Sodium-ion Battery Market Analysis

Product (Sodium-Sulfur Batteries, Sodium-Salt Batteries, Sodium-Oxygen Batteries)

Sodium-sulfur batteries segment is expected to dominate over 51.2% sodium-ion battery market share by 2037, owing to their efficient energy density. Sodium-sulfur batteries a type of molten salt battery possess energy density similar to lithium-ion batteries; this is pushing their demand across several industry verticals. Sodium-sulfur batteries are sought-after high-temperature battery solutions for many large-scale energy utility and grid energy storage applications due to metallic sodium utilization and high-temperature operating capability. In solar generation and wind farms, sodium-sulfur batteries are widely used as effective energy storage batteries owing to their decarbonization capabilities.

Energy storage devices have been added to the growing number of renewable energy projects in the power generation industry. Several projects that make use of sodium-sulfur battery systems have been implemented into various countries' national grids. For instance, NGK and Tokyo Electric Power Company Holdings, Inc. have conducted collaborative research and development centered on the concept of employing sodium sulfur batteries to manage fluctuating electricity demand.

Industry Vertical (Consumer Electronic Devices, Automobile & Transportation, Power Backup, Grid-Level Applications, Industrial, Aerospace & Defense, Marine)

The demand for sodium-ion battery market is high in consumer electronic devices due to their flexibility and sound mechanical energy-harnessing efficiency. Wearable electronics also make high use of sodium-ion batteries owing to their self-charging characteristics. Wearable electronics are not only limited to day-to-day use but are gaining traction in the healthcare sector. The integration of conformable skin sensors and roll-up displays is leading the development of wearable electronics into smart healthcare devices. Wearable electronics require long-lasting power and excellent cycling stability, sodium-ion batteries’ cost-effective and high-performance features are driving their use in the electronics segment.

Our in-depth analysis of the global sodium-ion battery market includes the following segments: