Market Research Future (MRFR) reports that the global sodium sulfur battery market is anticipated to achieve a CAGR of 15.50% during the forecast period (2016-2023).

The global sodium sulfur market is mainly driven by the growing demand from the utilities sector and is likely to be driven over the forecast period by the increasing government efforts being directed at full electrification and maintenance of a stable electric grid nationwide. The global demand for sodium sulfur batteries has mainly grown due to the growing demand for energy storage devices that can store energy for a long period of time and can discharge it as needed.

Global Sodium Sulfur Battery Market Leading Players analyzed are:

Top players in the worldwide sodium sulfur battery market include Eagle Picher Technologies LLC, Sieyuan Electric Co. Ltd., POSCO, Ceramatec Inc., NGK Insulators Ltd., FIAMM Group, GE Energy Storage, KEMET Electronics Corporation, among others.

Market Segmentation

The global sodium sulfur battery market has been categorized depending on the power rating and application.

With respect to the power rating, the market can be split into up to 10 MW, 11-25 MW, 26-50 MW, and above 50 MW. 26-50 MW segment happens to be the leading the market since these batteries enjoy strong demand in electric utilities. Also, such batteries have a longer cycle life, a higher current density, as well as simplified manufacturing scheme in large scale applications.

Considering the application, the sodium sulfur battery market includes grid and standalone systems, space, transport and heavy machinery. Grid and standalone systems stand out as the leading segment in the market, given the high use of electric utilities in developing countries that are trying to adapt to the decentralized way of generating power.

Regional Insight

All the aspects of the global sodium sulfur battery market have been analyzed, with respect to the main regions of North America, the Middle East and Africa (MEA), South Africa, Asia Pacific, and Europe.

In 2017, APAC was identified as the prime market for sodium sulfur battery and is estimated to maintain its position in the following years. The phenomenal market growth in the region is the result of the rising need for renewable energy storage systems in the industrial, residential and commercial end-use applications.

In North America, intensifying demand of power as well as ecofriendly energy storage, expanding population and surging infrastructure investments are some of the significant factors enhancing the growth of the sodium sulfur battery market.

The sodium sulfur battery market in Europe is predicted to have considerable growth over the forecast period owing to constant technological innovations and burgeoning demand for energy storage applications.

Browse Summary of Sodium Sulfur Battery Market Research Report at: [FURL=https://www.marketresearchfuture.com/reports/sodium-sulfur-battery-market-7284]https://www.marketresearchfuture.com/reports/sodium-sulfur-battery-market-7284[/FURL]