NaS Battery Market Report 2024 (Global Edition)

Global NaS Battery Market Report 2024 Market Size Split by Type (Ancillary Services, Load Levelling, Renewable Energy Stabilization), by Application (Grid and Standalone Systems, Space, Transport and ...

NaS Battery Market Report Description

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NaS Battery Market Insights Video

Competitive Landscape of the NaS Battery Market

The NaS (Sodium-Sulfur) battery market is evolving, with several key players contributing to its growth and competitiveness. The market is characterized by companies focused on energy storage solutions for large-scale and grid applications, with a particular emphasis on integrating renewable energy sources.

In July 2023, a subsidiary of SALA Corporation, SALA ENERGY CO., LTD., placed an order with NGK INSULATORS, LTD. for NAS batteries for electrical power storage, specifically for an energy storage facility. (Source: https://www.ngk-insulators.com/en/news/20230707_1.html)

Top Companies Market Share in NaS Battery Industry: (In no particular order of Rank)

• NGK INSULATORS
• LTD.
• BASF SE
• Tokyo Electric Power Company Holdings
• Inc.
• EaglePicher Technologies
• GE Energy
• FIAMM Group
• KEMET Corporation
• POSCO
• Sieyuan Electric Co.
• Ltd.
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the NaS Battery Market

Which Region Dominates the NaS Battery Market in 2024?

According to Cognitive Market Research, North America currently dominates the NaS Batteries market, and the region is expected to have significant growth during the projected period. The increasing emphasis on grid modernization, renewable energy integration, and the push for long-duration energy storage solutions will drive interest in NaS batteries, particularly for utility-scale projects.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia Pacific region's growing emphasis on grid stability and the integration of renewable energy sources is a major factor driving the growth of the NaS (Sodium-Sulfur) battery market. With nations like China, South Korea, and India progressively investigating the technology for large-scale energy storage, Japan continues to be a significant hub for the manufacture and deployment of NaS batteries.

The current report Scope analyzes NaS Battery Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America NaS Battery Market

According to Cognitive Market Research, the global NaS Battery market size was estimated at USD 82.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 33.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the NaS Battery market with a market size of USD 26.04 million in 2024 and is projected to grow at a CAGR of 12.2% during the forecast period. The U.S. market's favorable government support for the renewable energy sector.
• The Canada NaS Battery market had a market share of USD 3.96 million in 2024 and is projected to grow at a CAGR of 13.2% during the forecast period. Canada’s rising investment in advanced technology.
• The Mexico NaS Battery market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 3.00 million in 2024.

Europe NaS Battery Market

According to Cognitive Market Research, the global NaS Battery market size was estimated at USD 82.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 24.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031.

• The United Kingdom NaS Battery market had a market share of USD 4.16 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. In the UK, NaS Battery sales witness an upswing due to the increasing product innovation.
• The France NaS Battery market is projected to witness growth at a CAGR of 11.9% during the forecast period, with a market size of USD 2.28 million in 2024.
• According to Cognitive Market Research, the German NaS Battery market size was valued at USD 4.90 million in 2024 and is projected to grow at a CAGR of 12.9% during the forecast period. In Germany, the NaS Battery surged due to the Increased focus on renewable energy.
• The Italy NaS Battery market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 2.13 million in 2024.
• The Russia NaS Battery market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 3.84 million in 2024.
• The Spain NaS Battery market is projected to witness growth at a CAGR of 11.8% during the forecast period with a market size of USD 2.03 million in 2024
• The Luxembourg NaS Battery market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 0.77 million in 2024.
• The Portugal NaS Battery market is projected to witness growth at a CAGR of 12.5% during the forecast period, with a market size of USD 0.52 million in 2024.
• The Greece NaS Battery market is projected to witness growth at a CAGR of 13.0% during the forecast period, with a market size of USD 0.30 million in 2024.
• The Rest of Europe's NaS Battery market is projected to witness growth at a CAGR of 11.4% during the forecast period, with a market size of USD 3.84 million in 2024.

Asia Pacific NaS Battery Market

According to Cognitive Market Research, the global NaS Battery market size was estimated at USD 82.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 18.98 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.

• According to Cognitive Market Research, the China NaS Battery market size was valued at USD 8.54 million in 2024 and is projected to grow at a CAGR of 15.7% during the forecast period. NaS Battery surged in China due to the Increased focus of the manufacturers on advanced technology and major market players.
• The Japan NaS Battery market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 2.62 million in 2024.
• The India NaS Battery market had a market share of USD 2.28 million in 2024 and is projected to grow at a CAGR of 18.0% during the forecast period. India's rising growth of the solar industry.
• The South Korean NaS Battery market is projected to witness growth at a CAGR of 15.3% during the forecast period, with a market size of USD 1.90 million in 2024.
• The Australian NaS Battery market is projected to witness growth at a CAGR of 15.9% during the forecast period, with a market size of USD 0.99 million in 2024.
• The South East Asia NaS Battery market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD 1.31 million in 2024.
• The Rest of Asia Pacific NaS Battery market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 1.35 million in 2024.

South America NaS Battery Market

According to Cognitive Market Research, the global NaS Battery market size was estimated at USD 82.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 4.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil NaS Battery market size was valued at USD 1.77 million in 2024 and is projected to grow at a CAGR of 14.2% during the forecast period. NaS Batteries flourished in Brazil due to increasing demand for innovative battery solutions.
• Argentina's NaS Battery market had a market share of USD 0.69 million in 2024 and is projected to grow at a CAGR of 14.5% during the forecast period. Argentina's rising renewable sector.
• Colombia NaS Battery market is projected to witness growth at a CAGR of 13.4% during the forecast period, with a market size of USD 0.37 million in 2024.
• Peru NaS Battery market is projected to witness growth at a CAGR of 13.8% during the forecast period, with a market size of USD 0.34 million in 2024.
• Chile NaS Battery market is projected to witness growth at a CAGR of 13.9% during the forecast period, with a market size of USD 0.30 million in 2024.
• The Rest of Latin America's NaS Battery market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 0.66 million in 2024.

Middle East and Africa NaS Battery Market

According to Cognitive Market Research, the global NaS Battery market size was estimated at USD 82.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031..

• The GCC Countries NaS Battery market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 0.71 million in 2024. NaS Battery sales flourish due to the presence of major market players.
• The Egypt NaS Battery market is projected to witness growth at a CAGR of 14.2% during the forecast period, with a market size of USD 0.17 million in 2024.
• The South Africa NaS Battery market is projected to witness growth at a CAGR of 14.9% during the forecast period, with a market size of USD 0.26 million in 2024. NaS Battery sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey NaS Battery market is projected to witness growth at a CAGR of 13.4% during the forecast period, with a market size of USD 0.14 million in 2024.
• The Nigeria NaS Battery market is projected to witness growth at a CAGR of 13.0% during the forecast period, with a market size of USD 0.17 million in 2024.
• The Rest of the MEA NaS Battery market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 0.19 million in 2024.

NaS Battery Market Analysis

NaS Battery Market Type Segment Analysis

According to Cognitive Market Research, Renewable Energy Stabilization is likely to dominate the NaS Battery Market over the forecast period. NaS batteries provide several benefits, one of which is their extended storage capacity, which may often last up to eight hours. This is crucial for maintaining grid stability in areas where intermittent renewable energy sources, including wind and solar power, are widely used. The fluctuation of renewable energy is mitigated using NaS batteries, which store extra energy created during peak production periods and release it during periods of low generation or high demand. Thus, driving the market growth.

Ancillary Services is the fastest-growing segment in the NaS Battery Market. The demand for ancillary services rises as nations and utilities depend more on renewable energy, which is erratic by nature. To handle the intermittent nature of renewable energy sources, NaS batteries are being used more and more to support voltage, regulate frequency, and provide reserve power. In the market for NaS batteries, this is fueling growth in both demand and revenue.

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NaS Battery Market Application Segment Analysis

According to Cognitive Market Research, the Grid and Standalone Systems segment holds the largest share of the market. NaS batteries are becoming more and more necessary to offer grid stability, frequency management, and energy arbitrage as nations update their systems and expand their capacity for renewable energy. The need for NaS batteries is also being fueled by the numerous government incentives that are being offered for energy storage technologies that improve grid reliability.

In the NaS Battery Market, the Transport and Heavy Machinery sector has been expanding at a rapid pace. Global efforts to lower emissions and boost energy efficiency in the transportation and heavy machinery industries are driving up demand for innovative energy storage technologies like NaS batteries. The market for NaS batteries is anticipated to expand as more sectors transition to electrification.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion