According to the latest report by IMARC Group, titled, "Sodium Sulfur Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global sodium sulfur battery market is expected to exhibit a CAGR of 14.4% during 2022-2027.
Sodium Sulfur (NaS) battery is a high-temperature battery produced from liquid sodium and molten sulfur. These batteries consist of various subsystems, including interconnected cells, modules, control system, power conversion system (PCS), thermal management system, and an enclosure to maintain the temperature. NaS batteries offer high charge and discharge efficiency, high energy density, and a longlife-cycle on account of which they are used for stationary energy storage, such as transmission and distribution (T&D) networks and load leveling.
Market Trends:
The increasing demand for cost-effective solutions to store large amounts of energy for large-scale deployments is one of the key factors fueling the globalNaS battery market. Additionally, these batteries supply emergency power by supporting the integration of renewable energy sources, such as wind and solar, which is expanding their application in the industrial sector. Moreover, with rising environmental concerns, NaS batteries are increasingly being utilized for reducing the ecological load of grid-scale stationary energy storage, which is creating a positive outlook for the market.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The report has segmented the market on the basis of Product Type, Distribution Channel, Packaging Type and Region.
Breakup by Product:
- Private Portable
- Industrial
Breakup by Application:
- Ancillary Services
- Load Leveling
- Renewable Energy Stabilization
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape:
- BASF SE
- EaglePicher Technologies
- FIAMM Energy Technology S.p.A. (SHOWA DENKO K.K.)
- GE Energy Storage
- Kemet Corporation (Yageo Corporation)
- NGK Insulators Ltd.
- POSCO
- Sieyuan Electric Co. Ltd.
- Tokyo Electric Power Company Holdings Inc.
For more information about this report visit: https://www.imarcgroup.com/sodium-sulfur-battery-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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