Sodium is more abundant than lithium and has an almost infinite supply, with far lower overall extraction and purification costs. Thus, sodium-ion-based batteries are becoming more popular as a potentially competitive technology to Li-ion batteries in certain applications.
FREMONT, Calif., Sept. 30, 2022 /PRNewswire/ — BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Sodium-Ion Batteries Market – A Global and Regional Analysis.
According to this study, the market size of the global sodium-ion batteries market was valued at $528 million in 2021 and is projected to reach $4.36 billion by 2031.
The following factors are responsible for the increase in demand for sodium-ion batteries:
Rising renewable energy generation
Increasing research and development activities on sodium-ion batteries
The detailed…