![]() Europe is expected to dominate the market, with the majority of the companies commercializing the battery technology are located in the region. As the sodium-ion battery is an alternative with additional benefits, storing the energy of solar and wind, thus it is expected to have an opportunity with the growing solar and wind energy market. By 2050, solar PV, wind, and hydro, together, are estimated to produce approximately 80% of the global electricity generation. By 2030, solar, along with wind, is expected to produce more than 50% of the total generation in Australia, Germany, Mexico, and the United Kingdom. Wind and solar PV power are expected to drive strong growth in renewable energy, while hydro is likely to remain a key source. The amount of energy generated by renewable sources, such as solar and wind, is increasing, and energy stores are an essential process to ensure continuity of energy supply. Stationary Energy Storage is expected to be the one significant application of the sodium-ion battery. ![]() However, the non-matured technology of the battery is expected to hinder the market growth during the forecast period. ![]() Uses of sodium-ion batteries for electricity storage, generated through solar or wind create no air pollution. The primary driver of the market is the increasing demand for cleaner energy, with rising greenhouse gas emissions around the world. Sodium-ion battery is expected to be an alternative to the lithium-ion battery for energy storage, as it is much safer to use and is cheaper. The sodium-ion battery market is expected to grow at a CAGR of around 5% during the forecast period.
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