New York, USA, March 22, 2021 (GLOBE NEWSWIRE) -- A new report on the global metal-air battery market has been added by Research Dive to its repository. As per the report, the market is expected to garner $1,123,100.0 thousand by 20267 growing at a CAGR of 15.0% from 2020 to 2027. This report offers detailed insights into the present situation and future scope of the global industry. The report is articulated by expert market analysts and guarantees to be a reliable source of data and thorough market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
Growing need for high energy density storage options, increasing shift to green energy sources to curtail environmental pollution, and growing adoption of electric vehicles by consumers are the major factors thriving the growth of the global metal-air battery market. Moreover, continuous demand for metal-air batteries from the aerospace industry is expected to unlock lucrative opportunities for the market growth during the forecast period. However, higher cost of advanced battery systems is likely to obstruct the market growth.
COVID-19 Pandemic Impact on the Market:
The sudden outbreak of the COVID-19 pandemic has hindered the growth of the global metal-air battery market. The COVID-19 lockdown has limited the sale of batteries making a drastic impact on the battery supply chains. However, some of the battery manufacturers are constantly implementing tactful strategies such as collaborations and partnerships to obtain a leading-edge in the global industry.
The report segments the global metal-air battery market into metal, voltage, application, and region.
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Lithium Metal Sub-Segment to Observe Highest Growth
Among metal segment, the lithium metal sub-segment is anticipated to dominate the market by undergoing constant growth during the forecast period. This is mainly because of the widespread use of lithium metal in the production of metal-air batteries because of its high energy density.
Low Voltage Sub-Segment to Lead the Market
Among voltage segment, the low voltage sub-segment is expected to dominate the market by registering a CAGR of 14.8% during the forecast period. This growth is mainly owing to growing usage of low voltage batteries in miniature electronic devices such as hearing aids, lightings, watches, and others.
Asia-Pacific Region to Dominate the Market
The report analyzes the global metal-air battery market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market had attained a highest market share by garnering $444,747.6 thousand in 2019 and is anticipated to continue holding a leading position in the global market during the estimated timeframe. This is mainly owing to growing adoption of electric vehicles, renewable sources of energy, and growing consumer electronics industries in this region.
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Major Players in the Market
The report lists some of the foremost players active in the in the global metal-air battery industry including -
- NantEnergy Inc.
- Arconic
- Arotech Corporation
- Fuji Pigment Co., Ltd.
- Zinc8 Energy Solutions Inc.
- PHINERGY
- POLY PLUS
- E-Stone Batteries B.V.
- GPB International Limited
- Log 9 Materials
The report also caters numerous industry-top tactics and approaches like top strategic moves & developments, product/service range, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in January 2021, Thunderzee, a company involved in the design and development of battery restoration, energy storage, and super battery technologies, invented a groundbreaking zinc air battery that not only eradicates the threat of fire that is usually seen in lithium-ion batteries but also is light weight, cost-effective, environment friendly, and offers more energy.
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