Zinc-Air Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Zinc-Air Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Zinc-Air Battery Market

The zinc-air battery market size was valued at USD 112.2 million in 2023, and the market is now projected to grow from USD 117.0 million in 2024 to USD 196.7 million by 2032, exhibiting a CAGR of 7.7% during the forecast period of 2024-2032.

The zinc-air battery market was also affected by changes due to the COVID-19 pandemic, certain disruptions in the supply change and difficulties in manufacturing processes. Market interest in renewable energy sources and sustainable technologies started increasing, and the pandemic boosted the interest of people in shift to the alternatives, such as zinc-air batteries. However, problems of limited manufacturing capacity and, especially, an inability to deliver their product to stores in the short term limited market growth. As noted in this work, recovery after the COVID impact has been characterized by higher spending on research and development across industries with a focus on green energy. The market is now in a state of growth for extending the market to energy storage systems and electric vehicle.

Current trends in the zinc-air battery such as enhancement in energy density and battery longevity are thus evident indicating their potential use in EVs and energy from natural resources storage. This has led researchers to pay considerable attention to gaining higher power numbers and decreasing costs through the development of better zinc-electrode materials and air-cathode designs. Furthermore, zinc-air battery developments also focus on their sustainability and environmentally friendly material and disassembling characteristic. An increasing focus on clean energy and government support for renewable energy means that these environmentally friendly batteries have a growing number of requests across multiple industries. Thus, all the above mentioned factors are contributing towards the zinc-air battery market growth.

Key driver areas for the market include growing concern with zinc air batteries as renewable energy storage devices. The benefits of zinc-air batteries include high specific energy density and low cost of Zn anode, and environmentally friendly characteristics that make it suitable for battery-driven electric vehicles and renewable power systems. Other trends which gives momentum to battery market includes batteries technology with increased efficiency, longer cycle life and better performances. Furthermore, the state support and the planet’s shift towards green technologies contribute to investments in the enhancements of zinc-air batteries to continue as the key in various sectors.

Comprehensive Analysis of Zinc-Air Battery Market

The global zinc-air battery market is divided based on its type, application, and geographical areas. Based on the type the market can be segmented as non-rechargeable batteries, and rechargeable batteries, but the later segment is showing more attraction due to the higher efficiency and long lasting capabilities. Based on application, zinc-air batteries are deployed in hearing aids, military devices, safety lamps and others especially hearing aids covering the largest market share because it provides, high energy density and light weight. In terms of territory, this market is growing in North America, Europe, Asia Pacific, and other regions because of the rising customer need for renewable energy sources and technology’s development.

Asia-Pacific is the largest consumer due to increased industrialization, demand for portable electronic devices and increased focus on non-renewable energy sources in the region. Market competition can also be attributed to players that have invested prominently in battery technology such as China, Japan and South Korea. Another advantage for the region is actions of government towards green energy and EV introduction which will strengthen the market even more. Moreover, the rising market of zinc air batteries in Hearing aids and military equipment makes the region account for a large number of customers on the global market.

Key players in this sector include Duracell (U.S.), Ravoyac (U.S.), Nantenergy (U.S.), Electric Fuel Battery Corporation (U.S.), ZAF Energy System (U.S.), Varta AG (Germany), GP Batteries (Hong Kong), Phinenergy (Israel)

The market of zinc-air batteries for 2024 is experiencing trends related to energy density and efficiency for the application in electric vehicles. Rapid developments in rechargeable zinc-air batteries are being made as corporations develop the core components, electrode materials, in a bid to enhance battery durability and minimize charging durations. Also innovation is another type of consideration where there is an effort to make the zinc-air batteries recyclable. These trends are floating zinc-air batteries into industries like EVs, Renewable Energy Systems, including portable electronics, owing to the growing need for renewable energy storage.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year

2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Million)

Segmentation

By Type, By Application, and By Region

By Type

Non-Rechargeable

Rechargeable

By Application

Hearing Aids

Military Devices

Safety Lamps

Others

By Geography

North America (By Type, By Application, By Country)

• U.S (By Application)
• Canada (By Application)

Europe (By Type, By Application, By Country)

• U.K. (By Application)
• Germany (By Application)
• France (By Application)
• Italy (By Application)
• Spain (By Application)
• Rest of Europe (By Application)

Asia Pacific (By Type, By Application, By Country)

• China (By Application)
• India (By Application)
• Japan (By Application)
• Rest of Asia Pacific (By Application)

Rest of World (By Type, By Application)Please Note: It will take 5-6 business days to complete the report upon order confirmation.