PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1461394
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1461394
The zinc-air battery market is estimated to be valued at USD 2.22 Bn in 2024 and is expected to reach USD 3.30 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2023 | Market Size in 2023/2024: | US$ 2.22 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 5.80% | 2030/2031 Value Projection: | US$ 3.30 Bn |
Zinc-air batteries are environment-friendly electric batteries that have a zinc anode and an air-breathing cathode. They offer high energy density and are cost effective compared to other battery technologies such as lithium-ion batteries. The global zinc-air battery market is witnessing high growth owing to the increasing demand for sustainable battery solutions across the consumer electronics, transportation, and grid energy storage applications. The growing adoption of electric vehicles and the need for power backup during emergencies and disasters is also propelling the demand. However, high self-discharge rate and limited lifespan of zinc-air batteries pose challenges to widespread adoption. Ongoing research & development in materials and manufacturing technologies aim to address these issues and drive the zinc-air battery market in the coming years.
Market Dynamics:
The global zinc-air battery market is driven by factors such as the growing demand for sustainable and cost-effective battery solutions across various applications. Zinc-air batteries have a high energy density and are environment-friendly compared to other battery chemistries. The increasing adoption of electric vehicles to reduce transportation emissions is also boosting the market growth. However, limited lifespan and high self-discharge rate of zinc-air batteries act as a restraint. Ongoing R&D in materials and manufacturing technologies to improve cycle life is unlocking new opportunities. Focus on stationary energy storage systems for grids also presents an opportunity.
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