Chicago, IL, Jan. 03, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report 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” in its research database.
“According to the latest research study, the demand of global Zinc-Air Batteries Market size & share in terms of revenue was valued at USD 111.5 million in 2021 and it is expected to surpass around USD 128.5 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.5% during the forecast period 2022 to 2030.”
What are Zinc-Air Batteries? How big is the Zinc-Air Batteries Industry?
Zinc-Air Batteries Report Coverage & Overview:
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.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
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- Zion Market Research research methodology
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Global Zinc-Air Batteries Market: Growth Dynamics
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.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 111.5 million |
| Projected Market Size in 2030 | USD 128.5 million |
| CAGR Growth Rate | 8.5% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Berkshire Hathaway, Duracell, Inc., Energizer Holdings, Inc., GP Batteries International Ltd., Panasonic Energy Europe NV, Renata SA, Sony Electronics, Inc., Spectrum Brands, Inc., and VARTA Microbattery GmbH., Konnoc, and Rayovac (Spectrum). |
| Key Segment | By Type, By End Use Industry, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Zinc-Air Batteries Market: Segmentation Analysis
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 segmented as follows:
By Type
- Rechargeable
- Non-rechargeable
By End Use Industry
- Military devices
- Hearing Aids
- Safety Lamps
- Medical devices
- Energy Storage
- Others
Browse the full “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
Competitive Landscape
Some of the main competitors dominating the global Zinc-Air Batteries market include –
- Berkshire Hathaway
- Duracell Inc.
- Energizer Holdings Inc.
- GP Batteries International Ltd.
- Panasonic Energy Europe NV
- Renata SA
- Sony Electronics Inc.
- Spectrum Brands Inc.
- VARTA Microbattery GmbH.
- Konnoc
- Rayovac (Spectrum)
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Zinc-Air Batteries market is likely to expand at a CAGR of around 8.5% during the forecast period (2022-2030).
- In terms of revenue, the Zinc-Air Batteries market size was valued at around US$ 111.5 million in 2021 and is projected to reach US$ 128.5 million by 2030.
- The global zinc-air batteries market may grow owing to the rising trend of the biomedical industry.
- Based on end-use industry hearing aids segment was predicted to show maximum market share in the year 2021
- On the basis of region, Asia-Pacific was the leading revenue generator in 2021.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Zinc-Air Batteries industry?
- What are the main driving factors propelling the Zinc-Air Batteries Market forward?
- What are the leading companies in the Zinc-Air Batteries Industry?
- What segments does the Zinc-Air Batteries Market cover?
- How can I receive a free copy of the Zinc-Air Batteries Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Type, By End Use Industry, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
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.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In September 2022, Canada’s Zinc8 Company expanded its business by opening zinc-air batteries production unit in the U.S. market. This strategic product launch has widened the company’s product portfolio for zinc-air batteries.
- In April 2021, Phinergy signed a memorandum of understanding with Green Energy Company Doral for energy storage projects. The company is responsible for the training, replacement, installation, and operation of zinc-air technology with Doral’s energy facility.
To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/zinc-air-batteries-market
FREQUENTLY ASKED QUESTIONS
- Which key factors will influence zinc-air batteries market growth over 2022-2030?
Robust shift for energy storage batteries and growing production rate of medical devices especially hearing aids will drive the market.
- What will be the value of the zinc-air batteries market during 2022-2030?
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.
- Which region will contribute notably towards the zinc-air batteries market value?
The global zinc-air batteries market growth is expected to be driven by Asia-Pacific. It is currently the world’s highest revenue-generating market owing to the presence of key players in China and India.
- Which are the major players leveraging the zinc-air batteries market growth?
Berkshire Hathaway, Duracell, Inc., Energizer Holdings, Inc., GP Batteries International Ltd., Panasonic Energy Europe NV, Renata SA, Sony Electronics, Inc., Spectrum Brands, Inc., and VARTA Microbattery GmbH., Konnoc, and Rayovac (Spectrum).
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