Global Sodium Sulfur Battery Market – Overview
The global Sodium Sulfur Battery Market is estimated to expand at ~15.50% CAGR during the forecast period.
The global sodium sulfur battery Market is set to witness strong growth due technological advancements and expanded deployment of sodium sulfur batteries in the off-grid. Moreover, there are various applications where these batteries are used which include wind power stabilization and energy time shift, solar power stabilization and energy time shift, frequency control and energy time shift, renewable power supply system at off-grid, and high efficiency operation of diesel generator.
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The key players of global Sodium Sulfur Battery Market are NGK Insulators Ltd., KEMET Electronics Corporation, GE Energy Storage, Eagle Picher Technologies LLC, Ceramatec Inc., Sieyuan Electric Co., Ltd., FIAMM Group, and POSCO, among others.
Sodium sulfur battery is a type of molten-salt battery made from liquid sodium and sulfur. This type of battery possesses high energy density, high efficiency of charge or discharge and long-life cycle. This type of battery is fabricated from inexpensive materials. This type of battery is integrated in a sodium-sulfur battery system which is an energy storage system based on electrochemical charge/discharge reactions that occur between a positive electrode that is typically made of molten sulfur and a negative electrode that is made of molten sodium (Na). The major component of sodium sulfur battery system is elementary cell composed of electrodes, modules, battery systems composed of large assembling of modules and of a control system, and power conversion system (PCS). The major application areas for this type of battery include peak shaving, time shifting, and stabilization of wind farms and solar generation plants.
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The Sodium Sulfur Battery Market has been segmented based on power rating into 10 MW, 11-25 MW, 26-50 MW, and above 50 MW. 26-50 MW segment is leading the market as these batteries are increasingly gaining interest from the electric utilities as a grid energy storage solution for renewable energy sources. Moreover, these types of batteries possess a higher current density, longer cycle life, and simplified manufacturing scheme in large scale applications. According to United Nations Industrial Development Organization, the total current installed capacity of sodium sulfur batteries in Europe and North America was 37 MW and 20 MW respectively in 2018. All these factors will drive the market for this particular power rating during the forecast period.
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