The global sodium sulfur battery market is expected to exhibit a CAGR of 14.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
Sodium Sulfur Battery Market Trends:
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sodium sulfur battery market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.
Breakup by Product:
- Private Portable
Breakup by Application:
- Ancillary Services
- Load Leveling
- Renewable Energy Stabilization
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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.
|Base Year of the Analysis
||Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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