Pune, India, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The global Metal-air Battery Market was USD 431.49 million in 2020. The global market size to be grow from USD 445.04 million in 2021 and is projected to reach USD 744.66 by 2028, exhibiting a CAGR of 7.6% during the forecast period from 2021-2028. This information is provided by Fortune Business Insights, in its report, titled, “Metal-air Battery Market, 2021-2028.”
According to our analysts, the high applications in eco-friendly energy saving devices to drive market growth. Compettoitive advantage over alternatives to help Metal-air Battery market reach USD 744.66 million by 2028.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 7.6% |
| 2028 Value Projection | USD 744.66 million |
| Base Year | 2020 |
| Market Size in 2020 | USD 431.49 million |
| Historical Data for | 2017-2019 |
| No. of Pages | 180 |
| Segments covered | By Metal, By Type, By Application, and By Region |
| Growth Drivers | Evident Shift toward Renewable Energy Resources to Drive Growth |
| Increasing Adoption of Electric Vehicles to Boost Demand in Asia Pacific |
COVID-19 Impacts:
COVID-19 Influence on Global Metal-air Battery Market to Hamper Growth
The outbreak of COVID-19 has hindered the growth of the Metal-air Battery market. The novel coronavirus has restrained the distribution of batteries. The vital battery component is mostly obtainable in Asia Pacific, but the pandemic has over-exposed the reliability of raw materials on the region.
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Drivers and Restraints:
Evident Shift Toward Renewable Energy Resources to Drive Growth
According to the International Energy Agency (IEA), electricity generation through renewable resources had increased by 6% in 2019. Wind and solar technologies contributed nearly 64% of the increased value. Clean energy has become a necessity for the world for a couple of reasons. Firstly, we are running out of fossil fuels and secondly extensive use of such type results in a high rate of carbon emission, which is not adequate in the current circumstances. Governments, major enterprises, and other organizations are rapidly focusing on solar energy as a primary resource. For instance, the Yanchi Solar Park in China, which has been operational since 2016, produces an output of 820 MW.
Such plants require high-capacity batteries in order to store energy. Hence, the increasing adoption of renewable energy sources is anticipated to drive the demand for metal air battery. However, they are still in the development stage and are more expensive than other alternatives due to the type of metal involved, which adds the extra cost.
In addition, their alternatives, such as lithium-ion batteries, have high utilization in various end-user industries, especially in the consumer electronics space, due to their light weight and low self-discharge rate. Such factors are anticipated to restrain the market growth.
Industry Developments:
February 2020: Indian Oil Corporation Limited, a public sector oil and gas company headquartered in New Delhi, India, partnered with Phinergy, an Israeli start-up specialized in metal air battery systems such as aluminum-air/zinc systems. Under this partnership, the companies will develop metal air batteries for use in EVs.
List of Key Players Mentioned in the Report:
- Phinergy (Israel)
- NantEnergy (United States)
- Log 9 Materials (India)
- Arotech Corporation (United States)
- PolyPlus (United States)
- Fuji Pigment Co. Ltd. (Japan)
- Zinc8 Energy Solutions (Canada)
- GP Batteries (Hong Kong)
- ZAF Energy Systems Inc. (ZAFSYS) (United States)
- Thunderzee (United States)
- Duracell Inc. (United States)
- Energizer Holdings (United States)
- Panasonic (Japan)
- Epsilor Electric Fuel (Israel)
- Renata S.A. (Switzerland)
- ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd. (China)
- Guangdong Tianqju Electronics Technology Co., Ltd (China)
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Segments:
We have categorized the market on the basis of metal, application, and region. In terms of metal, the market is divided into zinc-air, lithium-air, aluminum-air, iron-air, and others.
Based on application, it is fragmented into electric vehicles (EV), stationary power, military devices, and electronic devices.
Based on region, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
Key Benefits for Metal-air Battery Market:
- The Metal-air Battery market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the Metal-air Battery market during the forecast period (2022–2028).
- The report outlines the current market trends and future scenario of the global Metal-air Battery market to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
Regional Insights:
Increasing Adoption of Electric Vehicles to Boost Demand in Asia Pacific
Asia Pacific is anticipated to dominate the metal air battery market share during the forecast period. The increasing adoption of electric vehicles in countries including China and Japan is estimated to accelerate the demand for metal air batteries in the region. For instance, according to the International Energy Agency, China contributed 45% of the total electric vehicles manufactured worldwide in 2018. In addition, the high presence of key electronics manufacturers in the region is predicted to enhance the market growth.
North America is projected to hold the second-largest market share. Major enterprises are focusing on the development of optimum metal air batteries. This is expected to drive the market in the region.
Competitive Landscape:
Developing innovative Products to Help Industry Leaders Find New Applications
The market for metal air battery comprises industry leaders, manufacturers, and several scientist groups that are focused on exploring new methods of utilizing metal-air batteries. For instance, in April 2020, the Institute of Nano Science and Technology (INST) announced the development of an effective and economical electro-catalyst with the help of fish gills. The new catalyst aids in the development of eco-friendly energy-saving devices. It can also help enterprises overcome the issues regarding renewable energy storage technologies.
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Global Metal-air Battery Market Size Segmentation:
By Metal
- Zinc-Air
- Aluminum-Air
- Lithium-Air
- Iron-Air
- Others
By Application
- Electric Vehicle (EV)
- Stationary Power
- Military Equipment
- Electronic Devices
By Type
- Primary
- Secondary/Rechargeable
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Metal Air Battery Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Metal Air Battery Market Analysis (USD Million), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Metal
- Zinc-Air
- Aluminum-Air
- Lithium-Air
- Iron-Air
- Others
- Market Analysis, Insights and Forecast – By Type
- Primary
- Secondary/Rechargeable
- Market Analysis, Insights and Forecast – By Application
- Electronic Vehicle (EV)
- Stationary Power
- Military Devices
- Electronics
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Metal Air Battery Market Analysis (USD Million), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Metal
- Zinc-Air
- Aluminum-Air
- Lithium-Air
- Iron-Air
- Others
- Market Analysis, Insights and Forecast – By Type
- Primary
- Secondary/Rechargeable
- Market Analysis, Insights and Forecast – By Application
- Electronic Vehicle (EV)
- Stationary Power
- Military Devices
- Electronics
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
Continued…
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