The Global Lithium-Sulfur Battery market is growing at an astronomical rate owing to the factors such as burgeoning demand for Lithium-Sulfur battery in the electrification of short-range aircraft, rising demand for electric vehicles worldwide and escalating commercial adoption of Lithium-Sulfur cells in the aviation sector. Besides this, snowballing application in grid-scale energy storage, electrification of road transportation along with increasing adoption of Lithium-Sulfur batteries in consumer electronics such as smartphones are the factors projected to fuel the growth of the market in the forecast period.
Key questions answered in the study
According to MarkNtel Advisors’ research report “Global Lithium-Sulfur Battery Market Analysis, 2021”, the market is anticipated to grow at a CAGR of 13% during 2021-26. Based on the Application, the Automotive segment is projected to surge at the highest CAGR in the forecast period during 2021-26. The application of Lithium-Sulfur batteries is high among electric vehicle as these are great for energy storage systems due to their low cost and high energy density. The growing environment concern worldwide has shifted the focus from internal combustion engines vehicle to electric vehicle in order to reduce emission level from transportation and an increasing the need to adopt green technologies. Besides this, surging road electrification and an increase in the sales of electric vehicle in the coming years are expected to promulgate the demand for Lithium-Sulfur batteries in the forecast period.
“Global Lithium-Sulfur Battery Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Lithium-Sulfur Battery providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired the Majority Market Share
North America acquired the highest market share in Global Lithium-Sulfur Battery Market in 2019. The US dominated the North America region and is expected to maintain its dominance over the forecast period. Transportation is a major generator of greenhouse gases, thus this accentuates the need for more electric vehicle in the country. The rising production and adoption of EV have accelerated the demand for lithium-sulfur batteries. Apart from this, rising government inclination towards renewable energy, surging investments in electric vehicles and a surging requirement for high energy storage due to escalating adoption of electric aircraft are the factors predicted to bolster the growth of the Lithium-Sulfur Battery market in the forecast period as stated in MarkNtel Advisors’ research report “Global Lithium-Sulfur Battery Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Lithium-Sulfur Battery market are A123 Systems LLC, Automotive Energy Supply Corporation, GS Yuasa International Ltd., Hitachi Chemical Co., Ltd., Johnson Controls International PLC, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co., Ltd., Tesla, Inc., Toshiba Corporation etc.