Lithium-Air Batteries Market Size, Share, Growth Report 2032

Lithium-Air Batteries Market: Industry Prospective

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 demand during the forecast period. Additionally, the report will help navigate and grab emerging opportunities in the lithium-air batteries market.

Lithium-Air Batteries Market: Overview

Lithium-air battery refers to the electrochemical storage that makes use of the lithium oxidation conducted at the anode in order to lower the oxygen extracted from the surrounding environment at the cathode. These batteries are much preferred among end-users as it uses the surrounding air for their functioning, thereby saving the volume and weight of the battery, which further results in a high capacity of energy as compared to the lithium-ion battery. Lithium-ion batteries are referred to as LABs. These batteries hold a high potential for efficient energy storage. Additionally, it also helps address future environmental and energy challenges. The automotive sector is one of the primary end-users of lithium-air batteries.

COVID-19 Impact:

The outbreak of Covid-19 has significantly impacted the global economy. As a result, the global lithium-air batteries market witnessed a steep drop in demand for raw materials and products. Every sector, including automobile, electronics, and energy storage, witnessed challenges in research, production, shipment, and development activities owing to the global lockdowns. China is considered a hub of lithium-ion battery manufacturing, BYD, and CATL goods. The outbreak of the pandemic caused a severe disturbance in production capabilities and supply activities. The original equipment manufacturers suffered a shortage in the supply of raw materials and batteries as a majority of the raw materials were exported from China. But owing to the ease in rules and regulations associated with Covid-19 along with the downtrend of Covid cases globally, the market is likely to see strong growth prospects in the forthcoming years. Market leaders are taking several initiatives to develop the global lithium-air batteries market and induce speedy recovery during the forecast period.

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Lithium-Air Batteries Market: Growth Drivers

Fast proliferating automotive sector to drive global market growth

Lithium-air batteries are considered to be the lightest ones available in the market, with lithium being the lightest metal, and air likewise is ultralight in weight. As a result, the automotive sector emerged as a primary end-user of lithium-air batteries. The advent of electric and hybrid electric vehicles globally is further expanding the scope of lithium-air batteries within the segment. These batteries are compact in size with low weight, thereby it is of high use in electric vehicles. However, the surge in demand for electric vehicles is further complimenting the demand significantly. Additionally, these batteries are highly deployed in different sectors, including industrial equipment, electrical, electronics, and many others due to their lightweight nature. The surge in advanced electrical applications like robotics and drones will create massive growth opportunities in the global lithium-air batteries market. Modern-day batteries like lithium-air can enhance power in mobile robots, drones, underwater robots, and power aerial drones. Additionally, these batteries are also used to manipulate and sense data in remote areas where humans find difficulty in reaching out.

Lithium-Air Batteries Market: Restraints

Growing prices of the battery may hamper the global market growth.

The production technology needed for manufacturing these batteries is expensive thereby the growing prices of these batteries are likely to emerge as a major restraint of the global lithium-air batteries market.

Lithium-Air Batteries Market: Opportunities

New lithium-air batteries are gaining traction in the automotive sector.

The conventional lithium-ion battery is increasingly being replaced by innovative lithium-air batteries owing to its high-performance feature. Additionally, around 10 million electric cars were on the road in 2020, thereby, the scope of lithium-air batteries is constantly increasing.

Lithium-Air Batteries Market: Challenges

A low life cycle is likely to be a huge challenge for the global lithium-air batteries market.

With the growing demand for electric vehicles globally, manufacturers are increasingly seeking batteries that can perform well and can power the vehicles for a longer period of time. However, it has emerged as a huge challenge for market leaders.

Report Scope:

Lithium-Air Batteries Market: Segmentation

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

By application, the market can be segmented into energy storage, consumer electronics, automotive, and other applications.

By type, the market can be segmented into solid-state, mixed aqueous, aqueous, and aroptic lithium-air batteries.

Recent Developments

• Researchers from Cornell University, Harvard University, and MIT in January 2022 announced that they had researched a way to isolate and study one enigmatic molecule that breaks the key component in Li-air batteries, i.e., lithium superoxide.
• 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.

Lithium-Air Batteries Market: Regional Landscape

North America accounts for the largest share in the global lithium-air batteries market due to the growing penetration of lithium-air batteries in electronic appliances like smart home appliances, smart wearables, and smartphones. Additionally, the growing demand for consumers for advanced, smaller, and thin-performing battery products is further likely to catalyze the growth of the regional market significantly.

Lithium-Air Batteries Market: Competitive Landscape

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

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