Overview and Scope
The lithium-sulfur batteries are used for efficient electric transportation in various devices such as in power backups, satellites, drones, military vehicles, and others. Lithium-sulfur batteries have the potential for serving as promising next-generation rechargeable and high energy density batteries due to the high gravimetric energy, reduced raw materials cost, light-weight, improved safety characteristics, non-toxicity, the low environmental burden associated with the cell materials, and high sustainability of sulfur which is abundant in nature.
Sizing and Forecast
The lithium sulfur batteries market size has grown exponentially in recent years. It will grow from $0.54 billion in 2023 to $0.69 billion in 2024 at a compound annual growth rate (CAGR) of 27.2%. The growth in the historic period can be attributed to reduced environmental impact, aerospace and defense, government initiatives, research and development, grid energy storage.
The lithium sulfur batteries market size is expected to see exponential growth in the next few years. It will grow to $1.72 billion in 2028 at a compound annual growth rate (CAGR) of 25.6%. The growth in the forecast period can be attributed to space exploration, sustainable sourcing, green shipping, energy access initiative, energy transition. Major trends in the forecast period include advancements in electrode materials, lightweight battery solutions, advancements in electrode materials, hybrid battery solutions, green data centers.
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Segmentation & Regional Insights
The lithium sulfur batteries market covered in this report is segmented –
1) By Type: Low Energy Density Lithium Sulfur Battery, High Energy Density Lithium Sulfur Battery
2) By Power Capacity: 0-500mAh, 501-1000 mAh, Above 1000 mAh
3) By Application: Aviation, Automotive, Electronics, Power Sectors, Other Applications
North America was the largest region in the lithium sulfur batteries market in 2023. The regions covered in the lithium sulfur batteries market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rising government investment in electric vehicles is significantly driving the growth of the lithium sulfur batteries market. Through subsidies, investment, and other legislative mechanisms, governments are promoting the development and uptake of electric vehicles. Lithium-sulfur (Li-S) batteries are largely considered the most promising battery technology for electric vehicles in the future (EV). The results of the environmental impact evaluation show that Li-S batteries are more environmentally friendly than traditional NCM-Graphite batteries, with a 9% to 90% minimum impact. For instance, according to CNBC, a US-based television business news channel report, in January 2021, Biden, the president of the United States, has pledged to fund $400 billion in clean energy, particularly battery technology and electric vehicles. Part of the strategy includes allocating government funds to assist electric vehicles, with 500,000 new charging stations expected by 2030. Therefore, the rising government investment in electric vehicles is expected to propel the growth of the lithium sulfur batteries market going forward.
Key Industry Players
Major companies operating in the lithium sulfur batteries market include A123 Systems LLC, Amicell Industries Co. Ltd., Enerdel Inc., SouthWest Electronic Energy (SWE) Group, Quallion LLC, Valence Technology Inc., EEMB Battery Co. Ltd., Panasonic Corporation, Exide Group, Johnson Controls International plc, SANYO Energy (Japan) Corporation, Ener1 Inc., Sion Power Corporation, Toshiba Corporation, Uniross Batteries S.A., Automotive Energy Supply Corporation (AESC), GS Yuasa International Ltd., Hitachi Chemical Co. Ltd., LG Chem Ltd., Tesla Inc., Daegu Gyeongbuk Institute of Science and Technology (DGIST), Dalian Institute of Chemical Physics (DICP), OXIS Energy Ltd., PolyPlus Battery Company Inc., Morrow Batteries AS, Ilika plc, NOHMs Technologies Inc., Williams Advanced Engineering Limited, Targray, Nexeon Limited, NanoGraf Corporation, ProLogium Technology Co. Ltd., Echion Technologies Ltd., Li-S Energy Limited, Sulfurcell GmbH, LiNa Energy Ltd., Nanocs Inc.
The lithium sulfur batteries market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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