Air Electrode Battery Market Size, Share & Trends Report

Air Electrode Battery Market Size, Share & Trends Analysis Report By Battery Type (Primary, Secondary, Fuel Cell), By Application (Medical Devices, Transportation), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Sep, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-120-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 90

Report Overview

The global air electrode battery market size was valued at USD 1.01 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2020 to 2027. Growing demand for air electrode batteries among the end-use applications, along with increasing research and development activities focused on advancing the battery technology, is anticipated to drive the industry over the forecast period. The growing deployment of electric vehicles, the rising utility of battery energy storage systems, and proliferating adoption of electronic gadgets are among the major factors bolstering the demand for air electrode battery. These batteries offer higher electrochemical performance, higher storage capacity, and lower environmental impact when compared to ion batteries, thereby enhancing their commercial market value.

China air electrode battery market size

China dominates the air electrode battery market owing to the presence of major manufacturing companies across the country, along with bulk production of batteries. The growing deployment of electric vehicles is positively influencing the air electrode battery industry landscape across China. In addition, the Chinese government provides significant funding to air battery-related projects, thereby enhancing business growth across the country.

Air electrode batteries such as zinc-air or lithium-air batteries offer longer shelf life, stable discharge voltage, high energy density, and environmental friendliness. In the metal-air battery, the catalyst comes in direct contact with the air cathode, thereby enhancing the electron movement between the external circuits and the cathode, which leads to a stable charge-discharge cycle.

The shorter life cycle and lower energy efficiency of air batteries, when compared to ion batteries, are expected to hinder the commercial viability of the product. Moreover, COVID-19 pandemic has severely impacted the market supply chain. Raw material suppliers, electrode material producers, and battery pack manufacturers are anticipated to take a significant amount of time to recover to the pre-COVID level.

Battery Type Insights

The secondary battery segment held the largest revenue share of 47.0% in 2019 owing to its low production cost, high energy density, and environmental friendliness. The rechargeable batteries find usage in electric vehicles (EV), portable electronic devices, and utility-scale energy storage systems. Growing demand for electronics, along with rising adoption of EV technology, is estimated to bolster the segment growth over the forecast period. 

The primary battery segment accounted for a prominent market share in 2019 owing to its higher energy density when compared to other battery types. Atmospheric air is present as a battery reactant, allowing the non-rechargeable battery to offer more energy in a given volume or weight. The non-rechargeable batteries find application in various sizes from hearing aids to cameras, thereby enhancing the product demand.

The fuel cell is anticipated to be the fastest-growing segment over the forecast period owing to its widespread usage in transportation, emergency, stationary, and portable backup power, and material handling applications. In addition, fuel cells have lower emissions and higher efficiencies when compared to conventional combustion technologies, thereby enhancing the adoption rate of air electrode fuel cell across several industries.

Application Insights

The transportation segment held the largest share of 44.8% in 2019 and is anticipated to expand at the fastest CAGR over the forecast period owing to the growing adoption of fuel cell electric vehicles. Rising research and development activities for air electrode fuel cell, along with government initiatives to boost the adoption of electric vehicles across the passenger and commercial vehicle segment, are bound to propel the segment growth over the forecast period.

Global air electrode battery market share

The medical devices segment accounted for a significant market share in 2019 owing to the growing usage of disposable medical devices and equipment. Rising investments in superior quality medical equipment, including dental products, optical technologies, diagnostic imaging, and medical tracking applications, are expected to drive the demand for air electrode battery. 

The others segment includes energy storage, consumer electronics, and other applications, such as mobile robots and aerial drones. Widespread implementation of air electrode battery in portable and residential electronics, refrigerators, washing machines, television, tablets, and smartwatches is expected to bolster the industry growth over the forecast period.

Regional Insights

The Asia Pacific held the largest revenue share of 31.1% in 2019 and is projected to expand at the fastest growth rate over the forecast period. The proliferating electronic manufacturing market due to the ever-increasing consumer base, along with growing applications in major economies, such as China, Japan, and India, is anticipated to bolster the regional market growth. The rising deployment of electric vehicles across the region is expected to further add to the industry growth. 

China offers lucrative growth opportunities for the market. It is the largest battery manufacturer globally owing to several factors, including the presence of key industry players across the country, increasing consumer demand, cheap labor, and easy availability of raw material. Rising energy storage demand owing to the significant usage of electricity grids, along with the growing need for continuous power supply, is estimated to further boost the regional market growth.

North America occupied a significant market share in 2019, with the U.S. being the largest contributor to the regional market growth. Favorable government policies encouraging the adoption of electric vehicles owing to lower emissions as compared to gasoline-powered vehicles are anticipated to fuel the industry growth across the region. Growing demand for air electrode batteries in smart devices and computers is another key factor propelling the industry growth.

Key Companies & Market Share Insights

Market players adopt several strategies, such as mergers & acquisitions, collaborations, joint ventures, and new product offerings. The strategies enable the companies to strengthen their foothold in the market. Industry participants are significantly investing in research and development initiatives in order to improve the technical aspects of air electrode battery offering better performance, longer life, and lower battery cost as compared to conventional batteries. Some of the prominent players in the air electrode battery market include:

  • Phinergy

  • Mullen Technologies, Inc.

  • Poly Plus Battery Company

  • Tesla Inc.

  • Hitachi Maxell Ltd.

  • Volkswagen Ag

  • Sanyo Electric Co., Ltd.

  • BASF Global

  • Panasonic Corporation

  • LG Chem Ltd.

Air Electrode Battery Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 1.08 billion

Revenue forecast in 2027

USD 2.02 billion

Growth Rate

CAGR of 9.0% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Battery type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; China; Japan; India

Key companies profiled

Phinergy; Hitachi Maxell Ltd.; Volkswagen Ag; Mullen Technologies, Inc.; Sanyo Electric Co., Ltd.; BASF Global; Tesla Inc.; Panasonic Corporation; LG Chem Ltd.; Poly Plus Battery Company

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global air electrode battery market report on the basis of battery type, application, and region:

  • Battery Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Primary Battery

    • Secondary Battery

    • Fuel Cell

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Medical Devices

    • Transportation

    • Military Devices

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      •  Canada

      • Mexico

    • Europe

      • The U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

    • Middle East & Africa

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