The worldwide sodium-ion battery market is anticipated to rise over the projected period due to an increase in research and development efforts as well as an increase in the commercialization of sodium-ion batteries. While sodium-ion batteries differ from lithium-ion batteries in several ways, they have not yet been widely adopted for commercial use. Over the forecast period, increased demand for electric vehicles is anticipated to fuel market expansion for sodium-ion batteries. Government efforts to electrify transportation to minimise carbon emissions from fuel have considerably increased the demand for EVs in recent years. A growth in the use of sodium-ion batteries is most likely to result from environmental concerns, as this technology promises larger capacity than conventional lithium-ion cells. Thus, it is anticipated that rising EV demand would fuel market expansion. During the course of the forecast period, the rise in demand for novel battery energy storage technologies is anticipated to present growth possibilities for market participants.
According to Coherent Market Insights, The market for Sodium-ion Batteries was estimated to be worth USD 275.1 million in 2021, and from 2022 to 2030, it is predicted to increase at a CAGR of 15.3%.
Prominent Companies in the Sodium-Ion Batteries Industry:
1. Natron Energy Inc.
The business was established in 2012, with its main office in Santa Clara, California, United States. A start up called Natron Energy creates sodium ion battery solutions using Prussian blue electrode materials. In May 2022, Natron Energy and Altris, respectively, announced the opening of new sodium-ion battery production facilities in the US and Sweden, with corresponding production beginning dates of 2023.
2. Faradion Limited
The business was established in 2010 and is based in Sheffield, United Kingdom. The business offers technology development services and produces stationary storage batteries as well as other materials for electric vehicles. Reliance New Energy Solar announced the acquisition of Faradion Ltd in December 2021. The first sodium-ion battery manufactured by Faradion was successfully installed at a trailhead in the Yarra Valley of New South Wales, Australia, in December 2022.
3. Altris AB
The business was established in 2017 and is based in Uppsala, Uppsala Sweden. Altris creates a brand-new sodium-ion battery cathode material that is fully composed of resources that are both plentiful and sustainable. Altris AB has reached an agreement with AB Sandvik Materials Technology to locate the business's first industrial scale manufacturing facility in Sandviken on May 3, 2022. Altris has been chosen to take part in an incredibly ambitious initiative that aims to electrify passenger transport in Sweden in April 2021.
4. AMTE Power PLC
The company’s headquarters are in United Kingdom, and it was established in 1997. The business produces lithium-ion batteries and provides them for a variety of industries, including automotive, aerospace, defence, oil and gas, and energy storage. AMTE Power plc is happy to announce that its customer will receive its first batch of Ultra Prime cells in March 2023 for testing. To support the next stage of its commercialization goals, AMTE Power inked a deal in October 2022 to have UKBIC in Coventry produce its Ultra High Power cells.
5. Contemporary Amperex Technology Co. Limited
The business was established in 2011 and is based in Ningde, Fujian, China. The business specialises in producing lithium-ion batteries for energy storage systems, electric vehicles, and battery management systems (BMS). CATL made the announcement that it would build a new battery facility in Debrecen, Hungary, in 2022.
6. NGK Insulators Ltd.
The business was founded in 1919 and has its headquarters in Nagoya, Japan. The business produces and sells electronic components, industrial ceramic goods, environmental systems, and electrical insulators. The logistics demonstration will start on February 6 at the Nagoya Central Wholesale Market Main Office, according to a January 2023 announcement from NGK Insulators, Ltd.
7. TIAMAT SAS
The business was founded in 2017 and has its headquarters in Amiens, France. The business creates, develops, and produces sodium-ion battery cells that are appropriate for use in mobility applications as an industrial battery manufacturer.
Definition: Sodium ions are used as charge carriers in the sodium-ion battery, a particular kind of rechargeable battery. Like lithium-ion batteries, it operates in a similar way. It is frequently included in small handheld electronic devices and is employed in a number of ways, including to power watches and GPS units.
