Sodium-ion Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

The global sodium ion battery market is driving due to the inherent advantages of sodium ion batteries, rapid installations of intermittent energy sources such as wind and solar, increasing adoption of low-speed electric vehicles such as e-bikes and e-rickshaws, and rising demand for uninterrupted power supply are driving the need for sodium ion batteries market.

Drivers:

• Growing support from the governments through investments in advanced energy storage technologies
• Increasing R&D projects on sodium batteries - Majorly in India, Indonesia, China, and Japan
• Rising number of global renewable energy storage projects - Majorly in China and America
• Social and environmental pressures by the various stakeholders to reduce greenhouse gas emissions
• Economies are rapidly moving towards electricity to reduce co2 emissions
• Rising demand for battery energy storage systems in grid solutions, microgrids, and consumers
• There is a growing demand for electric charging stations with electric vehicles.
• Increasing lithium metal prices are increasing the demand for advanced battery energy storage systems.

A sodium ion battery (NIB) is an energy storage system (ESS) based on an electrochemical cell that comprises a positive and negative electrode. Sodium ion transfer occurs between the electrodes via an ionically conducting electrolyte.

Sodium battery technologies have succeeded in gaining market traction and could be competitive with Li-ion batteries. The commercialization of sodium ion batteries for automobiles and energy storage systems has increased for this technology in low-speed electric vehicles and electrical energy storage systems. The low cost, high energy densities, high power storage, improved thermal stability, remarkable cycle life and easy availability of sodium are driving the demand for sodium ion batteries.

Comparison of Li-ion Battery with Sodium Batteries:

Sodium ion Battery Advantages:

• Low-cost materials: Sodium Salt is one of the most abundant elements on Earth and therefore priced accordingly; this means system costs are lower than Li-ion
• Depth of discharge: All sodium technologies mentioned can completely discharge without degrading the cell
• Low temperature: All sodium ion batteries perform at 90% of their high capacity retention rate at -20 °C
• Thermal Runaway: All Sodium ion batteries have a high thermal conductivity

Sodium ion Battery Disadvantages:

• Capacity: Sodium ions are larger atoms than Li-ion; therefore, cells can store lower energy. However, these challenges are minimized in the latest cell designs/technologies

Sodium ion Battery Energy Storage Systems and its Applications:

• Stationary Energy Storage systems:
• Sodium-ion batteries are an emergent technology and a key part of the solution for cheaper, cleaner energy provision.
• A Na-ion battery system can charge when power demand is low and provide power to reduce peak power. Moreover, the NAS battery system can be used as an emergency power supply during power outages and momentary voltage drops. NAS batteries are increasingly being utilized to stabilize output from wind and solar power generators while proving beneficial to the spread of renewable energies and the establishment of the smart grid.
• These batteries can be incorporated in small-scale localized power supply networks, microgrids that feature reduced energy environmental impact and costs, demand response programs that effectively use stored electric power, and other new energy solutions spreading worldwide to contribute to their widespread use and development
• Transport:
• The sodium ion batteries can act as a replacement for costly lead acid batteries.
• The Na-ion battery has potential for the S-L-I (starter-lighting-ignition) 12V battery or the 48V battery in a MHEV (mild hybrid electric vehicle).
• The sodium ion batteries can be used in low cost electric vehicles such as e-scooters, e-rickshaws and e-bikes by offering much greater range.

Sodium ion Battery Challenges:

• Production capacity- As many companies move from the start-up phase to establishing production, volumes are still limited
• Production line- Faradion and other manufacturers pursuing battery solutions can utilize existing production lines currently used for Li-ion battery cell manufacturing; however, these will likely remain Li-ion as demand for these cells continues to increase

Sodium ion Battery Opportunities:

• Increasing demand for consumer electronics and smart devices
• Increasing demand for uninterrupted power supply in data centres and telecommunications
• Increasing renewable energy generation worldwide has increased the demand for grid energy storage systems
• Growing demand of budget electric cars

Sodium ion Battery Restraints:

• The lack of an industrial supply chain does not favour the active use of sodium ion batteries
• Fierce competition from lithium ion battery and other advanced battery technologies

Recent Developments:

• In January 2022, Reliance Industries announced that its subsidiary Reliance New Energy Solar Limited had entered an agreement with Faradion, a sodium ion battery manufacturer to acquire 100% of the equity shares
• In July 2021, Contemporary Amperex Technology Co. Ltd (CATL) announced the launch of its first-generation sodium ion battery, together with its AB battery pack solution, which can integrate sodium ion cells and lithium-ion cells into one pack

The stationary energy storage segment includes batteries that have applications in telecom, data centers, uninterrupted power supply, energy storage system, medical equipment, railroad signaling, diesel generator starting, controls, solar power generation systems, wind power generation systems, and switchgear applications.

Asia-Pacific

The Asia-Pacific region is expected to be the largest market for sodium ion batteries during the forecast period. With a target to reduce emissions, sodium ion battery demand will rise in the power generation and transportation sector, especially in India, China, and other Southeast Asia such as Japan, Korea, Indonesia, and Malaysia.

The Global sodium ion battery market comprises sales of sodium ion batteries used for power generation, transmission and distribution, residential and commercial projects, industrial applications and transportation.

Publisher's Global Sodium ion Battery Market report provides insights into the current global and regional market demand scenario and its outlook.

The study presents a detailed analysis of various factors that affect sodium ion battery market revenue. The study also comprehensively analyses the sodium ion battery market by segmenting it based on geography (North America, Asia Pacific, Europe, Middle East, South America).

The report also addresses present and future companies' market share, market size, market opportunities, market trends, developments, and the impact of Covid-19 on the sodium ion battery market, critical commercial developments, trends, regions, and segments poised for the fastest-growing, competitive landscape.


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