https://www.maximizemarketresearch.com/market-report/global-nas-battery-market/78362/
Global NaS battery market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12% during the forecast period.
Global NaS Battery Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
Sodium sulfur battery (NaS) is a type of battery which uses molten salts as an electrolyte and provides both a high power density and a high energy density. As the name indicates, it is designed by using liquid sodium (Na) and sulfur (S). It is widely used in the stationary energy storage applications.
Market Dynamics
The global NaS battery market has been seeing ample growth from past few years. In 2015, the NaS batteries were one of the most installed types of energy storage system in the globe. The growth of the market is primarily driven by its wide scale adoption in applications such as in renewable energy sources, grid supports, heavy machineries, transport applications and in various space applications. An increasing demand for renewable energy sources, growing adoption of smart grid projects across the globe, escalating demand for energy and power storage devices, rising urbanization and industrialization and increasing investments for infrastructure development are expected to improve growth of the market during the forecast period. In addition, NaS battery provides some benefits such as high efficiency of charge and discharge, high energy density, long life cycle and reduced fabrication cost owing to its inexpensive materials, which are ultimately propelling the growth of the market.
Nevertheless, requirement of a heat source for operational situations, thus, inability to use for residential applications is major restraining factor that could hamper the growth of the market.
Global NaS Battery Market: Segmentation Analysis
By application, grid and standalone systems segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. An increasing deployment of NaS batteries in standalone renewable energy and electric power grid applications is accredited to the growth of the market. NaS battery is one of the most common and potential energy storage technology to use in renewable power generation applications such as in solar generation plants and in wind farms. Additionally, surge in the adoption of NaS battery energy storage technology in applications such as in standby power supply and in load levelling, to ensure stable output for a long time and for smoothing instant variation of power output are expected to impel growth of the market during the forecast period. Furthermore, growing introduction of NaS batteries and rising developments in NaS battery technology to expand its performance range and to open up new market applications is likely to expand market growth in coming years.
For instance,
• In Nov 2019, NGK Insulators, Ltd and BASF New Business have expanded their active partnership to a joint development agreement (JDA) to develop next generation or advanced NaS batteries for stationary applications.
• In 2020, the researchers from the Indian Institute of technology (IIT) Madras, India have designed an advanced NaS battery to operate at room temperature.
Global NaS Battery Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The countries such as China, Japan, India and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing adoption of NaS batteries for utility applications across the region.
Increasing government initiatives and investments to expand electricity generation capacities, surge in the demand of electricity in rural areas, rising industrialization and urbanization in developing economies, growing installation capacity of NaS batteries in countries such as Japan, China and India and vast presence of various leading NaS battery manufacturing companies are driving the growth of the market in APAC region.
According to MMR study, at the present time, Tokyo Electric Power and NGK subsidiaries are the most prominent manufacturers of NaS batteries in the globe, which provides above 200 NaS battery storage systems with approximately more than 300 MW capacity. In addition, China based Shanghai Silicate Institute and the Shanghai Electric Power Company is making constant developments in a NaS battery technology with large capacity to use in various applications, which ultimately result into the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global NaS Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global NaS Battery Market dynamics, structure by analyzing the market segments and projects the Global NaS Battery Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global NaS Battery Market make the report investor’s guide.
Scope of Global NaS Battery Market
Global NaS Battery Market, By Application
• Grid and standalone systems
• Space
• Transport and heavy machinery
Global NaS Battery Market, By Region
• North America
US
Canada
• Europe
UK
France
Germany
Italy
Spain
Norway
Russia
• Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
• South America
Brazil
Mexico
Argentina
• Middle East and Africa
Global NaS Battery Market, Key Players
• KEMET Electronics Corporation
• NGK Insulators Ltd
• Ceramatec Inc
• Eagle Picher Technologies LLC
• GE Energy
• Sieyuan Electric Co. Ltd.
• FIAMM Group
• POSCO
• Tokyo Electric Power
• Shanghai Electric Power Company
• BASF SE
• XX
• XX
Global NaS battery market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12% during the forecast period.
Global NaS Battery Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
Sodium sulfur battery (NaS) is a type of battery which uses molten salts as an electrolyte and provides both a high power density and a high energy density. As the name indicates, it is designed by using liquid sodium (Na) and sulfur (S). It is widely used in the stationary energy storage applications.
Market Dynamics
The global NaS battery market has been seeing ample growth from past few years. In 2015, the NaS batteries were one of the most installed types of energy storage system in the globe. The growth of the market is primarily driven by its wide scale adoption in applications such as in renewable energy sources, grid supports, heavy machineries, transport applications and in various space applications. An increasing demand for renewable energy sources, growing adoption of smart grid projects across the globe, escalating demand for energy and power storage devices, rising urbanization and industrialization and increasing investments for infrastructure development are expected to improve growth of the market during the forecast period. In addition, NaS battery provides some benefits such as high efficiency of charge and discharge, high energy density, long life cycle and reduced fabrication cost owing to its inexpensive materials, which are ultimately propelling the growth of the market.
Nevertheless, requirement of a heat source for operational situations, thus, inability to use for residential applications is major restraining factor that could hamper the growth of the market.
Global NaS Battery Market: Segmentation Analysis
By application, grid and standalone systems segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. An increasing deployment of NaS batteries in standalone renewable energy and electric power grid applications is accredited to the growth of the market. NaS battery is one of the most common and potential energy storage technology to use in renewable power generation applications such as in solar generation plants and in wind farms. Additionally, surge in the adoption of NaS battery energy storage technology in applications such as in standby power supply and in load levelling, to ensure stable output for a long time and for smoothing instant variation of power output are expected to impel growth of the market during the forecast period. Furthermore, growing introduction of NaS batteries and rising developments in NaS battery technology to expand its performance range and to open up new market applications is likely to expand market growth in coming years.
For instance,
• In Nov 2019, NGK Insulators, Ltd and BASF New Business have expanded their active partnership to a joint development agreement (JDA) to develop next generation or advanced NaS batteries for stationary applications.
• In 2020, the researchers from the Indian Institute of technology (IIT) Madras, India have designed an advanced NaS battery to operate at room temperature.
Global NaS Battery Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The countries such as China, Japan, India and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing adoption of NaS batteries for utility applications across the region.
Increasing government initiatives and investments to expand electricity generation capacities, surge in the demand of electricity in rural areas, rising industrialization and urbanization in developing economies, growing installation capacity of NaS batteries in countries such as Japan, China and India and vast presence of various leading NaS battery manufacturing companies are driving the growth of the market in APAC region.
According to MMR study, at the present time, Tokyo Electric Power and NGK subsidiaries are the most prominent manufacturers of NaS batteries in the globe, which provides above 200 NaS battery storage systems with approximately more than 300 MW capacity. In addition, China based Shanghai Silicate Institute and the Shanghai Electric Power Company is making constant developments in a NaS battery technology with large capacity to use in various applications, which ultimately result into the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global NaS Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global NaS Battery Market dynamics, structure by analyzing the market segments and projects the Global NaS Battery Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global NaS Battery Market make the report investor’s guide.
Scope of Global NaS Battery Market
Global NaS Battery Market, By Application
• Grid and standalone systems
• Space
• Transport and heavy machinery
Global NaS Battery Market, By Region
• North America
US
Canada
• Europe
UK
France
Germany
Italy
Spain
Norway
Russia
• Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
• South America
Brazil
Mexico
Argentina
• Middle East and Africa
Global NaS Battery Market, Key Players
• KEMET Electronics Corporation
• NGK Insulators Ltd
• Ceramatec Inc
• Eagle Picher Technologies LLC
• GE Energy
• Sieyuan Electric Co. Ltd.
• FIAMM Group
• POSCO
• Tokyo Electric Power
• Shanghai Electric Power Company
• BASF SE
• XX
• XX
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