Aluminum-Air Battery Market Size, Share, Growth, Forecast 2030

Aluminum-Air Battery Industry Prospective:

The global aluminum-air battery market size was evaluated at $11.1 billion in 2022 and is slated to hit $13.1 billion by the end of 2030 with a CAGR of nearly 3.92% between 2023 and 2030.

Request Free Sample

Aluminum-Air Battery Market: Overview

The aluminum-air battery is a kind of battery that makes use of an aluminum anode and an oxygen cathode. The aluminum anode reacts with oxygen from the atmosphere and produces aluminum oxide. Moreover, the aluminum oxide then reacts with water for producing hydroxide ions and then these hydroxide ions get reduced to water by the cathode. These reactions produce electric energy that is used for powering various electric equipment.

Key Insights

• As per the analysis shared by our research analyst, the global aluminum-air battery market is projected to expand annually at the annual growth rate of around 3.92% over the forecast timespan (2023-2030)
• In terms of revenue, the global aluminum-air battery market size was evaluated at nearly $11.1 billion in 2022 and is expected to reach $13.1 billion by 2030.
• The global aluminum-air battery market is anticipated to grow rapidly over the forecast timeline owing to an increase in the adoption of electric vehicles for reducing carbon emissions.
• In terms of type, the lithium-ion battery segment is slated to register the highest CAGR over the analysis period.
• Based on application, the military segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the Asia-Pacific aluminum-air battery industry is projected to register the fastest CAGR during the assessment timeline.

Aluminum-Air Battery Market: Growth Factors

Rise in the demand for electric vehicles will scale up the global market expansion by 2030

Increase in the adoption of electric vehicles for reducing carbon emissions will multiply the expansion of the aluminum-air battery market globally in the coming years. Furthermore, a surge in the fund allocation for rechargeable air battery production will prompt global market expansion. Innovations in battery technologies and the rise in the use of hybrid vehicles will steer the expansion of the global market. Easy availability of raw materials for manufacturing aluminum-air batteries in developing countries such as India will prompt the expansion of the market across the globe. New product launches will steer the expansion of the market across the globe. For instance, in the last quarter of 2022, the Indian Oil Corporation declared introducing new kinds of aluminum-air batteries for their use in electric vehicles.

Aluminum-Air Battery Market: Restraints

Rise in the price of raw materials can hinder the global industry expansion over the forecast timeline

High raw material costs can inhibit the expansion of the global aluminum-air battery industry in the years ahead. Additionally, aluminum-air batteries cannot be charged with electricity and this can further decimate their demand.

Aluminum-Air Battery Market: Opportunities

Technological innovations and supportive government policies will prop up the global market surge by 2030

Technological breakthroughs and favorable government initiatives related to clean energy will open new growth opportunities for the global aluminum-air battery market in the coming years.

Aluminum-Air Battery Market: Challenges

Easy availability of alternate products at reduced prices will put a huge challenge to the global industry expansion

Low shelf life and massive demand for substitute products such as lithium-ion batteries can prove to the biggest challenge for the growth of the aluminum-air battery industry globally.

Aluminum-Air Battery Market: Segmentation

The global aluminum-air battery market is sectored into type, application, and region.        

In type terms, the global aluminum-air battery market is segregated into lead-acid battery, lithium-ion battery, Ni-Cd, Zn-Air battery, and MH- Ni battery segments. Furthermore, the lithium-ion battery segment, which amassed nearly two-fifths of the global market revenue in 2022, is set to record the highest CAGR in the ensuing years. The expansion of the segment in the forecasting timeframe can be owing to the ability of lithium-ion batteries to be recharged along with a rise in the use of these products in electronic equipment such as laptops and mobiles. These products have an elongated lifespan and are fit to be used in a slew of applications.

Based on the application, the global aluminum-air battery industry is sectored into military and civil segments. Moreover, the military segment, which gathered a key chunk of the global industry share in 2022, is predicted to lead the global industry over the analysis timeframe. The segmental expansion over the assessment timeline can be a result of a surge in the purchase of lightweight batteries along with a surge in the application of aluminum-air batteries in electric as well as hybrid vehicles.

Aluminum-Air Battery Market: Report Scope

Aluminum-Air Battery Market: Regional Insights

North America is prognosis to maintain leadership position in the global aluminum-air battery market in the forecasting timeline

North America, which contributed 57% of the global aluminum-air battery market revenue in 2022, will be a dominating region over the assessment timeline. Furthermore, the regional market expansion can be due to the large-scale presence of key product manufacturers in countries such as the U.S. A rise in the use of products in electric vehicles along with growing awareness about protecting the environment will spearhead the expansion of the regional market.  

Asia-Pacific aluminum-air battery industry is set to register the fastest CAGR in the upcoming years owing to a rise in the demand for clean energy in countries such as Japan, China, South Korea, and Taiwan. Countries such as India and China are anticipated to be the key regional revenue pockets in the ensuing years.

Aluminum-Air Battery Market: Competitive Space

The global aluminum-air battery market profiles key players such as:

• ACTXE
• JOINWORLD
• China Dynamics
• Phinergy
• ANYUAN
• Renault-Nissan
• Zhongke Metal
• Alcoa
• Fuji-pigment
• Geely
• Mingtai
• Super New Power.

The global aluminum-air battery market is segmented as follows:

By Type

• Lead-Acid Batteries
• Lithium Ion Battery
• Ni-Cd, Zn-Air Battery
• MH- Ni Battery

By Application

• Military
• Civil

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