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Sodium Sulfur Battery Market Size Is Estimated To Reach $480.4 Million By 2027 | Grand View Research, Inc.

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Sodium Sulfur Battery Market Size Is Estimated To Reach $480.4 Million By 2027 | Grand View Research, Inc.

December 27
18:05 2021
Sodium Sulfur Battery Market Size Is Estimated To Reach $480.4 Million By 2027 | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, growing demand for energy storage batteries and power supply across the globe is expected to boost the growth of the market.

The global sodium sulfur battery market size is expected to reach USD 480.4 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 29.6% from 2020 to 2027. The growing demand for energy storage batteries and power supply across the globe is expected to boost the growth of the market over the estimated period.

Sodium sulfur (NaS) batteries are pre-eminent by adding electrodes to increase their operational flexibility and lifespan. It also eliminates the hazards related to fire calamities. However, sodium sulfur batteries are hazardous and can catch fire easily when they meet moisture and air. Due to the highly corrosive nature, along with the high operating temperature of sodium polysulfide, these batteries are used in stationary applications, including grid energy storage.

The renewable energy stabilization application segment is projected to witness substantial growth over the upcoming years as NaS batteries are a possible energy storage technology to support renewable energy power generation, precisely solar and wind generation plants. Moreover, the growing integration of renewable energy sources, such as solar and wind, into the grid areas is projected to boost the growth of the renewable energy stabilization application segment. The industrial product segment accounted for 81.8% share of the global revenue in 2019. Growing energy requirements have resulted in an improved usage of storage batteries used in off-grid locations, which has directly impacted the demand for NaS batteries.

The Asia Pacific held a leading share in the global market in 2019. The growth of the market is ascribed to the growing demand for renewable energy storage units across the commercial and industrial sectors. Moreover, in 2019, Asia Pacific accounted for over 47% of the global investments in renewable sources of energy. The growing investments across the region are driven by the government authorities in the countries that are putting more effort to surge renewable sources of energy. The presence of many manufacturers in Japan and South Korea is also likely to support regional market growth. Moreover, potential industries across India, Malaysia, Thailand, and Singapore are likely to create high demand for such batteries in the upcoming years.

 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/sodium-sulfur-batteries-market

 

Sodium Sulfur Battery Market Report Highlights

  • The industrial product segment was valued at USD 49.23 million in 2019
  • The Asia Pacific is projected to grow at a substantial rate throughout the forecast period. Japan is expected to account for the maximum share in the Asia Pacific region in the years to come
  • In Europe, the industrial product segment dominated the industry and accounted for 81.8% share of the total revenue in 2019
  • The MEA is likely to witness moderate growth during the projected period.

 

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/sodium-sulfur-batteries-market/request/rs1

 

Sodium Sulfur Battery Market Segmentation

Grand View Research has segmented the global sodium sulfur battery market based on application, product, and region:

Sodium Sulfur Batteries Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Ancillary Services
  • Load Leveling
  • Renewable Energy Stabilization
  • Others

 

Sodium Sulfur Batteries Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Private Portable
  • Industrial

 

Sodium Sulfur Batteries Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
  • Asia Pacific
    • China
    • South Korea
    • Japan
  • Central & South America
    • Brazil
  • Middle East & Africa
    • South Africa

 

List of Key Players of Sodium Sulfur Battery Market

  • NGK INSULATORS, LTD.
  • BASF SE
  • Tokyo Electric Power Company Holdings, Inc.
  • EaglePicher Technologies
  • GE Energy
  • FIAMM Group
  • KEMET Corporation
  • POSCO
  • Sieyuan Electric Co., Ltd.

 

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/4444/ibb

 

Browse More Related Report:

Air Electrode Battery Market Size, Share & Trends Analysis Report By Battery Type (Primary, Secondary, Fuel Cell), By Application (Medical Devices, Transportation), By Region, And Segment Forecasts, 2020 – 2027

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/sodium-sulfur-batteries-market

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