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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, 2021-2028
ID:VMR11214017
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Sodium Sulfur Battery Market Overview
The key driver impacting the sodium sulfur battery market is the increasing need for energy storage and power using sodium sulfur (NaS) batteries. For instance, as per the Environmental and Energy Study Institute, In 2017, 4 billion megawatt-hours (MWh) of electricity was generated in the United States, but had only 431 MWh of electricity storage availability. There is a huge investment in renewable energy generation projects, which is expected to boost market demand in the forecast period. The total investment is $286 billion on renewable energy development in 2015 according to the Climate Central Organisation. As per the Climate Policy Initiative’s Global Landscape of Climate Finance report 2019, climate finance flows attain a record high of USD 612 billion in 2017, driven chiefly by renewable energy capacity additions in the U.S, China, and India. Moreover, the growing usage of sodium sulfur batteries in several applications to offer a massive power to load with new regulations developing to support the ever-increasing energy needs is also estimated to be an important determinant that adds growth to the market.
The growing population and urbanization, leading to rising infrastructure investments, are predictable to enhance market demand in the forecast period. For instance, According to world bank estimations, By 2040, the global population will rise by almost 2 billion people, equivalent to a 25% rise, and the urban population increase by 46%. However, the high cost involved in inspection and sealing costs, and periodic maintenance, may hamper the global sodium sulfur battery industry in the long run. Also, installation in inaccessible places and protocols on distributed energy storage is negatively impacting the market.
The current industry trends, such as increasing demand for power and eco-friendly energy storage and continuous advancements in technology, are expected to provide beneficial market opportunities for the key market players in the coming years.
The sodium sulfur battery market is vast, with a large number of local and global players. The key leaders follow many strategies to boost their market position, such as extending product portfolio, acquisitions, expansions, mergers, and product innovations to make stronger their market share at the global scale. For instance, in 2019, BASF and NGK declared the expansion of their existing partnership to a joint development agreement (JDA) to build up next-generation sodium sulfur batteries. The important players included in the report are NGK INSULATORS, LTD, Tokyo Electric Power Company Holdings, Inc., BASF SE, EaglePicher Technologies, FIAMM Group, GE Energy, KEMET Corporation, Sieyuan Electric Co., Ltd.., POSCO.
In this research report, the sodium sulfur battery market is segmented by application, product, and region.
Analysis by Applications:
By applications, the report is categorized into ancillary services, load leveling, renewable energy stabilization, and others. Renewable energy stabilization dominates the application segment in 2019 with a maximum market share of 25%. It is due to the high usage of sodium sulfur batteries as energy storage batteries to support renewable energy generation, mostly in solar generation and wind farms. Moreover, NaS provides stability services to various mini-grids, facilitates a rise in the possible share of variable renewable sources of energy in such grid areas, and improves the power quality, contributing to the growth of the renewable energy stabilization segment in the forecast period.
Analysis by Product:
By product, the report is categorized into private portable and industrial. The industrial segment is estimated to show considerable growth in the forecast period. It is due to the expanding demand for sodium sulfur batteries in industrial and grid storage locations as they offer a high-energy-density solution. Moreover, there is an intensifying requirement for storage and power backup, which is expected to create demand across industries in the coming year.
Analysis by Region:
In the regional outlook of the global sodium sulfur battery market, the Asia Pacific region dominates with a maximum market share of 67.5% in 2019. It is due to the growing investments in expanding electricity generation capacities, together with rising demand for electrification in rural areas of countries such as China and India, as well as in South East Asia. Moreover, the increasing urbanization, industrialization, and growing pressure of energy conservation contribute to the sodium sulfur battery market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Application
The key driver impacting the sodium sulfur battery market is the increasing need for energy storage and power using sodium sulfur (NaS) batteries. For instance, as per the Environmental and Energy Study Institute, In 2017, 4 billion megawatt-hours (MWh) of electricity was generated in the United States, but had only 431 MWh of electricity storage availability. There is a huge investment in renewable energy generation projects, which is expected to boost market demand in the forecast period. The total investment is $286 billion on renewable energy development in 2015 according to the Climate Central Organisation. As per the Climate Policy Initiative’s Global Landscape of Climate Finance report 2019, climate finance flows attain a record high of USD 612 billion in 2017, driven chiefly by renewable energy capacity additions in the U.S, China, and India. Moreover, the growing usage of sodium sulfur batteries in several applications to offer a massive power to load with new regulations developing to support the ever-increasing energy needs is also estimated to be an important determinant that adds growth to the market.
According to Value Market Research, the global sodium sulfur battery market was valued at around USD 60 million in 2019 and is estimated to grow at a CAGR of about 29.6% during the forecast period of 2020-2026.
The growing population and urbanization, leading to rising infrastructure investments, are predictable to enhance market demand in the forecast period. For instance, According to world bank estimations, By 2040, the global population will rise by almost 2 billion people, equivalent to a 25% rise, and the urban population increase by 46%. However, the high cost involved in inspection and sealing costs, and periodic maintenance, may hamper the global sodium sulfur battery industry in the long run. Also, installation in inaccessible places and protocols on distributed energy storage is negatively impacting the market.
The current industry trends, such as increasing demand for power and eco-friendly energy storage and continuous advancements in technology, are expected to provide beneficial market opportunities for the key market players in the coming years.
The sodium sulfur battery market is vast, with a large number of local and global players. The key leaders follow many strategies to boost their market position, such as extending product portfolio, acquisitions, expansions, mergers, and product innovations to make stronger their market share at the global scale. For instance, in 2019, BASF and NGK declared the expansion of their existing partnership to a joint development agreement (JDA) to build up next-generation sodium sulfur batteries. The important players included in the report are NGK INSULATORS, LTD, Tokyo Electric Power Company Holdings, Inc., BASF SE, EaglePicher Technologies, FIAMM Group, GE Energy, KEMET Corporation, Sieyuan Electric Co., Ltd.., POSCO.
In this research report, the sodium sulfur battery market is segmented by application, product, and region.
Analysis by Applications:
By applications, the report is categorized into ancillary services, load leveling, renewable energy stabilization, and others. Renewable energy stabilization dominates the application segment in 2019 with a maximum market share of 25%. It is due to the high usage of sodium sulfur batteries as energy storage batteries to support renewable energy generation, mostly in solar generation and wind farms. Moreover, NaS provides stability services to various mini-grids, facilitates a rise in the possible share of variable renewable sources of energy in such grid areas, and improves the power quality, contributing to the growth of the renewable energy stabilization segment in the forecast period.
Analysis by Product:
By product, the report is categorized into private portable and industrial. The industrial segment is estimated to show considerable growth in the forecast period. It is due to the expanding demand for sodium sulfur batteries in industrial and grid storage locations as they offer a high-energy-density solution. Moreover, there is an intensifying requirement for storage and power backup, which is expected to create demand across industries in the coming year.
Analysis by Region:
In the regional outlook of the global sodium sulfur battery market, the Asia Pacific region dominates with a maximum market share of 67.5% in 2019. It is due to the growing investments in expanding electricity generation capacities, together with rising demand for electrification in rural areas of countries such as China and India, as well as in South East Asia. Moreover, the increasing urbanization, industrialization, and growing pressure of energy conservation contribute to the sodium sulfur battery market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Application
- Ancillary Services
- Load Leveling
- Renewable Energy Stabilization
- Others
- Private Portable
- Industrial
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . SODIUM SULFUR BATTERY – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Application
3.7.2 By Product
3.7.3 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL SODIUM SULFUR BATTERY MARKET ANALYSIS BY APPLICATION
6.1 Overview by Application
6.2 Historical and Forecast Data
6.3 Analysis by Application
6.4 Ancillary Services Market by Regions
6.6 Load Leveling Market by Regions
6.5 Renewable Energy Stabilization Market by Regions
6.7 Others Market by Regions
7 . GLOBAL SODIUM SULFUR BATTERY MARKET ANALYSIS BY PRODUCT
7.1 Overview by Product
7.2 Historical and Forecast Data
7.3 Analysis by Product
7.4 Private Portable Market by Regions
7.5 Industrial Market by Regions
8 . GLOBAL SODIUM SULFUR BATTERY MARKET ANALYSIS BY GEOGRAPHY
8.1. Regional Outlook
8.2. Introduction
8.3. North America
8.3.1. Overview, Historic and Forecast Data
8.3.2. North America By Segment
8.3.3. North America By Country
8.3.4. United State
8.3.5. Canada
8.3.6. Mexico
8.4. Europe
8.4.1. Overview, Historic and Forecast Data
8.4.2. Europe by Segment
8.4.3. Europe by Country
8.4.4. United Kingdom
8.4.5. France
8.4.6. Germany
8.4.7. Italy
8.4.8. Russia
8.4.9. Rest Of Europe
8.5. Asia Pacific
8.5.1. Overview, Historic and Forecast Data
8.5.2. Asia Pacific by Segment
8.5.3. Asia Pacific by Country
8.5.4. China
8.5.5. India
8.5.6. Japan
8.5.7. South Korea
8.5.8. Australia
8.5.9. Rest Of Asia Pacific
8.6. Latin America
8.6.1. Overview, Historic and Forecast Data
8.6.2. Latin America by Segment
8.6.3. Latin America by Country
8.6.4. Brazil
8.6.5. Argentina
8.6.6. Peru
8.6.7. Chile
8.6.8. Rest of Latin America
8.7. Middle East & Africa
8.7.1. Overview, Historic and Forecast Data
8.7.2. Middle East & Africa by Segment
8.7.3. Middle East & Africa by Country
8.7.4. Saudi Arabia
8.7.5. UAE
8.7.6. Israel
8.7.7. South Africa
8.7.8. Rest Of Middle East And Africa
9 . COMPETITIVE LANDSCAPE OF THE SODIUM SULFUR BATTERY COMPANIES
9.1. Sodium Sulfur Battery Market Competition
9.2. Partnership/Collaboration/Agreement
9.3. Merger And Acquisitions
9.4. New Product Launch
9.5. Other Developments
10 . COMPANY PROFILES OF SODIUM SULFUR BATTERY INDUSTRY
10.1. Company Share Analysis
10.2. Market Concentration Rate
10.3. NGK INSULATORS
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products
10.3.4. Recent Developments
10.4. LTD
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products
10.4.4. Recent Developments
10.5. Tokyo Electric Power Company Holdings, Inc.
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products
10.5.4. Recent Developments
10.6. BASF SE
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products
10.6.4. Recent Developments
10.7. EaglePicher Technologies
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products
10.7.4. Recent Developments
10.8. FIAMM Group
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products
10.8.4. Recent Developments
10.9. GE Energy
10.9.1. Company Overview
10.9.2. Financials
10.9.3. Products
10.9.4. Recent Developments
10.10. KEMET Corporation
10.10.1. Company Overview
10.10.2. Financials
10.10.3. Products
10.10.4. Recent Developments
10.11. Sieyuan Electric Co., Ltd.
10.11.1. Company Overview
10.11.2. Financials
10.11.3. Products
10.11.4. Recent Developments
10.12. POSCO.
10.12.1. Company Overview
10.12.2. Financials
10.12.3. Products
10.12.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Application (USD MN)
- Ancillary Services Market by Geography (USD MN)
- Load Leveling Market by Geography (USD MN)
- Renewable Energy Stabilization Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Analysis Market by Product (USD MN)
- Private Portable Market by Geography (USD MN)
- Industrial Market by Geography (USD MN)
- Global Sodium Sulfur Battery Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Sodium Sulfur Battery Report
- Market Research Process
- Market Research Methodology
- Global Sodium Sulfur Battery Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Application
- Market Attractiveness Analysis by Product
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Application (USD MN)
- Ancillary Services Market by Geography (USD MN)
- Load Leveling Market by Geography (USD MN)
- Renewable Energy Stabilization Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Global Market Analysis by Product (USD MN)
- Private Portable Market by Geography (USD MN)
- Industrial Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments