Lithium-sulfur Battery Market: Overview
Several technologies are gaining momentum in the energy storage market. One such energy storage technology is lithium-sulfur (Li-S) battery. The device can hold twice the energy per kilogram as conventional lithium-ion batteries. Lithium-sulfur batteries are considered promising battery systems due to their high theoretical capacity, high energy density, and natural abundance of sulfur. These batteries use carbon-sulfur as cathode and lithium metal as anode. Carbon-sulfur is a waste product of the petroleum process. Lithium-sulfur batteries can be produced with more density compared to Li-ion batteries, as sulfur has low atomic weight. Therefore, the lithium-sulfur batteries have more storage capacity.
The charge/discharge efficiency of lithium-sulfur battery lies in the range of 86% to 92%. Key driver of the lithium-sulfur battery technology is the high theoretical and practical energy density, which can be achieved by combining a lithium metal anode and sulfur cathode. There are some issues with this technology as well. Some of these can be resolved by improved engineering solutions. However, most of them are related to the very complex working mechanism of lithium-sulfur battery. For example, the complex reaction mechanism causes difficulty in the modelling of lithium-sulfur cells at both mechanistic and systems levels.
Lithium-sulfur Battery Market: Key Trends
The energy storage of even small size lithium-sulfur batteries is supposed to be more than five times that of the mostly used lithium-ion batteries. This has opened up opportunities in electronics and power sectors. Manufacturers are increasingly using nanotechnology in the production and development process of batteries, as it helps in the improvement of compatibility of power supplies. Usage of nanotechnology is one of the key trends expected to gain traction in the lithium-sulfur battery market during the forecast period. The nanotechnology-enabled battery market is witnessing growth due to the rise in focus on renewable energy and increase in adoption of hybrid electric vehicles (EVs), plug-in hybrid EVs, and EVs.
Lithium-sulfur Battery Market: Key Segments
Based on application, the lithium-sulfur battery market can be divided into automotive, electronics, power sector, manufacturing, and others. In automotive sector these batteries are used in hybrid and electric vehicles. Lithium-sulfur batteries are also used in electrical energy storage and mobile applications. These batteries are used in big solar panel grids for energy storage in the power sector. The others segment consists of defense systems and aeronautical equipment.
Lithium-sulfur Battery Market: Regional Outlook
Based on region, the global lithium-sulfur battery market can be segregated into North America, Europe, Latin America, Middle East & Africa, and Asia Pacific. North America is projected to lead the global lithium-sulfur battery market during the forecast period. The lithium-sulfur battery market in Asia Pacific is likely to expand at a rapid pace during the forecast period, due to the rise in investments in electric vehicles in the region, especially in China and India. Europe and Middle East & Africa are expected to hold significant share of the global lithium-sulfur battery market during the forecast period.
Lithium-sulfur Battery Market: Key Players
Major players operating in the global lithium-sulfur battery market are Oxis Energy, Poly Plus, and Sion Power. Lithium-sulfur battery systems designed, developed, and produced by OXIS are primarily used to provide power to aeronautical and defense applications as well as heavy electric vehicles.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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