The latest market report published by Credence Research, Inc. is “Global Lithium Sulfur Battery Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Lithium Sulfur Battery Market generated revenue of around USD 528.5 million in 2021 and is anticipated to grow a CAGR of over 30.5% during the forecast period from 2022 to 2028 to reach around USD 2610.4 million in 2028.
A lithium-sulfur battery is a device that stores an electrical charge and is made of lithium and sulfur. These rechargeable batteries can be charged and used again after being discharged. The properties of lithium-sulfur batteries are notable. Some of the most important properties of lithium-sulfur batteries are high specific energy and low weight due to the low weight of lithium and sulfur. Lithium-sulfur batteries outperform lithium-ion batteries (another type of lithium battery) in terms of density and cost, as cobalt, which is used in lithium-ion batteries, is more expensive than sulfur. Lithium-sulfur batteries are used in the power, automotive, and electronic industries. Major factors driving the global market growth are rising demand for electric vehicles and the aviation industry, rising adoption of renewable energy, and increased R&D. However, the higher cost of lithium-sulfur batteries and the complicated manufacturing processes for these battery systems limits the market growth.
Browse Global Lithium Sulfur Battery Market report-https://www.credenceresearch.com/report/lithium-sulfur-battery-market
The global lithium-sulfur battery market is bifurcated into Application, Sales Channel, and Geography. Based on application, the market is categorized into aviation, automotive, electronics, power, and manufacturing. Based on sales channel, the global market is segmented into manufacturers/distributors/service providers and aftermarket. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global lithium-sulfur battery market in 2021 due to the region’s key companies, technological advancements, and expanding use of electric vehicles. Moreover, various government initiatives that promote electric mobility to reduce carbon emissions, combined with the widespread presence of electric vehicle manufacturers such as Tesla, have increased the demand for stable and low-cost battery packs across North America.
Why to Buy This Report-
- The report examines the global lithium-sulfur battery market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report includes information on the competitive landscape, such as how the market’s key players operate at the global, regional, and country levels.
- In-depth analysis of the global lithium-sulfur battery market segmentation by application and sales channel.
- The report contains comprehensive and authentic data for all factors, including CAGR, supply and demand, import-export statistics, consumer purchasing trends, and others.
- The lithium-sulfur battery market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Lithium Sulfur Battery Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|Segmentation|| By Sales Channel (2016–2028; US$ Mn)|
By Application (2016–2028; US$ Mn)
By Geography Segment (2016–2028; US$ Mn)