Northbrook, IL -- (SBWIRE) -- 03/09/2022 -- The global metal-air battery market size is estimated to grow from USD 438 million in 2020 to USD 842 million by 2025; growing at a CAGR of 14.0%. The growth of the market is driven by the rising demand for high-capacity, safe, cost-effective, and eco-friendly energy storage solutions. These batteries have gained significant popularity as a promising source of energy in small electronic devices such as hearing aids and watches, and in stationary energy storage applications.
Zinc-air segment accounted for largest share of metal-air battery market in 2019
The zinc-air segment accounted for the largest share of the metal-air battery market in 2019. The largest share is due to several advantages, such as high energy storage density and the flat drain curve of these batteries, which makes them an ideal power supply solution for various electronic devices such as digital hearing aids and watches. Zinc-air batteries are also used in navigation aid systems and remote railway signaling. These batteries can store more energy per unit of weight compared to other types of primary batteries.
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Low-voltage metal-air batteries accounted for largest share of metal-air battery market in 2019
Low-voltage metal-air batteries accounted for the largest share of the metal-air market in 2019. Growing demand for low-voltage metal-air batteries for use in various electronic devices such as hearing aids, watches, lighting systems, cardiac telemetry monitoring systems, and communication devices is expected to drive their market. These batteries are generally used as primary batteries and have high energy density and long shelf life.
Market for electric vehicles is expected to grow at highest CAGR during the forecast period
One of the significant opportunities in the future for metal-air batteries is their application in electric vehicles. Amid the rising concerns regarding pollution levels and climate change, the global automotive industry has witnessed a significant rise in the demand for electric vehicles. The demand for metal-air batteries for electric vehicles is likely to grow at the highest CAGR during the forecast period. The growth is attributed to the numerous benefits offered by these batteries that include safe operation, eco-friendliness, low cost, and high energy density.
Asia Pacific held a major share of metal-air battery market in 2019
Electric vehicles, consumer electronics, and renewable energy industries are expected to drive the demand for advanced batteries in APAC. Countries such as China, Japan, India, and Indonesia offer tremendous growth potential for the metal-air battery market in the region. The market in APAC is expected to grow at a significant CAGR during the forecast period. This can be attributed to the high economic growth witnessed by major countries in the region. A few of the prominent companies operating in the APAC region include Log9 Materials, ACTXE Limited, Aqua Power Systems, and Fuji Pigment Co., Ltd.
Key Market Players
NantEnergy Inc. (US), Phinergy (Israel), Log 9 Materials (India), Arotech Corporation (US), PolyPlus Battery Company (US), Fuji Pigment Co., Ltd. (Japan), GP Batteries International Limited. (Hong Kong), Zinc8 Energy Solutions Inc. (Canada), E-Stone Batteries B.V. (Netherlands), Arconic Inc. (US), and Energizer Holdings, Inc. (US). are a few major companies operating in the metal-air battery market.