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| Zinc-Air Battery Market |
The Zinc-Air battery market involves generation of electric power through an
electrochemical reaction between zinc and oxygen from the air. These batteries
operate by taking oxygen from the environment instead of storing a pre-measured
amount of oxidant. They have various applications in fields like medical
equipment, military devices, remote telemetry systems and more owing to their
ability to provide long-lasting and sustainable energy.
The Global Zinc-Air Battery Market is estimated to be
valued at US$ 2.22 Bn in 2024 and is
expected to exhibit a CAGR of 5.8% over
the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Zinc-Air
Battery Market Growth are Phinergy, Arotech Corporation, Energizer
Holdings, GP Batteries International, Zinc8 Energy Solutions, Panasonic
Batteries, Duracell, Renata SA, EverZinc, Ravoyac, Nantenergy, Electric Fuel
Battery Corporation, ZAF Energy System, Varta AG, Thunderzee, and AZA Battery.
Phinergy, for example, develops zinc-air battery solutions for grid storage
applications while Arotech Corporation provides power solutions for defense and
security organizations.
Key opportunities in the market include developing affordable and high-capacity
zinc-air batteries for electric vehicles. While zinc-air batteries have
substantial energy density, their practical implementation for EVs requires
cost reduction through technological advancements. The market also provides
opportunities to expand global outreach for industries relying on continuous
power supply like telecommunications.
Market drivers and restrain
One of the key drivers for the zinc-air battery market is its extended battery
life compared to other battery chemistries. While lithium-ion batteries last
for around 3 to 5 years, zinc-air batteries can power appliances for over a
decade owing to their access to endless air oxidant. This quality makes them
suitable for powering standalone equipment installed at remote locations like
ocean buoys.
However, a major restrain hampering the widespread adoption of zinc-air
batteries is their low energy density compared to lithium or nickel-metal
hydride batteries. Zinc-air batteries are bulky for certain portable
applications due to limited energy storage capability per unit weight/volume.
Extensive research is ongoing to improve performance and reduce size of these
batteries without compromising on lifespan. High manufacturing costs pose
another challenge by limiting their commercial potential currently.
Segment Analysis
The zinc-air battery market can be segmented based on type, product, and
application. Within type, primary zinc-air batteries dominate the market
holding around 90% share. These are non-rechargeable and are utilized in
applications such as hearing aids where a constant voltage is required.
Rechargeable zinc-air batteries have gained limited traction currently and
account for less than 10% share due to issues with recharge cycle life.
Based on product, button zinc-air batteries are the dominant segment
constituting over 80% share. Their compact cylindrical shape with embedded
anode makes them ideal for small portable devices. Larger zinc-air batteries
are used in applications such as electric vehicles where high energy density is
required but hold a small market share currently.
Within application, hearing aid devices dominate constituting over 50% share.
Zinc-air batteries provide the ideal combination of power density and form
factor required by hearing aids. Growth in elderly population globally has
stimulated demand from this segment. Electric vehicles present promising growth
opportunities propelled by advantages of zinc-air batteries over alternatives
in terms of energy density. However, limited number of models and high battery
costs have constrained the segment currently.
Global Analysis
The North American region dominates the zinc-air battery market holding around
40% share driven by the large market for hearing aid devices in the US and
Canada. The Asia Pacific region follows with a share of over 30% supported by
countries like Japan, China, South Korea and India which are major battery
producers as well as have growing elderly populations. Europe has a substantial
market as well led by Germany, UK and France due to large healthcare and
automotive industries. The Middle East and Africa region presents high growth
opportunities attributed to rising demand for portable devices along with
increasing focus on electric vehicles in countries like Israel, UAE and South
Africa. Latin America has a relatively smaller zinc-air battery market
currently but is expected to grow at an appreciable rate through the forecast
period.
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