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The global sodium sulfur battery market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during the forecast period (2021-2026). A sodium sulfur (NaS) battery comprises a beta-alumina ceramic electrolyte, liquid electrode, and a container to transform the electric energy into chemical. It has three major subsystems, including interconnected cells, an enclosure to maintain the operating temperature, and a thermal management system for initial heating and removing waste heat. As they provide large capacity, high energy density, and long life, the demand for NaS batteries is increasing over lithium-ion batteries as they can deliver high power over shorter periods. The rising demand can also be accredited to the wide range of power storage capabilities, which can connect multiple devices to increase power capacity.
The increasing demand for energy storage worldwide represents one of the primary factors stimulating the market growth. NaS batteries act as a cost-effective solution for storing large amounts of electricity for hours. As they support the integration of fluctuating renewable energy sources, such as wind and solar, into the grid, they are finding extensive application in the industrial sector for stabilizing electricity and emergency power supply. Moreover, due to the rising environmental concerns, NaS batteries are widely being used for reducing costs and the ecological load of grid-scale stationary energy storage. Apart from this, numerous companies from different industry verticals are entering into joint development agreements (JDA) to develop innovative products, which is anticipated to fuel the market growth. For instance, BASF New Business GmbH, a German-based chemical company, formed a sales partnership with the Japanese ceramics manufacturer NGK Insulators, Ltd. The two companies aim to introduce the next generation of NaS batteries using BASF’s extensive chemistry expertise and NGK’s competence in battery design and manufacturing.
IMARC Group provides an analysis of the key trends in each sub-segment of the global sodium sulfur battery market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product and application.
Breakup by Product:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, EaglePicher Technologies, FIAMM Energy Technology S.p.A. (SHOWA DENKO K.K.), GE Energy Storage, Kemet Corporation (Yageo Corporation), NGK Insulators Ltd., POSCO, Sieyuan Electric Co. Ltd. and Tokyo Electric Power Company Holdings Inc.
According to the estimates by IMARC Group, the global sodium sulphur battery market is expected to witness a CAGR of 15% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nations resulting in temporary closure of numerous end-use industries for sodium sulphur battery.
Numerous companies from different industry verticals are entering into joint development agreements (JDA) to develop innovative products, thereby representing one of the key trends in the global sodium sulphur battery market.
The growing adoption of NaS batteries in the industrial sector to stabilize electricity and emergency power supplyrepresentsone of the key drivers for the global sodium sulphur battery market.
On the basis of the product, the market has been bifurcated into private portable and industrial. Currently, industrial holds the majority of the total market share.
On the basis of the application, the market has been divided into ancillary services, load leveling, renewable energy stabilization, and others. Among these, renewable energy stabilization represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global sodium sulphur battery market are BASF SE, EaglePicher Technologies, FIAMM Energy Technology S.p.A. (SHOWA DENKO K.K.), GE Energy Storage, Kemet Corporation (Yageo Corporation), NGK Insulators Ltd., POSCO, Sieyuan Electric Co. Ltd. and Tokyo Electric Power Company Holdings Inc.
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