NaS Battery Market size was US$ 75.5 Mn in 2022 and is expected to reach US$ 166.9 Mn by 2029, at a CAGR of 12% during the forecast period.NaS Battery Market Definition
Sodium sulfur battery (NaS) is a type of battery which uses molten salts as an electrolyte and provides both a high power density and a high energy density. As the name indicates, it is designed by using liquid sodium (Na) and sulfur (S). It is widely used in the stationary energy storage applications.To know about the Research Methodology :- Request Free Sample Report The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
NaS Battery Market Dynamics
The global NaS battery market has been seeing ample growth from past few years. In 2015, the NaS batteries were one of the most installed types of energy storage system in the globe. The growth of the market is primarily driven by its wide scale adoption in applications such as in renewable energy sources, grid supports, heavy machineries, transport applications and in various space applications. An increasing demand for renewable energy sources, growing adoption of smart grid projects across the globe, escalating demand for energy and power storage devices, rising urbanization and industrialization and increasing investments for infrastructure development are expected to improve growth of the market during the forecast period. In addition, NaS battery provides some benefits such as high efficiency of charge and discharge, high energy density, long life cycle and reduced fabrication cost owing to its inexpensive materials, which are ultimately propelling the growth of the market. Nevertheless, requirement of a heat source for operational situations, thus, inability to use for residential applications is major restraining factor that could hamper the growth of the market.NaS Battery Market: Segmentation Analysis
By application, grid and standalone systems segment dominated the market in 2022 and is projected to witness fast growth at a CAGR of xx% during the forecast period. An increasing deployment of NaS batteries in standalone renewable energy and electric power grid applications is accredited to the growth of the market. NaS battery is one of the most common and potential energy storage technology to use in renewable power generation applications such as in solar generation plants and in wind farms. Additionally, surge in the adoption of NaS battery energy storage technology in applications such as in standby power supply and in load levelling, to ensure stable output for a long time and for smoothing instant variation of power output are expected to impel growth of the market during the forecast period. Furthermore, growing introduction of NaS batteries and rising developments in NaS battery technology to expand its performance range and to open up new market applications is likely to expand market growth in coming years. For instance, • In Nov 2020, NGK Insulators, Ltd and BASF New Business have expanded their active partnership to a joint development agreement (JDA) to develop next generation or advanced NaS batteries for stationary applications. • In 2020, the researchers from the Indian Institute of technology (IIT) Madras, India have designed an advanced NaS battery to operate at room temperature.Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2022 and is expected to maintain its dominance at a CAGR of xx% during the forecast period. The countries such as China, Japan, India and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing adoption of NaS batteries for utility applications across the region. Increasing government initiatives and investments to expand electricity generation capacities, surge in the demand of electricity in rural areas, rising industrialization and urbanization in developing economies, growing installation capacity of NaS batteries in countries such as Japan, China and India and vast presence of various leading NaS battery manufacturing companies are driving the growth of the market in APAC region. According to MMR study, at the present time, Tokyo Electric Power and NGK subsidiaries are the most prominent manufacturers of NaS batteries in the globe, which provides above 200 NaS battery storage systems with approximately more than 300 MW capacity. In addition, China based Shanghai Silicate Institute and the Shanghai Electric Power Company is making constant developments in a NaS battery technology with large capacity to use in various applications, which ultimately result into the growth of the market. The objective of the report is to present a comprehensive analysis of the Global NaS Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global market dynamics, structure by analyzing the market segments and projects the Global NaS Battery Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global NaS Battery Market make the report investor’s guide.Scope of Global NaS Battery Market: Inquire before buying
Global NaS Battery Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 75.5 Mn. Forecast Period 2023 to 2029 CAGR: 12% Market Size in 2029: US $ 166.9 Mn. Segments Covered: by Application Grid and standalone systems Space Transport and heavy machinery NaS Battery Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Players are:
1. KEMET Electronics Corporation 2. NGK Insulators Ltd 3. Ceramatec Inc 4. Eagle Picher Technologies LLC 5. GE Energy 6. Sieyuan Electric Co. Ltd. 7. FIAMM Group 8. POSCO 9. Tokyo Electric Power 10.Shanghai Electric Power Company 11.BASF SE Frequently Asked questions 1. What is the market size of the Global NaS Battery Market in 2022? Ans. The market size Global market in 2022 was US$ 75.5 Billion. 2. What are the different segments of the Global NaS Battery Market? Ans. The Global market is divided into Application. 3. What is the study period of this market? Ans. The Global market will be studied from 2022 to 2029. 4. Which region is expected to hold the highest Global NaS Battery Market share? Ans. The Asia Pacific dominates the market share in the market. 5. What is the Forecast Period of Global NaS Battery Market? Ans. The Forecast Period of the market is 2023-2029 in the market.
Global NaS Battery Market 1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global NaS Battery Market Size, by Market Value (US$ Bn) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 5. Supply Side and Demand Side Indicators 6. Global NaS Battery Market Analysis and Forecast 6.1. NaS Battery Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global NaS Battery Market Analysis and Forecast, By Application 7.1. Introduction and Definition 7.2. Key Findings 7.3. NaS Battery Market Value Share Analysis, By Application 7.4. NaS Battery Market Size (US$ Bn) Forecast, By Application 7.5. NaS Battery Market Analysis, By Application 7.6. NaS Battery Market Attractiveness Analysis, By Application 8. Global NaS Battery Market Analysis, by Region 8.1. NaS Battery Market Value Share Analysis, by Region 8.2. NaS Battery Market Size (US$ Bn) Forecast, by Region 8.3. NaS Battery Market Attractiveness Analysis, by Region 9. North America NaS Battery Market Analysis 9.1. Key Findings 9.2. North America NaS Battery Market Overview 9.3. North America NaS Battery Market Value Share Analysis, By Application 9.4. North America NaS Battery Market Forecast, By Application 9.4.1. Grid and Standalone Systems 9.4.2. Space 9.4.3. Transport and Heavy Machinery 9.5. North America NaS Battery Market Value Share Analysis, by Country 9.6. North America NaS Battery Market Forecast, by Country 9.6.1. U.S. 9.6.2. Canada 9.7. North America NaS Battery Market Analysis, by Country 9.8. U.S. NaS Battery Market Forecast, By Application 9.8.1. Grid and Standalone Systems 9.8.2. Space 9.8.3. Transport and Heavy Machinery 9.9. Canada NaS Battery Market Forecast, By Application 9.9.1. Grid and Standalone Systems 9.9.2. Space 9.9.3. Transport and Heavy Machinery 9.10. North America NaS Battery Market Attractiveness Analysis 9.10.1. By Application 9.11. PEST Analysis 9.12. Key Trends 9.13. Key Developments 10. Europe NaS Battery Market Analysis 10.1. Key Findings 10.2. Europe NaS Battery Market Overview 10.3. Europe NaS Battery Market Value Share Analysis, By Application 10.4. Europe NaS Battery Market Forecast, By Application 10.4.1. Grid and Standalone Systems 10.4.2. Space 10.4.3. Transport and Heavy Machinery 10.5. Europe NaS Battery Market Value Share Analysis, by Country 10.6. Europe NaS Battery Market Forecast, by Country 10.6.1. Germany 10.6.2. U.K. 10.6.3. France 10.6.4. Italy 10.6.5. Spain 10.6.6. Norway 10.6.7. Russia 10.6.8. Rest of Europe 10.7. Europe NaS Battery Market Analysis, by Country 10.8. Germany NaS Battery Market Forecast, By Application 10.8.1. Grid and Standalone Systems 10.8.2. Space 10.8.3. Transport and Heavy Machinery 10.9. U.K. NaS Battery Market Forecast, By Application 10.9.1. Grid and Standalone Systems 10.9.2. Space 10.9.3. Transport and Heavy Machinery 10.10. France NaS Battery Market Forecast, By Application 10.10.1. Grid and Standalone Systems 10.10.2. Space 10.10.3. Transport and Heavy Machinery 10.11. Italy NaS Battery Market Forecast, By Application 10.11.1. Grid and Standalone Systems 10.11.2. Space 10.11.3. Transport and Heavy Machinery 10.12. Spain NaS Battery Market Forecast, By Application 10.12.1. Grid and Standalone Systems 10.12.2. Space 10.12.3. Transport and Heavy Machinery 10.13. Norway NaS Battery Market Forecast, By Application 10.13.1. Grid and Standalone Systems 10.13.2. Space 10.13.3. Transport and Heavy Machinery 10.14. Russia NaS Battery Market Forecast, By Application 10.14.1. Grid and Standalone Systems 10.14.2. Space 10.14.3. Transport and Heavy Machinery 10.15. Rest of Europe NaS Battery Market Forecast, By Application 10.15.1. Grid and Standalone Systems 10.15.2. Space 10.15.3. Transport and Heavy Machinery 10.16. Europe NaS Battery Market Attractiveness Analysis 10.16.1. By Application 10.17. PEST Analysis 10.18. Key Trends 10.19. Key Developments 11. Asia Pacific NaS Battery Market Analysis 11.1. Key Findings 11.2. Asia Pacific NaS Battery Market Overview 11.3. Asia Pacific NaS Battery Market Value Share Analysis, By Application 11.4. Asia Pacific NaS Battery Market Forecast, By Application 11.4.1. Grid and Standalone Systems 11.4.2. Space 11.4.3. Transport and Heavy Machinery 11.5. Asia Pacific NaS Battery Market Value Share Analysis, by Country 11.6. Asia Pacific NaS Battery Market Forecast, by Country 11.6.1. China 11.6.2. India 11.6.3. Japan 11.6.4. South Korea 11.6.5. Australia 11.6.6. Malaysia 11.6.7. Indonesia 11.6.8. Rest of Asia Pacific 11.7. Asia Pacific NaS Battery Market Analysis, by Country 11.8. China NaS Battery Market Forecast, By Application 11.8.1. Grid and Standalone Systems 11.8.2. Space 11.8.3. Transport and Heavy Machinery 11.9. India NaS Battery Market Forecast, By Application 11.9.1. Grid and Standalone Systems 11.9.2. Space 11.9.3. Transport and Heavy Machinery 11.10. Japan NaS Battery Market Forecast, By Application 11.10.1. Grid and Standalone Systems 11.10.2. Space 11.10.3. Transport and Heavy Machinery 11.11. South Korea NaS Battery Market Forecast, By Application 11.11.1. Grid and Standalone Systems 11.11.2. Space 11.11.3. Transport and Heavy Machinery 11.12. Australia NaS Battery Market Forecast, By Application 11.12.1. Grid and Standalone Systems 11.12.2. Space 11.12.3. Transport and Heavy Machinery 11.13. Malaysia NaS Battery Market Forecast, By Application 11.13.1. Grid and Standalone Systems 11.13.2. Space 11.13.3. Transport and Heavy Machinery 11.14. Indonesia NaS Battery Market Forecast, By Application 11.14.1. Grid and Standalone Systems 11.14.2. Space 11.14.3. Transport and Heavy Machinery 11.15. Rest of Asia Pacific NaS Battery Market Forecast, By Application 11.15.1. Grid and Standalone Systems 11.15.2. Space 11.15.3. Transport and Heavy Machinery 11.16. Asia Pacific NaS Battery Market Attractiveness Analysis 11.16.1. By Application 11.17. PEST Analysis 11.18. Key Trends 11.19. Key Developments 12. Middle East & Africa NaS Battery Market Analysis 12.1. Key Findings 12.2. Middle East & Africa NaS Battery Market Overview 12.3. Middle East & Africa NaS Battery Market Value Share Analysis, By Application 12.4. Middle East & Africa NaS Battery Market Forecast, By Application 12.4.1. Grid and Standalone Systems 12.4.2. Space 12.4.3. Transport and Heavy Machinery 12.5. Middle East & Africa NaS Battery Market Value Share Analysis, by Country 12.6. Middle East & Africa NaS Battery Market Forecast, by Country 12.6.1. GCC 12.6.2. South Africa 12.6.3. Rest of Middle East & Africa 12.7. Middle East & Africa NaS Battery Market Analysis, by Country 12.8. GCC NaS Battery Market Forecast, By Application 12.8.1. Grid and Standalone Systems 12.8.2. Space 12.8.3. Transport and Heavy Machinery 12.9. South Africa NaS Battery Market Forecast, By Application 12.9.1. Grid and Standalone Systems 12.9.2. Space 12.9.3. Transport and Heavy Machinery 12.10. Rest of Middle East & Africa NaS Battery Market Forecast, By Application 12.10.1. Grid and Standalone Systems 12.10.2. Space 12.10.3. Transport and Heavy Machinery 12.11. Middle East & Africa NaS Battery Market Attractiveness Analysis 12.11.1. By Application 12.12. PEST Analysis 12.13. Key Trends 12.14. Key Developments 13. South America NaS Battery Market Analysis 13.1. Key Findings 13.2. South America NaS Battery Market Overview 13.3. South America NaS Battery Market Value Share Analysis, By Application 13.4. South America NaS Battery Market Forecast, By Application 13.4.1. Grid and Standalone Systems 13.4.2. Space 13.4.3. Transport and Heavy Machinery 13.5. South America NaS Battery Market Value Share Analysis, by Country 13.6. South America NaS Battery Market Forecast, by Country 13.6.1. Brazil 13.6.2. Mexico 13.6.3. Argentina 13.6.4. Rest of South America 13.7. South America NaS Battery Market Analysis, by Country 13.8. Brazil NaS Battery Market Forecast, By Application 13.8.1. Grid and Standalone Systems 13.8.2. Space 13.8.3. Transport and Heavy Machinery 13.9. Mexico NaS Battery Market Forecast, By Application 13.9.1. Grid and Standalone Systems 13.9.2. Space 13.9.3. Transport and Heavy Machinery 13.10. Argentina NaS Battery Market Forecast, By Application 13.10.1. Grid and Standalone Systems 13.10.2. Space 13.10.3. Transport and Heavy Machinery 13.11. Rest of South America NaS Battery Market Forecast, By Application 13.11.1. Grid and Standalone Systems 13.11.2. Space 13.11.3. Transport and Heavy Machinery 13.12. South America NaS Battery Market Attractiveness Analysis 13.12.1. By Application 13.13. PEST Analysis 13.14. Key Trends 13.15. Key Developments 14. Company Profiles 14.1. Market Share Analysis, by Company 14.2. Competition Matrix 14.2.1. Competitive Benchmarking of key players by price, presence, market share, Vehicles and R&D investment 14.2.2. New Product Launches and Product Enhancements 14.2.3. Market Consolidation 14.2.3.1. M&A by Regions, Investment and Vehicles 14.2.3.2. M&A Key Players, Forward Integration and Backward Integration 14.3. Company Profiles: Key Players 14.3.1. KEMET Electronics Corporation 14.3.1.1. Company Overview 14.3.1.2. Financial Overview 14.3.1.3. Product Portfolio 14.3.1.4. Business Strategy 14.3.1.5. Recent Developments 14.3.1.6. Development Footprint 14.3.2. NGK Insulators Ltd 14.3.3. Ceramatec Inc 14.3.4. Eagle Picher Technologies LLC 14.3.5. GE Energy 14.3.6. Sieyuan Electric Co. Ltd. 14.3.7. FIAMM Group 14.3.8. POSCO 14.3.9. Tokyo Electric Power 14.3.10. Shanghai Electric Power Company 14.3.11. BASF SE 15. Primary Key Insights