DUBLIN--(BUSINESS WIRE)--Nov 2, 2022--
The "Global Sodium Ion Battery Market Research and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
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 Organization for the Exploitation of Meteorological Satellites (EUMETSAT).
Segmental Outlook
The global sodium ion battery market is segmented based on the type and end-user. Based on the type, the market is segmented into sodium sulfur battery, sodium salt battery, and sodium oxygen battery. Based on the end-user, the market is sub-segmented into the automobile applications, residential & commercial power backups, and others. The above mentioned segments can be customized as per the requirements. Among these residential & commercial power backups segment is expected to be the fastest-growing during the forecast period due to the technical advancement in residential generators operating on sodium-ion batteries.
The Sodium-Sulfur Segment is Expected to Hold the Prominent Share in the Global Sodium-Ion Battery Market
The sodium-sulfur segment is expected to hold a prominent share in the global sodium-ion battery due to an increase in the demand for renewable energy. Various projects are still on the way to getting added to the national grid of many countries, equipped with sodium-sulfur battery systems. For Instance, In October 2021, German chemicals company BASF's subsidiary BASF New Business (BNB) commissioned the energy storage system consisting of four NAS battery containers integrated into the electricity grid at BASF's Verbund site in Antwerp, Belgium.
Regional Outlooks
The global sodium ion battery market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).
The market can be analyzed for particular region or country level as per the requirement. The Asia-Pacific is expected to be the fastest growing region in the global sodium ion battery market during the forecast period due to rise in demand of the electronic devices and stringent government regulation to control rising environmental pollution in the region especially in India and China.
The Europe Region is Expected to Hold the Prominent Share in the Global Sodium-Ion Battery Market
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.
Market Dynamics
Drivers
Restraints
Opportunities
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Market Dynamics
4. Market Segmentation
5. Competitive Landscape
6. Regional Analysis
7. Company Profiles
Companies Mentioned
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/02/2022 01:28 PM/DISC: 11/02/2022 01:28 PM
http://www.businesswire.com/news/home/20221102005905/en