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.
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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.
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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.
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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.
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