Zinc–Air Battery Market Growth Forecast: $223.7 Million by 2030
Meticulous Research® has released its latest report, ‘Zinc–air Battery Market by Type (Primary Type, Secondary Type), Voltage Type (Up to 12 V, 12 V to 36 V, More than 36 V), Application, and Geography - Global Forecast to 2030.’
The report highlights that the zinc-air battery market is on track to reach a valuation of $223.7 million by 2030, growing at a CAGR of 7.8% from 2024. This surge is attributed to increased R&D in zinc-air battery technology and rising investments by manufacturers. Economic advantages, such as cost efficiency and high energy density, are motivating this investment. The growing demand for zinc-air batteries in hearing aids and other electronic devices, along with a need for high-capacity storage solutions, offers new avenues for market expansion.
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Key Market Challenges
However, certain obstacles persist. Anode corrosion remains a prevalent issue affecting battery performance, posing challenges to widespread zinc-air battery adoption. Furthermore, health concerns related to mercury usage restrain market growth.
Market Structure and Segmentation
The global zinc-air battery market is analyzed by type, voltage, application, and geographical distribution. Additionally, the competitive landscape and regional market dynamics are scrutinized.
Type Segmentation Analysis
Zinc-air batteries are segmented into primary and secondary types. In 2024, the primary type is anticipated to hold the largest market share, thanks to its eco-friendly, leak-proof, and cost-effective characteristics. Its adoption in consumer electronics like wearable devices and remote controls strengthens its market dominance.
Voltage-Based Segmentation
By voltage type, the market is split into up to 12 V, 12 V to 36 V, and more than 36 V. The up-to-12 V segment is set to command the largest market share in 2024, fueled by its use in low-voltage applications such as hearing aids and LED lighting.
Application-Based Market Insights
The report categorizes applications into hearing aids, alarm systems, electric fencing, energy storage, IoT wearables, and more. Hearing aids are expected to account for the largest share in 2024, due to the rising incidence of hearing impairment in emerging markets.
Regional Market Breakdown
Regionally, the zinc-air battery market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is forecasted to dominate the market in 2024, attributed to increased adoption of zinc-air batteries in electric vehicles. The region's status as an electronics manufacturing hub further boosts market potential.
Key Players :
The key players profiled in the global Zinc–air battery market study include Energizer Holdings, Inc. (U.S.), ENZINC, INC. (U.S.), The Duracell Company (U.S.), ZAF Energy Systems, INC (U.S.), Electric Fuel Battery Corporation (U.S.), Iskra (Solvenia), VARTA AG (Germany), Renata AG SA (Switzerland), AZA Battery (Belgium), Phinergy Ltd. (Israel), ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd. (China), Zinc8 Energy Solutions Inc. (Canada), and GPB International Limited (China).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in type, voltage type, application, and geography?
- What is the historical market size for Zinc–air battery across the globe?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, and challenges in the global Zinc–air battery market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global Zinc–air battery market?
- What are the recent developments in the global Zinc–air battery market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global Zinc–air battery market, and how do they compete with other players?
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