Growing demand for clean energy solutions and the rising
investments in research and development of zinc-air batteries are
anticipated to drive the growth of the global zinc-air battery
market during the forecast period. The Asia-Pacific region is expected to observe
significant growth during the forecast period.
PORTLAND, Ore., April 17, 2024 /PRNewswire/ -- Allied Market
Research has recently published a report, titled, "Global
Zinc-Air Battery Market Size, Share, Competitive Landscape and
Trend Analysis Report by Type (Non-Rechargeable, Rechargeable), by
Application (Hearing Aids, Safety Lamps, Military Devices, Others):
Global Opportunity Analysis and Industry Forecast, 2023-2032".
According to the report, the global zinc-air battery market
generated $350.2 million in 2022, and
is anticipated to generate $521.1
million by 2032, witnessing a CAGR of 4.2% from 2023 to
2032.
Download PDF Brochure:
https://www.alliedmarketresearch.com/request-sample/A50137
Prime Determinants of Growth
The increasing demand for clean energy solutions and the rising
investments in research and development of zinc-air batteries are
driving the growth of the zinc-air battery market. However, rising
challenges associated with power density and electrolyte
evaporation are restraining the growth of the zinc-air battery
market. On the other hand, continuous advancements in technology
and increasing government support for environmentally friendly
energy alternatives are expected to unlock rewarding growth
opportunities in the global zinc-air battery market during the
forecast period.
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$350.2
million
|
Market Size in
2032
|
$521.1
million
|
CAGR
|
4.2 %
|
No. of Pages in
Report
|
310
|
Segments
covered
|
Type, Application, and
Region
|
Drivers
|
Increasing demand for
clean energy storage solutions
Growing investments in research and development for zinc-air
battery technology
|
Opportunities
|
Expansion of
applications in grid energy storage and renewable energy
integration
Rising government
support and incentives for environmentally friendly energy
alternatives
|
Restraints
|
Challenges related to
power density limitations in zinc-air batteries
|
COVID-19 Scenario:
- The COVID-19 pandemic significantly impacted the global
zinc-air battery market. The pandemic increased the demand for
energy storage solutions, driving growth in the global market.
- Rising awareness of clean energy and sustainability during the
pandemic boosted research efforts and technological advancements in
the market.
- Supply chain disruptions caused by the pandemic temporarily
restrained market growth. Government initiatives aimed at promoting
clean energy technologies drove market growth amidst the challenges
posed by the pandemic.
Procure Complete Report (310 Pages PDF with Insights, Charts,
Tables, and Figures) @
https://www.alliedmarketresearch.com/checkout-final/zinc-air-battery-market
Type: Non-rechargeable Sub-Segment Anticipated to Hold
Leading Market Share by 2032
The non-rechargeable sub-segment dominated the market in 2022,
holding a major share of 68.5%. This sub-segment is expected to
hold a leading market share of 67.2% by 2032. This growth is mainly
due to the increasing demand for long-lasting battery solutions in
applications such as emergency equipment and remote sensors,
boosting its market share. Additionally, the unique design of
non-rechargeable zinc-air batteries, allowing them to remain
inactive for extended periods without deterioration, contributed to
their rising popularity in various sectors.
Application: Hearing Aids Sub-Segment Anticipated to Grow
with Highest CAGR by 2032
The hearing aids sub-segment led the market in 2022, holding a
substantial share of 83.9%. This dominance is expected to continue
till 2032, growing with a CAGR of 4.4%. The growth of the
sub-segment is mainly because of the increasing demand for hearing
aids driven by the rising prevalence of hearing impairments and
technological advancements boosting product innovation.
Additionally, the rising aging population worldwide is driving the
demand for hearing aids, further propelling the growth of this
sub-segment.
By Region: Asia-Pacific Estimated to Dominate the Market in
Forecast Period
The Asia-Pacific region
dominated the global zinc-air battery market in 2022, holding a
major share of 36.7%. The dominance of this region is expected to
continue by rising with a CAGR of 4.7% in the forecast period. This
is mainly due to increasing demand for energy storage solutions in
the region. Additionally, rising investments in research and
development and supportive government policies are boosting the
adoption of zinc-air batteries across various industries in
Asia-Pacific.
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Leading Players in the Zinc-air Battery Market:
- Phinenergy
- Electric Fuel Battery Corporation
- Ravoyac
- Duracell
- GP Batteries International Limited
- Renata SA
- Thunderzee
- Nantenergy
- ZAF Energy Systems
- VARTA AG
The report provides a detailed analysis of the key players of
the global zinc-air battery market. These players have adopted
different strategies, such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain their dominance in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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