The global lithium sulfur battery market size reached US$ 1.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2032, exhibiting a growth rate (CAGR) of 27.88% during 2024-2032.
Images must be attributed to Mordor Intelligence. The Lithium Sulfur Battery Market is expected to reach USD 233 billion in 2024 and grow at a CAGR of 16.5% to reach USD 499.79 billion by 2029. GS Yuasa Corporation, LG Energy Solutions Ltd., Saft Groupe SA, Gelion PLC and Sion Power Corporation are the major companies operating in this market.
The presence of wide variety of applications of lithium sulfur battery in intensive power consuming sectors and huge investment from government and private sector to develop high energy density batteries for the military and aerospace industries will foster the growth of the lithium sulfur battery market.
The lithium-sulfur battery market is segmented by end user and geography. By end user, the market is segmented into aerospace, electronics, automotive, power sector, and other end users. The report also covers the size and forecasts for the lithium-sulfur battery market across major regions.
Overtake your competition with ease. The global Lithium-Sulfur Battery Market in terms of revenue was estimated to be worth $32 million in 2023 and is poised to reach $209 million in 2028, growing at a CAGR of 45.6% during the forecast period.
The aerospace sector dominates the lithium-sulfur battery market moving toward lower emission sources. The aerospace industry is progressively adopting lithium-sulfur batteries due to their superior energy density requirements which drives the lithium-sulfur battery market growth.