"Actionable Insights to Fuel Your Growth"
The global zinc-air battery market size was USD 112.2 million in 2020. The market is projected to grow from USD 117.0 million in 2021 to USD 196.7 million in 2028 at a CAGR of 7.7% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of -2.7% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
A zinc-air battery, also called a zinc-air fuel cell, is a metal-air battery with oxygen from the air. The rapid growth of the energy sector has been tremendous over the past decade. Advances in technology and innovation have propelled us into an age of energy. With the advent of energy storage technology, the world is moving toward more efficient ways to store energy and use it in an environment-friendly way. Renewable energy sources are being researched for this purpose. The zinc-air fuel cell battery market is resilient due to its long life and eco-friendly nature.
Effect of COVID-19 on Global Zinc-Air Battery Market
The outburst of COVID-19 has hindered the market growth. The zinc-air battery market growth has declined during the epidemic, which has constrained the supply of batteries and other acute components due to severe disturbances in commercial and the global economy. The growth of these batteries has declined in remote controls and safety lamps in railways while road construction and maintenance activities have been halted worldwide, impacting the demand for these batteries.
Request a Free sample to learn more about this report.
Growing Advancements in Electric Vehicles to Propel the Adoption of Zinc-Air Battery
Various research institutions and companies are working and collaborating on parameters which will helps in commercializing of these batteries as they are at the nascent stage of development. The estimated delivery time of projects has extended which has attract investment in the upcoming years. According to the data predicted by International Energy Agency (IEA), EV sales fell by 15% worldwide during the pandemic, which will certainly obstructs the battery producers in the coming years.
Increased Acceptance of Renewable Sources for Power Generation to Support Growth
The demand for battery energy storage systems is propelling owing to the growing acceptance of renewable source of energy such as solar and wind, which will support the growth of the market. The rising necessity to diminish greenhouse gas emissions (GHG) and growing demand for power supply are setting remarkable installation of renewable sources for power generation, which is leading for the development of battery storage systems, which in-turn supports the development of zinc-air batteries.
Increased Research and Development Activities in Zinc-Air Battery Will Propel Market
Various research & development activities are happening across the world to use zinc-air batteries in energy storage devices and electric vehicles. For instance, the Canadian battery manufacturer Zinc8 Energy Solutions works on zinc-air battery energy storage devices. However, the certification to the battery safety standard and demonstration projects are underway.
Higher Capacity of Zinc-air batteries and Economical Advantage Will attract significant Investment from Leading Manufacturers
The production cost of zinc-air batteries related to other batteries, such as lithium-ion and lead-acid batteries are low, which attracted manufacturers to focus on this type of batteries. In addition, these batteries has higher energy density, high specific power and high voltage are some of the key factors which offers a profitable opportunity for the manufacturer. Various companies are collaborating and working individually with research & development institutions to progress the battery's characteristics and bring optimum products on a large scale in the market.
Health Concern Owing to Mercury Reduces the Adoption of Zinc-Air Batteries
Demand for the product is severely hampered by the presence of mercury in zinc, which is considered hazardous to health. Added to this is the threat of a lithium-ion battery, which may be a cheaper alternative in the near future as it is supposedly more power-efficient, more durable, and longer-lasting. These factors can cause this market to stagnate.
To know how our report can help streamline your business, Speak to Analyst
Rechargeable Batteries are Set to Lead Market
Based on type, the market share is split into non-rechargeable and rechargeable batteries. Non-rechargeable batteries are disposable, cost-effective, and require less maintenance. The demand for rechargeable batteries will increase due to their high shelf life and durability. The application of rechargeable zinc-air batteries can be viewed in multiple applications, ranging from small-scale devices to large vehicles. It is also known for its durability, reliability, and output generation. These factors will make it a better alternative than the non-rechargeable type. Therefore, it is anticipated to grow at a fast pace and occupy more of the market during the forecast period.
The Rising Demand for these batteries in Hearing Aids is Expected to Grow
By application segment, the market is segregated into hearing aids, military devices, safety lamps, and others. Hearing aids dominate the market as these batteries are widely adopted in small devices. In addition, the rising demand for energy storage devices also indorses the usage of zinc-air batteries due to its characteristics such as high energy density. The adoption of these batteries is also expected to increase in electric vehicles. These batteries possess various high properties compared to lithium-ion batteries, such as energy density, are environment-friendly, and are cost-effective compared to lithium-ion batteries.
Asia Pacific Zinc-Air Battery Market Size, 2020 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
Geographically, the market is widespread across three key regions, containing North America Europe, Asia Pacific, and the rest of the world. As per our research, Asia Pacific dominates the zinc-air battery market share throughout the forecast period. Japan and China are the world's biggest markets of electric vehicles. The adoption of these batteries in electric vehicles, especially in electric cars, provides a promising opportunity. These type of batteries has high volumetric energy density and high specific energy, safe, and reduce hazards. The Asia Pacific is a major market as the region is considered as a manufacturing hub for a significant portion of global electronics.
North America is projected to observe stable growth, with the U.S. dominate the regional market. In Europe, the growing focus of government organization toward greenhouse gas emissions will drive the regional market. Several countries, such as France, Argentina, Germany, and others, have established their target to become zero emission of CO2 by 2050, which has promoted the experiment on zinc-air batteries in the countries. In addition, several projects such as NECOBAUT have been launched to develop next-generation of automotive batteries.
The Rest of the World is likely to observe substantial growth as many countries within the Middle East & Africa and Latin America are witnessing rising construction activities. In addition, cities are emerging at a greater scale, which is promoting the broad adoption of safety lamps, which will propel this market.
This industry consists of numerous manufacturers located in all regions. Duracell, Ravoyac, Varta AG, and GP Batteries are market leaders with well-established supply chains for their product distribution.
An Infographic Representation of Zinc-Air Battery Market
To get information on various segments, share your queries with us
The market research report offers qualitative and quantitative insights and a detailed industry analysis with size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are advancement in technology for this type of batteries by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key market trends.
Value (USD Million)
By Type, By Application, and By Region
As per the Fortune Business Insights study, the global Zinc-Air Battery Market was USD 112.2 million in 2020.
The global Zinc-Air Battery Market is projected to grow at a CAGR of 7.7% during the forecast period.
The market size of Asia Pacific was valued at USD 62.7 million in 2020.
Hearing aids, safety lamps, military devices, and medical devices are among the major applications.
The global Zinc-Air Battery Market is anticipated to reach USD 196.7 million by 2028.
Based on type, the non-rechargeable segment holds the highest share in the Zinc-Air Battery Market across the globe.
The top players in the Zinc-Air Battery Market are Duracell, Rayovac, Nantenergy, ZAF Energy System, and AZA Batteries.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry