The global sodium-ion battery market is anticipated to grow at a considerable CAGR of 7.9% during the forecast period. The factor that drives the global sodium-ion battery market is the increasing demand for cleaner energy, with rising greenhouse gas emissions around the globe. For instance, in November 2021, The European Space Agency (ESA) and the European Union’s Earth-monitoring program Copernicus are working on a constellation of satellites that will track emissions of man-made greenhouse gases and assist to meet climate goals. The constellation, called European CO2 Monitoring and Verification Support Capacity (CO2MVS) on anthropogenic emissions, is being launched by ESA and the European Organisation for the Exploitation of Meteorological Satellites (EUMETSAT).
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The Europe region is expected to hold a prominent share in the global sodium-ion battery market due to an increase in the sales of electric vehicles in this region. According to International Energy Agency (IEA), the largest increase in 2020 occurred in Europe, where registrations more than doubled to 1.4 million (a sales share of 10%) all over the globe. Furthermore, automotive battery production reached 160 GWh in 2020, and in Europe, it had the highest growth (+110%) to reach 52 GWh.
by Type (Sodium Sulfur Battery, Sodium Salt Battery, and Sodium Oxygen Battery) and
by End-User (Automobile Applications, Residential & Commercial Power Backups, and Others)
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Market Players Outlook
The major companies serving the global Sodium Ion Battery market include Faradion Limited, NGK Insulators Ltd, TIAMAT SAS, HiNa Battery Technology Co. Ltd, General Electric, Altairnano, and Natron Energy Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In January 2022, Reliance Industries announced that its subsidiary Reliance New Energy Solar Limited had entered an agreement with Faradion (Faradion) and its shareholders to acquire 100% of the equity shares of Faradion through secondary transactions for a total value of GBP 94.42 million. The company also revealed that Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global sodium ion battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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