sectors, including electric vehicles and home appliances, offering a versatile and sustainable energy storage solution.
  • In March 2024, Contemporary Amperex Technology Co., Ltd. is planning to establish a research and development center in Hong Kong at the Hong Kong Science Park, with an expected recruitment of about 500 staff. The company's decision to set up a research base in Hong Kong is seen as strategic, leveraging the city's international hub status and talent pool while diversifying its markets globally.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 16)
    1.1 STUDY OBJECTIVES 
    1.2 COMPETITIVE INTELLIGENCE 
    1.3 MARKET DEFINITION 
    1.4 STUDY SCOPE 
           1.4.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 1 SODIUM-ION BATTERY MARKET: INCLUSIONS AND EXCLUSIONS
           1.4.2 MARKET SEGMENTATION
                    FIGURE 1 SODIUM-ION BATTERY MARKET: MARKET SEGMENTATION
           1.4.3 REGIONS COVERED
           1.4.4 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 UNITS CONSIDERED 
    1.7 RESEARCH LIMITATIONS 
    1.8 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 21)
    2.1 RESEARCH DATA 
          FIGURE 2 SODIUM-ION BATTERY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
    2.2 MATRIX FOR DEMAND-SIDE ANALYSIS 
          FIGURE 3 MATRIX ASSESSING DEMAND FOR SODIUM-ION BATTERIES
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                    FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF  SODIUM-ION BATTERY MARKET (1/2)
                    FIGURE 7 METHODOLOGY FOR SUPPLY-SIDE SIZING OF SODIUM-ION BATTERY MARKET (2/2)
                    2.3.2.1 Calculations for supply-side analysis
    2.4 GROWTH FORECAST 
    2.5 DATA TRIANGULATION 
          FIGURE 8 SODIUM-ION BATTERY MARKET: DATA TRIANGULATION
    2.6 IMPACT OF RECESSION 
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
    2.9 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 31)
    TABLE 2 SODIUM-ION BATTERY MARKET SNAPSHOT: 2023 VS. 2028
    FIGURE 9 ENERGY STORAGE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    FIGURE 10 NONAQUEOUS TECHNOLOGY TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
    FIGURE 11 ASIA PACIFIC DOMINATED SODIUM-ION BATTERY MARKET IN 2023
 
4 PREMIUM INSIGHTS (Page No. - 34)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN  SODIUM-ION BATTERY MARKET 
          FIGURE 12 SODIUM-ION BATTERY MARKET TO WITNESS SIGNIFICANT GROWTH BETWEEN 2023 AND 2028
    4.2 SODIUM-ION BATTERY MARKET, BY REGION 
          FIGURE 13 ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 35)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 14 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN  SODIUM-ION BATTERY MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Need for cost-effective alternative to lithium-ion batteries
                    5.2.1.2 Increasing demand for sustainable energy storage solutions
           5.2.2 RESTRAINTS
                    5.2.2.1 Lower energy density compared to lithium-ion batteries
                    5.2.2.2 Limited cycle life of sodium-ion batteries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Abundance of sodium resources
                    5.2.3.2 Innovation and technological advances in sodium-ion batteries
           5.2.4 CHALLENGES
                    5.2.4.1 Limited availability of high-performance materials for sodium-ion batteries
                    5.2.4.2 Wide application of lithium-ion batteries in various industries
    5.3 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 15 PORTER'S FIVE FORCES ANALYSIS: SODIUM-ION BATTERY MARKET
          TABLE 3 SODIUM-ION BATTERY MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 BARGAINING POWER OF BUYERS
           5.3.3 THREAT OF NEW ENTRANTS
           5.3.4 THREAT OF SUBSTITUTES
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 SUPPLY CHAIN ANALYSIS 
          FIGURE 16 SODIUM-ION BATTERY MARKET: SUPPLY CHAIN ANALYSIS
    5.5 ECOSYSTEM 
          FIGURE 17 SODIUM-ION BATTERY MARKET: ECOSYSTEM
          TABLE 4 SODIUM-ION BATTERY MARKET: ROLE IN ECOSYSTEM
    5.6 REGULATORY LANDSCAPE 
           5.6.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 5 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 6 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 KEY TECHNOLOGY
                    5.7.1.1 Alternative anode material
           5.7.2 ADJACENT TECHNOLOGY
                    5.7.2.1 Nanostructured electrodes
    5.8 KEY CONFERENCES AND EVENTS IN 2024–2025 
          TABLE 8 SODIUM-ION BATTERY MARKET: KEY CONFERENCES AND EVENTS (2024–2025)
    5.9 TRADE ANALYSIS 
           5.9.1 IMPORT SCENARIO
                    TABLE 9 IMPORT DATA OF SODIUM (USD THOUSAND)
           5.9.2 EXPORT DATA
                    TABLE 10 EXPORT DATA OF SODIUM (USD THOUSAND)
    5.10 PRICING ANALYSIS 
           5.10.1 AVERAGE SELLING PRICE TREND, BY REGION
                     FIGURE 18 AVERAGE SELLING PRICE TREND, BY REGION
           5.10.2 AVERAGE SELLING PRICE, BY TECHNOLOGY
                     FIGURE 19 AVERAGE SELLING PRICE OF SODIUM-ION BATTERY, BY TECHNOLOGY
    5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     FIGURE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USE INDUSTRIES
                     TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR  TOP 3 END-USE INDUSTRIES (%)
           5.11.2 BUYING CRITERIA
                     FIGURE 21 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
                     TABLE 12 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
    5.12 PATENT ANALYSIS 
           5.12.1 METHODOLOGY
                     FIGURE 22 COMPANIES WITH HIGHEST PATENT APPLICATIONS FOR SODIUM-ION BATTERIES
           5.12.2 KEY PATENTS
    5.13 INVESTMENT & FUNDING SCENARIO 
           FIGURE 23 INVESTMENT & FUNDING OF STARTUPS/SMES FOR SODIUM-ION BATTERY MARKET
 
6 SODIUM-ION BATTERY, BY BATTERY TYPE (Page No. - 53)
    6.1 INTRODUCTION 
    6.2 SODIUM SULFUR BATTERIES 
    6.3 SODIUM SALT BATTERIES 
    6.4 SODIUM AIR BATTERIES 
    6.5 OTHER BATTERY TYPES 
 
7 SODIUM-ION BATTERY MARKET, BY TECHNOLOGY (Page No. - 54)
    7.1 INTRODUCTION 
          FIGURE 24 NONAQUEOUS SEGMENT TO LEAD SODIUM-ION BATTERY MARKET DURING FORECAST PERIOD
          TABLE 13 SODIUM-ION BATTERY MARKET, BY TECHNOLOGY TYPE, 2023–2028 (USD MILLION)
    7.2 AQUEOUS 
           7.2.1 WIDE APPLICATIONS IN STATIONARY ENERGY STORAGE SYSTEMS TO DRIVE MARKET
    7.3 NONAQUEOUS 
           7.3.1 INCREASING DEMAND IN GRID-LEVEL STORAGE TO BOOST MARKET
 
8 SODIUM-ION BATTERY MARKET, BY END-USE INDUSTRY (Page No. - 57)
    8.1 INTRODUCTION 
          FIGURE 25 ENERGY STORAGE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
          TABLE 14 SODIUM-ION BATTERY MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
    8.2 ENERGY STORAGE 
           8.2.1 INCREASING DEMAND IN GRID-LEVEL STORAGE SYSTEMS TO DRIVE MARKET
                    TABLE 15 ENERGY STORAGE: SODIUM-ION BATTERY MARKET, BY REGION,  2023–2028 (USD MILLION)
    8.3 AUTOMOTIVE 
           8.3.1 WIDE ADOPTION OF SODIUM-ION BATTERIES IN HYBRID ELECTRIC VEHICLES TO FUEL DEMAND
                    TABLE 16 AUTOMOTIVE: SODIUM-ION BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.4 INDUSTRIAL 
           8.4.1 RISING NEED IN INDUSTRIAL SETTINGS AND TELECOMMUNICATION TOWERS TO DRIVE DEMAND
                    TABLE 17 INDUSTRIAL: SODIUM-ION BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.5 OTHER END-USE INDUSTRIES 
          TABLE 18 OTHER END-USE INDUSTRIES: SODIUM-ION BATTERY MARKET, BY REGION,  2023–2028 (USD MILLION)
 
9 SODIUM-ION BATTERY MARKET, BY REGION (Page No. - 61)
    9.1 INTRODUCTION 
          FIGURE 26 ASIA PACIFIC TO BE LARGEST MARKET DURING FORECAST PERIOD
          TABLE 19 SODIUM-ION BATTERY MARKET, BY REGION, 2023–2028 (KILOTON)
          TABLE 20 SODIUM-ION BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.2 ASIA PACIFIC 
           9.2.1 RECESSION IMPACT
                    FIGURE 27 ASIA PACIFIC: SODIUM-ION BATTERY MARKET SNAPSHOT
                    TABLE 21 ASIA PACIFIC: SODIUM ION BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 22 ASIA PACIFIC: MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.2.2 CHINA
                    9.2.2.1 Rising demand for electric vehicles to drive market
                                TABLE 23 CHINA: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.2.3 SOUTH KOREA
                    9.2.3.1 Pressing need for energy storage to drive market
                                TABLE 24 SOUTH KOREA: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.2.4 JAPAN
                    9.2.4.1 Increasing demand in industrial and EV sectors to drive market
                                TABLE 25 JAPAN: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.2.5 AUSTRALIA
                    9.2.5.1 Rising demand for renewable energy sources to drive market
                                TABLE 26 AUSTRALIA: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.2.6 REST OF ASIA PACIFIC
TABLE 27 REST OF ASIA PACIFIC: SODIUM-ION BATTERY MARKET, BY END USE,  2023–2028 (USD MILLION)
    9.3 NORTH AMERICA 
           9.3.1 RECESSION IMPACT
FIGURE 28 NORTH AMERICA: SODIUM-ION BATTERY MARKET SNAPSHOT
TABLE 28 NORTH AMERICA: SODIUM ION BATTERY MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
TABLE 29 NORTH AMERICA: MARKET, BY END USE,  2023–2028 (USD MILLION)
           9.3.2 US
                    9.3.2.1 Rise in electric vehicles sector to drive market
                                TABLE 30 US: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
    9.4 EUROPE 
           9.4.1 RECESSION IMPACT
                    FIGURE 29 EUROPE: SODIUM-ION BATTERY MARKET SNAPSHOT
                    TABLE 31 EUROPE: SODIUM ION BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 32 EUROPE: MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.4.2 GERMANY
                    9.4.2.1 Supportive regulatory framework to drive market
                                TABLE 33 GERMANY: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.4.3 FRANCE
                    9.4.3.1 Growth of automotive sector to drive market
                                TABLE 34 FRANCE: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.4.4 UK
                    9.4.4.1 Surge in electric vehicles and energy storage industry to drive market
                                TABLE 35 UK: SODIUM-ION BATTERY MARKET, BY END USE, 2023–2028 (USD MILLION)
           9.4.5 REST OF EUROPE
                    TABLE 36 REST OF EUROPE: SODIUM-ION BATTERY MARKET, BY END USE,  2023–2028 (USD MILLION)
    9.5 REST OF WORLD 
          TABLE 37 REST OF WORLD: SODIUM-ION BATTERY MARKET, BY END USE,  2023–2028 (USD MILLION)
 
10 COMPETITIVE LANDSCAPE (Page No. - 75)
     10.1 INTRODUCTION 
     10.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 38 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS
     10.3 REVENUE ANALYSIS 
             FIGURE 30 REVENUE ANALYSIS OF KEY COMPANIES IN LAST FIVE YEARS
     10.4 MARKET SHARE ANALYSIS 
             10.4.1 RANKING OF KEY MARKET PLAYERS, 2022
                        FIGURE 31 RANKING OF TOP FIVE PLAYERS IN SODIUM-ION BATTERY MARKET, 2022
             10.4.2 MARKET SHARE OF KEY PLAYERS
                        FIGURE 32 SODIUM-ION BATTERY MARKET SHARE ANALYSIS
                        TABLE 39 DEGREE OF COMPETITION: SODIUM-ION BATTERY MARKET
                        10.4.2.1 Faradion (UK)
                        10.4.2.2 Contemporary Amperex Technology Co., Ltd (China)
                        10.4.2.3 Tiamat Energy (France)
                        10.4.2.4 HiNa Battery Technology Co., Ltd. (China)
                        10.4.2.5 Jiangsu Zoolnasm Energy Technology Co., Ltd. (China)
     10.5 BRAND/PRODUCT COMPARISON 
             FIGURE 33 BRAND/PRODUCT COMPARISON
             10.5.1 SODIUM-ION BATTERIES BY FARADION
             10.5.2 SODIUM-ION BATTERIES BY CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.
             10.5.3 SODIUM ION BATTERIES BY TIAMAT ENERGY
             10.5.4 SODIUM ION BATTERIES BY HINA BATTERY TECHNOLOGY CO., LTD.
             10.5.5 SODIUM ION BATTERIES BY JIANGSU ZOOLNASM ENERGY TECHNOLOGY CO., LTD
     10.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             10.6.1 STARS
             10.6.2 EMERGING LEADERS
             10.6.3 PERVASIVE PLAYERS
             10.6.4 PARTICIPANTS
                        FIGURE 34 SODIUM-ION BATTERY MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2022
             10.6.5 COMPANY FOOTPRINT
                        FIGURE 35 SODIUM-ION BATTERY MARKET: COMPANY FOOTPRINT (11 COMPANIES)
                        TABLE 40 SODIUM ION BATTERY MARKET: REGION FOOTPRINT (11 COMPANIES)
                        TABLE 41 SODIUM-ION BATTERY MARKET: TYPE FOOTPRINT (11 COMPANIES)
                        TABLE 42 SODIUM ION BATTERY MARKET: END-USE INDUSTRY FOOTPRINT (11 COMPANIES)
     10.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2022 
             10.7.1 PROGRESSIVE COMPANIES
             10.7.2 RESPONSIVE COMPANIES
             10.7.3 DYNAMIC COMPANIES
             10.7.4 STARTING BLOCKS
                        FIGURE 36 SODIUM-ION BATTERY MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2022
             10.7.5 COMPETITIVE BENCHMARKING
                        TABLE 43 SODIUM-ION BATTERY MARKET: KEY STARTUPS/SMES
                        TABLE 44 SODIUM-ION BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     10.8 VALUATION AND FINANCIAL METRICS 
             FIGURE 37 COMPANY VALUATION OF KEY PLAYERS
             FIGURE 38 EV/EBITDA OF KEY PLAYERS
             FIGURE 39 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS
     10.9 COMPETITIVE SCENARIO AND TRENDS 
             10.9.1 PRODUCT LAUNCHES
                        TABLE 45 SODIUM-ION BATTERY MARKET: PRODUCT LAUNCHES, JUNE 2019–MARCH 2024
             10.9.2 DEALS
                        TABLE 46 SODIUM-ION BATTERY MARKET: DEALS, JUNE 2019–MARCH 2024
             10.9.3 EXPANSIONS
                        TABLE 47 SODIUM-ION BATTERY MARKET: EXPANSIONS, JUNE 2019–MARCH 2024
 
11 COMPANY PROFILES (Page No. - 94)
     11.1 KEY PLAYERS 
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
             11.1.1 FARADION
                        TABLE 48 FARADION: COMPANY OVERVIEW
                        TABLE 49 FARADION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 50 FARADION: DEALS
                        TABLE 51 FARADION: EXPANSIONS
             11.1.2 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.
                        TABLE 52 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
                        FIGURE 40 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.:  COMPANY SNAPSHOT
                        TABLE 53 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 54 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.: PRODUCT LAUNCHES
                        TABLE 55 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.: DEALS
                        TABLE 56 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.: EXPANSIONS
             11.1.3 TIAMAT ENERGY
                        TABLE 57 TIAMAT ENERGY: COMPANY OVERVIEW
                        TABLE 58 TIAMAT ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 59 TIAMAT ENERGY: DEALS
             11.1.4 HINA BATTERY TECHNOLOGY CO., LTD.
                        TABLE 60 HINA BATTERY TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
                        TABLE 61 HINA BATTERY TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 62 HINA BATTERY TECHNOLOGY CO., LTD.: DEALS
             11.1.5 JIANGSU ZOOLNASM ENERGY TECHNOLOGY CO., LTD.
                        TABLE 63 JIANGSU ZOOLNASM ENERGY TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
                        TABLE 64 JIANGSU ZOOLNASM ENERGY TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 65 JIANGSU ZOOLNASM ENERGY TECHNOLOGY CO., LTD.: EXPANSIONS
             11.1.6 ALTRIS AB
                        TABLE 66 ALTRIS AB: COMPANY OVERVIEW
                        TABLE 67 ALTRIS AB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 68 ALTRIS AB: DEALS
             11.1.7 NATRON ENERGY, INC.
                        TABLE 69 NATRON ENERGY, INC.: COMPANY OVERVIEW
                        TABLE 70 NATRON ENERGY INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 71 NATRON ENERGY INC.: PRODUCT LAUNCHES
                        TABLE 72 NATRON ENERGY INC.: DEALS
                        TABLE 73 NATRON ENERGY INC.: EXPANSIONS
             11.1.8 NGK INSULATORS, LTD.
                        TABLE 74 NGK INSULATORS, LTD.: COMPANY OVERVIEW
                        FIGURE 41 NGK INSULATORS, LTD.: COMPANY SNAPSHOT
                        TABLE 75 NGK INSULATORS, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 76 NGK INSULATORS, LTD.: EXPANSIONS
             11.1.9 LI-FUN TECHNOLOGY CORPORATION LIMITED
                        TABLE 77 LI-FUN TECHNOLOGY CORPORATION LIMITED: COMPANY OVERVIEW
                        TABLE 78 LI-FUN TECHNOLOGY CORPORATION LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 79 LI-FUN TECHNOLOGY CORPORATION LIMITED: DEALS
             11.1.10 JIANGSU TRANSIMAGE TECHNOLOGY CO., LTD.
                        TABLE 80 JIANGSU TRANSIMAGE SODIUM-LON BATTERY TECHNOLOGY CO., LTD.:  COMPANY OVERVIEW
                        TABLE 81 JIANGSU TRANSIMAGE SODIUM-LON BATTERY TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 82 JIANGSU TRANSIMAGE SODIUM-LON BATTERY TECHNOLOGY CO., LTD.: DEALS
             11.1.11 ZHEJIANG NATRIUM ENERGY CO., LTD.
                        TABLE 83 ZHEJIANG NATRIUM ENERGY CO., LTD.: COMPANY OVERVIEW
                        TABLE 84 ZHEJIANG NATRIUM ENERGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 85 ZHEJIANG NATRIUM ENERGY CO., LTD.: DEALS
                        TABLE 86 ZHEJIANG NATRIUM ENERGY CO., LTD.: EXPANSIONS, JUNE 2019–MARCH 2024
     11.2 OTHER PLAYERS 
             11.2.1 SODION ENERGY PVT. LTD.
                        TABLE 87 SODION ENERGY PVT. LTD.: COMPANY OVERVIEW
                        TABLE 88 SODION ENERGY PVT. LTD.: PRODUCT LAUNCHES
                        TABLE 89 SODION ENERGY PVT. LTD.: DEALS
             11.2.2 INDI ENERGY
                        TABLE 90 INDI ENERGY: COMPANY OVERVIEW
             11.2.3 NORTHVOLT AB
                        TABLE 91 NORTHVOLT AB: COMPANY OVERVIEW
                        TABLE 92 NORTHVOLT AB: PRODUCT LAUNCHES
             11.2.4 ZONERGY CORPORATION
                        TABLE 93 ZONERGY CORPORATION.: COMPANY OVERVIEW
             11.2.5 BYD MOTORS INC.
                        TABLE 94 BYD MOTORS INC.: COMPANY OVERVIEW
                        TABLE 95 BYD COMPANY LTD.: DEALS
             11.2.6 FARASIS ENERGY EUROPE GMBH
                        TABLE 96 FARASIS ENERGY EUROPE GMBH: COMPANY OVERVIEW
                        TABLE 97 FARASIS ENERGY EUROPE GMBH: PRODUCT LAUNCHES
             11.2.7 FARASIS ENERGY(GANZHOU)CO., LTD.
                        TABLE 98 FARASIS ENERGY (GANZHOU) CO., LTD.: COMPANY OVERVIEW
 
*Details on Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
 
12 ADJACENT AND RELATED MARKET (Page No. - 134)
     12.1 INTRODUCTION 
     12.2 LIMITATIONS 
     12.3 SODIUM-ION BATTERY INTERCONNECTED MARKET 
     12.4 LITHIUM-ION BATTERY MARKET 
             12.4.1 MARKET DEFINITION
             12.4.2 MARKET OVERVIEW
             12.4.3 LITHIUM-ION BATTERY, BY VOLTAGE
                        TABLE 99 LITHIUM-ION BATTERY, BY VOLTAGE, 2019–2022 (USD MILLION)
                        TABLE 100 LITHIUM-ION BATTERY, BY VOLTAGE, 2023–2032 (USD MILLION)
                        12.4.3.1 Low Voltage (Below 12 V)
                        12.4.3.2 Medium Voltage (Between 12–36 V)
                        12.4.3.3 High Voltage (Above 36 V)
 
13 APPENDIX (Page No. - 137)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current size of the Sodium Ion Battery Market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the Sodium Ion Battery value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources for this research study include annual reports, press releases, and investor presentations of companies; white papers; certified publications; and articles by recognized authors; gold- and silver-standard websites; Sodium Ion Battery manufacturing companies, regulatory bodies, trade directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.

Primary Research

The Sodium Ion Battery Market comprises several stakeholders, such as raw material suppliers, technology support providers, Sodium Ion Battery manufacturers, and regulatory organizations in the supply chain. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the supply side included industry experts such as Chief Executive Officers (CEOs), vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the Sodium Ion Battery Market. Primary sources from the demand side included directors, marketing heads, and purchase managers from various sourcing industries. Following is the breakdown of the primary respondents:

Sodium Ion Battery Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the Sodium Ion Battery Market. These approaches have also been used extensively to estimate the size of various dependent subsegments of the market. The research methodology used to estimate the market size included the following:

The following segments provide details about the overall market size estimation process employed in this study:

  • The key players in the market were identified through secondary research.
  • The market shares in the respective regions were identified through primary and secondary research.
  • The value chain and market size of the Sodium Ion Battery Market, in terms of value and volume, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research included the study of annual and financial reports of the top market players and interviews with industry experts, such as CEOs, VPs, directors, sales managers, and marketing executives, for key insights, both quantitative and qualitative.

Global Sodium Ion Battery Market Size: Bottom-Up Approach

Sodium Ion Battery Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Sodium Ion Battery Market Size: Top-Down Approach

Sodium Ion Battery Market Size, and Share

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the oil & gas sector.

Market Definition

A sodium-ion battery is a type of rechargeable battery that uses sodium ions as the charge carriers during the electrochemical reactions that occur within the battery cell. Sodium-ion batteries store and release electrical energy through the movement of ions between the negative and positive electrodes during charging and discharging cycles. In a sodium-ion battery, the cathode typically contains a sodium-based compound such as sodium cobalt oxide (NaCoO2) or sodium iron phosphate (NaFePO4), while the anode is often composed of materials capable of intercalating sodium ions, such as hard carbon (graphite-like carbon) or various metal alloys.

During charging, sodium ions are extracted from the cathode and migrate through the electrolyte to the anode electrode, where they are stored within the structure of the anode material. Conversely, during discharge, the stored sodium ions move back to the cathode electrode through the electrolyte, releasing electrical energy that can be used to power electronic devices or systems.

Key Stakeholders

  • Raw material manufacturers
  • Technology support providers
  • Manufacturers of Sodium Ion Battery
  • Traders, distributors, and suppliers
  • Regulatory Bodies and Government Agencies
  • Research & Development (R&D) Institutions
  • End-use Industries
  • Consulting Firms, Trade Associations, and Industry Bodies
  • Investment Banks and Private Equity Firms

Report Objectives

  • To analyze and forecast the market size of Sodium Ion Battery Market in terms of value and volume
  • To provide detailed information regarding the major factors (drivers, restraints, challenges, and opportunities) influencing the regional market
  • To analyze and forecast the global Sodium Ion Battery Market on the basis of Battery type, technology type, end-use, and region
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the size of various market segments based on three major regions: Asia Pacific, Europe, and North America, along with their respective key countries
  • To track and analyze the competitive developments, such as acquisitions, partnerships, collaborations, agreements and expansions in the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.

The following customization options are available for the report:

  • Additional country-level analysis of the Sodium Ion Battery Market
  • Profiling of additional market players (up to 5)

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company.
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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