Zinc air batteries are projected to be widely used across the electronic and automotive industry owing to their shift in consumers demand for renewable sources such as wind and solar. Additionally, the growing demand for higher energy-density storage options along with the rising demand for the product in various electronic devices including hearing aids is anticipated to create demand in the forecast period.
The demand for zinc-air battery is growing accounting to the growth in global economy. It is used as portable energy sources for electronic devices and vehicles as well as to regulate the regulate the energy flow in renewable generators such as solar panels, wind turbines, and electric grids. Additionally, Due to the rising demand for consumer electronics including cameras, laptops, gaming systems, toys, and others, the market is predicted to rise significantly. However, it is expected to be hampered due to the high expenditure and investment in the R&D of the global market.
The zinc-air battery is widely used in the automotive industry as an alternative of lithium-ion battery owing to their physical properties such as cost-effectiveness, environment-friendly, and high energy capacity. Additionally, the development in technology advancements such as laser and 3D printing for the manufacturing of the batteries is expected to boost the market.
The market is broadly segmented into metal, voltage, and, application. The metal segment is further categorized into zinc, aluminum, iron, lithium, and others. The voltage segment is further sub-divided into low, medium, and high. The application segment includes electric vehicles, military electronics, electronic devices, stationary power, and others.
Some of the key players operating include Ravoyac, Duracell, Electric Fuel Battery Corporation, AZA Battery, Nantenergy, Varta AG, Energy System, Phinenergy, GP Batteries, ZAF Thunderzee, Renata SA, and others. Prominent players involved in the marketplace are continuously focusing on business expansion activities through collaborations and partnerships across the value chain. For instance, in September 2022, Zinc8 Energy Solutions Inc. announced the expansion of its zinc-air batteries production unit in the U.S. market. This expansion is expected to widen the product portfolio of the batteries.
Automakers are working towards maximizing the utilization of the batteries in a vehicle, supported by their commitment to using environmental-friendly sources, hence, it is projected to gain grow over the forecast period.
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