Metal Air Battery Market
Growth Factors of Metal Air Battery Market
The metal air battery market size was valued at USD 494.02 million in 2023, and the market is now projected to grow from USD 526.09 million in 2024 to USD 1270.21 million by 2032, exhibiting a CAGR of 11.65% during the forecast period of 2024-2032.
The COVID-19 outbreak has impacted almost all domains of economic activity and led to severe changes in operations due to the lockdown measure. This disruption has changed the dynamic in metal air batteries and the end-use sector has not as much demand for it. The sector could not leave this period without some problems related to efficiency and market coverage. In general, changes took place in the battery market as well during the pandemic on both the demand and supply sides.
Researchers are seeking to design novel positive and negative electrodes for metal-air batteries to enhance the theoretical capacity and energy density thereof. This involves using different metals in the anode including Zinc, Aluminum, Lithium among others, while the improvement of the cathode catalyst for oxygen reduction reactions is another important endeavor. It also asserts that electrolyte formulations require constant enhancement and innovations to improve their stabilities, conductivity, and compatibility with electrodes. Some of the challenges that the researchers are focusing in the electrolyte-material systems include the degradation of electrolytes, formation of dendrites and side reactions are being addressed by using different types of electrolytes aqueous and non- aqueous electrolytes and solid-state electrolytes.
With increasing focus on clean power generation, the use of wind and solar energy has accelerated considerably and the technology has emerged as key purchaser of battery energy storage systems. Since energy requirements increase and the demand for limiting emissions grows, the shares of renewable energy systems should increase substantially. For instance, in 2019, the German state outlined the vision of generating 20GW of wind electricity from offshore by the end of the year 2030. This momentum will go on to further propel the use of batteries in battery storage systems as well.
Comprehensive Analysis of Metal Air Battery Market
The metal air battery market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by metal analysis, by type analysis and by application analysis. By metal analysis include zinc-air, lithium-air, aluminum-air, iron-air, and others. By type analysis include primary and secondary/rechargeable. By application analysis include electric vehicles (EV), stationary power, military devices, and electronic devices.
The Asia Pacific region lead the metal air battery market share by benefitting a market size of USD 275.79 million in 2023 due to huge investments by countries in renewable energy and research & development.
The top players have a significant responsibility in the power & energy industry for confirming industrial prospectus growth and determining the market trends. These players include, Phinergy, NantEnergy, Log 9 Materials, Arotech Corporation, PolyPlus, Fuji Pigment Co. Ltd., Zinc8 Energy Solutions, GP Batteries, ZAF Energy Systems Inc. (ZAFSYS), Thunderzee, Duracell Inc., Energizer Holdings, Panasonic, Epsilor Electric Fuel, Renata S.A., ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd., Guangdong Tianqju Electronics Technology Co., Ltd. these market players provide a level-playing competitive landscape.
In February 2024, Panasonic Energy Co., Ltd. signed a long-term contract with HandT Recharge to supply lithium components, aiming to expand the production of safe electric car batteries.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 11.65% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Metal
- Zinc-Air
- Aluminum-Air
- Lithium-Air
- Iron-Air
- Others
By Type
- Primary
- Secondary/Rechargeable
By Application
- Electric Vehicle (EV)
- Stationary Power
- Military Equipment
- Electronic Devices
By Geography
- North America
- By Metal
- By Type
- By Application
- By Country
- U.S.
- Canada
- Europe
- By Metal
- By Type
- By Application
- By Country
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- By Metal
- By Type
- By Application
- By Country
- China
- Japan
- India
- Rest of Asia Pacific
- Rest of the World
- By Metal
- By Type
- By Application
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