Automotive Lithium-sulfur Battery Market: Introduction
- Lithium sulfur battery holds two times more energy per kilogram as compared to that held by other conventional lithium-ion batteries. Such batteries use lithium metal as an anode and carbon-sulfur as cathode that dissipates high energy density, and natural abundance of sulfur and high theoretical capacity further provides large battery storage capacity.
- Rising concerns about global warming are driving environment regulations and government incentives to increase production and sales of electric and hybrid electric vehicles, which in turn is anticipated to boost the automotive lithium-sulfur battery market during the forecast period
Key Drivers of Automotive Lithium-sulfur Battery Market
- Rise in demand for electric vehicles as well as other electric power driven transportation systems increases the use of the electric batteries for their mobility, which propels the automotive lithium sulfur battery market. Moreover, increasing government incentives for the development of electric and hybrid vehicles, in order to reduce carbon emissions from the vehicles, is expected to further boost the automotive lithium sulfur battery market. Furthermore, rising investments by major countries including the U.S., those in Europe, and China, among others, for using renewable energy resources, in order to control global warming, is projected to boost the automotive lithium sulfur battery market.
- Electric vehicles utilize battery with different power capacities for their movement, which further provides diverse vehicle travel time depending upon the storage capacity of a battery. Lithium sulfur batteries have large storage capacity, which makes them an ideal solution for electric vehicles. Moreover, lithium sulfur batteries are likely to be widely adopted by consumers and original equipment manufacturers (OEM) instead of conventional lithium batteries, which in turn is anticipated to further fuel the automotive lithium sulfur battery market.
Challenges in Automotive Lithium-sulfur Battery Market
- Lithium sulfur requires more cost for its production as compared to other conventional lithium-ion batteries, and it also has more complex working mechanism, which are considered as restraining factors for market growth. Moreover, the COVID-19 pandemic affected automotive as well as other industrial sectors across the globe. Research & development, manufacturing, procurement and other activities were stopped, which impacted the electric vehicle production and consequently, hampered the market.
Opportunities in Automotive Lithium-sulfur Battery Market
- Increase in investment by private organizations and government associations for the development of advanced, higher energy density and more capacity batteries for electric and electric hybrid vehicles is also expected to propel the automotive lithium sulfur battery market during the forecast period. Moreover, battery manufacturers and electric and hybrid vehicle manufacturers are focusing on strategies to capture several opportunities to enhance the travel range of electric vehicles. The lithium sulfur battery offers more travel range, as compared to other lithium batteries, which is estimated to boost their adoption during the forecast period.
- Governments across the globe are offering several incentives and subsidies on purchase of electric vehicles and manufacturing and distribution of its parts, in order to boost electric vehicle production. This is anticipated to drive the automotive lithium sulfur battery market.
Automotive Lithium-sulfur Battery Market in North America to Expand Significantly
- Popularity of electric vehicles is increasing in North America and across the globe, as production costs of electric and electric hybrid vehicles have been decreasing. Charging infrastructure across the globe is being deployed, and governments are also enacting several regulations and norms in order to reduce vehicle emissions. North America is spending significantly on the development of advanced EV battery solutions, which is attributed to its dominance in the global automotive lithium sulfur battery market. The region also witnessed rapid innovation in energy storage equipment and monitoring that further boosts the demand for lithium sulfur batteries. Moreover, the lithium sulfur battery market in Asia Pacific is also estimated to expand considerably, due to rising demand and adoption for electric and hybrid vehicles in the region. Furthermore, China witnessed highest sales for electric vehicles, which is expected to boost the market in Asia Pacific at a rapid pace during the forecast period.
Key Players Operating in Automotive Lithium-sulfur Battery Market
The global automotive lithium-sulfur battery market is highly consolidated. A few of the key players operating in the global automotive lithium-sulfur battery market are:
- Oxis Energy
- Sion Power
- Advanced Energy Materials
- Ilika PLC
- Johnson Matthey
- LG Chem
- Morrow Batteries
- NOHMs Technologies
- PolyPlus
- Williams Advanced
Global Automotive Lithium-sulfur Battery Market: Research Scope
Global Automotive Lithium-sulfur Battery Market, by Battery Capacity
- Less than 500 mAh
- Between 501 to 1000 mAh
- More than 1000 mAh
Global Automotive Lithium-sulfur Battery Market, by Propulsion
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
Global Automotive Lithium-sulfur Battery Market, by Vehicle Type
- Two-Wheeler
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicles
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Buses and Coaches
Global Automotive Lithium-sulfur Battery Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordic Region
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
