Zinc-Air Batteries Market Growth, Size, Share, Trends, and Forecast 2030

Industry Prospective:

The global zinc-air batteries market size was worth around USD 111.5 million in 2021 and is predicted to grow to around USD 128.5 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2022 and 2030. The report analyzes the global zinc-air batteries market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the zinc-air batteries market.

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Zinc-air batteries Market: Overview

Zinc-air batteries, also known as zinc-air fuel cells, are metal-air batteries filled with oxygen. Zinc air batteries are composed of a metal zinc anode which is filled with oxygen through a cathode. To identify the size of zinc-air batteries, several key manufacturers use an industry-standard color code. Zinc is the fuel, the reaction rate can be controlled by varying the airflow, and oxidized zinc/electrolyte paste can be replaced with fresh paste. Furthermore, zinc-air batteries are cost-effective, have a high energy density, and possess some properties of fuel cells as well as batteries. Zinc-air batteries are widely used in electronics, automotive, industrial, and other end-use sectors.

Key Insights

• As per the analysis shared by our research analyst, the global zinc-air batteries market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2022-2030).
• In terms of revenue, the global zinc-air batteries market size was valued at around USD 111.5 million in 2021 and is projected to reach USD 128.5 million, by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The global zinc-air batteries market may grow owing to the rising trend of the biomedical industry.
• Based on end-use industry hearing aids segment was predicted to show maximum market share in the year 2021
• On the basis of region, Asia-Pacific was the leading revenue generator in 2021.

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Zinc-Air batteries Market: Growth Drivers

 The robust shift for energy storage batteries fueling the market growth 

The growing population coupled with the rise in energy demand has spurred the performance of the global zinc-air batteries market. In addition, advancements in technology and high investment in the sustainable battery storage system from the government of both developed and developing economies are projected to increase the need for zinc air batteries. Zinc-air batteries are widely used to store energy owing to their high-density proportion as compared to others fuel cells. These supporting factors are expected to foster the market growth in the coming years.

Zinc-air batteries Market: Restraints

 Disadvantages associated with zinc-air batteries to hamper the market 

Zinc-air batteries rely on ambient conditions and tend to get dry out once exposed to the outside air. In addition, zinc-air batteries have flooding potential, a limited output, and their shelf life is short. Due to these factors, several key manufacturers have opted for alternative battery sources for energy storage system. These factors are expected to hamper the market growth during the forecast period.

Zinc-air batteries Market: Opportunities

Robust demand from hearing aids machines

The growing number of old age people and the rise in the number of hearing problems among people will enhance the performance of zinc-air batteries during the forecast period. For instance, according to an article published by World Health Organization in April 2021, by 2050, nearly 2.5 billion people are projected to have some degree of hearing loss and at least 700 million will require hearing rehabilitation. Zinc-air batteries have significant applications in hearing aid machines as they are power sources for hearing aids, medical devices, and pagers. In addition, this battery provides longer shelf life and more energy than any other type of battery or cell system. These factors are anticipated to create new opportunities for the global zinc-air batteries market in the pharmaceutical industry.

Zinc-air batteries Market: Challenges

Presence of mercury and corrosion between electrolyte & anode zinc-air batteries

The global growth of zinc-air batteries has been hampered due to the presence of mercury in zinc. Mercury is hazardous to the health and inhalation of mercury has an adverse effect on human health and the environment. In addition, zinc-air batteries produce explosive hydrogen gas in a corrosive reaction with an anode electrolyte that makes the battery unsafe and reduces the shelf life of the battery. This may acts as a challenging factor for the zinc-air batteries market during the forecast period. 

Zinc-air batteries Market: Segmentation

The global zinc-air batteries market is segmented based on type, end-use industry, and region.

Based on type, the global zinc-air batteries are segmented into rechargeable and non-rechargeable. The rechargeable battery type segment will dominate during the forecast period and accounted for 48.65% of the total market share. Rechargeable zinc-air batteries are cost-effective, durable, and have high shelf life owing to which it is widely adopted in many end-use industries such as electric vehicles, electronic gadgets, and small-scale devices to large-scale devices. This factor is anticipated to drive the zinc-air battery market for the rechargeable segment.

Based on the end-use industry it is categorized into military devices, hearing aids, safety lamps, medical devices, energy storage, and others. The hearing aids end-use segment will dominate during the forecast period and accounted for 36.65% of the total market share. According to an article published by Audientes, in India, 75 million adults have disabling hearing loss problems. Zinc-air batteries are an excellent source of powering material and also offer longer shelf life to the machines. These factors are expected to offer lucrative opportunities for the hearing aids end-use segment during the forecast period.

Recent Developments:

• In January 2021, the Tunderzee, a leading manufacturer of batteries, launched zinc-air batteries that are cheaper, safer, and more cost-effective than lithium-ion batteries. This strategic product launch has widened the company’s product portfolio.
• In January 2022, Zinc Energy Solutions entered into a strategic agreement with Digital Energy Corporation to install a patent zinc-air energy storage system in New York. This strategic agreement has enhanced the Zinc Energy Solution’s product portfolio for zinc-air batteries.

Zinc-Air Batteries Market Report Scope:

Zinc-air batteries Market: Regional Analysis

Asia-Pacific to lead owing to higher technology adoption rate during the forecast period

The global zinc-air batteries market growth is expected to be driven by Asia-Pacific and accounts for 43.67% of the total market share. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, India, and South Korea have giant electric vehicles set up due to which the demand for zinc-air batteries has increased. In addition, zinc-air batteries offer a cost-effective energy storage system owing to which the market is expected to surge during the forecast period.

Furthermore, government expenditure on zinc-air batteries in India has opened up new opportunities for the global zinc-air batteries market. For instance, in India in March 2021, IIT Madras researchers developed mechanically rechargeable zinc-air batteries as an alternative to lithium-ion batteries which are used in electric vehicles. This factor is likely to drive the market in the upcoming years. According to an article published by IEA in 2021, more than 10 million electric cars were on the world’s roads in 2020 with battery-electric models driving the expansion of zinc-air batteries.

Moreover, North America and Europe have shown positive growth in the zinc-air battery market. This is attributed to the fact that stringent norms and regulations from European Union and government support for sustainable renewable energy production have driven the market during the forecast period.

Zinc-air batteries Market: Competitive Analysis

The global zinc-air batteries market is dominated by players like

• Berkshire Hathaway
• Duracell Inc.
• Energizer Holdings Inc.
• GP Batteries International Ltd.
• Panasonic Energy Europe NV
• Renata SA
• Sony Electronics Inc.
• Spectrum Brands Inc.
• VARTA Microbattery GmbH.
• Konnoc
• Rayovac (Spectrum).

The global zinc-air batteries market is segmented as follows:

By Type

• Rechargeable
• Non-rechargeable

By End Use Industry

• Military devices
• Hearing Aids
• Safety Lamps
• Medical devices
• Energy Storage
• Others

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