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Sodium Sulfur Battery Market

Sodium Sulfur Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030

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

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