The Sodium-sulfur battery market is expected to grow from USD 238.5 Million in 2020 to USD 498.7 Million by 2028, at a CAGR of 9.72% during the forecast period. Introduction of sustainable energy fuels, thus, replacing natural gas or diesel fuels with renewable fuels, such as solar PV and wind, into microgrids, reducing the fuel consumption, rising demand of energy storage products for residential use, increasing need for convergence of the energy storage and microgrid technology markets, since they constitute an advanced battery for grid-tied and remote microgrid applications and rising prices of electricity, giving a path to the growth of battery-based energy storage systems for microgrids are some of the driving factors of the market.

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The power and energy industry is rapidly expanding in terms of revenue owing to constant demand for electricity across the globe. The global Sodium-sulfur battery market is expected to register robust revenue CAGR between 2020 and 2028. There has been a rapid increase in the power consumption across various verticals such as manufacturing, agriculture, IT & communication, healthcare, commercial and residential buildings. In addition, rapid industrialization and urbanization, increasing awareness about green energy, rising adoption of smart homes and smart buildings and increasing investments in development sustainable products are fueling market growth.

Further key findings from the report suggest

  • The Sodium-sulfur battery market is segmented by type into sodium-sulfur battery, VRLA lead acid, lithium-ion and others. The Lithium-ion batteries are expected to witness highest growth of approx. CAGR of 10.92% during the forecast period, since they are reliable, durable, light weight, highly efficient in terms of charge/discharge, as well as provides high energy and power density in terms of volume, and requires low maintenance needs.
  • The Sodium-sulfur battery market is segmented by application into household or residential, enterprise and utility. Utilities segment is expected to witness highest growth of CAGR 10.07% during the forecast period, since the segments suffers a lot of voltage and frequency deviations, which causes power fluctuations, damaging the equipment. To recover this issue, the utilities accommodate battery energy storage systems with the microgrids, which is also a cost-effective alternative to the conventional infrastructure.

Key players with in Sodium-sulfur battery market

  • NGK Group
  • Samsung SDI
  • NEC
  • Panasonic
  • MHI
  • Toshiba
  • S&C Electric
  • Beacon Power
  • CALMAC
  • Saft
  • Sumitomo Electric
  • EnSync

Key questions addressed in the global Sodium-sulfur battery market report:

  • What is the expected market size of the global Sodium-sulfur battery market during the forecast period?
  • What are the key restraints that are expected to hamper overall market growth between 2020 and 2028?
  • What key factors are expected to boost global Sodium-sulfur battery market revenue growth throughout the forecast period?
  • Which regional market is projected to account for largest revenue share over the forecast period?
  • Which regional market revenue is expected to expand at rapid CAGR during the forecast period?
  • Which key players are operating in the global Sodium-sulfur battery market?

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The report also offers details about each segment and major regions covered in the global Sodium-sulfur battery market.

Global Sodium-sulfur battery market segmentation:

Type Outlook:

  • Sodium-sulfur battery
  • VRLA Lead Acid
  • Lithium-ion
  • Others

 

Application Outlook:

  • Household or residential
  • Enterprise
  • Utility

 

Regional Outlook:

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • K.
    • Germany
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • Israel
    • Rest of MEA

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