Sodium Sulphur Battery Market Size, Share, Growth, Trends | Report 2022-2030
The global Sodium Sulphur Battery market was valued at USD 78.23 million in 2021 and it is predicted to surpass around USD 482.53 million by 2030 with a CAGR of 22.4% from 2022 to 2030
Report Highlights
The growing demand for energy storage batteries and power supply across the globe is expected to boost the growth of the market over the estimated period.
Sodium Sulphur (NaS) batteries are pre-eminent by adding electrodes to increase their operational flexibility and lifespan. It also eliminates the hazards related to fire calamities. However, sodium Sulphur batteries are hazardous and can catch fire easily when they meet moisture and air. Due to the highly corrosive nature, along with the high operating temperature of sodium polysulfide, these batteries are used in stationary applications, including grid energy storage.
The renewable energy stabilization application segment is projected to witness substantial growth over the upcoming years as NaS batteries are a possible energy storage technology to support renewable energy power generation, precisely solar and wind generation plants. Moreover, the growing integration of renewable energy sources, such as solar and wind, into the grid areas is projected to boost the growth of the renewable energy stabilization application segment. The industrial product segment accounted for 81.8% share of the global revenue in 2019. Growing energy requirements have resulted in an improved usage of storage batteries used in off-grid locations, which has directly impacted the demand for NaS batteries.
The Asia Pacific held a leading share in the global market in 2019. The growth of the market is ascribed to the growing demand for renewable energy storage units across the commercial and industrial sectors. Moreover, in 2019, Asia Pacific accounted for over 47% of the global investments in renewable sources of energy. The growing investments across the region are driven by the government authorities in the countries that are putting more effort to surge renewable sources of energy. The presence of many manufacturers in Japan and South Korea is also likely to support regional market growth. Moreover, potential industries across India, Malaysia, Thailand, and Singapore are likely to create high demand for such batteries in the upcoming years.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 78.23 million |
| Revenue Forecast by 2030 | USD 482.53 million |
| Growth rate from 2022 to 2030 | CAGR of 22.4% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Application, product, region |
| Companies Covered | NGK INSULATORS, LTD.; BASF SE; Tokyo Electric Power Company Holdings, Inc.; EaglePicher Technologies; General Electric; FIAMM Group; KEMET Corporation; POSCO; Sieyuan Electric Co., Ltd. |
Product Insights
On the basis of the product, the market is segregated into private portable and industrial batteries. The industrial product segment accounted for 81.96% share of the total revenue in 2021 owing to the growing demand for sodium Sulphur batteries in industrial and grid storage locations as they offer high-energy density solutions. Hence, the demand for sodium Sulphur batteries across the industrial sectors is likely to upsurge with the intensifying need for storage and power backup.
The private portable product segment is expected to expand at a CAGR of 28.54% from 2022 to 2030. The adoption of NaS batteries in portable devices is expected to grow at a significant rate owing to low maintenance properties and higher energy densities of the batteries. High demand for consumer electronics is expected to propel the segment growth.
Application Insights
On the basis of application, the market is segregated as ancillary services, load leveling, renewable energy stabilization, and others. The Others application segment held the largest share of 33.0% in 2019. The ancillary services application segment is expected to register a CAGR of 30.72% from 2022 to 2030. Ancillary service is required to maintain reliable, secure, and safe transmission of energy on the grid areas. The load levelling application segment is expected to emerge as the fastest-growing segment over the forecast period.
The renewable energy stabilization segment is projected to witness substantial growth in the years to come. Sodium Sulphur batteries are used as energy storage batteries to support renewable energy generation, mainly in solar generation and wind farms. The battery energy storage system has a significant influence on creating rapid decarbonization for energy usage purposes. The battery energy storage systems provide stability services to various mini-grids, facilitate a surge in the potential share of variable renewable sources of energy in such grid areas, and improve the power quality.
Regional Insights
The Asia Pacific accounted for the largest revenue share of 68.31% in 2021 and is expected to witness significant growth during the projected period. Rising investments in expanding electricity generation capacities, along with growing demand for electrification in rural areas, will foster the demand for storage batteries across the Asia Pacific region, leading to increasing demand for sodium Sulphur batteries.
Japan leads the global adoption of sodium Sulphur batteries with over 170 MW of installed capacity by 2021. Sustained industrialization across major economies in the region has led to an increasing emphasis on grid stability and dependable electricity generation. As a result, sodium Sulphur batteries are gradually being deployed to provide ancillary services with proper frequency regulation. Rising efforts to lessen the carbon footprint by enhancing renewable source energy infrastructure will further boost the market growth.
Europe is likely to witness noteworthy growth in the years to come on account of increasing demand for NaS batteries. Technological advancements in terms of cost-effectiveness, enhanced efficiency, and product innovation are projected to boost the regional market growth. Stringent emission norms by the governments of developed countries, such as the U.K. and the U.S., coupled with rising attention toward fuel efficiency, are projected to drive the market.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Sodium Sulphur Battery Market
5.1. COVID-19 Landscape: Sodium Sulphur Battery Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Sodium Sulphur Battery Market, By Application
8.1. Sodium Sulphur Battery Market, by Application, 2022-2030
8.1.1. Ancillary Services
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Load Leveling
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Renewable Energy Stabilization
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Sodium Sulphur Battery Market, By Product
9.1. Sodium Sulphur Battery Market, by Product, 2022-2030
9.1.1. Private Portable
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Industrial
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Sodium Sulphur Battery Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.2. Market Revenue and Forecast, by Product (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.2. Market Revenue and Forecast, by Product (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.2. Market Revenue and Forecast, by Product (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.2. Market Revenue and Forecast, by Product (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Product (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
Chapter 11. Company Profiles
11.1. NGK INSULATORS, LTD.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF SE
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Tokyo Electric Power Company Holdings, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. EaglePicher Technologies
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. GE Energy
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. FIAMM Group
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. KEMET Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. POSCO
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Sieyuan Electric Co., Ltd.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers