Sodium Sulfur Battery Market Share 2021: Opportunities, Comprehensive Analysis
Market Highlights
Sodium sulfur batteries are made from abundant materials which are generally inexpensive. The typical design of the sodium sulfur battery involves a solid electrolyte membrane between anode and cathode encased in a steel cylinder protected with a chromium and molybdenum interior. Molten sodium at the heart of the cell serves as the anode that donates electrons to the external circuit. The sodium core is encased in a beta-alumina solid electrolyte cylinder which facilitates the movement of Na+ ions to the exterior sulfur electrode which serves as the cathode while preventing the two electrodes from shorting.
Based on application, sodium sulfur battery market is segmented into grid and standalone systems, space, transport and heavy machinery. Grid and standalone systems is estimated to dominate the market during the forecast period due to many electric utilities especially in the developing economies adapting the de-centralized way of generating power. Moreover, the electricity generated is majorly from renewable energy resources such as wind, solar, and hydro, among others. The key component of any isolated grid is the energy storage device. This has ultimately made the battery storage a popular choice among the utilities in the energy storage system. All these factors are likely to drive the sodium sulfur battery market.
The global Sodium Sulfur Battery Market is expected to grow at ~ 15.50% CAGR during the forecast period.
Market Research Analysis
Asia Pacific accounts for the largest market share in the Sodium Sulfur Battery Market
Region wise, Asia-Pacific held the largest market share of the global sodium sulfur battery Market in 2017. The growth of the market is attributed to the increasing demand for renewable energy storage system in the residential, commercial, and industrial end-use applications. Moreover, in 2016, Asia-Pacific contributed almost 47% in the global investments towards renewable energy. The increasing investments in the region are driven by many governments in the region who are ramping up their efforts to increase renewable energy in their overall energy mix.
Scope of the Report
This report provides an in-depth analysis of the global sodium sulfur batteries Market, two three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights sodium sulfur battery market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Sodium Sulfur Battery Market by its power rating, application, and by region.
By Power Rating
Up to 10 MW
11 MW-25 MW
26 MW-50 MW
Above 50 MW
By Application
Grid and Standalone Systems
Space
Transport and Heavy Machinery
By Region
North America
Asia-Pacific
Europe
Middle East & Africa
South Africa
Key Players
The key players of the global Sodium Sulfur Battery Market are NGK Insulators Ltd., KEMET Electronics Corporation, GE Energy Storage, Eagle Picher Technologies LLC, Ceramatec Inc., Sieyuan Electric Co., Ltd., FIAMM Group, and POSCO, among others.
Browse Complete Report @
https://www.marketresearchfuture.com/reports/sodium-sulfur-battery-market-7284
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Comments
Post a Comment