An increase in preference toward sodium ion batteries majorly in the electrical and electronics industry has played a major role in the growth of the global sodium ion battery market. The abundance of sodium metal on the earth’s crust and its easy accessibility makes sodium ion batteries an ideal choice over the expensive lithium ion batteries. Owing to the high availability of sodium, the prices of the cathode and the electrolyte go down to about 50% of the total cost of the cell, thereby significantly reducing the overall price of the battery. Moreover, the depleting lithium resources along with the higher costs associated with the mining and processing of lithium have made the major companies to shift toward using sodium ion batteries. Furthermore, the processing of the sodium-based compounds can be done using the same equipment that is used during the processing of lithium ion materials, which favors the transition of the manufacturers toward sodium ion batteries. The higher availability of sodium metal plays a significant role in the sustainability of sodium ion batteries, thereby fulfilling the increasing demand for a stable source of power supply in the market. However, the presence of lithium ion batteries as alternative acts as a restraining factor for the market. Conversely, the need for a more sustainable and cheaper solution for the demand for power has proved to be a key factor driving the growth of the sodium ion battery market.
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The report includes an explicit breakdown of the major driving factors, market trends, major market players, and top investment pockets. It focuses on how recent technological encroachments have influenced the growth of the market. The state-of-the-art strategies implemented by the market players are also conferred in the report. Moreover, a depiction of how these players have assimilated several strategies to withstand the intense competition in the industry has put on immense value to the report.
It is highly essential to comprehend the widespread value chain to obtain a deep understanding of the market. To attain this, AMR accumulates data from the top administrators in the industry. Furthermore, technical data is congregated from the intellectual property standpoint, whereas technical drifts are assimilated from exhaustive assessments, technical conventions, and trade bulletins. This study confers an informative depiction of the global market along with the recent trends and future valuations to support the investment pockets. Porter’s five forces analysis, on the other hand, validates the influence of buyers & suppliers in the market. The report offers a detailed market study based on economical force and how the global competition will shape up in the near future.
The Sodium Ion Battery market is classified on the basis of segments such as type, application, and end user. Moreover, the report also contains a detailed regional analysis of the market.
The report takes in an analysis of the major market players active in the global Sodium Ion Battery market. It emphasizes the business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations incorporated by these market players to reinforce their position in the market. The market report takes account of statistics, tables, and charts to present a detailed study of the industry.
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Analysis of COVID-19 impact
The COVID-19 pandemic has impacted the global Sodium Ion Battery market negatively along with altering the entire market scenario. The report delineates the impact of the lockdown across the world and how the ban on international travel has disrupted the total value chain, thereby leading to a global crisis. The report also examines the post-COVID-19 scenario along with portraying how the rollout of mass vaccination programs by several government bodies is going to help the global Sodium Ion Battery market recoup soon.
KEY MARKET SEGMENTS
- Sodium-Sulfur Batteries
- Sodium-Salt Batteries (Zebra Batteries)
- Sodium-Oxygen (Sodium Air) Batteries
By Industry Vertical:
- Consumer Electronic Devices
- Automobile & Transportation
- Power Backup
- Grid-Level Applications
- Aerospace & Defense
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players:
AGM Batteries Ltd., Faradion Limited, Panasonic Corporation, Nrgtek Inc, Aquion Energy, Liaoning Hongcheng, Qintang New Energy, NGK, Zhejiang Lvming Energy (Durathon), HiNa Battery Technology
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