The energy storage industry is one of the biggest and growing industries in the world. Energy storage systems are increasingly used in the modern power system infrastructure to address the challenges associated with rising power demand, power outages, and backup power. Currently, most electric vehicles across the globe are powered by lithium-ion batteries. However, there are some aspects or sectors which are not addressed by the current lithium-ion battery technologies, such as long range, low cost, and high-utilization transportation market. In addition, an increase in demand for high-capacity energy storage systems from grid-scale and stationary applications is anticipated to fuel the demand for advanced battery systems such as sulfur-based batteries in the future.
There has been a recent push in the advanced battery technology industry toward the electrification of automotive applications. The deployment of high range and battery with high capacity in the electric vehicle is being pushed by government bodies and EV companies all over the world. Electric vehicles can revolutionize the current transportation setup and can achieve sustainability goals and efficiency by manifolds. Increased subsidies offered to consumers on purchasing electric vehicles is a great solution to the low adoption of these EV’s in the current scenario. This is expected to push the adoption of electric vehicles, thereby increasing R&D and advanced battery production across the globe
Read Report Overview: Sulfur-Based Battery Market
The global sulfur-based battery market was valued at $517.4 million in 2021, which is expected to grow with a CAGR of 17.69% and reach $2,669.9 million by 2031. The growth in the global sulfur-based battery market is expected to be driven by an increase in investment toward renewable power generation, battery energy storage systems, and EV charging station infrastructure across the globe.
Market Drivers and Challenges in the Global Sulfur-Based Battery Market
A major factor driving the sulfur-based battery market is the increase in government initiatives and support toward the electrification of automotive applications. Government initiatives increase awareness of electric vehicles and the benefits of these battery-driven vehicles over conventional petrol and diesel engines.
One of the major challenges in the growth and development of the global sulfur-based battery market is the low battery life cycle offered by the currently developed lithium-sulfur batteries. In addition, advancements in lithium-ion batteries are further anticipated to fuel the growth of the market in the coming years
Global Sulfur-Based Battery Market (by Product)
Based on products, lithium-sulfur and sodium-sulfur have been included in this market study. Lithium-sulfur battery is expected to register the highest growth rate during the forecast period. The sodium-sulfur segment registered the highest market share in the year 2021 and is expected to maintain its dominance during the forecast period. This is owing to the commercial availability of sodium-sulfur batteries across the globe.
Global Sulfur-Based Battery Market (by Application)
The application segment for the sulfur-based battery market includes stationary energy storage, automotive energy storage, consumer electronics, and aerospace and defense. The batteries offered by manufacturers come with different specifications, which gives these consumers a wide choice range in the said applications.
Global Sulfur-Based Battery Market (by Region)
The global sulfur-based battery market is expected to grow significantly in the forecast period. One of the primary drivers for the high growth rate of the market is the increased government initiatives and subsidies to promote awareness of battery energy storage systems. Thus, the sulfur-based battery market is expected to have a huge presence in the Asia-Pacific and North America regions.
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Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
The top segment players leading include key sodium-sulfur and lithium-sulfur battery manufacturers in the market and the ones engaged in the research and development of sulfur-based batteries across the globe.
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Bharat Book Bureau Provides the Trending Market Research Report on “Lithium-Sulfur Battery Market - Global Outlook and Forecast 2021-2027” under Energy Market Research Reports Category.
The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.Global Lithium-Sulfur Battery Market Revenue, 2016-2021, 2022-2027, ($ millions)Global Lithium-Sulfur Battery Market Sales, 2016-2021, 2022-2027, (K Units)Global top five Lithium-Sulfur Battery companies in 2020 (%)The global Lithium-Sulfur Battery market was valued at 113.5 million in 2020 and is projected to reach US$ 842.8 million by 2027, at a CAGR of 65.1% during the forecast period.MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Lithium-Sulfur Battery manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:Global Lithium-Sulfur Battery Market, By Type, 2016-2021, 2022-2027 ($ Millions) & (K Units)Global Lithium-Sulfur Battery Market Segment Percentages, By Type, 2020 (%)Low Energy Density Lithium Sulfur BatteryHigh Energy Density Lithium Sulfur BatteryGlobal Lithium-Sulfur Battery Market, By Application, 2016-2021, 2022-2027 ($ Millions) & (K Units)Global Lithium-Sulfur Battery Market Segment Percentages, By Application, 2020 (%)AviationAutomotiveOthersGlobal Lithium-Sulfur Battery Market, By Region and Country, 2016-2021, 2022-2027 ($ Millions) & (K Units)Global Lithium-Sulfur Battery Market Segment Percentages, By Region and Country, 2020 (%)North AmericaUSCanadaMexicoEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesBeneluxRest of EuropeAsiaChinaJapanSouth KoreaSoutheast AsiaIndiaRest of AsiaSouth AmericaBrazilArgentinaRest of South AmericaMiddle East & AfricaTurkeyIsraelSaudi ArabiaUAERest of Middle East & AfricaCompetitor Analysis The report also provides analysis of leading market participants including:Key companies Lithium-Sulfur Battery revenues in global market, 2016-2021 (Estimated), ($ millions)Key companies Lithium-Sulfur Battery revenues share in global market, 2020 (%)Key companies Lithium-Sulfur Battery sales in global market, 2016-2021 (Estimated), (K Units)Key companies Lithium-Sulfur Battery sales share in global market, 2020 (%)Further, the report presents profiles of competitors in the market, key players include:OXIS EnergySion PowerPolyPlusBrowse our full report with Table of Content :https://www.bharatbook.com/report/881652/lithium-sulfur-battery-market-global-outlook-and-forecastAbout Bharat Book Bureau:Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,80,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases.
Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.Contact us at:Bharat Book BureauTel: +91 22 27810772 / 27810773Email: [email protected]: www.bharatbook.com
