The global metal-air battery market size is estimated to grow from USD 438 million in 2020 to USD 842 million by 2025; it is expected to grow at a CAGR of 14.0%. One of the factors fueling the growth of this market is the rising demand for high-density and eco-friendly energy storage solutions.
A metal-air battery uses a metal such as zinc, aluminum, or lithium for the anode, air as the cathode (that is taken in from the environment), and usually a liquid electrolyte. Researchers and companies have been keenly interested in the development and advancement of metal-air batteries because these batteries offer high-energy density, are eco-friendly, and use air as the cathode (oxygen is free, abundant, and does not require an additional heavy casing to keep it inside a battery cell).
Based on metal, the zinc-air segment held the largest share of the metal-air battery market in 2019. Zinc-air batteries have high energy density but low power. These batteries are generally primary batteries however, rechargeable designs for high-power applications are being developed that can be recharged by physically replacing the zinc electrodes. Non-rechargeable zinc-air batteries are popular for their high energy density. The demand for such batteries in low-mass, high-value applications such as hearing aids and watches is expected to drive their market from 2020 to 2025.
Based on voltage, the low voltage (below 12V) segment held the largest share of the metal-air battery market in 2019. The growing demand for low-voltage metal-air batteries for their use in various electronic devices coupled with the increasing number of applications for these batteries, such as communication devices is expected to drive their segmental growth during the forecast period. Metal-air batteries with voltage below 12 V are lightweight and smaller than batteries with other voltage ranges.
Based on application, electronic devices generate the highest demand for metal-air batteries. It holds the largest share of the metal-air battery market and is expected to continue to do so during the forecast period. Rising acceptance for these batteries in electronic devices is driven by the increased demand for safe, eco-friendly, cost-effective, and efficient energy storage solutions. Metal-air batteries are in high demand for electronic devices such as hearing aids and watches because they offer better durability and more energy storage than other batteries.
Asia Pacific accounted for the largest share of the metal-air battery market and is expected to do so during the forecast period. The high number of metal-air energy storage system installations in the region, especially in Indonesia and the high number of sales of electronic devices that use zinc-air batteries, attribute to the dominating position of the region in the metal-air battery market. The strong growth of electronics and automotive industries in the region is likely to offer growth potential to the metal-air battery market.
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