CHICAGO, Sept. 20, 2022 /PRNewswire/ -- Metal-air Battery Market is projected to grow from USD 498 million in 2022 to USD 993 million by 2027, at a CAGR of 14.8% during the forecast period, according to a new report by MarketsandMarkets. The escalated need for high energy density solutions and the inherent properties of metal-air batteries are key factors boosting the growth of the market.
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By metal, zinc segment is estimated to lead metal-air battery market in 2022.
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 replenishing the zinc anode and electrolyte. Zinc-air batteries with high volume energy densities have the advantage of low cost and high safety. Electronic devices are expected to continue to lead the global zinc-air battery market during the forecast period. Non-rechargeable zinc-air batteries are popular for their high energy density. Developments carried out by market participants in rechargeable zinc-air batteries could make these batteries an ideal solution for other applications such as wearable devices and consumer electronics.
By application, electronic devices segment is estimated to account for largest market share during forecast period.
By application, the electronic devices segment accounted for the largest share of the metal-air battery market in 2021. Metal-air batteries are increasingly used in electronic devices due to 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.
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Asia Pacific estimated to lead metal-air battery market from 2022 to 2027.
Asia Pacific is estimated to account for the largest share of the metal-air battery market in 2022 owing to technological advancements in the wearable device and consumer electronics sectors in this region. The major manufacturers of wearable devices and consumer electronics based in the region, such as Samsung (South Korea), LG Electronics (South Korea), and Panasonic (Japan), are developing next-generation flexible devices. These devices require power sources that are not only small but also have high energy density to complement the product design; these requirements are fulfilled by metal-air batteries.
GP Batteries International (Hong Kong), Arotech Corporation (US), Energizer Holdings (US), Duracell (US), and Renata SA (Switzerland) are major players in the metal-air battery market globally.
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