Sodium-ion battery market to exceed a value of $16 billion by 2034

The market research report, titled ‘Sodium-ion Batteries 2024-2034: Technology, Players, Markets, and Forecasts’ looks into sodium-ion batteries and what this technology has to offer. The research company predicts that the sodium-ion battery market is to exceed a value of US$16 billion by 2034.

The report summarizes that sodium-ion batteries offer a safer environment when being transported or discharged. Since manufacturing sodium-ion batteries is similar to lithium-ion batteries, existing infrastructure and manufacturing can be used.

IDTechEx iterates that the ‘perfect battery’ is somewhat of a myth since diversification in the battery landscape is essential for long-term battery market growth as each type has its own desirable characteristics. The report states that diversification in energy storage is foreseeable.

The research company predicts that a compound annual growth rate (CAGR) of 40% will be seen over the upcoming twelve months for the sodium-ion battery market.

 IDTechEx’s report, “Sodium-ion Batteries 2024-2034: Technology, Players, Markets, and Forecasts”, is timely as one of the bigger players in the Sodium-ion battery space, Natron Energy today announced plans for a gigawatt scale manufacturing plant in North Carolina, USA.

Sodium-ion batteries are enjoying increasing attention internationally. Very recently, the world’s largest sodium-ion stationary storage site went online in China. In Germany, Twaice recently launched a Sodium-ion battery analysis tool. And in the USA, Natron Energy is not alone in the sodium-ion space. Earlier in 2024, US-based Acculon Energy announced the series production of its sodium-ion battery modules and packs for mobility and stationary energy storage applications, for which scaled production of 2 GWh is scheduled to start in mid-2024. The gigawatt scale sodium-ion battery plant announced by Natron Energy today has a planned capacity of 24 GW.