NEW YORK, Jan. 22, 2024 /PRNewswire/ — The lithium-sulfur battery market size is expected to grow by USD 1.76 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 33.06% during the forecast period. Europe is projected to contribute 43% to the global Lithium-Sulfur Battery Market’s growth. North America, especially the United States, emerges as another promising region with significant growth potential. The increased utilization of drones, electric vehicles (EVs), and hybrids, coupled with a growing interest in renewable energy, fuels this expansion. The US, a major contributor to North America’s Li-S battery market revenue, experiences high drone and EV adoption, necessitating batteries with extended runtime. This dynamic fuels the rising adoption of Lithium-Sulfur (Li-S) batteries in North America, emphasizing their pivotal role in the region’s evolving energy landscape.
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The lithium-sulfur battery market is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified vendors. The global off-grid lithium-sulfur battery market is expected to grow rapidly during the forecast period due to the Harmful usage of lead batteries leads to higher adoption of Li-S batteries. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market’s competitive landscape and offers information on several market companies. Bettergy Corp., CIC energiGUNE, Gelion Technologies Pty Ltd., Giner Inc., Guang Dong Fullriver Industry Co. Ltd., Ilika PLC, Iolitec Ionic Liquids Technologies GmbH, LG Chem Ltd., Li-S Energy Ltd., Lyten Inc., Merck KGaA, NexTech Batteries, Poly Plus Battery Co., Rechargion Energy Pvt. Ltd., Shenzhen Uscender Industrial Co. Ltd., Sion Power Corp., Solid State PLC, TRU Group Inc., VTC Power Co. Ltd., and Zeta Energy LLC
- Bettergy Corp. – The company offers lithium-sulfur batteries with flexible ion conductive membranes.
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By Type
- The Lithium-Sulfur Battery Market’s high energy density segment is poised for substantial growth, driven by its pivotal role in electric vehicles (EVs) and grid storage applications. Batteries with higher energy density offer extended runtimes and reduced footprints, crucial for enhancing the driving range of EVs and enabling cost-effective grid energy storage. Particularly preferred in EVs, high-energy-density lithium-sulfur batteries are expected to dominate the market. With applications spanning Grid Storage, Large-scale energy storage, Portable Power for mobile applications, Aerospace Applications, High-energy requirements, and Battery Management Systems for performance optimization, the market is fostering technological breakthroughs while adhering to quality standards in the global market during the forecast period. It is estimated that the Electric Vehicles (EVs) will be a major potential application for Lithium Sulfur Battery.
- End-user segment is categorized as (aviation, automotive, and others)
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Imperative Insights on the following aspects:
- What was the size of the global lithium-sulfur battery market by value?
- What will be the size of the global lithium-sulfur battery market in 2027?
- How has the industry performed over the last 5 years?
- What factors are affecting the strength of competition in the global lithium-sulfur battery market?
- What main segments make up the global lithium-sulfur battery market?
Technological Challenges
Energy Density stands out as a key performance metric for lithium sulphur battery, offering the potential for higher storage capacity. Additionally, Cycle Life serves as a vital indicator of battery longevity. Challenges, including the Sulfur Shuttle Effect, are being addressed through cathode modifications and improved electrolytes. The ongoing evolution of Lithium-Sulfur cells signifies a promising shift towards enhanced energy storage, with researchers and industry players actively engaged in advancing this technology for widespread adoption.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
