Sodium-ion Battery Market Size, Trends and Insights By Type (Sodium-Oxide Batteries, Sodium-Sulfur Batteries, Sodium-Salt Batteries), By Application (Grid-Level Applications, Transportation, Consumer Electronics, Industrial, Defense, Aerospace, Marine, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI20112

Published Date: October 2022

Pages: 220+

Category: Energy And Power

Report Snapshot

CAGR: 11.8%
1120 M
2021
1317 M
2022
2899 M
2030

Source: CMI

Study Period: 2022-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Aquion Energy
  • Zhejiang Lvming Energy (Durathon)
  • Faradion Limited
  • Others

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Reports Description

The increased adoption of sodium-ion batteries by telecom companies is boosting the market’s growth.

According to Custom Market Insights (CMI), The Global Sodium-ion Battery Market size was estimated at USD 1120 Million in 2021  and is expected to reach USD 1317 million in 2022 and is expected to hit around USD 2899 Million by 2030, poised to grow at a compound annual growth rate (CAGR) of 11.8% from 2022 to 2030. 

The report examines the Sodium-ion Battery market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Sodium-ion Battery market.

Sodium-ion Battery Market (By Type )

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Sodium-ion Battery Market: Overview

A type of energy storage technology known as sodium-ion batteries employs electrochemical cells with positive and negative electrodes. With an operating temperature range of -30°C to 60°C and higher operational safety than lithium-ion batteries, sodium-ion batteries offer more thermal endurance than other battery chemistries.

Additionally, sodium-ion batteries can be depleted to zero volts to minimize mishaps while in transit, which reduces shipping costs. Technologies for sodium batteries have gained traction in the industry and could one day compete with lithium-ion batteries. However, the commercialization and supply chain for sodium-ion batteries are still in their infancy in most nations. 

Sodium-ion Battery Market: COVID – 19 Impact Analysis

The COVID-19 epidemic-related global lockdown caused factory activity, supply chain, and manufacturing halts, which had a detrimental effect on the sodium-ion batteries industry in 2020. In addition, several end-use industries, including the automotive, industrial, and others, closed their doors, which decreased the need for batteries in 2020.

The major sodium ion battery manufacturers’ sales responses during the pandemic varied. Additionally, COVID-19 had a substantial effect on the global renewable energy market, which led to a decline in renewable technology development in 2020.

Due to the drop-in economic activity, the pandemic posed severe hazards to the solar energy industry. In addition, the market for sodium-ion batteries, which are predominantly used in the solar energy sector as large-scale stationary storage systems, was similarly impacted by this decline.

Sodium-ion Battery Market: Growth Drivers

Rising demand for electric vehicles

The market for sodium-ion batteries is primarily driven by rising demand for electric vehicles. There has been a strong push toward electrifying transportation to reduce carbon emissions from fuel use in recent years. In addition, governments have reacted to the continued threat that climate change poses to our planet’s natural resources by taking steps to reduce our reliance on fossil fuels, such as by promoting the sale of electric vehicles and tightening regulations governing the use of alternative energy sources. Increased use of sodium-ion batteries, a technology that has the potential to offer much bigger capacities than standard lithium-ion cells while being more environmentally friendly, will undoubtedly be a result of the increased focus on renewable energy sources.

Sodium-ion Battery Market

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Surging demand for sodium-ion batteries from telecom companies and data centers

Around 30% of the operating costs of telecom towers go toward fuel. Therefore, businesses are looking for more energy-efficient options. The telecom industry is impacted by higher gasoline costs. Recent developments in battery chemistry are creating new opportunities in data design and operation centers. They are non-flammable, have a low internal resistance, a high cycle rate, and a high peak energy potential, and were not made with thermal chambers. Because of these qualities, telecom and data centers prefer sodium-ion batteries. The Sodium-ion Battery Market is being driven by this factor.

Sodium-ion Battery Market: Segmentation Analysis

In our research scope, the Sodium-ion Battery market is segmented into type and end-user. Based on type, the sodium-Sulfur batteries segment is anticipated to dominate the sodium-ion battery market in 2021. A lithium sulfide cathode and a sodium anode are found in sodium-sulfur (NAS) batteries, a subclass of sodium-ion batteries. A molten-salt battery with outstanding discharge and charge efficiency, high energy density, and a long lifespan is called a sodium-sulfur battery. These factors propel the sodium-sulfur battery market’s demand in the Sodium-ion Battery market.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 1120 Million
Projected Market Size in 2030 USD 2899 Million
Market Size in 2022 USD 1317 Million
CAGR Growth Rate 11.8% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Aquion Energy, Zhejiang Lvming Energy (Durathon), Faradion Limited, Panasonic Corporation, HiNa Battery Technology, Qintang New Energy, Liaoning Hongcheng, Nrgtek Inc., AGM Batteries Ltd., NGK, NEI Corporation, and Others
Key Segment By Type, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Insights: 

  • As per the analysis shared by our research analyst, the Sodium-ion Battery market is estimated to grow annually at a CAGR of around 26% over the forecast period (2022-2030).
  • In terms of revenue, the Sodium-ion Battery market size was valued at around USD 1120 million in 2021 and is projected to reach USD 4300 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • The Sodium-ion Battery market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
  • The study includes data on the significant market drivers, challenges, and opportunities and their effects.
  • The study elaborates on the SWOT analysis and Porter’s Five Forces model.
  • The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.

Recent Development

  • January 2022: Reliance Industries disclosed an agreement between Faradion and its shareholders to purchase all of Faradion’s equity shares through secondary transactions for a total of GBP 94.45 million. This deal was signed with Reliance New Energy Solar Limited, a subsidiary of Reliance Industries. According to the company, Reliance will also deploy Faradion’s cutting-edge technology at its proposed fully integrated storage technology gigafactory, which is a part of the Dhirubhai Ambani Green Energy Giga Complex project in Jamnagar.
  • April 2022: AMTE Power plc teamed with Sprint Power and Ultrium to develop next-generation battery solutions to fulfil the complex and growing demands of the electric vehicle (EV) market.
  • July 2021: Uninterruptible Power Systems (UPS) utilizing Natron’s sodium-ion batteries were introduced by Xtreme Power Conversion.

Regional Landscape

With over 35% market share in 2021, Europe dominated the industry. The growth is attributed to the involvement of other businesses in the manufacturing and marketing of sodium-ion batteries. The first vehicle powered by sodium-ion batteries was created by the English company Faradion in collaboration with Oxford University, Williams Advanced Engineering, and Williams Advanced Engineering. The business concentrated on the Low-Cost Storage of Renewable Energy project in January 2021 to demonstrate Na-ion technology for solar energy storage. This project was funded by Innovate UK.

Sodium-ion Battery Market (trends by region)

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A solid and quickly growing market for renewable energy appears to exist in the Asia Pacific region. One of the primary factors propelling the market’s growth in the region’s renewable energy market is capacity expansions in China, Japan, and India. As a result, future sodium-ion revenue growth in the Asia Pacific region is predicted to be boosted by the rise of the renewables sector.

Competitive Landscape

Manufacturers of sodium-ion batteries and the industry are among the key market participants studied and evaluated. In addition, to further assist the reader in understanding how competitors compare to one another and give a comprehensive picture of the market, a thorough competitive benchmarking of the sodium-ion battery market’s participants has been conducted.

Furthermore, thorough competitive strategies, including alliances, contracts, and collaborations, will help readers comprehend the untapped revenue potential in the sodium-ion battery business.

Prominent Players:

  • Aquion Energy
  • Zhejiang Lvming Energy (Durathon)
  • Faradion Limited
  • Panasonic Corporation
  • HiNa Battery Technology
  • Qintang New Energy
  • Liaoning Hongcheng
  • Nrgtek Inc.
  • AGM Batteries Ltd.
  • NGK
  • NEI Corporation

The global Sodium-ion Battery market is segmented as follows:

By Type

  • Sodium-Oxide Batteries
  • Sodium-Sulfur Batteries
  • Sodium-Salt Batteries

By Application

  • Grid-Level Applications
  • Transportation
  • Consumer Electronics
  • Industrial
  • Defense
  • Aerospace
  • Marine
  • Others

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Sodium-ion Battery Market, (2022 – 2030) (USD Million)
    • 2.2 Global Sodium-ion Battery Market : snapshot
  • Chapter 3. Global Sodium-ion Battery Market – Industry Analysis
    • 3.1 Sodium-ion Battery Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Surging demand for sodium-ion batteries from telecom companies and data centers
      • 3.2.2 Increased demand for low-cost electrical energy storage
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Sodium-ion Battery Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Sodium-ion Battery Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Sodium-ion Battery Market – Type Analysis
    • 5.1 Global Sodium-ion Battery Market overview: By Type
      • 5.1.1 Global Sodium-ion Battery Market share, By Type, 2021 and 2030
    • 5.2 Sodium-Oxide Batteries
      • 5.2.1 Global Sodium-ion Battery Market by Sodium-Oxide Batteries, 2022 – 2030 (USD Million)
    • 5.3 Sodium-Sulfur Batteries
      • 5.3.1 Global Sodium-ion Battery Market by Sodium-Sulfur Batteries, 2022 – 2030 (USD Million)
    • 5.4 Sodium-Salt Batteries
      • 5.4.1 Global Sodium-ion Battery Market by Sodium-Salt Batteries, 2022 – 2030 (USD Million)
  • Chapter 6. Global Sodium-ion Battery Market – Application Analysis
    • 6.1 Global Sodium-ion Battery Market overview: By Application
      • 6.1.1 Global Sodium-ion Battery Market share, By Application, 2021 and 2030
    • 6.2 Grid-Level Applications
      • 6.2.1 Global Sodium-ion Battery Market by Grid-Level Applications, 2022 – 2030 (USD Million)
    • 6.3 Transportation
      • 6.3.1 Global Sodium-ion Battery Market by Transportation, 2022 – 2030 (USD Million)
    • 6.4 Consumer Electronics
      • 6.4.1 Global Sodium-ion Battery Market by Consumer Electronics, 2022 – 2030 (USD Million)
    • 6.5 Industrial
      • 6.5.1 Global Sodium-ion Battery Market by Industrial, 2022 – 2030 (USD Million)
    • 6.6 Defense
      • 6.6.1 Global Sodium-ion Battery Market by Defense, 2022 – 2030 (USD Million)
    • 6.7 Aerospace
      • 6.7.1 Global Sodium-ion Battery Market by Aerospace, 2022 – 2030 (USD Million)
    • 6.8 Marine
      • 6.8.1 Global Sodium-ion Battery Market by Marine, 2022 – 2030 (USD Million)
    • 6.9 Others
      • 6.9.1 Global Sodium-ion Battery Market by Others, 2022 – 2030 (USD Million)
  • Chapter 7. Sodium-ion Battery Market – Regional Analysis
    • 7.1 Global Sodium-ion Battery Market Regional Overview
    • 7.2 Global Sodium-ion Battery Market Share, by Region, 2021 & 2030 (USD Million)
    • 7.3. North America
      • 7.3.1 North America Sodium-ion Battery Market, 2022 – 2030 (USD Million)
        • 7.3.1.1 North America Sodium-ion Battery Market, by Country, 2022 – 2030 (USD Million)
    • 7.4 North America Sodium-ion Battery Market, by Type, 2022 – 2030
      • 7.4.1 North America Sodium-ion Battery Market, by Type, 2022 – 2030 (USD Million)
    • 7.5 North America Sodium-ion Battery Market, by Application, 2022 – 2030
      • 7.5.1 North America Sodium-ion Battery Market, by Application, 2022 – 2030 (USD Million)
    • 7.6. Europe
      • 7.6.1 Europe Sodium-ion Battery Market, 2022 – 2030 (USD Million)
        • 7.6.1.1 Europe Sodium-ion Battery Market, by Country, 2022 – 2030 (USD Million)
    • 7.7 Europe Sodium-ion Battery Market, by Type, 2022 – 2030
      • 7.7.1 Europe Sodium-ion Battery Market, by Type, 2022 – 2030 (USD Million)
    • 7.8 Europe Sodium-ion Battery Market, by Application, 2022 – 2030
      • 7.8.1 Europe Sodium-ion Battery Market, by Application, 2022 – 2030 (USD Million)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Sodium-ion Battery Market, 2022 – 2030 (USD Million)
        • 7.9.1.1 Asia Pacific Sodium-ion Battery Market, by Country, 2022 – 2030 (USD Million)
    • 7.10 Asia Pacific Sodium-ion Battery Market, by Type, 2022 – 2030
      • 7.10.1 Asia Pacific Sodium-ion Battery Market, by Type, 2022 – 2030 (USD Million)
    • 7.11 Asia Pacific Sodium-ion Battery Market, by Application, 2022 – 2030
      • 7.11.1 Asia Pacific Sodium-ion Battery Market, by Application, 2022 – 2030 (USD Million)
    • 7.12. Latin America
      • 7.12.1 Latin America Sodium-ion Battery Market, 2022 – 2030 (USD Million)
        • 7.12.1.1 Latin America Sodium-ion Battery Market, by Country, 2022 – 2030 (USD Million)
    • 7.13 Latin America Sodium-ion Battery Market, by Type, 2022 – 2030
      • 7.13.1 Latin America Sodium-ion Battery Market, by Type, 2022 – 2030 (USD Million)
    • 7.14 Latin America Sodium-ion Battery Market, by Application, 2022 – 2030
      • 7.14.1 Latin America Sodium-ion Battery Market, by Application, 2022 – 2030 (USD Million)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Sodium-ion Battery Market, 2022 – 2030 (USD Million)
        • 7.15.1.1 The Middle-East and Africa Sodium-ion Battery Market, by Country, 2022 – 2030 (USD Million)
    • 7.16 The Middle-East and Africa Sodium-ion Battery Market, by Type, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Sodium-ion Battery Market, by Type, 2022 – 2030 (USD Million)
    • 7.17 The Middle-East and Africa Sodium-ion Battery Market, by Application, 2022 – 2030
      • 7.17.1 The Middle-East and Africa Sodium-ion Battery Market, by Application, 2022 – 2030 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 Aquion Energy
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Zhejiang Lvming Energy (Durathon)
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Faradion Limited
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Panasonic Corporation
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 HiNa Battery Technology
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Qintang New Energy
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Liaoning Hongcheng
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Nrgtek Inc.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 AGM Batteries Ltd.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 NGK
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 NEI Corporation
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures
  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Sodium-ion Battery Market, 2022 – 2030 (USD Million)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Sodium-ion Battery Market attractiveness, By Type
  • 6. Global Sodium-ion Battery Market attractiveness, By Application
  • 7. Global Sodium-ion Battery Market share by Type, 2022 and 2030 (USD Million)
  • 8. Global Sodium-ion Battery Market by Sodium-Oxide Batteries, 2022 – 2030 (USD Million)
  • 9. Global Sodium-ion Battery Market by Sodium-Sulfur Batteries, 2022 – 2030 (USD Million)
  • 10. Global Sodium-ion Battery Market by Sodium-Salt Batteries, 2022 – 2030 (USD Million)
  • 11. Global Sodium-ion Battery Market share by Application, 2022 and 2030 (USD Million)
  • 12. Global Sodium-ion Battery Market by Grid-Level Applications, 2022 – 2030 (USD Million)
  • 13. Global Sodium-ion Battery Market by Transportation, 2022 – 2030 (USD Million)
  • 14. Global Sodium-ion Battery Market by Consumer Electronics, 2022 – 2030 (USD Million)
  • 15. Global Sodium-ion Battery Market by Industrial, 2022 – 2030 (USD Million)
  • 16. Global Sodium-ion Battery Market by Defense, 2022 – 2030 (USD Million)
  • 17. Global Sodium-ion Battery Market by Aerospace, 2022 – 2030 (USD Million)
  • 18. Global Sodium-ion Battery Market by Marine, 2022 – 2030 (USD Million)
  • 19. Global Sodium-ion Battery Market by Others, 2022 – 2030 (USD Million)
  • 20. Global Sodium-ion Battery Market share, by Region, 2022 and 2030
  • 21. North America Sodium-ion Battery Market, 2022 – 2030 (USD Million)
  • 22. Europe Sodium-ion Battery Market, 2022 – 2030 (USD Million)
  • 23. Asia Pacific Sodium-ion Battery Market, 2022 – 2030 (USD Million)
  • 24. Latin America Sodium-ion Battery Market, 2022 – 2030 (USD Million)
  • 25. The Middle-East and Africa Sodium-ion Battery Market, 2022 – 2030 (USD Million)
List Of Tables
  • 1. Global Sodium-ion Battery Market: Snapshot
  • 2. Drivers of the Sodium-ion Battery Market: impact analysis
  • 3. North America Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 4. North America Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 5. U.S. Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 6. U.S. Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 7. Canada Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 8. Canada Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 9. Europe Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 10. Europe Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 11. Germany Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 12. Germany Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 13. France Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 14. France Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 15. U.K. Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 16. U.K. Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 17. Italy Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 18. Italy Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 19. Spain Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 20. Spain Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 21. Rest of Europe Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 22. Rest of Europe Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 23. Asia Pacific Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 24. Asia Pacific Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 25. China Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 26. China Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 27. Japan Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 28. Japan Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 29. India Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 30. India Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 31. South Korea Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 32. South Korea Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 33. South-East Asia Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 34. South-East Asia Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 35. Rest of Asia Pacific Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 36. Rest of Asia Pacific Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 37. Latin America Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 38. Latin America Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 39. Brazil Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 40. Brazil Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 41. Mexico Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 42. Mexico Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 43. Rest of Latin America Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 44. Rest of Latin America Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 45. The Middle-East and Africa Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 46. The Middle-East and Africa Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 47. GCC Countries Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 48. GCC Countries Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 49. South Africa Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 50. South Africa Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)
  • 51. Rest of Middle-East Africa Sodium-ion Battery Market revenue, By Type, 2022 – 2030 (USD Million)
  • 52. Rest of Middle-East Africa Sodium-ion Battery Market revenue, By Application, 2022 – 2030 (USD Million)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players:

  • Aquion Energy
  • Zhejiang Lvming Energy (Durathon)
  • Faradion Limited
  • Panasonic Corporation
  • HiNa Battery Technology
  • Qintang New Energy
  • Liaoning Hongcheng
  • Nrgtek Inc.
  • AGM Batteries Ltd.
  • NGK
  • NEI Corporation

FAQs

“Europe” region will lead the global Sodium-ion Battery market during the forecast period 2022 to 2030.

The key factors driving the market are Surging demand for sodium-ion batteries from telecom companies and data centers and increased demand for low-cost electrical energy storage

The key players operating in the Sodium-ion Battery market are Aquion Energy, Zhejiang Lvming Energy (Durathon), Faradion Limited, Panasonic Corporation, HiNa Battery Technology, Qintang New Energy, Liaoning Hongcheng, Nrgtek Inc., AGM Batteries Ltd., NGK, NEI Corporation.

The global Sodium-ion Battery market is expanding growth with a CAGR of approximately 11.8% during the forecast period (2022 to 2030).

The global Sodium-ion Battery market size was valued at USD 1120 Million in 2021 and it is projected to reach around USD 2899 Million by 2030.

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