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Lithium-Sulfur Battery Market size is set to grow by USD 3.92 billion from 2024-2028, Harmful usage of lead batteries leads to higher adoption of Li-S batteries boost the market, Technavio

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NEW YORK, July 4, 2024 /PRNewswire/ — The global lithium-sulfur battery market size is estimated to grow by USD 3.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  44.97%  during the forecast period. Harmful usage of lead batteries leads to higher adoption of li-s batteries is driving market growth, with a trend towards use of nanotechnology in batteries. However, increasing competition from fuel cell solutions  poses a challenge. Key market players include Bettergy Corp., CIC energiGUNE, Gelion Technologies Pty Ltd., Giner Inc., Guang Dong Fullriver Industry Co. Ltd., Ilika, Iolitec Ionic Liquids Technologies GmbH, LG Chem Ltd., Li-S Energy Ltd., Lyten Inc., Merck KGaA, NexTech Batteries, Poly Plus Battery Co., Rechargion Energy Pvt. Ltd., Shenzhen Uscender Industrial Co. Ltd., Sion Power Corp., Solid State PLC, TRU Group Inc., VTC Power Co. Ltd., and Zeta Energy LLC.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Lithium-Sulfur Battery Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 44.97%

Market growth 2024-2028

USD 3921.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

34.37

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 50%

Key countries

US, Germany, Canada, China, and India

Key companies profiled

Bettergy Corp., CIC energiGUNE, Gelion Technologies Pty Ltd., Giner Inc., Guang Dong Fullriver Industry Co. Ltd., Ilika, Iolitec Ionic Liquids Technologies GmbH, LG Chem Ltd., Li-S Energy Ltd., Lyten Inc., Merck KGaA, NexTech Batteries, Poly Plus Battery Co., Rechargion Energy Pvt. Ltd., Shenzhen Uscender Industrial Co. Ltd., Sion Power Corp., Solid State PLC, TRU Group Inc., VTC Power Co. Ltd., and Zeta Energy LLC

Market Driver

The global nanotechnology-enabled Lithium-Sulfur battery market is poised for growth due to the increasing adoption of electric vehicles (EVs), plug-in hybrid EVs, and hybrid EVs, as well as the focus on renewable energy sources. Since 2015, vendors have been developing nanostructured electrodes and electrolytes in Li-S batteries to enhance energy efficiency. These nanotechnology-enabled batteries are expected to offer energy densities three times higher than traditional Lithium-ion batteries. Notable innovations include the use of a silicon-carbon composite anode and a nanostructured lithium sulfide-carbon composite cathode. Ongoing projects, such as the Lithium-Sulfur Super battery Exploiting Nanotechnology (LISSEN) study, are further driving market growth during the forecast period. 

Lithium-sulfur batteries are gaining attention as the next big thing in clean energy solutions due to their energy-dense characteristics. This battery technology uses elemental sulfur as the cathode and lithium as the anode. However, challenges such as electrolyte stability, electrode architecture, and the polysulfide shuttle effect need to be addressed. Fossil fuels may soon face competition from these lightweight cells, which can power electric vehicles and portable electronics. Manufacturing challenges include lithium dendrite formation, material interactions, and production techniques. Lithium-ion manufacturing facilities are exploring solid-state lithium-sulfur batteries with solid electrolyte systems to overcome these issues. The power sector and large-scale energy storage are also potential markets for this technology due to its low-cost characteristics. Safety measures are crucial to ensure the safe production and use of these batteries. The EV market and EV technology stand to benefit significantly from this advancement. Aerospace, including satellites, is another sector that can benefit from the high power output of lithium-sulfur batteries. The anode and cathode in these batteries are crucial components, and improving their conductivity and volume expansion properties can lead to better battery performance. In summary, lithium-sulfur batteries are a promising clean energy solution for various industries, including electric vehicles, portable electronics, and the power sector. Addressing manufacturing challenges and ensuring safety measures are essential to bring this technology to the market. The potential benefits of this technology are significant, from reducing reliance on fossil fuels to powering the next generation of electric cars and aerospace technology. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

Fuel cells and Lithium-Sulfur batteries are two distinct technologies used to generate electricity. Fuel cells produce power through electrochemical reactions between hydrogen and oxygen, resulting in water and released electrons. These electrons flow through an external circuit to generate power. Fuel cells have a standard design with two electrodes separated by an electrolyte, enabling charged particles to move. Drones have gained popularity but face a limitation of short flight times. To overcome this challenge, manufacturers are exploring fuel cells as an alternative power source. Hydrogen, as a fuel for fuel cells, offers a higher energy density and longer runtime compared to Lithium-Sulfur batteries. Fuel cells can be refilled in minutes, while batteries take an hour to recharge. The global fuel cell market is growing due to its application in automotive and energy storage sectors, posing a hurdle for the expansion of the Lithium-Sulfur battery market during the forecast period.The Lithium-Sulfur (Li-S) battery market is gaining attention due to its potential to offer high energy density, making it suitable for power cell applications in various industries. However, challenges persist, such as the melting of the sulfur electrode at high temperatures. A German battery startup, Theron, is working on interlayers to address this issue. Li-S batteries have advantages over prior generations, including lower environmental impact and compatibility with renewable energy sources. They are being explored for use in drones, defence sector, personalized power, aviation, and outer space vehicles. The challenges of Li-S batteries include their low energy density and the need for solid-state batteries for commercialization. The defence sector, drone technology companies like DroneShield, and the aviation industry are exploring Li-S batteries for their applications. The coronavirus pandemic has accelerated the need for clean electricity and energy storage solutions, making Li-S batteries a promising option for powering portable electronic devices and charging stations. Li-S batteries use lithium ions and sulfur to store energy, with electrons flowing between the cathode (sulfur) and anode (lithium ions) during charging and discharging. Despite the challenges, the advantages of Li-S batteries make them a promising alternative to primary batteries and conventional fuels for various applications, including aircraft-installed equipment and renewable energy installations.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This lithium-sulfur battery market report extensively covers market segmentation by  

Type 1.1 High energy density1.2 Low energy densityEnd-user 2.1 Aviation2.2 Automotive2.3 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 High energy density-  Lithium-sulfur batteries (LSBs) are high-energy-density batteries that offer longer battery run time or a smaller footprint with the same energy output compared to batteries with lower energy density. This property makes them popular in electric vehicles (EVs), which require long driving ranges. LSBs have gained attention due to sulfur’s abundant availability, low cost, environmental friendliness, high specific capacity, and energy density. The European Commission estimates that LSBs will be used in EVs during the forecast period, making the high-energy-density segment of the LSB market a focus for growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Lithium-sulfur batteries represent a promising advancement in clean energy solutions, offering higher energy density compared to traditional lithium-ion batteries. This next-generation battery chemistry utilizes lithium as an anode and sulfur as a cathode. However, challenges remain, including electrolyte stability, electrode architecture, and the polysulfide shuttle effect. These issues can lead to lithium dendrite formation and degradation of battery performance. Despite these hurdles, lithium-sulfur batteries hold significant potential for various applications, including aerospace, consumer electronics, electric cars, large-scale storage, and renewable energy installations. They can power satellites, high-altitude aircraft, outer space vehicles, unmanned aerial vehicles, and even primary batteries for specific use cases. The high energy density and potential for long cycle life make lithium-sulfur batteries an intriguing alternative to lithium-ion batteries for various sectors, contributing to the ongoing advancement of battery technology.

Market Research Overview

Lithium-sulfur batteries are a promising clean energy solution for the future, offering high energy density and low-cost characteristics. These batteries utilize lithium as an anode and elemental sulfur as a cathode, separated by an electrolyte. However, challenges such as electrolyte stability, electrode architecture, and the polysulfide shuttle effect can hinder their widespread adoption. Fossil fuels continue to dominate the energy sector, but lithium-sulfur batteries have the potential to revolutionize large-scale energy storage for electric vehicles (EVs), portable electronics, and even aerospace. Manufacturing challenges include managing material interactions, production techniques, and ensuring safety measures. Solid-state lithium-sulfur batteries, which use a solid electrolyte system instead of liquid electrolytes, are being explored to mitigate some of these challenges. Lithium-sulfur batteries have advantages over lithium-ion batteries, such as lightweight cells and energy-dense batteries, but they still face manufacturing process hurdles. The EV market and EV technology continue to grow, and lithium-sulfur batteries could play a significant role in powering electric cars and transport. The aerospace sector, including satellites, unmanned aerial vehicles, and defense applications, could also benefit from the advantages of lithium-sulfur batteries. The energy storage market, including renewable energy installations, portable electronic devices, and personalized power, is expected to grow significantly, and lithium-sulfur batteries could be a key player. However, lithium-sulfur batteries face challenges such as lithium dendrite formation, volume expansion, and conductivity. Prior generations of these batteries had low energy density, but recent advancements have led to high energy density batteries. The manufacturing process for lithium-sulfur batteries requires careful management of plants and production energy, and melting processes are being explored to improve efficiency. The environmental impact of battery manufacturing is a concern, with manganese, nickel, and cobalt being major components of lithium-ion batteries. Lithium-sulfur batteries could offer a more sustainable alternative, as they do not require these minerals in the same quantities. The Theron, a German battery startup, is working on power cell applications for lithium-sulfur batteries, and other companies are exploring the potential of these batteries for various applications, from EVs to aerospace and consumer electronics. In conclusion, lithium-sulfur batteries offer significant potential for clean energy solutions, particularly in the areas of EVs, aerospace, and large-scale energy storage. However, challenges such as electrolyte stability, electrode architecture, and manufacturing processes must be addressed to realize their full potential. The advantages of these batteries, including high energy density, lightweight cells, and reduced reliance on minerals like manganese, nickel, and cobalt, make them an exciting area of research and development.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHigh Energy DensityLow Energy DensityEnd-userAviationAutomotiveOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Neusoft Remains No.1 in China’s Healthcare Security Information System Market Share

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SHENYANG, China, July 18, 2024 /PRNewswire/ — In a recent report by IDC titled China Healthcare Security Administrating System Market Shares, 2023: Deepening Application, Neusoft Corporation (Neusoft, SSE: 600718) once again ranks first in China’s healthcare security information system market share, reflecting its ongoing leadership in this field.

Healthcare security informatization was the starting point of Neusoft’s Big Health business strategic layout. Having been deeply engaged in the field for three decades, Neusoft witnessed the development process of China’s healthcare security system, and has been empowering the establishment of the multi-tier and wide-coverage system with its innovative technologies, products, solutions and services. With rich experience and successful practice in healthcare security informatization, Neusoft has won widespread recognition and good reputation in the market. Meanwhile, Neusoft is actively developing systems for deepening application in the areas of data governance and public services, and integrating AI technology into healthcare security informatization, to lead the industry towards continuous innovation and advancement.

Currently, Neusoft provides robust support in building China’s unified national healthcare security information platform, as well as the healthcare security platforms in over 200 cities across 25 provinces. Neusoft is enhancing its R&D investment in AI technology, continuously exploring the innovative application scenarios and practices of healthcare security big data. Besides, Neusoft has recently introduced an integrated solution tailored for China’s compact county-level medical community, facilitating total payment for healthcare security, to empower the development of county-level medical communities.

Looking ahead, Neusoft will strengthen its digital and intelligent business layout and continue to engage deeply in building intelligent healthcare security information system, enhancing the accessibility and convenience of healthcare security services, to promote the digital and intelligent development of the industry.

For more information about Neusoft, please visit www.neusoft.com

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SOURCE Neusoft Corporation

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Motherhood Care+ Secures Seed Funding from Care Ventures Group to Revolutionise Maternity Care Industry

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KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — Motherhood Care+, an innovative health & wellness tech startup based in Malaysia, announced today the successful completion of a seed funding round in December 2023, led by Care Ventures Group, a fund specialising in healthcare, wellness, medical, and AI technologies.

Motherhood Care+: The Future of Maternity

Motherhood Care+ aims to elevate maternity care standards by integrating a comprehensive array of products and services from confinement centres, confinement nannies, and confinement wellness providers. Recognising the critical importance of prenatal and postnatal health & wellness for new mothers, the startup supports women throughout their 9-month pregnancy journey and the crucial first 100 days post-birth.

Motherhood Care+ is a female-led and female-founded company, established in May 2023 by Tan Yew Aik and Goh Shze Yinn. Ms. Tan brings over a decade of experience in the postpartum care and maternity industry and is a co-founder and committee member of the Malaysian Postpartum Care Association. Ms. Goh, with a diverse background in finance and technology, also serves as a board member of Nuren Group Limited, an Australian-listed parenting tech company. Their combined expertise and leadership are pivotal in driving the vision and success of Motherhood Care+.

Funding and Future Plans

“We are thrilled to partner with Care Ventures Group, whose investment underscores our mission to transform the maternity care and wellness landscape,” said SY Goh, Co-founder of Motherhood Care+. “With this funding, we plan to expand our platform and enhance our technology to streamline operations and optimise user experience. In the next six months, we aim to feature at least 750 confinement centre rooms and 1,300 confinement nannies in the Care+ Members App, enabling us to better serve mothers across Malaysia and Singapore.”

Care Ventures Group’s investment comes as Motherhood Care+ achieves operational profitability within less than a year of its inception in March 2024. The startup is set to launch its flagship technology platform, the Care+ Members App, in August 2024. The app aims to cater to 200 new mothers monthly by providing access to a curated selection of maternity care services.

Investor’s Perspective

“We are impressed with the traction and metrics that Motherhood Care+ has achieved in such a short period,” said Dato Eng, Partner at Care Ventures Group. “Both Tan and Goh are domain experts, combining extensive knowledge of the maternity industry with operational excellence in technology adoption and financial controls. I am excited to be part of this promising journey.”

Utilisation of Funds

The seed funding will support Motherhood Care+’s strategic initiatives, including merchant acquisitions, process optimisation, and technology advancement. Over the next six months, the startup aims to onboard over 750 confinement centre rooms and 1,300 confinement nannies onto the Care+ Members App, enhancing accessibility to quality maternity care services across Malaysia and Singapore.

Learn More

To sign up and learn more about the Care+ Members App, visit https://app.motherhood.care/home.

About Motherhood Care+

Motherhood Care+ is a forward-thinking health & wellness tech startup dedicated to revolutionising maternity care. Established in May 2023 and based in Kuala Lumpur, Malaysia, Motherhood Care+ aggregates products and services from confinement centres, confinement nannies, and confinement wellness providers to support new mothers throughout their pregnancy and postnatal journeys. Led by co-founders Tan Yew Aik and Goh Shze Yinn, the company combines extensive industry expertise with innovative technology to enhance maternal health outcomes. Motherhood Care+ aims to elevate maternity care standards by integrating comprehensive solutions that prioritise the health and wellbeing of mothers and their newborns.

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SOURCE Nuren Group

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Introducing the World’s First Consent-Based Data-Sharing Framework Built on Open Standards: The Affinidi Iota Framework

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Affinidi Iota Framework disrupts how businesses gain insights about customers. The framework shifts the processing of queries to a personal data vault, providing transparency regarding what is disclosed through explicit consent. This grants individuals full control over how they are discovered and how they share information with others.Affinidi Iota framework democratises developers’ access to data through modern and privacy-preserving open standards, including W3C Verifiable Credentials, DIF Decentralised Identifiers, OID4VP, OID4VCI, and Presentation Exchange format (PEX).

BERLIN, SINGAPORE, BANGALORE, India, July 19, 2024 /PRNewswire/ — Affinidi, a Singapore-based data and identity management company, launched the Affinidi Iota Framework built on open standards at the WeAreDevelopers World Congress. This innovative framework establishes a new way for individuals to share data by prioritising explicit consent, empowering individuals to selectively share specific data points with a clear understanding of their intended use.

In the traditional digital landscape, individuals often share sensitive data with third parties without transparency or control, leaving their data vulnerable to misuse, unauthorised access, and data breaches. A Twilio report shows that 60% of Asia Pacific consumers demand consent and communication on data use, while a PwC study reveals a trust gap, with only 30% of consumers trusting businesses. Existing solutions exacerbate these issues by collecting vast amounts of individuals’ data (essential/non-essential) and transferring it to back-end databases, burdening developers with managing large volumes of data and associated risks.

Affinidi’s Iota Framework disrupts this outdated model, pioneering a new era of data privacy and security. The Affinidi Iota Framework enables developers to request essential data points directly from individuals, with explicit consent, eliminating the need to collect and store non-essential information. This approach ensures individuals maintain control over their data, reducing storage burdens, and minimising risks associated with data collection and potential misuse. Affinidi equips developers with dev-friendly templates and robust tools, streamlining the setup of data-sharing processes. With our easy-to-use SDK, developers can navigate the complexities of identity, privacy, and security, building innovative solutions in just minutes.

The Affinidi Iota Framework revolutionises data exchange between businesses and individuals by adhering to strict consent-first principles, providing businesses with richer, more accurate data that enhances personalisation, and fosters market innovation and competitiveness. Roopesh Shah, Co-Founder and CTO of Gro Club, India’s first and largest bicycle subscription model that recently adopted Affinidi’s solution for seamless integration, shared, “We began with Affinidi Login to simplify access to individual data through a one-click onboarding process. But with the introduction of the Affinidi Iota Framework, we are thrilled to advance beyond efficient customer onboarding, laying the groundwork for a future where every interaction is precisely tailored to individual preferences based on accurate and consented data.”

Built on Open Standards

The Affinidi Iota Framework leverages cutting-edge technologies such as the DIF Presentation Exchange (PEX) protocol and the OpenID for Verifiable Presentations (OID4VP) specifications built on OAuth 2.0 to deliver a robust consent-first solution for a new way of data sharing.

At the heart of the Affinidi Iota Framework is the DIF Presentation Exchange (PEX) specification. PEX, based on JSONPATH, serves as a standard query language for data exchange, enabling powerful filtering capabilities that accommodate simple and complex use cases. By defining data requests with a structured syntax, PEX simplifies data sharing, making specific data requests more seamless and efficient. Using standardised schemas ensures that queries are portable, allowing multiple developers and businesses to utilise them without reinventing the wheel. This streamlines the data exchange process and enhances interoperability across different systems.Building on the robust OAuth 2.0 authorisation framework, the OID4VP protocol provides a secure transport mechanism for Verifiable Presentations. Simply put, Verifiable Presentations extract specific information from Verifiable Credentials, like signed digital containers holding personal data (such as an ID or diploma). These presentations, shared as VP Tokens, ensure data authenticity and provenance. This groundbreaking feature enhances data safety, reducing risks of data breaches and fraud by sharing only necessary, verified information. It establishes transitive trust efficiently, maintaining high security and privacy standards within the Affinidi Iota Framework.The Affinidi Trust Development Kit (TDK), our SDK, is an open-source toolkit that enables developers to build privacy-preserving applications efficiently, aligning with complex and evolving standards. This streamlined solution integrates multiple elements to provide privacy functionalities without requiring workflow overhauls. By bridging Web 2 and Web 3 technologies, the framework leverages decentralised data stored in the Affinidi Vault for just-in-time data acquisition. It offers a range of modules, including clients for identity management, verifiable credential handling, and login configurations, ensuring flexibility and choice for developers. Supporting various programming languages such as TypeScript and Python facilitates seamless integration of Affinidi’s trust services into applications.

How it Works

The Affinidi Vault is a secure personal data store where individuals can securely store their information. Developers need to create an Affinidi Iota Framework configuration to set up the basics required to query the data from the Affinidi Vault. After creating a configuration, developers can integrate the Affinidi Iota Framework into their application with the Affinidi TDK. This setup ensures that data is shared only with the explicit consent of the vault owner, empowering individuals with choice and control over the information they share while enhancing data privacy and security. This also simplifies real-time data acquisition, reduces complexity, and enhances trust and transparency.

Revolutionising Data Exchange and Ownership

Affinidi is leading a global movement to return data ownership to individuals through its Holistic Identity concept, addressing the fragmentation of digital identities across platforms. The release of the Affinidi Iota Framework marks another significant step towards achieving this vision.

“In a new world where individuals can control their identity and data, we must redefine how information is shared. The Affinidi Iota Framework represents a major step forward in safeguarding privacy and consent by shifting information processing to the individual’s personal data vault. Gone are the days of trusting third parties with sensitive documents like pay slips and bank statements just to open a bank account,” said Glenn Gore, Chief Executive Officer of Affinidi.

The beta version of the Affinidi Iota framework can be accessed through the Affinidi Portal. Learn more about the Affinidi Iota Framework here.

About Affinidi

Affinidi is a data and identity management company founded by Temasek in 2020 that aims to revolutionise data ownership for good through its Holistic Identity concept. Globally anchored in Singapore and supported by strategic hubs in Berlin, Ukraine, and Bangalore, Affinidi seeks to empower individuals, and enrich developers and businesses through its consent-driven and privacy-preserving solutions, rooted in trust and security.

The Holistic Identity concept encompasses the complete spectrum of discovering, collecting, sharing, storing, and even monetising one’s data in the digital world. Affinidi adopts an unwavering user-first approach, providing innovative developer tools with a ‘privacy-by-design’ philosophy within every layer of their tech stack. It emphasises and executes an end-to-end network trust known as the Affinidi Trust Network, underpinning a data environment that is secure and inherently interoperable. This commitment to decentralised identity management transcends borders and industries.

Affinidi is actively pioneering the #ReclaimYourData movement through advocacy, partnerships, and education. Find out more here: https://www.affinidi.com.

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