Sodium-ion Battery Market Share

Europe Market Forecast

Europe in sodium-ion battery market is expected to hold over 44.5% revenue share by the end of 2037. The market expansion is due to the presence of key market players such as Faradion and BASF, and industry verticals such as automotive and renewable energy. Europe is one of the automotive hubs and is leading to the development of next-generation electric vehicles. Moreover, the EU policies supporting green technologies and mitigating carbon footprint are expected to offer profitable opportunities for sodium-ion battery manufacturers in the region in the coming years.

The UK and Germany follow certain goals for reducing carbon emissions and increasing the use of renewable storage solutions. Strict regulations such as the Climate Action Law and supportive policies such as the Paris Agreement to boost the use of green technologies and mitigate carbon footprints are driving the sales of sodium-ion batteries in several verticals in these countries.

APAC Market Statistics

Asia Pacific sodium-ion battery market for sodium-ion batteries is expected to increase at a fast pace during the forecast period owing to ongoing advancements in electric vehicle manufacturing. The rapidly expanding automotive and consumer electronics sector is pushing the sales of sodium-ion batteries in the region.

India is one of the opportunistic markets for sodium-ion battery producers owing to the rapidly growing automotive sector. The rise in vehicle ownership in India is directly influencing the sales of energy-efficient technologies such as sodium-ion batteries. For instance, in December 2023, KPIT Technologies announced the launch of sodium-ion technology to reduce lithium dependency. These batteries offer a long lifespan and faster charging characteristics.