Redding, California, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Zinc–air Battery Market by Type (Primary Type, Secondary Type), Voltage Type (Up to 12 V, 12 V to 36 V, More than 36 V), Application, and Geography - Global Forecast to 2030”, the global Zinc–air batteries market is projected to reach $ 223.7 million by 2030, at a CAGR of 7.8% from 2023 to 2030.
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The growth of this market is attributed to the increasing R&D in Zinc–air batteries and rising investments by leading manufacturers due to the economic advantages of Zinc–air batteries. Furthermore, the rising demand for Zinc–air batteries for hearing aids and electronic devices and the growth in demand for higher energy-density storage solutions are expected to create significant opportunities for the players operating in this market.
Anode corrosion is one of the most common phenomena in Zinc–air batteries affecting battery performance. Such performance issues pose a serious challenge for the Zinc–air battery adoption. Additionally, the health concerns owing to mercury restrain this market’s growth.
The Impact of COVID-19 on the Global Zinc–air Battery Market
The spread of COVID-19 resulted in huge casualties and heavy economic losses. The pandemic severely impacted several sectors, including the automotive sector, with major manufacturers shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. Uncertainty regarding the duration of the lockdown and supply-chain disruptions made it difficult for players to anticipate the Zinc–air battery market's recovery. The COVID-19 crisis caused structural shifts severely impacted this market.
Major applications of Zinc–air batteries include hearing aids, alarm system batteries, electric fencing, energy storage, IoT wearables, LED lamps, military, and railway & road traffic signaling, among others. The adoption of Zinc–air batteries for alarm systems, electric fencing, energy storage and railway & road traffic signaling was hampered due to worldwide disruption of mobility, manufacturing processes, and lowered trespassing.
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The global Zinc–air batteries market is segmented based on type, voltage type, application, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on type, the global Zinc–air batteries market is segmented into primary type and secondary type. In 2023, the primary type segment is expected to account for the largest share of the Zinc–air batteries market. The large market share of the segment is attributed to the easy-to-maintain, environment-friendly, leak-proof, and cost-effective features of primary Zinc–air batteries. These batteries are widely adopted in consumer electronic devices such as wearable devices and remote controls, which, in turn, strengthens the growth of this market. However, the secondary type segment is projected to register the highest CAGR during the forecast period. The segment's high growth is attributed to its high shelf life and durability. Rechargeable Zinc–air batteries have multiple applications, ranging from small-scale devices to large vehicles. These batteries are also known for their durability, reliability, and output generation.
Based on voltage type, the global Zinc–air batteries market is segmented into up to 12 V, 12 V to 36 V and more than 36 V. In 2023, the up to 12 V segment is expected to account for the largest share of the Zinc–air batteries market. The large market share of this segment is attributed to the rising demand for low-voltage Zinc–air batteries for various applications, including hearing aids and LED lamps.
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Based on application, the global Zinc–air battery market is segmented into hearing aids, alarm system batteries, electric fencing, energy storage, IoT wearables, LED lamps, military, railway & road traffic signaling and others. In 2023, the hearing aids segment is expected to account for the largest share of the Zinc–air batteries market. The large market share of this segment is attributed to the increasing incidence of hearing loss in developing nations. However, the energy storage segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global Zinc–air batteries market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the Zinc–air batteries market. The large share of this region is attributed to the growing adoption of Zinc–air batteries in electric vehicles, especially in electric cars. Zinc–air batteries have high volumetric energy density and specific energy, are safe, and reduce hazards. Asia-Pacific is a major market as the region is considered a manufacturing hub for a significant portion of global electronics. However, Europe is projected to register the highest CAGR during the forecast period.
Some of the key players operating in the global Zinc–air battery market are Energizer Holdings, Inc. (U.S.), ENZINC, INC. (U.S.), The Duracell Company (U.S.), ZAF Energy Systems, INC (U.S.), Electric Fuel Battery Corporation (U.S.), Iskra (Solvenia), VARTA AG (Germany), Renata AG SA (Switzerland), AZA Battery (Belgium), Phinergy Ltd. (Israel), ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd. (China), Zinc8 Energy Solutions Inc. (Canada), and GPB International Limited (China).
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Scope of the Report
Zinc–air Battery Market, by Type
- Primary Type
- Secondary Type
Zinc–air Battery Market, by Voltage Type
- Up to 12 V
- 12 V to 36 V
- More than 36 V
Zinc–air Battery Market, by Application
- Hearing Aids
- Alarm System Batteries
- Electric Fencing
- Energy Storage
- Backup Power
- On-grid Integration with Renewable
- Off-grid Energy Storage
- IoT Wearables
- LED Lamps
- Military
- Railway & Road Traffic Signaling
- Other Applications
Zinc–air Battery Market, by Geography
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Singapore
- Rest of Asia-Pacific (RoAPAC)
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa (RoMEA)
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