Sodium Sulfur Battery

  • Sodium sulfur battery, also known as NaS battery, is an energy storage battery that comprises sulfur as a positive electrode and sodium as a negative electrode. The electrolyte used is fine ceramics, which separates the electrodes.
  • The major components of the sodium sulfur battery include battery enclosures, battery modules, and a power conversion system (AC/DC power conversion system)
  • Sodium sulfur battery is highly effective to store large amounts of electrical energy. The battery is suitable in severe weather conditions, as the battery enclosure and insulated battery modules can resist diverse environmental conditions and climate.
  • Demand for sodium sulfur battery is likely to increase marginally in energy storage applications in industrial and renewable energy sectors in order to lower the usage of fossil fuels, which primarily contribute to pollution

Key Drivers of Global Sodium Sulfur Battery Market

  • Demand for sodium sulfur battery has been increasing across the globe owing to a rise in power and energy storage systems, increase in infrastructure investments, and surge in urbanization. Furthermore, rise of investments in renewable energy sources such as wind and solar is likely to increase the demand for sodium sulfur batteries, as these batteries have high storage capacities and can also store energy for long duration.

COVID-19 Impact

  • Manufacturers of batteries have been adversely affected by the COVID-19 pandemic. Numerous manufacturing companies have completely or partially shut their manufacturing plants. Decrease in global demand for batteries has hampered the demand and supply of sodium sulfur batteries.
  • Several battery suppliers have halted their operations owing to disruption in the supply of raw material and labor

Key Development

  • On January 07, 2020, BASF SE. and NGK INSULATORS, LTD. entered into a joint development agreement (JDA) to develop the next generation of sodium-sulfur batteries. The two companies aim to develop the next-generation of sodium-sulfur batteries, making use of BASF’s extensive chemistry expertise and NGK’s expertise in battery design and manufacturing. The project is expected to boost the performance range of NAS® batteries and thus open up new markets.

Europe to Hold Major Share of Global Sodium Sulfur Battery Market

  • Based on region, the global sodium sulfur battery market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Europe is anticipated to dominate the global sodium sulfur battery market in 2019, as the region is highly focusing on renewable energy sources and electric vehicles to reduce emissions. Rise of investments in renewable energy sources have fueled the demand for sodium sulfur batteries of power storage applications.
  • Asia Pacific is estimated to be a highly attractive region of the global sodium sulfur battery market during the forecast period. Increase in developments and investments in the renewable sector is likely to boost the demand for sodium sulfur batteries in energy storage systems. Countries in Asia Pacific such as China, Japan, and India are shifting to electric vehicles in order to reduce the pollution levels. Demand for consumer electronics and smart devices has been increasing in these countries. This is expected to further boost the sodium sulfur battery market in Asia Pacific.
  • North America is projected to account for a moderate share of the global sodium sulfur battery market, owing to an increase in the demand of energy storage systems in the region
  • The sodium sulfur battery market in Middle East & Africa and Latin America is estimated to expand at a healthy pace during the forecast period, owing to an increase in investments in the renewable energy sector in these regions

Key Players in Market

Leading companies operating in the sodium sulfur battery market include:

  • BASF SE
  • NGK INSULATORS, LTD.

Global Sodium Sulfur Battery Market: Research Scope

Global Sodium Sulfur Battery Market, by Application

  • Power plants
  • Substations
  • Industrial
  • Commercial
  • Residential
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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