PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1569770
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1569770
According to Stratistics MRC, the Global Zinc-Air Battery Market is accounted for $162.49 million in 2024 and is expected to reach $283.18 million by 2030 growing at a CAGR of 9.7% during the forecast period. Zinc serves as the main fuel in zinc-air batteries, a kind of metal-air battery that draws oxygen from the surrounding air. These batteries are widely used in devices like medical equipment, small electronics, and hearing aids because of their great energy density and minimal environmental effect. Zinc and oxygen react chemically to produce energy in the battery, which makes it lightweight and efficient. Moreover, zinc-air batteries are more affordable and have a longer shelf life than conventional batteries, but they cannot be recharged in the conventional manner.
High density of energy
Zinc-air batteries present a markedly elevated energy density in contrast to conventional battery technologies such as nickel-cadmium and lead-acid. They can store more energy per unit weight due to their high energy density, which makes them perfect for small, portable applications like medical devices and hearing aids. This feature also makes zinc-air batteries competitive candidates for electric vehicle (EV) applications, where high energy storage in a small package is critical. Additionally, their capacity to hold a lot of energy for extended periods of time makes them ideal for balancing sporadic energy sources like wind and solar power in the renewable energy industry.
Reduced efficiency in humid environments
Zinc-air batteries are extremely sensitive to environmental conditions like humidity because they rely on oxygen from the surrounding air to produce energy. Under humid conditions, water vapor buildup in the battery system can cause electrolyte dilution and the formation of by-products that hinder the electrochemical processes of zinc-air batteries, thereby deteriorating their performance. Furthermore, their susceptibility to dampness restricts their effectiveness in tropical or high-humidity settings where they may need extra safeguards, like humidity control systems or moisture barriers, to survive.
Prospects for remote and off-grid power systems
Access to affordable and dependable power is a significant challenge in remote areas, particularly in developing nations. Off-grid energy sources, like solar and wind, are frequently the only practical choices; however, in order to control the energy supply during non-generation times, they need effective storage systems. Off-grid and rural energy storage applications benefit greatly from the long shelf life, high energy capacity, and low cost of zinc-air batteries. Moreover, this creates significant opportunities for emerging markets to adopt zinc-air batteries, especially when governments and non-governmental organizations advocate for more sustainable development in marginalized areas.
Rivalry from well-established battery technologies
The fierce competition from well-established battery technologies, especially lithium-ion batteries, poses the biggest threat to the zinc-air battery market. Because of their exceptional energy density, quick charging times, and extensive use in consumer electronics, grid storage systems, and electric vehicles (EVs), lithium-ion batteries have dominated the energy storage market. Furthermore, continuous improvements in lithium-ion technology-such as the creation of solid-state batteries-are pushing the boundaries of performance, which makes it more difficult for zinc-air batteries to compete on attributes like power output and recharge ability.
The COVID-19 pandemic affected the market for zinc-air batteries in a variety of ways. Early on, it lowered demand from end-use industries like renewable energy systems and electric cars, disrupted supply chains, and slowed down research and development in the field. Additionally, interest in creating and advancing zinc-air battery technology increased as governments and businesses realized how important it was to have reliable and sustainable energy systems. Anticipating a possible increase in demand for sustainable energy solutions after the pandemic, researchers and companies concentrated their efforts on improving efficiency, durability, and cost-effectiveness.
The Primary (Non-Rechargeable) segment is expected to be the largest during the forecast period
Due to its widespread use in products like hearing aids, safety lamps, and military equipment, the primary (non-rechargeable) segment of the zinc-air battery market has the largest market share. For small electronic devices that need dependable power sources that don't require frequent recharging, non-rechargeable zinc-air batteries are preferred due to their high energy density, extended shelf life, and affordability. Furthermore, the regulatory trends that favor environmentally friendly alternatives to mercury batteries, which have led to increased adoption in a variety of consumer and industrial applications, further bolster this segment's dominance.
The Up to 12 V segment is expected to have the highest CAGR during the forecast period
Throughout the forecast period, the zinc-air battery market is anticipated to grow at the highest CAGR in the up to 12 V segment. The increasing need for low-voltage zinc-air batteries across a range of applications, especially in LED lights and hearing aids, is responsible for this segment's rapid growth. Zinc-air batteries, which have a voltage range of up to 12 V, are becoming more and more popular as compact and efficient power sources due to the rising incidence of hearing loss in developing countries and the growing popularity of LED lighting solutions. Moreover, this means that the market for zinc-air batteries as a whole is expected to grow at a faster rate than the higher voltage categories, with this segment leading the way.
With regard to the global market for zinc-air batteries, the Asia-Pacific region has the largest share. This dominance is anticipated to last for the duration of the forecast period due to the increasing use of zinc-air batteries in electric vehicles, especially in nations like South Korea, China, and India. Additionally, Asia-Pacific is a significant center for the production of electronics worldwide, which increases the need for zinc-air batteries in a variety of applications. The region's notable market leadership can also be attributed to its swift industrialization, urbanization, and large investments in renewable energy infrastructure.
Throughout the forecast period, the zinc-air battery market is expected to grow at the highest CAGR in the Europe region. Growing government initiatives to promote sustainable energy sources and lower greenhouse gas emissions are the main drivers of this growth. The aggressive carbon neutrality goals that many European nations are pursuing are encouraging investment in cutting-edge battery technologies, such as zinc-air batteries. Furthermore, this market is expected to grow as a result of Europe's growing need for energy storage devices and electric cars, where zinc-air batteries present a viable substitute because of their high energy density and favourable environmental effects.
Key players in the market
Some of the key players in Zinc-Air Battery market include Electric Fuel Battery Corporation, Arotech Corporation, NEXcell BATTERY CO., LTD., Panasonic Batteries, Duracell, Varta AG, GPB International Limited, Thunderzee Inc., Renata SA, Zinc8 Energy Solutions Inc., AZA Battery, Phinergy Ltd., Ravoyac, Energizer Holdings, Inc. and ZAF Energy Systems, Inc.
In February 2024, Panasonic Energy Co., Ltd., a Panasonic Group Company, announced it has signed a long-term agreement with H&T Recharge, a leading battery component manufacturer, for the supply of lithium-ion battery cans in North America, with the aim of expanding its production of safe EV batteries.
In March 2023, VARTA AG has taken a decisive step on the road to the future and has reached agreement with the financing banks and the majority shareholder on a far-reaching restructuring concept. The agreement is still subject to committee approval by the banks. It provides for an extension of financing until 31st December 2026, and changes to the terms of the loan.