With the emergence and long-term Impact of COVID-19, the Global Zinc-Air Battery Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Zinc-Air Battery Market is poised to raise up to USD XX Billion by 2030. A zinc-air battery is a type of electrochemical energy storage device that uses zinc and oxygen from the air to generate electrical power. It is a form of metal-air battery, where the anode (negative electrode) is made of zinc metal and the cathode (positive electrode) utilizes oxygen from the air. The reaction between zinc and oxygen produces electricity. Key factor driving the market growth is increasing use of zinc-air batteries, especially in hearing aids and electronic devices, growing demand for high-energy-density storage solutions, and increasing demand for electric vehicles anticipated to support market growth during the forecast period.
Moreover, the rising demand for consumer electronics is supporting the growth of the Zinc-Air Battery Market. Zinc-air batteries are known for their high energy density and long runtime, making them an attractive option for portable electronic devices such as smartphones, tablets, wireless headphones, and wearable devices. Thus, the growing demand for consumer electronics is anticipated to support market growth during the forecast period. According to Statista, in 2022, the consumer electronics market was valued at USD 987.16 billion and it is anticipated to reach USD 1152.88 billion by 2028.
As a result, the growing consumer electronic market is anticipated to support the market growth during the forecast period. Additionally, technological advancement in zinc-air batteries is anticipated to create a lucrative opportunity for the market during the forecast period. However, the corrosion between electrolyte and anode in zinc-air batteries stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Zinc-Air Battery Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players, rising government attention to greenhouse gas emissions, growing demand for electric vehicles, and growth in the consumer electronics industry in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as cohesive government initiatives, rising demand for consumer electronics and growing adoption of these batteries in electric vehicles, especially in electric cars.
The global Zinc-Air Battery Market is highly competitive owing to the presence of several key manufacturers such as Electric Fuel Battery Corp, Revolt Technology Group, ZAF Energy Systems Inc, Renata SA, Panasonic Corporation, Zhuhai Zhi Li Battery Co. Ltd, and others.
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Global Zinc-Air Battery Market Size study & Forecast, by Type (Rechargeable, Non-Rechargeable) by Application (Small Devices, Remote Signalling and Communication, Safety Lamps, Electric Cars, Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Zinc-Air Battery Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the applications segment, non-rechargeable emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising government attention to greenhouse gas emissions.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Small Devices
- Remote Signalling and Communication
- Safety Lamps
- Electric Cars
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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