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Lithium-sulfur batteries are considered promising battery systems due to their high capacity, high energy density of sulfur, and its natural abundance. These batteries use carbon-sulfur as a cathode, which is a waste product of the petroleum process, and lithium metal is used at the anode. Lithium-sulfur batteries can be produced with more density compared to Li-ion batteries, owing to low atomic weight. Therefore, the lithium-sulfur batteries have more storage capacity. These batteries can be recharged, which acts as one of the major advantages. These advantages of rechargeability and high capacity have led these batteries to be adopted across various industries such as automotive, electrical, and manufacturing. These batteries are also used for some specific devices and equipment.
Based on the application, the lithium-sulfur battery market is segmented into automotive, aviation, electronics, power sector, and others. The aviation sector is expected to hold a lion share in the market owing to increased utilization of these across air transport. These are also deployed in airplanes for defense services, which requires high energy storage to operate.
The key market driver is the high energy storage capacity as compared to other available counterparts in the market. Other driving factors include the rechargeability of the battery and the growing adoption of renewable energy, which is expected to drive the demand for these batteries.
The key market restraint is the complex mechanism of the battery, which causes difficulty in the modeling of lithium-sulfur cells at both mechanistic and systems levels. Other factors that can hinder the market are the high manufacturing cost of the battery and increasing competition from lithium-ion batteries.
Key Market Driver -
High energystorage capacity as compared to other counterparts.
Key Market Restraint -
Complex operations and high manufacturing cost.
Some of the major companies in Lithium Sulphur Battery Market are OXIS Energy Ltd, PolyPlus Battery Company, and Sion Power Corporation.
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The global lithium-sulfur battery market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to lead the global lithium-sulfur battery market during the forecast period due to advancements brought in the energy & power sector and increasing trend of energy storage in countries like the United States and Canada. In Europe, lithium-sulfur for safe road electrification (LISA) project was launched to enable safe electrification of EV applications. Also, the project HELIS in Europe was launched for addressing the issues connected with the stability of lithium anode during cycling and about the cell implementation into commercial products. In the Asia Pacific region, the market is likely to expand at a rapid pace, owing to the rise in investments in electric vehicles and the need for electricity for operating industries like manufacturing and electricals, especially in China, Singapore, and India. Latin America and Middle East & Africa are expected to hold a significant share of the global lithium-sulfur battery market in the near future due to the increase in the awareness of renewable energy and upcoming projects, which will increase the use of these efficient batteries for energy storage.
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