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EN24019192 |
Pages: 290 |
Jan 2024 |
Zinc-air battery represents the ongoing advancement of energy storage technologies, providing a viable answer to the ever-increasing demand for efficient and sustainable power sources. This novel electrochemical system generates electrical energy through the interaction of zinc and oxygen, offering a distinct and environmentally beneficial alternative to traditional batteries. Zinc-air battery has emerged as a leader in the battle to produce high-performance, cost-effective, and scalable energy storage options as society shifts towards renewable energy and greener alternatives. Zinc-air battery works on redox processes, in which the chemical transformation of zinc and oxygen powers the creation of electrical current.
Zinc-air batteries' applicability extends beyond consumer electronics. As the globe strives to incorporate more renewable energy sources into the electricity system, effective energy storage becomes increasingly important. Zinc-air batteries have the potential to play an important part in this transformation by delivering scalable and cost-effective grid energy storage technologies. The recurrent nature of renewable energy sources such as solar and wind may be reduced by using zinc-air batteries to store extra energy during high-generation periods for usage during low-generation periods.
The global zinc-air battery market size was $350.2 million in 2022 and is predicted to grow with a CAGR of 4.2%, by generating a revenue of $521.1 million by 2032.
Source: Research Dive Analysis
The COVID-19 pandemic had a mixed impact on the global zinc-air batteries industry. Zinc-air batteries, are recognized for their high energy density and prospective use in electric vehicles (EVs) and renewable energy storage. Supply chain interruptions induced by lockdowns and limitations led to considerable obstacles in the market. The pandemic, on the contrary, highlighted the significance of robust and sustainable energy solutions, leading to increasing interest in renewable technology such as zinc-air batteries. The interruptions in the supply chain had an impact on the manufacturing of critical components used in zinc-air batteries.
Zinc, a critical component in these batteries, experienced difficulties in mining, refining, and shipping, resulting in shortages and price increases. Mine and industrial facility closures during lockdowns hampered the supply of raw materials required for zinc-air battery manufacture. This, in turn, caused manufacturing delays, disrupting the broader supply chain, and producing a ripple effect across the sector. Furthermore, international trade and travel limitations hindered the global distribution network for zinc-air batteries and related components. The logistics of shipping of batteries and supplies across borders became increasingly challenging, creating project delays and hindering the sector's progress.
High energy density in zinc-air batteries makes them more efficient and long-lasting energy storage options. As the globe shifts toward renewable energy sources, the intermittent nature of renewable power generation, such as solar and wind, needs improved energy storage technology capable of storing surplus energy during peak generation times for usage during low or non-generating periods. Zinc-air batteries, with their high energy density potential, stand out as a possible alternative to meet this need and bridge the gap between energy generation and consumption. Zinc-air batteries' chemistry contributes greatly to their high energy density. To create electrical energy, these batteries rely on an electrochemical interaction between zinc and oxygen.
Zinc oxidizes at the anode during discharge, release electrons and create zinc oxide. Meanwhile, oxygen from the air combines with water at the cathode, producing hydroxyl ions. Overall, the process generates electrical energy, water, and zinc oxide. Because of the availability of zinc and oxygen, this reversible mechanism, known as the zinc-oxygen redox reaction, allows for high energy density, making these batteries lightweight and small. The advantages of high energy density of zinc-air batteries extend across several industries, including transportation, grid storage, and portable devices. The automobile sector is particularly interested in the potential of zinc-air batteries to improve the range and efficiency of electric vehicles (EVs). These are the major factors projected to boost the market growth during the forecast period.
The adaptability of zinc-air batteries toward environmental conditions is a key constraint. These batteries create energy through the interaction of zinc and oxygen, and any change in air conditions can affect their effectiveness. Moisture and carbon dioxide in the air can disrupt electrochemical processes, resulting in lower efficiency and overall dependability. This sensitivity is a difficulty, particularly in applications where the batteries are subjected to changing environmental conditions, such as outdoor renewable energy systems. Furthermore, zinc-air batteries are prone to contamination due to their open-cell architecture. The air cathode's porous nature allows dust, pollutants, and other particulate matter to enter the cell, potentially producing short circuits and lowering the battery's overall performance. This problem is worsened in industrial settings or areas with high quantities of airborne particles, restricting the use of zinc-air batteries in specific conditions. One noteworthy safety issue is the risk of the dendritic development. Dendrites are small, finger-like projections that form on the zinc electrode because of repeated charge and discharge cycles. If these dendrites span the anode-cathode gap, they can cause a short circuit, resulting in thermal runaway and, in severe situations, fire or explosion. This phenomenon is extremely dangerous, especially in applications where batteries are subjected to regular cycling, such as electric automobiles.
Zinc-air batteries are gaining popularity due to the inherent benefits they have over regular lithium-ion batteries. One of its key advantages is their high energy density. Zinc-air batteries have a higher energy density than lithium-ion competitors, allowing for greater driving range in electric vehicles. This benefit addresses a significant problem for both customers and companies, assisting in overcoming ‘range anxiety’ associated with electric vehicles and further broadening their market appeal. Another major factor driving the use of zinc-air batteries is their low cost. These batteries' ingredients, notably zinc, are abundant and affordable, making them a more cost-effective alternative to the more expensive components found in lithium-ion batteries. This cost advantage has the potential to drastically cut the entire manufacturing cost of EVs, making them more affordable to a wider range of consumers. As governments and companies throughout the world continue to encourage environmentally friendly transportation, the low cost of EVs powered by zinc-air batteries might accelerate a rapid growth in market share. The long-term viability of zinc-air batteries increases their position in the EV industry. Zinc-air batteries, unlike certain lithium-ion batteries, are naturally more ecologically beneficial since they do not rely on uncommon and hazardous minerals. Zinc is a widely accessible and recyclable material that aligns with the global trend for more environmentally friendly energy alternatives. This feature not only decreases EVs' environmental imprint but also coincides with both manufacturers' and consumers' sustainability objectives.
Source: Research Dive Analysis
The non-rechargeable sub-segment accounted for the highest market share in 2022. The cost-effectiveness of non-rechargeable zinc-air batteries is a fundamental benefit. One of the key motivators for the adoption of zinc-air non-rechargeable batteries is the abundance and low cost of zinc. Zinc is a commonly accessible and affordable metal, making it an appealing candidate for large-scale battery manufacturing. This abundance serves to stabilize the supply chain and lower total production costs, making zinc-air batteries competitive.
Zinc-air batteries have a high energy density, which is important in portable and energy-demanding applications. Because of their high energy density, these batteries can store a great quantity of energy in a small space, making them perfect for devices where size and weight are important factors. This feature is especially useful in applications such as hearing aids, where longer battery life without frequent replacement is critical. Non-rechargeable batteries, especially zinc-air batteries, frequently have a low self-discharge rate. This implies that they can keep their stored energy for a lengthy period of time without experiencing considerable loss. This property makes them useful for applications where intermittent usage is widespread, such as hearing aids and backup power systems.
Source: Research Dive Analysis
The hearing aids sub-segment accounted for the highest market share in 2022. Zinc-air batteries allows for a more compact and lightweight construction in hearing aids. Traditional batteries require extra internal components for oxygen storage, which might increase battery size. Zinc-air batteries, on the contrary, utilize external air, allowing manufacturers to create sleek and invisible hearing aid systems that are comfortable to use and less noticeable to others. Zinc-air batteries have a steady voltage output during their lifetime, ensuring a continuous power supply to the hearing aid. This is critical for sustaining peak performance and providing individuals with hearing impairments with a consistent and clear sound experience.
The consistent voltage output of zinc-air batteries also reduces the likelihood of rapid power reductions, eliminating abrupt interruptions in hearing aid use. The simplicity of zinc-air batteries contributes greatly to the overall usability of hearing aids. These batteries are usually packaged with a cap that covers the air holes and keeps them fresh until the user activates them by removing the cap . This simple activation method makes battery replacement easier for users, especially those with mechanical challenges, making zinc-air batteries an accessible option for a wide variety of people.
Source: Research Dive Analysis
The Asia-Pacific zinc-air batteries market generated the highest revenue in 2022. The rising demand for effective energy storage alternatives to supplement variable renewable energy sources is one of the key drivers of the zinc-air battery market growth in Asia-Pacific. Renewable energy facilities, such as solar and wind farms, are rapidly expanding throughout the region. Zinc-air batteries offer a dependable and scalable alternative for storing surplus energy created during peak production periods, guaranteeing a stable and regular power supply even when renewable energy sources are not actively producing electricity.
As governments of various countries in Asia-Pacific step up efforts to minimize reliance on fossil fuels, zinc-air batteries emerge as a critical facilitator of the shift toward greener energy sources. These batteries can store extra energy provided by renewable sources, further helping to decarbonize the power industry. Zinc-air batteries play a critical role in meeting national and regional objectives for lowering greenhouse gas emissions by supporting the integration of sustainable energy solutions.
Acquisitions, mergers, and research and development (R&D) are common strategies followed by major market players. For instance, on January 12, 2021, Thunderzee invented a revolutionary zinc-air battery that not only eliminates the risk of fire that is commonly seen in lithium-ion batteries but also provides more energy, weighs less, costs less and is environmentally friendly. With 3 patents on file and more to follow, the zinc-air battery is ideal for a vast variety of consumer applications.
Source: Research Dive Analysis
Some of the leading zinc-air battery market players are Duracell, Electric Fuel Battery Corporation, ZAF Energy System, Ravoyac, Nantenergy, Varta AG, GP Batteries, Phinenergy, Renata SA, and Thunderzee.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Type |
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| Segmentation by Application |
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| Key Companies Profiled |
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1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
2. Report Scope
2.1. Market definition
2.2. Key objectives of the study
2.3. Market segmentation
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive Rivalry Intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Legal
4.6.6. Environmental
4.7. Impact of COVID-19 on zinc-air battery market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
5. Zinc-Air Battery Market Analysis, By Type
5.1. Overview
5.2. Non-rechargeable
5.2.1. Definition, key trends, growth factors, and opportunities
5.2.2. Market size analysis, by region, 2022-2032
5.2.3. Market share analysis, by country, 2022-2032
5.3. Rechargeable
5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2. Market size analysis, by region, 2022-2032
5.3.3. Market share analysis, by country, 2022-2032
5.4. Research Dive Exclusive Insights
5.4.1. Market attractiveness
5.4.2. Competition heatmap
6. Zinc-Air Battery Market Analysis, by Application
6.1. Overview
6.2. Hearing Aids
6.2.1. Definition, key trends, growth factors, and opportunities
6.2.2. Market size analysis, by region, 2022-2032
6.2.3. Market share analysis, by country, 2022-2032
6.3. Safety Lamps
6.3.1. Definition, key trends, growth factors, and opportunities
6.3.2. Market size analysis, by region, 2022-2032
6.3.3. Market share analysis, by country, 2022-2032
6.4. Military Devices
6.4.1. Definition, key trends, growth factors, and opportunities
6.4.2. Market size analysis, by region, 2022-2032
6.4.3. Market share analysis, by country, 2022-2032
6.5. Others
6.5.1. Definition, key trends, growth factors, and opportunities
6.5.2. Market size analysis, by region, 2022-2032
6.5.3. Market share analysis, by country, 2022-2032
6.6. Research Dive Exclusive Insights
6.6.1. Market attractiveness
6.6.2. Competition heatmap
7. Zinc-Air Battery Market, by Region
7.1. North America
7.1.1. U.S.
7.1.1.1. Market size analysis, by Type, 2022-2032
7.1.1.2. Market size analysis, by Application, 2022-2032
7.1.2. Canada
7.1.2.1. Market size analysis, by Type, 2022-2032
7.1.2.2. Market size analysis, by Application, 2022-2032
7.1.3. Mexico
7.1.3.1. Market size analysis, by Type, 2022-2032
7.1.3.2. Market size analysis, by Application, 2022-2032
7.1.4. Research Dive Exclusive Insights
7.1.4.1. Market attractiveness
7.1.4.2. Competition heatmap
7.2. Europe
7.2.1. Germany
7.2.1.1. Market size analysis, by Type, 2022-2032
7.2.1.2. Market size analysis, by Application, 2022-2032
7.2.2. UK
7.2.2.1. Market size analysis, by Type, 2022-2032
7.2.2.2. Market size analysis, by Application, 2022-2032
7.2.3. France
7.2.3.1. Market size analysis, by Type, 2022-2032
7.2.3.2. Market size analysis, by Application, 2022-2032
7.2.4. Spain
7.2.4.1. Market size analysis, by Type, 2022-2032
7.2.4.2. Market size analysis, by Application, 2022-2032
7.2.5. Italy
7.2.5.1. Market size analysis, by Type, 2022-2032
7.2.5.2. Market size analysis, by Application, 2022-2032
7.2.6. Rest of Europe
7.2.6.1. Market size analysis, by Type, 2022-2032
7.2.6.2. Market size analysis, by Application, 2022-2032
7.2.7. Research Dive Exclusive Insights
7.2.7.1. Market attractiveness
7.2.7.2. Competition heatmap
7.3. Asia-Pacific
7.3.1. China
7.3.1.1. Market size analysis, by Type, 2022-2032
7.3.1.2. Market size analysis, by Application, 2022-2032
7.3.2. Japan
7.3.2.1. Market size analysis, by Type, 2022-2032
7.3.2.2. Market size analysis, by Application, 2022-2032
7.3.3. India
7.3.3.1. Market size analysis, by Type, 2022-2032
7.3.3.2. Market size analysis, by Application, 2022-2032
7.3.4. Australia
7.3.4.1. Market size analysis, by Type, 2022-2032
7.3.4.2. Market size analysis, by Application, 2022-2032
7.3.5. Indonesia
7.3.5.1. Market size analysis, by Type, 2022-2032
7.3.5.2. Market size analysis, by Application, 2022-2032
7.3.6. Rest of Asia-Pacific
7.3.6.1. Market size analysis, by Type, 2022-2032
7.3.6.2. Market size analysis, by Application, 2022-2032
7.3.7. Research Dive Exclusive Insights
7.3.7.1. Market attractiveness
7.3.7.2. Competition heatmap
7.4. LAMEA
7.4.1. Brazil
7.4.1.1. Market size analysis, by Type, 2022-2032
7.4.1.2. Market size analysis, by Application, 2022-2032
7.4.2. UAE
7.4.2.1. Market size analysis, by Type, 2022-2032
7.4.2.2. Market size analysis, by Application, 2022-2032
7.4.3. South Africa
7.4.3.1. Market size analysis, by Type, 2022-2032
7.4.3.2. Market size analysis, by Application, 2022-2032
7.4.4. Argentina
7.4.4.1. Market size analysis, by Type, 2022-2032
7.4.4.2. Market size analysis, by Application, 2022-2032
7.4.5. Rest of LAMEA
7.4.5.1. Market size analysis, by Type, 2022-2032
7.4.5.2. Market size analysis, by Application, 2022-2032
7.4.6. Research Dive Exclusive Insights
7.4.6.1. Market attractiveness
7.4.6.2. Competition heatmap
8. Competitive Landscape
8.1. Top winning strategies, 2022
8.1.1. By strategy
8.1.2. By year
8.2. Strategic overview
8.3. Market share analysis, 2022
9. Company Profiles
9.1. Duracell
9.1.1. Overview
9.1.2. Business segments
9.1.3. Product portfolio
9.1.4. Financial performance
9.1.5. Recent developments
9.1.6. SWOT analysis
9.2. Electric Fuel Battery Corporation
9.2.1. Overview
9.2.2. Business segments
9.2.3. Product portfolio
9.2.4. Financial performance
9.2.5. Recent developments
9.2.6. SWOT analysis
9.3. ZAF Energy System
9.3.1. Overview
9.3.2. Business segments
9.3.3. Product portfolio
9.3.4. Financial performance
9.3.5. Recent developments
9.3.6. SWOT analysis
9.4. Ravoyac
9.4.1. Overview
9.4.2. Business segments
9.4.3. Product portfolio
9.4.4. Financial performance
9.4.5. Recent developments
9.4.6. SWOT analysis
9.5. Nantenergy
9.5.1. Overview
9.5.2. Business segments
9.5.3. Product portfolio
9.5.4. Financial performance
9.5.5. Recent developments
9.5.6. SWOT analysis
9.6. Varta AG
9.6.1. Overview
9.6.2. Business segments
9.6.3. Product portfolio
9.6.4. Financial performance
9.6.5. Recent developments
9.6.6. SWOT analysis
9.7. GP Batteries
9.7.1. Overview
9.7.2. Business segments
9.7.3. Product portfolio
9.7.4. Financial performance
9.7.5. Recent developments
9.7.6. SWOT analysis
9.8. Phinenergy
9.8.1. Overview
9.8.2. Business segments
9.8.3. Product portfolio
9.8.4. Financial performance
9.8.5. Recent developments
9.8.6. SWOT analysis
9.9. Renata SA
9.9.1. Overview
9.9.2. Business segments
9.9.3. Product portfolio
9.9.4. Financial performance
9.9.5. Recent developments
9.9.6. SWOT analysis
9.10. Thunderzee
9.10.1. Overview
9.10.2. Business segments
9.10.3. Product portfolio
9.10.4. Financial performance
9.10.5. Recent developments
9.10.6. SWOT analysis
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