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Sodium Ion Battery Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 53 Views
 
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Sodium ion battery is a type of rechargeable battery that uses sodium ions as the charge carriers. The working mechanism of sodium ion batteries is identical as that of other commercially used batteries such as lithium ion batteries. A sodium ion battery contains a cathode made of any material that contains sodium, a liquid electrolyte of sodium salts in a polar solvent and an anode. Sodium possesses electrochemical properties and high specific discharge capacity, which make it an effective energy storage system. Sodium ion batteries are extensively used in different sectors such as the electronics, automobile, power tools, and healthcare. 

Market scope and structure analysis

Report Metric

Details

Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Type, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East & Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA)

  Companies covered

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

 

COVID-19 scenario analysis

The outbreak of the COVID-19 pandemic has severely affected the global sodium ion battery market.

  • The outbreak of the global pandemic has caused a significant decline of the world economy leading to a lowering of disposable income among the consumer. As a result, the demand for electronics and gadgets decreased to a great extent, which has direct effect on the demand for sodium ion batteries in the market.
  • Moreover, the nationwide lockdown imposed by the governments has affected the manufacturing facilities across the globe as they suffered from lack of workforce during the pandemic. This has further affected the global sodium ion battery market.

Top impacting factors: market scenario analysis, trends , drivers, and impact analysis

Increase in preference toward sodium ion batteries majorly in the electrical and electronics industry has played a major role in the growth of the global sodium ion battery market. The abundance of sodium metal on the earth’s crust and its easy accessibility makes sodium ion batteries an ideal choice than the expensive lithium ion batteries. Owing to high availability of sodium, the prices of cathode and the electrolyte go down to about 50% of the total cost of the cell, thereby significantly reducing the overall price of the battery. Moreover, the depleting lithium resources along with the higher costs associated with the mining and processing of lithium have made the major companies to shift toward using sodium ion batteries. Furthermore, the processing of the sodium-based compounds can be done using the same equipment that is used during the processing of lithium ion materials, which favors the transition of the manufactures toward sodium ion batteries. The higher availability of sodium metal plays a significant role in the sustainability of the sodium ion batteries, thereby fulfilling the increasing demand for a stable source of power supply in the market. However, the presence of lithium ion batteries as alternative acts as a restraining factor for the market. Conversely, the need for a more sustainable and cheaper solution for the demand for power has proved to be a key factor driving the growth of the sodium ion battery market.

Asia-Pacific holds a major fraction of the global sodium ion battery market due to the presence of a massive electronics industry in the region especially in China. The market in Europe and North America is expected to have a lucrative growth with the increasing applications of sodium ion batteries in different sectors such as automobile and construction. 

Key segments covered

Segments

Subsegments

  Type

  • Sodium-Sulfur Batteries
  • Sodium-Salt Batteries (Zebra Batteries)
  • Sodium-Oxygen (Sodium Air) Batteries

  Industry Vertical

  • Consumer Electronic Devices
  • Automobile & Transportation
  • Power Backup
  • Grid-Level Applications
  • Industrial
  • Aerospace & Defense
  • Marine
  • Others

 

Key benefits of the report

  • This study presents the analytical depiction of the global sodium ion battery industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sodium ion battery market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global sodium ion battery market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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