UK Sodium Sulfur Battery Market Size & Outlook, 2019-2027
UK sodium sulfur battery market, 2016-2027 (US$M)
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UK sodium sulfur battery market highlights
- The UK sodium sulfur battery market generated a revenue of USD 2.8 million in 2019 and is expected to reach USD 16.8 million by 2027.
- The UK market is expected to grow at a CAGR of 25.2% 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 2.8 million |
| Market revenue in 2027 | USD 16.8 million |
| Growth rate | 25.2% (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, UK accounted for 4.6% 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 Europe, UK sodium sulfur battery market is projected to lead the regional market in terms of revenue in 2027.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 12.0 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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UK 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 82.14% in 2019. Horizon Databook has segmented the UK sodium sulfur battery market based on private portable, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
The UK is committed in making use of renewable sources for energy storage. This is evident from the fact that nearly two-thirds of the country’s energy storage capacity is completely dedicated to renewable energy sources including sodium sulfur batteries.
Commencement of “Construction 2020” Action Plan will augment construction sector in the region. Efficiency improvements in existing buildings and renovations have the highest potential to stimulate demand; in addition, improving technologies will augment demand for power backup solutions.
Expected to boost the market demand over the forecast period. The UK sodium sulfur battery consumption is expected to grow at a steady rate courtesy growing demand for energy storage systems in this country. Growing demand for load levelling and ancillary services are expected to drive the market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK sodium sulfur battery market , including forecasts for subscribers. This country databook contains high-level insights into UK sodium sulfur battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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UK sodium sulfur batteries market size, by product, 2016-2027 (US$M)
UK Sodium Sulfur Battery Market Outlook Share, 2019 & 2027 (US$M)
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