According to MarkNtel Advisors’ research report, “Global Lithium-Sulfur Battery Market Analysis, 2021,” the market is likely to grow at a CAGR of 72% during 2021-26 due to several factors, such as burgeoning demand for Lithium-Sulfur batteries 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, snowballing application in grid-scale energy storage, electrification of road transportation, and increasing adoption of Lithium-Sulfur batteries in consumer electronics like smartphones are other critical factors likely to fuel the market growth in the forecast period.
Key questions answered in the study
Based on the Application, the Automotive segment is likely to surge at the highest CAGR in the forecast period during 2021-26. The application of Lithium-Sulfur batteries is high among electric vehicles (EVs) as these are great for energy storage systems due to their low cost and high energy density. Moreover, the growing environmental concerns worldwide have shifted the focus from internal combustion engine vehicles to electric vehicles to reduce emission levels, thereby adopting green technologies. Besides, the surging road electrification and an increase in the sales of EVs are likely 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 competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Acquired the Majority Market Share
North America acquired the highest market share in Global Lithium-Sulfur Battery Market in the previous few years. In North America, the United States dominated the market and is likely to maintain its dominance over the forecast period. Transportation is the most prominent generator of greenhouse gases, and hence, this accentuates the need for more electric vehicles in the country. Moreover, the rising production & adoption of EVs have further accelerated the demand for Lithium-Sulfur batteries.
Additionally, the growing inclination of the government toward renewable energy and massive investments in electric vehicles are other critical aspects driving the sales of Lithium-Sulfur batteries in the region. Furthermore, the need for high energy storage due to the increasing adoption of electric aircraft is another factor likely to propel the overall market growth during the forecast period, reveals MarkNtel Advisors in their research report, “Global Lithium-Sulfur Battery Market Analysis, 2021.”
According to MarkNtel Advisors, the leading players with a considerable 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.