USD 311.65 million
Sodium-ion Battery Market Size, Share, and Growth Analysis
Sodium-ion Battery Market By Battery Type (Sodium Sulfur Batteries, Sodium Salt Batteries), By Technology (Aqueous, Nonaqueous), By Application (Stationary Energy Storage, Transportation), By End User, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG55E2029 |
Region:
Global |
Published Date: January, 2025
Pages:
165
|Tables:
92
|Figures:
76
Format -
Sodium-ion Battery Market Insights
Global Sodium-ion Battery Market size was valued at USD 311.65 million in 2023 and is poised to grow from USD 359.02 million in 2024 to USD 1113.63 million by 2032, growing at a CAGR of 15.2% during the forecast period (2025-2032).
The sodium-ion battery (NIB or SIB) is a form of rechargeable battery similar to the lithium-ion battery, except it uses sodium ions (Na+) as charge carriers instead of lithium ions (Li+). Its operating principle and cell construction are nearly equivalent to those of commercially available lithium-ion battery types, except that sodium compounds are employed instead of lithium compounds.
The sodium-ion battery has had a global impact as a large-scale and low-cost alternative to lithium-ion batteries. The sodium metal in sodium-ion batteries has a larger ionic radius than lithium metal in lithium-ion batteries, which results in fewer changes in the materials during electrochemical cycling, offering higher stability than the lithium-ion battery. Sodium-ion batteries have outstanding characteristics such as low cost, comparable energy densities and power storage to other counterparts, increased safety with improved thermal stability, and exceptional cycle life, among others. In general, sodium-ion batteries are more suited for stationary applications than mobile applications.
US Sodium-ion Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Stationary Energy Storage
Fastest Growth
Stationary Energy Storage
Growth Rate
15.2% CAGR
Global Sodium-ion Battery Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Sodium-ion Battery Market Segments Analysis
Global Sodium-ion Battery Market is segmented by Battery Type, Technology, Application, End User and region. Based on Battery Type, the market is segmented into Sodium Sulfur Batteries, Sodium Salt Batteries, Sodium Air Batteries and Other Battery Types. Based on Technology, the market is segmented into Aqueous and Nonaqueous. Based on Application, the market is segmented into Stationary Energy Storage and Transportation. Based on End User, the market is segmented into Consumer Electronic Devices, Automobile & Transportation, Power Backup, Industrial, Aerospace & defence and Marine. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Sodium-ion Battery market Analysis by application
In 2021, stationary energy storage dominated the global Sodium-ion Battery market and it is likely to maintain its dominance throughout the forecast period. The amount of energy provided by renewable sources, such as solar and wind, is increasing, and energy storage is critical to ensuring energy supply continuity. When energy is required, the stationary energy storage system can store it and then release it as electricity. A stationary energy storage system frequently includes an array of batteries, an electronic control system, an inverter, and a thermal management system. Although volumetric energy density criteria are less stringent than for other uses, life cycle costs for stationary storage applications such as grid-scale load shifting of intermittent renewable energy or behind-the-meter home storage must be as low as possible.
Global Sodium-ion Battery Market By Application, 2021 (%)
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Sodium-ion Battery Market Regional Insights
In 2021, Europe dominated the global sodium-ion battery market, owing to owing to ongoing research and increasing deployment of battery energy storage systems and electric vehicles. Quarterly PEV sales rose in the second quarter of 2020, fueled by increased environmental awareness as a result of the COVID-19 epidemic. This increase in new e-vehicle registration resulted in the displacement of 3.8 billion liters of gasoline in Europe, creating a dent in the region's motor fuel consumption. Germany led the fleet electrification movement, with over 681,400 electric vehicle sales in 2021, and Norway, with battery-electric and plug-in hybrid electric vehicles accounting for more than 86 percent of new vehicle sales in 2021. Tesla, Renault, and Volkswagen were among the top-selling brands in the region for completely electric vehicles—the Tesla Model 3, Renault Zoe, and Volkswagen ID.3 were the most popular models in the European Union in 2021.
NAIADES, a European Union-funded program in France, demonstrated the potential of the Na-ion battery. The project's main purpose was to develop a sodium-ion battery technology for long-term Electric Energy Storage (EES) that would dramatically reduce the cost of lithium-ion technology while ensuring long-term safety, cycle life, and energy density.
Furthermore, North America is estimated to register highest CAGR over the forecast period due to the increasing usage of electric vehicles and solar and wind power projects in this region. Wind power is one of the most rapidly growing renewable energy technologies.
Global Sodium-ion Battery Market By Geography, 2021-2028
- Largest
- Fastest
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Sodium-ion Battery Market Dynamics
Sodium-ion Battery market Driver
Rising industrial use to propel market growth
- The rising demand for electric vehicles is anticipated to drive sodium-ion battery market. EV sales are estimated to reach 15 million in 2025 and over 25 million vehicles in 2030, representing respectively 10% and 15% of all road vehicle sales. While lithium-ion batteries are in high demand, sodium-ion batteries are rapidly gaining popularity as their benefits over lithium-ion batteries become more apparent. The Nagoya Institute of Technology discovered that sodium-ion batteries are extremely advantageous to sustainability for a variety of reasons. For example, sodium is a readily available material since it is abundant in the earth's crust and seawater. This would provide consistent supply of the element with minimal price swings, providing it a considerable edge over lithium, which is not widely available. As a result, the cost of lithium is projected to skyrocket in the near future, as demand for the element is expected to increase by 1500% by 2030, exceeding supply, according to Bloomberg NEF forecasts. Finally, sodium-ion batteries charge faster than lithium-ion batteries, making them an excellent replacement.
Sodium-ion Battery market Restraint
Sodium-ion Battery market Challenge
Production capacity
- Low production capacity is a challenge in sodium-ion battery market. As many companies transition from the start-up phase to production, volumes remain constrained.
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Sodium-ion Battery Market Competitive Landscape
The market for sodium-ion batteries is moderately consolidated. Faradion Limited, Contemporary Amperex Technology Co. Limited, NGK Insulators Ltd, TIAMAT SAS, HiNa Battery Technology Co. Ltd, Altris AB, and Natron Energy Inc. are among the market's leading players.
Top Players in Sodium-ion Battery Market
- Contemporary Amperex Technology Co., Limited (CATL) (China)
- AMTE Power PLC (United Kingdom)
- NGK Insulators Ltd. (Japan)
- BYD Company Limited (China)
- Reliance Industries Limited (India)
- Toshiba Corporation (Japan)
- Samsung SDI Co., Ltd. (South Korea)
- Panasonic Corporation (Japan)
- LG Energy Solution Ltd. (South Korea)
- GS Yuasa Corporation (Japan)
- Enel S.p.A. (Italy)
- Siemens AG (Germany)
- ABB Ltd. (Switzerland)
- General Electric Company (United States)
- Tesla, Inc. (United States)
- Energizer Holdings, Inc. (United States)
- Duracell Inc. (United States)
- Hitachi Chemical Company, Ltd. (Japan)
Sodium-ion Battery market Recent Development
- In May 2022, Natron Energy, Inc. and Clarios International Inc. announced a strategic collaboration to produce sodium-ion batteries. When it begins production in 2023, the Clarios International Inc. Meadowbrook facility is planned to become the world's first mass-produced and largest sodium-ion battery plant. The pant will have a yearly capacity of 600MW.
- In January 2022, Reliance Industries announced that its subsidiary Reliance New Energy Solar Limited has entered into an agreement with Faradion (Faradion) and its shareholders to buy 100% of Faradion's equity shares in secondary transactions for GBP 94.42 million. Reliance will also deploy Faradion's cutting-edge technology at its projected fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project in Jamnagar, according to the company.
Sodium-ion Battery Key Market Trends
- The demand for greener energy is increasing globally as a result of rising greenhouse gas emissions. This, combined with the rising use of sodium-ion batteries to store electricity generated by solar or wind energy, is one of the primary reasons driving the industry. Furthermore, increased public knowledge of the benefits of sodium-ion batteries, including as high energy density, low charging time, and a high number of charging cycles, is driving market expansion. Furthermore, governments in numerous countries are encouraging the development of renewable energy to provide consistent power supplies and fuel diversification, which improves energy security, reduces the risk of fuel spills, and reduces the demand for imported fuels. Aside from that, leading market players are heavily spending in research and development (R&D) activities to introduce improved stationary energy storage, which is projected to have a favorable impact on the market. Furthermore, rising demand for electric cars (EVs) due to zero tailpipe emissions of air pollutants such as nitrogen oxides (NOx) and particulates is expected to drive market expansion.
Sodium-ion Battery Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, in comparison to the widespread use of Li-ion cells in energy storage sectors, portable electronics, EVs, and large-scale energy storage, Na-ion cells are still being developed for pilot plant-scale production. However, things will change due to the invocation of next-generation technologies and cost reduction.
Sodium-ion batteries are predicted to replace some of the LFP shares in passenger EVs and energy storage, reaching 20 GWh by 2030. The cost savings are incredible: producing 1 GWh Na-ion cells will save 41% of the material cost when compared to LFP cells.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 311.65 million |
| Market size value in 2032 | USD 1113.63 million |
| Growth Rate | 15.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sodium-ion Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sodium-ion Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sodium-ion Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sodium-ion Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sodium-ion Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sodium-ion Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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