29-Dec-2022 | Zion Market Research
The global zinc-air batteries market size was worth around USD 111.5 million in 2021 and is predicted to grow to around USD 128.5 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2022 and 2030.
Zinc-air batteries, also identified as zinc-air fuel cells, are metal-air batteries filled with oxygen. The reaction rate of zinc-air batteries is controlled by varying the airflow, and oxidized zinc/electrolyte paste can be replaced with fresh paste. Zinc-air batteries can be used to replace now discontinued 1.35 V mercury batteries. The global zinc-air batteries market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities, thereby increasing the production capacity of plastic packaging thus, driving the market growth by catering to the need for zinc-air batteries in various end-use industries.
The global zinc-air batteries market growth is expected to be driven by the use of zinc-air batteries in the electronics industry. Key factors such as a rise in disposable income among people, and a growing consumer craze for electric vehicles have driven the market. Furthermore, several people are facing hearing loss at a young age. For instance, according to an article published by the U.S. Department of Health and Human Services in 2021, about 2 to 3 out of every 1,000 children in the United States are born with a detectable level of hearing loss in one or both ears. Zinc-air batteries are extensively used in hearing aids owing to their greater battery efficiency and durability.
The high initial cost of adoption is expected to restrict global market expansion. In addition, the availability of cost-effective lithium-ion batteries is expected to hamper the market growth. Moreover, the explosive production of hydrogen due to a corrosive reaction between an electrolyte and a zinc anode is expected to restrain the market during the forecast period.
The government of both developed and developing economies have taken initiatives for generating renewable energy storage systems which will provide lucrative opportunities for the zinc-air battery.
The global zinc-air batteries market is segmented based on type, end-use industry, and region.
Based on type, the global zinc-air batteries are segmented into rechargeable and non-rechargeable. The rechargeable battery type segment will dominate during the forecast period and accounted for 48.65% of the total market share. Rechargeable batteries offer promising performance at low current density due to which it is widely used in electric vehicles, electronic gadgets, and other battery-based products.
On the basis of the end-user industry, it is categorized into military devices, hearing aids, safety lamps, medical devices, energy storage, and others. The global hearing aids end-use sector will dominate during the forecast period and accounted for 36.65% of the total market share. There are several key factors for the growth of the zinc-air batteries market in the hearing aids end-use industry segment. One of the key elements such as the growing young population, rise in the number of hearing loss people, and robust growth in the production rate of hearing aids devices has spurred the zinc-air batteries market. Zinc-air batteries are cost-effective, has a longer shelf life, and act as an excellent power source. This factor will foster the market for hearing aids end-use segment.
The global zinc-air batteries market is anticipated to be dominated by the Asia-Pacific region. A major factor for the market growth is the high production rate and manufacturing units in China and India.
Asia-Pacific may be driven by China which had a total global market share of 43.67% in 2019. The regional growth may be attributed to the shift towards cost-effective and operation-efficiency-based zinc-air battery products. Moreover, North America and Europe have shown positive growth in the zinc-air battery market. This is attributed to the fact that stringent norms and regulations from European Union and government support for sustainable renewable energy production have driven the market during the forecast period.
This review is based on a report by Zion Market Research, titled “Zinc-Air Batteries Market, by Type (Rechargeable and Non-rechargeable), by End-Use Industry (Military Devices, Hearing Aids, Safety Lamps, Medical devices, Energy Storage, and Others) and by Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2030.”- Report at https://www.zionmarketresearch.com/report/zinc-air-batteries-market
The global zinc-air batteries market is dominated by players like:
The global zinc-air batteries market is segmented as follows:
By End Use Industry
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