The global sodium-ion battery market is gaining momentum as an alternative to lithium-ion batteries due to the depletion of lithium resources and the high costs associated with extraction and refining. Sodium ion batteries offer a cheaper option that is also efficient in operation. This change is driven by the increasing demand for electronic devices, such as computers, mobile phones and other digital gadgets, especially in developing countries.
The sodium ion battery market is expected to exceed $1.77 billion by 2024, with a compound annual growth rate (CAGR) of 23.9% during the forecast period. Advancements in smart buildings, smart cities, and smart infrastructure are also contributing to the growth of the sodium ion battery market. Furthermore, the development of the electric vehicle market is expected to further boost the market growth globally.
DG Innovate plc (LON:DGI) is an advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, using abundant materials and the best engineering and scientific practices. Deregallera is a subsidiary of DG Innovate.
