Sodium-Ion Battery Market - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Sodium-Ion Battery Market As a widespread and affordable replacement for lithium-ion batteries, sodium-ion batteries have made their mark all over the world. Compared to lithium metal in lithium-ion batteries, sodium metal in sodium-ion batteries has a larger ionic radius, which results in fewer changes in the materials during electrochemical cycling and better stability than the lithium-ion battery. Excellent characteristics of sodium-ion batteries include low cost, energy densities, and power storage that are comparable to those of their competitors, safety due to better thermal stability, and exceptional cycle life. Typically, stationary applications are a better fit for sodium-ion batteries than mobile ones. The Sodium-Ion Battery Market was valued at USD 275.1 million in 2021, and from 2022 to 2030, it is projected to increase at a compound annual growth rate (CAGR) of 15.3%. The market for sodium-ion batteries is propelled by a number of factors, such as the expanding need