U.S. Sodium Sulfur Battery Market Size & Outlook
U.S. sodium sulfur battery market, 2016-2027 (US$M)
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U.S. sodium sulfur battery market highlights
- The U.S. sodium sulfur battery market generated a revenue of USD 3.8 million in 2019 and is expected to reach USD 38.9 million by 2027.
- The U.S. market is expected to grow at a CAGR of 33.6% 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 3.8 million |
| Market revenue in 2027 | USD 38.9 million |
| Growth rate | 33.6% (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, U.S. accounted for 6.4% 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 North America, U.S. sodium sulfur battery market is projected to lead the regional market in terms of revenue in 2027.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 38.9 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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U.S. 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 81.58% in 2019. Horizon Databook has segmented the U.S. sodium sulfur battery market based on private portable, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Robust manufacturing base and rapid growth of utility industry in the U.S. will augment demand for sodium sulfur battery over the upcoming years. In addition, government's stringent regulations on emission norms in order to safeguard the environment and to reduce the degradation-based options are expected to play a critical role in shaping the overall battery market.
The U.S. government initiated the Smart Grid Investment Grant (SGIG) program which focuses on the modernization of the nation’s electrical transmission and distribution systems. This program promotes investments in smart grid technologies by offering a federal financial assistance of up to 50% of eligible project costs. The growth in smart grids is expected to fuel the demand for sodium sulfur batteries.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. sodium sulfur battery market , including forecasts for subscribers. This country databook contains high-level insights into U.S. sodium sulfur battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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U.S. sodium sulfur batteries market size, by product, 2016-2027 (US$M)
U.S. Sodium Sulfur Battery Market Outlook Share, 2019 & 2027 (US$M)
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