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Sodium-air Battery Market

Sodium-air Battery Market Growth 2023, Global Industry Share, Rising Trends, Key Players, Revenue, Challenges, Future Opportunities and Forecast Till 2033: SPER Market Research

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Lithium-ion batteries are currently employed in many different industries; sodium-air batteries are seen as possible substitutes for them. The Earth’s crust is rich in metals, including iron, zinc, aluminium, and other elements. As a result, several businesses in the energy storage sector are concentrating on the development of strong metal-air batteries through research and development.

According to SPER market research, ‘Sodium-air Battery Market Size- By Electrolyte, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Sodium-air Battery Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.

Sodium-air Battery Market size is projected to grow during the forecast period. The rising demand for electric vehicles is expected to drive this increase in market revenue. Furthermore, more people are paying attention because the government is providing subsidies for the purchase of electric vehicles. Because it is lightweight, porous carbon is also expected to be used more often in the cathode of sodium-air batteries. Nonetheless, aside from this, porous carbon is composition-designable and possesses a very precise surface area and pore structure.Therefore, it is anticipated that increased research and development efforts pertaining to the application of lightweight porous carbon in sodium-air battery cathodes will spur market expansion in the next years.

However, the lower energy density of sodium-ion batteries means that they can store less energy per unit weight when compared to other common batteries, such as lithium batteries. Its primary disadvantage is this. They also have a lower durability and effectiveness. It is therefore expected that during the projected period, this factor would limit the growth of the sodium-air battery market. In addition, the sodium-air battery is currently undergoing research and development, which means that its application is still uncommon. Nowadays, lead-ion and lithium-ion batteries play a big part, however they are expected to rise even more. A sodium ion battery’s ions are also heavier and less mobile in liquid electrolytes due to the fact that sodium is larger than lithium. Generally, the weight of lithium is three times that of sodium. As a result, this factor is expected to impede market expansion.

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The global sodium-air battery market was impacted by the COVID-19 epidemic in a number of ways. Disruptions in the supply chain hindered the production of battery components, resulting in a decrease in the overall supply. Decreased demand and possible financing divergence from clean energy technologies were caused by economic uncertainty. Funding cuts and lab closures hampered research and development efforts. But the pandemic also emphasised the need for robust energy storage options, which might spark long-term interest in sodium-air batteries. Sustained investment and support in the post-pandemic environment will be necessary to fully impact the market’s growth and acceptance.

Geographically, Europe is anticipated to hold the most market share. In the near future, the Asia Pacific market is anticipated to expand quickly. The need for sodium-air batteries in Asia Pacific is being driven by the growth of the electronics and transportation sectors, as well as the rising use of electric vehicles in emerging economies. North America’s market share is expected to increase in the coming years due to research and development in sodium-air batteries and increased attention on reaching net zero carbon emissions. The markets for sodium-air batteries are quite small in the Middle East and Africa and Latin America. Additionally, some of the market key players are De Nora Tech Inc., Ev Dynamics (Holdings) Limited, Faradion, Fuji Pigment Co., Ltd., Natron Energy, Phinergy, PolyPlus, Xinjiang Joinworld Co., Ltd., Others.

Sodium-air Battery Market Key Segments Covered

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Electrolyte: Based on the Electrolyte, Global Sodium-air Battery Market is segmented as; Aqueous, Non-aqueous.

By End User: Based on the End User, Global Sodium-air Battery Market is segmented as; Automotive, Consumer Electronics, Defense, Power, Utility Energy Storage, Others.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

For More Information, refer to below link:-

Sodium-air Battery Market Outlook

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