The global Breathing Battery Market is estimated to be valued at US$ 19.39 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Breathing batteries are rechargeable batteries that can recharge themselves without any external energy source by harvesting energy from ambient CO2 in air through a process known as the zinc-air fuel cell reaction. These batteries have advantages such as high energy density, low cost, and being environmentally friendly.
Market key trends:
One of the major trends in the breathing battery market is the increasing adoption of these batteries for portable power applications owing to their high energy density which offers long lasting backup without the need for frequent recharging. Portable power has emerged as the largest application segment in the breathing battery market as these batteries can power devices such as hearing aids, watches, laptops, smartphones for extended periods without charging and offer greener and more sustainable solution compared to conventional lithium-ion batteries.
The breathing battery market is witnessing growing adoption of zinc-air batteries across various applications. Zinc-air batteries are gaining prominence due to their high energy density and ability to produce electricity through catalyzed reaction between zinc and oxygen from ambient air. These batteries find wide usage in applications requiring intermittent power such as wireless sensors and are being evaluated for large-scale energy storage for renewable energy sources. Industries are also exploring zinc-air batteries as a sustainable alternative to lithium-ion batteries used in electronic vehicles.
SWOT Analysis
Strength: High energy density and lightweight of zinc-air batteries compared to other counterparts. No recharging required as the zinc fuel is replenished.
Weakness: Short shelf life and self-discharge rate. Requires continuous replacement of zinc component leading to high operational cost.
Opportunity: Rising deployment of renewable energy and need for large-scale energy storage. Increasing research towards improving cycle life of zinc-air batteries.
Threats: Strong competition from established lithium-ion batteries. Issues related to sourcing of zinc and manufacturing complexity.
Key Takeaways
The Global Breathing Battery Market Size is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand for sustainable energy storage solutions.
Regional analysis: North America dominated the breathing battery market in 2023 and is expected to remain the major revenue contributing region during the forecast period. This is attributed to presence of leading battery technology developers and early adoption of advanced batteries for consumer as well as grid-scale storage applications in the region. Asia Pacific is anticipated to witness fastest growth owing to rapidly expanding renewable energy sector and increasing research funding in China, Japan and South Korea.
Key players operating in the breathing battery market are IBM Corporation, Zinc8 Energy Solutions Inc., PolyPlus Battery Company, Panasonic, Tesla, Fuji Pigment, and Breathe Battery Technologies Limited. Zinc8 Energy Solutions and IBM are focusing on developing next-generation zinc-air batteries with enhanced energy and power density for utilities and industrial energy storage.
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