South Korea Sodium Sulfur Battery Market Size & Outlook
South Korea sodium sulfur battery market, 2016-2027 (US$M)
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South Korea sodium sulfur battery market highlights
- The South Korea sodium sulfur battery market generated a revenue of USD 3.3 million in 2019 and is expected to reach USD 22.3 million by 2027.
- The South Korea market is expected to grow at a CAGR of 27.1% from 2020 to 2027.
- In terms of segment, industrial was the largest revenue generating product in 2019.
- Industrial is the most lucrative product segment registering the fastest growth during the forecast period.
Sodium sulfur battery market data book summary
| Market revenue in 2019 | USD 3.3 million |
| Market revenue in 2027 | USD 22.3 million |
| Growth rate | 27.1% (CAGR from 2019 to 2027) |
| Largest segment | Industrial |
| Fastest growing segment | Industrial |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Private Portable, Industrial |
| Key market players worldwide | NGK Insulators Ltd, Basf SE, Tokyo Electron Ltd, GE Aerospace, Hitachi Ltd, POSCO Holdings Inc ADR, Yageo Corp ADR, Sieyuan Electric |
Other key industry trends
- In terms of revenue, South Korea accounted for 5.5% of the global sodium sulfur battery market in 2019.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, Japan sodium sulfur battery market is projected to lead the regional market in terms of revenue in 2027.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 265.2 million by 2027.
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Sodium Sulfur Battery Market Scope
Sodium Sulfur Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea sodium sulfur battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to sodium sulfur battery market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 81.82% in 2019. Horizon Databook has segmented the South Korea sodium sulfur battery market based on private portable, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
South Korea is one of the developed countries in the Asia Pacific region with constantly growing electronics and automobile industries. The South Korean government has made considerable efforts in order to foster the renewable energy market by providing incentives to enhance deployment of renewable energy in the country.
Growing demand for energy storage systems in the utility, power generation, and UPS applications have driven the sodium sulfur battery market in this country. The country is focused on reducing the consumption of fossil fuel energy by promoting green energy resources in the coming years.
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Target buyers of South Korea sodium sulfur battery market databook
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Our clientele includes a mix of sodium sulfur battery market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea sodium sulfur battery market , including forecasts for subscribers. This country databook contains high-level insights into South Korea sodium sulfur battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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South Korea sodium sulfur batteries market size, by product, 2016-2027 (US$M)
South Korea Sodium Sulfur Battery Market Outlook Share, 2019 & 2027 (US$M)
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