Metal Air Battery Market to Register 7.6% CAGR till 2028; High Applications in Eco-friendly Energy Saving Devices to Drive Market Growth: Fortune Business Insights™

Pune, India, April 05, 2021 (GLOBE NEWSWIRE) -- The global Metal air battery market size is projected to reach USD 744.66 million by 2028, exhibiting a CAGR of 7.6% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Metal Air Battery Market, 2021-2028”. As per the report, the value of the market stood at USD 431.49 million in 2020.

Market Segmentation

We have categorized the market on the basis of metal, application, and region. In terms of metal, the market is divided into zinc-air, lithium-air, aluminum-air, iron-air, and others. Based on application, it is fragmented into electric vehicles (EV), stationary power, military devices, and electronic devices. Based on region, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

The COVID-19 pandemic has drastically affected businesses across the world. The outbreak has forced lockdown in countries across the globe, which is leading towards an economic slowdown. The consumer electronics segment has been adversely impacted due to the wide-scale production shutdowns in China, resulting in lower production of electronic devices. The decreasing supply from the consumer electronics market has taken a toll on the metal air battery market growth.

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What Does the Report Offer?

The report includes a comprehensive analysis of companies based on their financial positions, product portfolios, and growth strategies. In addition, it provides key insights regarding segmentations, which are structured on the basis of product, type, consumption, distribution channel, and region. Apart from this, the report incorporates a detailed study of core competencies of the key players and their market share to anticipate the degree of competition.

Driving factor

Evident Shift Toward Renewable Energy Resources to Drive Growth

According to the International Energy Agency (IEA), electricity generation through renewable resources had increased by 6% in 2019. Wind and solar technologies contributed nearly 64% of the increased value. Clean energy has become a necessity for the world for a couple of reasons. Firstly, we are running out of fossil fuels and secondly extensive use of such type results in a high rate of carbon emission, which is not adequate in the current circumstances. Governments, major enterprises, and other organizations are rapidly focusing on solar energy as a primary resource. For instance, the Yanchi Solar Park in China, which has been operational since 2016, produces an output of 820 MW.

Such plants require high-capacity batteries in order to store energy. Hence, the increasing adoption of renewable energy sources is anticipated to drive the demand for metal air battery. However, they are still in the development stage and are more expensive than other alternatives due to the type of metal involved, which adds the extra cost.

In addition, their alternatives, such as lithium-ion batteries, have high utilization in various end-user industries, especially in the consumer electronics space, due to their light weight and low self-discharge rate. Such factors are anticipated to restrain the market growth.

Regional Insights

Increasing Adoption of Electric Vehicles to Boost Demand in Asia Pacific

Asia Pacific is anticipated to dominate the metal air battery market share during the forecast period. The increasing adoption of electric vehicles in countries including China and Japan is estimated to accelerate the demand for metal air type of batteries in the region. For instance, according to the International Energy Agency, China contributed 45% of the total electric vehicles manufactured worldwide in 2018. In addition, the high presence of key electronics manufacturers in the region is predicted to enhance the market growth.

 North America is projected to hold the second-largest market share. Major enterprises are focusing on the development of optimum metal air batteries. This is expected to drive the market in the region.

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Competitive Landscape

Developing innovative Products to Help Industry Leaders Find New Applications

The market comprises industry leaders, manufacturers, and several scientist groups that are focused on exploring new methods of utilizing metal-air batteries. For instance, in April 2020, the Institute of Nano Science and Technology (INST) announced the development of an effective and economical electro-catalyst with the help of fish gills. The new catalyst aids in the development of eco-friendly energy-saving devices. It can also help enterprises overcome the issues regarding renewable energy storage technologies.

Industry Developments:

February 2020 – Indian Oil Corporation Limited, a public sector oil and gas company headquartered in New Delhi, India, partnered with Phinergy, an Israeli start-up specialized in metal air battery systems such as aluminum-air/zinc systems. Under this partnership, the companies will develop metal air batteries for use in EVs.

List of Key Companies Covered in the Metal Air Battery Market Report:

  • Phinergy (Israel)
  • NantEnergy (United States)
  • Log 9 Materials (India)
  • Arotech Corporation (United States)
  • PolyPlus (United States)
  • Fuji Pigment Co. Ltd. (Japan)
  • Zinc8 Energy Solutions (Canada)
  • GP Batteries (Hong Kong)
  • ZAF Energy Systems Inc. (ZAFSYS) (United States)
  • Thunderzee (United States)
  • Duracell Inc. (United States)
  • Energizer Holdings (United States)
  • Panasonic (Japan)
  • Epsilor Electric Fuel (Israel)
  • Renata S.A. (Switzerland)
  • ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd. (China)
  • Guangdong Tianqju Electronics Technology Co., Ltd (China)

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Major Table of Contents:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Regulatory Landscape
    • Industry SWOT Analysis
    • Porters Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Metal Air Battery Market
    • Steps Taken by the Government to Overcome the Impact
    • Key Developments by Industry Players in Response to COVID-19
    • Potential Opportunities and Challenges due to COVID-19 Outbreak
  • Global Metal Air Battery Market Analysis (USD Million), Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Metal
      • Zinc-Air
      • Aluminum-Air
      • Lithium-Air
      • Iron-Air
      • Others
    • Market Analysis, Insights and Forecast – By Type
      • Primary
      • Secondary/Rechargeable
    • Market Analysis, Insights and Forecast – By Application
      • Electric Vehicle (EV)
      • Stationary Power
      • Military Devices
      • Electronic Devices
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the World
  • North America Metal Air Battery Market Analysis (USD Million), Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Metal
      • Zinc-Air
      • Aluminum-Air
      • Lithium-Air
      • Iron-Air
      • Others
    • Market Analysis, Insights and Forecast – By Type
      • Primary
      • Secondary/Rechargeable
    • Market Analysis, Insights and Forecast – By Application
      • Electric Vehicle (EV)
      • Stationary Power
      • Military Devices
      • Electronic Devices
    • Market Analysis, Insights and Forecast – By Country
      • U.S.
      • Canada

TOC Continued…!

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