Sodium-air Battery Market Size

  • Report ID: 5334
  • Published Date: Oct 19, 2023
  • Report Format: PDF, PPT

Sodium-air Battery Market Size

Sodium-air Battery Market size is projected to reach USD 6 billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of sodium-air battery was around USD 2 billion. This growth in the market revenue is poised to be dominated by growing demand for electric vehicles. For instance, approximately 9 million electric cars were purchased in 2022 and this year it is set to expand at about 34% which equates to close to 13 billion electric vehicles. Hence, the demand for sodium-air batteries is estimated to rise. Moreover, the government is offering subsidies for the purchase of electric vehicles which has driven more attention from common people.

Additionally, the use of porous carbon in the cathode of sodium-air batteries is also set to grow owing to it being lightweight. However, besides this porous carbon has an exceptionally specific surface area and pore structure and is also composition-designable. Furthermore, porous carbon has outstanding mechanical and electrical qualities owing to the high electrical conductivity of carbon materials and their distinctive microstructure. Therefore, with the growth in manufacturing of lightweight porous carbon the market demand might grow but there is still more research to be done in this field. Hence, the rise in R&D activities in the utilization of lightweight porous carbon in the cathode of sodium-air battery is expected to expand market growth in the coming years.

Sodium Air Battery Market
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Author Credits:  Rajrani Baghel

  • Report ID: 5334
  • Published Date: Oct 19, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are requires low cost in production of sodium, rising construction of offshore wind power, rising construction of offshore wind power, surge in use of portable electronic gadgets, and surge in industry mobility.

The market size of sodium-air battery is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are IBM Corporation, Solid Power, Sion Power Corporation, Faradion, and others.

The utility energy storage segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
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