Sodium Sulfur Battery Market is expected to witness moderate growth during the forecast period due to various applications where these batteries are used and have been an integral part of the entire power generation and distribution system. The global Sodium Sulfur Battery Market is expected to grow at 15.50 % CAGR during the forecast period.
Increasing renewable energy investment and reduction in cost owing to technological advancements and expanded deployment are some of the major factors driving the sodium sulfur battery market. In order to provide reliable and quick power supply to the households who are not connected to the national grid properly, the electric utilities are trying to connect these households with isolated grids which are standalone and are involved in small scale power generation of 10 kW to 10 MW and are usually deployed in rural areas. Such form of power generation is distribution is becoming popular in Southeast Asian region as the government have been attempting to improve the electrification rates in the Southeast Asian countries. Moreover, the electricity generated is majorly from renewable energy resources such as wind, solar, and hydro, among others. All these factors are likely to drive the sodium sulfur battery market.
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NGK Insulators Ltd., KEMET Electronics Corporation, GE Energy Storage, Eagle Picher Technologies LLC, Ceramatec Inc., Sieyuan Electric Co., Ltd., FIAMM Group, and POSCO
Sodium Sulfur Battery Market Segments Analysis:
The global sodium sulfur battery market has been segmented based on power rating, application, and region.
Based on power rating, the market is classified into up to 10 MW, 11-25 MW, 26-50 MW, and above 50 MW.
Based on application, the market is segmented into grid and standalone systems, space, transport and heavy machinery.
Geographically, the global sodium sulfur battery market has been segmented into five major regions such as Asia Pacific (APAC), Europe, North America, South America and Middle East & Africa.
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.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
List Of Tables
Table 1 Global Sodium Sulfur Battery Market, By Region, 2016-2023 (USD Million)
Table 2 North America Sodium Sulfur Battery Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Sodium Sulfur Battery Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Sodium Sulfur Battery Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Sodium Sulfur Battery Market, By Country, 2016-2023 (USD Million)
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
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