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The global market for sodium-ion batteries will grow from $420 million in 2017 to $1.2 billion by 2022 with a compound annual growth rate (CAGR) of 23.9% for the period of 2017-2022
NEW YORK, Jan. 5, 2018 /PRNewswire/ -- The global market for sodium-ion batteries will grow from $420 million in 2017 to $1.2 billion by 2022 with a compound annual growth rate (CAGR) of 23.9% for the period of 2017-2022.
Read the full report: https://www.reportlinker.com/p05264585
• The sodium-sulfur batteries market will grow from $285.6 million to $857.5 million by 2022 with a CAGR of 24.6%.
• The sodium-salt batteries (zebra batteries) market will grow from $86.1 million to $240.1 million by 2022 with a CAGR of 22.8%.
Chapter 1: Introduction
Study Goals and Objectives
The key objective of the report is to analyze the key trends in the sodium-ion battery market. Sodiumion batteries make up a highly niche market with most of the products under development and trial phases.
This report quantifies the worldwide growth potential of sodium-ion batteries over the five-year period from 2017 through 2022. The total market size of sodium-ion batteries with regional breakdowns has been covered in the report. This study focuses on identifying competition from lithium-ion batteries, key end users, and industries that will affect the major market trends.
The key factors driving the market's growth are the growing market for consumer electronics and smartphones. There is constant demand from the consumers for more durable and long-lasting batteries.
Sodium-ion batteries have shown more potential than lithium-ion batteries due to easy availability of raw materials and cost efficiency. Hence, this report identifies the factors that give sodium-ion batteries an edge over lithium-ion batteries.
Reasons for Doing This Study
This BCC Research study is presented to increase the awareness of sodium-ion batteries for various applications.
This report provides market trends and information about emerging electrochemical energy storage technologies, drivers and limiters of the sodium-based batteries market, current and future market prospects of sodium-based batteries, availability and market forecast for component materials of sodium-based batteries before forecasting the market by application, technology and region through 2022.
It also provides the current state of sodium-based batteries, the technological hurdles in overtaking lithium-based batteries, information about government support and subsidies as well as indepth patent analysis for sodium-based batteries.
The report explains the key trends in the industry. It discusses the industries that are using the products and studies the motivating and restraining factors of the market. The report will be a key decision-making tool for the intended audience.
Scope of Report
Sodium-ion batteries have sodium-ion charge carriers. Sodium-ion batteries have recently gained commercialization status, and the market is expected to grow with an impressive compound annual growth rate (CAGR) of 23.9% for the forecast period of 2017 to 2022. The report details various segments of the sodium-ion battery market.
The market is segmented on the basis of technologies. The market by technology includes sodium-sulfur batteries, sodium-salt batteries, sodium-ion batteries and sodium-oxygen batteries.
The market is further segmented on the basis of end users, which includes portable electronic devices (mobile phones, laptop and tablets, cameras, portable medical devices, portable electronic devices, toys, drones and remote access devices), automobile applications (electric vehicle and fossil fuel-based vehicles), residential power backup, commercial power backup, grid-level applications, industrial, military and space applications.
The report also analyzes the market for raw materials, which includes electrolyte materials, separators, barrier materials, encapsulating materials, packaging and other. The report also analyzes patents and new technologies.
The market is further segmented by geographic region. The major geographic regions covered in the report are North America, Europe, Asia-Pacific and the Rest of the World (RoW).
A country-specific breakdown of the market for sodium-ion batteries market is also included in the report. The study covers the global market for the sodium-ion market, and is not limited to the countries included in this report. The selection of the countries to be included in this report was mainly based on the total revenue generated from the sale of sodium-ion market. Major countries included in the report are the U.S., Canada, Germany, the U.K., Spain, Italy, France, China, Japan/span> and India.
The competitive landscape of the global market for sodium-ion batteries market is discussed and includes profiles of the major companies and their product portfolios. All categories are discussed in detail, describing each segment, identifying current products on the market, measuring market size, identifying market drivers, forecasting for 2017 to 2022, and assessing the competitors and competitor market shares.
Information Sources
The information and analysis presented in the report are based on extensive first-hand interviews with primary research sources, including executives, product managers, and specialists in the market for sodium-ion batteries. Secondary information was obtained from government agencies, business and trade magazines, official websites of key manufacturers and key end users.
International organizations were used as sources to gain raw data such as energy demand, renewable energy production, chemical property, storage capacity, R&D and funding for the final estimations. International organizations include Energy Storage Canada, Union of Concerned Scientists, Energy Storage Association, the China Energy Storage Alliance (CNESA), the India Energy Storage Alliance (IESA), British Institute of Energy Economics, the European Association for Storage of Energy (EASE), Association of European Automotive and Industrial Battery Manufacturers (EUROBAT), American Chemical society (ACS) and many more.
Secondary data were also collected from official websites of manufacturers and distributors in the sodium-ion batteries market. Data were also collected from key end users in the markets, which include portable electronic devices (mobile phones, laptop and tablets, camera, portable medical devices, portable electronic devices, toys, drone and remote access devices), automobile applications (electric vehicle and fossil fuel based vehicles), residential power back-up, commercial power back-up, grid level applications, industrial, military and space applications.
The information collected was utilized to derive the forecasted numbers. The data was further validated by industry participants via phone, email and online interviews.
Methodology
Annual revenues of major sodium-ion battery companies, their annual reports and forward-looking statements as well as industry end users were analyzed to derive the size of the market. Key information from published literature was used to conduct interviews with a number of industry participants to validate and obtain expert opinions on current and future trends in the sodium-ion batteries market.
Interviews were the primary basis for information regarding the development of market size, and were obtained by email and telephone. Interviews were also used to confirm and/or adjust market size and market share estimates, as well as in formulating market projections.
All market data pertain to the global market at the manufacturer's level. Total revenues and forecast revenue values are in constant U.S. dollars, unadjusted for inflation.
Recent activities were tracked for the major companies involved in the sodium-ion batteries market in order to understand the market trends. The forecast market size was based on these trends. Historical data are provided for 2016 and forecast data are provided for 2022.
Historical, base year and forecast data are provided for each market segment and sub-segment. Market shares are provided for each market segment for the 2017 base year.
Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
• North America o United States o Canada
• Europe o France o Germany o Italy
• Asia o China o India o Japan
• Rest of the World
Sodium-ion Batteries Market, by Technology Type
Sodium-sulfur batteries
Sodium-salt batteries (zebra batteries)
Sodium-oxygen (sodium-air) batteries
Sodium-ion Batteries Market, by End Use
Portable electronic devices
Mobile phones
Laptop and tablets
Cameras
Portable medical devices
Portable electronic appliances
Toys
Drone and Remote access devices
Other devices
Automobile applications
Residential power backup
Electric vehicles
Fossil fuel based vehicles
Commercial power backup
Grid level application
Industrial application
Military and space
Chapter 2: Summary Energy storage is now a basic requirement, however, in various domains including automobile and power generation and so on, the need for lower cost batteries created significant demand for sodiumion battery market. The cost of sodium-ion batteries is lower than other alternatives such as lithium ion and nickel cadmium batteries.
Sodium is widely available, and the price is also low; therefore, it is less vulnerable to price fluctuation. The sodium-ion is heavier than lithium ion, and therefore, more suited for grid storage than mobile storage. A number of companies are engaged in R&D activities to develop new battery technologies.
Because of its low cost, companies are focused on sodium-ion batteries. The sodium-ion battery market is in its initial stage; however, it has a potential to grow. Penetration of the portable devices market is a major driver for energy storage devices, such as removable batteries and portable power banks.
Companies are developing compact sodium-ion batteries to be used in portable electronic devices. The commercialization of various new technology in sodium-ion batteries is expected from 2017 to 2022.
A large share of energy requirement is fulfilled by fossil fuels. High price volatility in the crude oil market is providing opportunities to other alternative energy sources.
Environmental concerns are another drawback of fossil-based energy, and consumers are moving toward renewable energy. Due to the shift from fossil fuel to renewable energy, there is a considerable demand for energy storage. Although windand solar-generated electricity is becoming increasingly popular in several industrialized countries, these sources provide intermittent energy; thus, energy storage systems are required for load-leveling, that is, storage of energy until needed by the electrical grid.
Portable energy solutions that realize the practical use of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and purely electric vehicles (EVs) will further reduce dependence on fossil fuels. Sodium-ion batteries are most suited for grid level storage and electric transport applications.
The sodium-ion batteries market is most suited for medium and large energy storage systems; however; companies are engaged in R&D activities to develop sodium-ion batteries for portable devices. All the applications of sodium-ion batteries are in a nascent stage, and have potential to grow. The sodium-ion batteries market is expected to grow at a 23.9% CAGR from 2017 to 2022. As the leader in energy storage technology and home to various leading battery manufacturers, the U.S. is the largest market for the sodium-ion batteries.
Due to various green energy initiatives, the European region has an increased demand for large energy storage system. Asia-Pacific is a price sensitive market, and has the highest CAGR in the market for low-cost sodium-ion batteries.
The market is segmented on the basis of technology type. The market size of sodium-ion batteries was estimated to be $420 million in 2017, up from $340 million in 2016, and is further estimated to reach $1.2 billion in 2022. The global sodium-ion batteries market is estimated to grow at the CAGR of 23.9% from 2017 through 2022. The increasing demand of consumer electronics and electric vehicles, stringent government regulation to control rising environmental pollution, and low cost of sodium-ion battery as compared with lithium-ion batteries are estimated to be the major factors that are driving the growth of the market.
Read the full report: https://www.reportlinker.com/p05264585
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