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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Contemporary Amperex Technology Co., Ltd. (CATL), a Chinese battery manufacturer and technology firm, CATL was established in 2011 and focuses on producing energy storage systems, lithium-ion batteries for electric vehicles, and battery management systems. The first generation of sodium-ion batteries from CATL provide a number of benefits including high energy density, quick charging, outstanding thermal stability, excellent low-temperature performance, and high integration efficiency.
Faradion Limited was established in 2011 to create and commercialise sodium-ion technology. One of the main components of the solution for less expensive, greener energy are its sodium-ion batteries, which are recognised as an emerging technology. They have a better energy density and a wider operating temperature range than conventional batteries, and are less expensive and safer than lithium-ion batteries.
Natron Energy, Inc. is one of the top developers and suppliers of long-life, high-power, and reasonably priced Prussian blue sodium ion battery solutions for critical power and industrial applications, including data centre UPS systems and electrically powered material handling equipment. With its corporate headquarters in the United States, the company sells office supplies and goods for transportation.
Other market players include HiNa Battery Technology Co., Ltd., Aquion Energy, SAS TIAMAT, and AMTE Power plc., among others.
Sodium Ion Battery Market Report Snapshots
Sodium Ion Battery Market Size
Sodium Ion Battery Market Analysis
Sodium Ion Battery Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 387.07 million.
The sodium ion battery market is projected to grow at a CAGR of 14.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,312.70 million by 2032.
The major drivers of the market include the growing demand for cleaner energy, increasing consumer demand for electronics, including smartphones and computers, easy availability of sodium ion batteries, growing deployment of battery energy storage systems, and growing number of solar and wind power projects.
The rising demand for electric vehicles and the increased focus on renewable energy sources are the key industry trends propelling the growth of the market.
The major players in the industry are Contemporary Amperex Technology Co., Ltd. (CATL), Faradion Limited, Natron Energy, Inc., HiNa Battery Technology Co., Ltd., Aquion Energy, SAS TIAMAT, and AMTE Power plc., among others.
Since sodium ion batteries are non-flammable and more resistant to temperature changes than lithium-ion batteries, they are safer and more effective than lithium-ion batteries.
Sodium batteries have high-power density, high efficiency of up to 90%, and a lengthy battery life of often over 10 years, making them highly durable.
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