Sodium Sulfur Battery Market Worth to Outgrow by USD 477.52 MN By 2027
Posted On March 04, 2021
According to the research report by Value Market Research, the Global Sodium Sulfur Battery Market is likely to grow to USD 477.52 MN by 2027 with a CAGR of 29.6% during the year 2020-2027. The ever-increasing energy demands worldwide and the immediate need for a wide range of power storage capabilities will be the main motivators for the growth of the Sodium Sulfur Battery market. The growing use of storage devices that enable multiple devices to be connected due to their increased power capacity will provide an impetus for market growth. The growing deployment of NaS batteries to support the electric grid or stand-alone renewable power applications will benefit the market’s growth. The installation of many wind farms and solar generation plants to meet the energy demands and develop efficient storage systems in the residential and industrial sectors will boost the market growth. Intense research efforts being carried out to reduce fossil fuels and decrease global warming will enhance market growth. The rapidly expanding space market and growing demand for high energy density storage systems will provide lucrative market growth opportunities. The market’s main challenge is that these batteries can corrode the insulators when used in a harsh chemical environment.
A sodium-sulfur battery is a high-temperature battery used for stationary energy storage solutions. It is a molten-salt battery constructed from liquid sodium and sulfur. It is usually made in a cylindrical configuration with the entire cell enclosed by a steel casing. When used for commercial applications, the cells are encased in a vacuum insulated box and arranged in blocks for better heat conservation. High energy density, high efficiency of charge/discharge, and long cycle life are notable characteristics of this battery. Protecting the batteries from water and oxidizing atmospheres to avoid any safety hazards is crucial. It is fabricated from inexpensive materials. The battery is highly economical with increasing size.
"Global Sodium Sulfur Battery Market Report By Application (Ancillary Services, Load Leveling, Renewable Energy Stabilization, Others), By Product (Private Portable, Industrial) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of application the market is segmented into Ancillary Services, Load Leveling, Renewable Energy Stabilization, Others. By product the sodium sulfur battery market is categorised as Private Portable, Industrial. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Sodium Sulfur Battery is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Sodium Sulfur Battery Market -
- Ancillary Services
- Load Leveling
- Renewable Energy Stabilization
- Private Portable
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
NGK Insulators, LTD, Tokyo Electric Power Company Holdings, Inc., BASF SE, EaglePicher Technologies, FIAMM Group, GE Energy, KEMET Corporation, Sieyuan Electric Co., Ltd., POSCO.
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