According to the latest report by IMARC Group, titled, “Sodium Sulfur Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global sodium sulfur battery market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during the forecast period (2021-2026).
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.
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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The report has segmented the market on the basis of Product Type, Distribution Channel, Packaging Type and Region.
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