Global lithium-air batteries market is projected to grow with a high CAGR of 10%

The global lithium-air batteries market is projected to grow with a high CAGR of 10% during the forecast period. The report analyzes the lithium-air battery market’s drivers, challenges, and impact on the demand during the forecast period. Additionally, the report will help navigate and grab emerging opportunities in the lithium-air batteries market.

The lithium-air battery is also called a lithium-oxygen battery. It is a battery that generates power with the help of the lithium oxidation process. In comparison to standard lithium-ion batteries, it offers the combined benefits of both oxygen and lithium, offering around 5 to 15 times the energy along with three times more power. These are a kind of metal-air battery that works on the process of redox in which current is generated with the help of oxidation of lithium metal and reduction of oxygen. These batteries find a large number of applications in marine, electronics, military, defense, medical, and automotive. It has emerged as vital equipment in both industrial and household appliances.

The global lithium-air batteries market is likely to spur significantly in the forthcoming year due to the surge in need to lower imported oil and emissions. However, it has led to the development of electric cars, thereby expanding the scope of lithium-air batteries exponentially. The growing use of sophisticated industrial applications like robots and drones is likely to create several lucrative growth opportunities in the global lithium-air batteries market. Equipment like aerial drones, mobile robots, and underwater robots are powered through a new lithium-air battery. However, the battery also helps in perceiving and modifying data in unreachable locations. The high penetration rate of smart gadgets like phones and watches is likely to further fuel the demand for lithium-air batteries globally.

Manufacturers are driving the research and development activities to innovate batteries with low cost of production, high power density, longevity, and lightweight without compromising the performance of the battery. Additionally, manufacturers are looking for ways to develop eco-friendly products due to the rising concerns regarding environmental health. Manufacturers and big organizations are investing heavily in the continuous development of equipment and gadgets, thereby propelling demand for lithium-air batteries in the near future. Furthermore, the high cost of lithium-ion batteries and limited storage capacity is likely to emerge as another key factor for increasing the customer base for lithium-air batteries. Government initiatives to encourage electric vehicles and smart transportation will pave the positive trajectory for the growth of the global market in the forthcoming years.

Browse the full “Lithium-Air Batteries Market By Type (Aprotic Li-Air Batteries, Aqueous Li-Air Batteries, Mixed Aqueous/Aprotic, And Solid-State Li-Air Batteries), And Application (Automotive & Transportation, Consumer Electronics, Medical Devices, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/lithium-air-batteries-market

The global lithium-air batteries market can be segmented into application, type, and region.

By application, the market can be segmented into medical devices, consumer electronics, automotives, transportations, and others. The automotive sector holds the largest share in the global market due to the rising trend of electric vehicles globally. Furthermore, the growing government initiatives to encourage the adoption of electric vehicles and smart transportation will further complement the growth of the segment in the forthcoming years.

By type, the market can be segmented into solid-state, mixed aqueous, aqueous, and other lithium-air batteries. The solid-state lithium-air battery segment accounts for the largest share in the global market due to its requirement for less space and higher theoretical air density. Additionally, the solid-state lithium-air battery poses the least risk of fire explosion.

North America accounts for the largest share in the global lithium-air batteries market due to the high penetration rate of lithium-ion batteries in different end-user sectors in the region. The high adoption rate of smart home appliances, smart wearables, and smartphones in the region will further pave the way for huge opportunities in the regional market. Additionally, the growing awareness among people regarding the benefits of electric vehicles is further likely to propel the demand for lithium-air batteries in the region.

Asia Pacific is another leading region in the global market due to the growing disposable income of the people in the region.

Some of the significant players in the global lithium-air batteries market include Mullen Technologies Inc., Tesla, Inc., and PolyPlus Battery Co.

Recent developments:

• Zinc8 Energy Solution in April 2021 introduced a battery technology for energy storage. It worked in collaboration with New York State for the installation of the technology. The system makes use of air and zinc as fuel to focus on enhancing the speed of response and storage.
• Attero, an e-waste recycling firm, reveals its plan to invest INR 300 crore in a bid to enhance its current lithium-ion battery recycling capacity by 11 times.

Global lithium-air batteries market is segmented as follows:

By Application

• Automotive
• Consumer Electronics
• Energy Storage
• Other Applications
• Global Lithium-Air Battery

By Type

• Aprotic Li-Air Battery
• Aqueous Li-Air Battery
• Mixed Aqueous/ Aprotic Li- Air Battery
• Solid State Li-Air Battery

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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