Farmington, April 28, 2023 (GLOBE NEWSWIRE) -- The Global Zinc Battery Market Was Valued At USD 9,211.6 Million In 2022 And Is Expected To Reach USD 11,439.5 Million By 2030, At A CAGR Of 3.2% During The Forecast Period 2022-2030.Key factors driving the growth of this market include Increased research and development will fuel the zinc-air battery market.
People all over the world are conducting research and development to determine how zinc-air batteries can be utilized in energy storage devices and electric vehicles. For instance, the Canadian company Zinc8 Energy Solutions manufactures energy-storing zinc-air batteries. However, the battery safety standard is currently being certified, and demonstration projects are underway.
Request sample copy of report “Zinc Battery Market Size, Share & Trends Estimation Report By Type Outlook (Zinc-Air Battery, Nickel-zinc Battery, Zinc-Silver Battery, Carbon-zinc Battery, Zinc-Chloride Battery, Zinc-Mn Battery), By Application Outlook (Electric Vehicle, Consumer Electronics, Power Tools, Others), Region and Forecasts, 2023 - 2030” published by Contrive Datum Insights.
Segmentation Overview:
By Type Outlook:
The market share is divided between non-rechargeable batteries and rechargeable batteries. Non-rechargeable batteries are disposable, cost-effective, and require less maintenance. There will be a greater demand for rechargeable batteries due to their durability and reusability. There are numerous applications for rechargeable zinc-air batteries, from small devices to large vehicles. It is also renowned for its durability, dependability, and energy production. Due to these factors, it will be superior to the sort that cannot be charged. In light of this, it is anticipated that its market share will increase rapidly over the next few years.
Application Outlook:
Hearing aids, military apparatus, safety lamps, and other applications comprise various market segments. Due to the prevalence of these batteries in small devices, hearing aids are the most prevalent product on the market. Due to their high energy efficiency and the growing popularity of energy storage devices, zinc-air batteries are also an excellent option. These batteries are also likely to become increasingly prevalent in electric vehicles. These batteries outperform lithium-ion batteries in terms of energy efficiency, environmental friendliness, and cost.
Regional Analysis:
The largest market share was held by the Asia-Pacific region, followed by Europe. During the forecast period, the Asia-Pacific market is anticipated to expand at a rapid CAGR. Due to factors such as the rising adoption of consumer electronics and technologically advanced products, Asia-Pacific is anticipated to lead the global zinc battery market over the forecast period. Due to the increasing demand for electric passenger vehicles and light commercial vehicles in Europe, the zinc battery market is expected to retain a significant market share. The market in North America is expected to grow at a substantial CAGR over the forecast period due to factors such as the increasing adoption of advanced technology products, the rising population, and the rising demand for consumer electronics, which will drive the demand for zinc batteries.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.2% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 11,439.5 Million |
| By Type |
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| By Application |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Key Trends:
As electric vehicles improve, zinc-air batteries will increase in popularity: As these batteries are still in the early phases of development, numerous research institutions and corporations are collaborating to determine how to make them accessible to the public. The expected duration of initiatives has increased, which will generate more revenue in the coming years. According to the International Energy Agency (IEA), global EV sales dropped by 15% during the pandemic. In the future years, this will unquestionably make it more difficult for battery manufacturers to compete.
Acceptance of power from renewable sources will increase to facilitate expansion: Increasing popularity of renewable energy sources such as solar and wind is driving up demand for battery energy storage systems. This will promote market expansion. As the need to reduce greenhouse gas emissions (GHG) and the demand for more electricity increase, renewable energy sources are increasingly utilized to generate electricity. This leads to the development of battery storage systems, which aids the development of zinc-air batteries.
Restraining factors:
Mercury concerns reduce the prevalence of zinc-air batteries: Mercury, which is hazardous to human health, is present in zinc, which significantly reduces the product's demand. In addition, there is the possibility that lithium-ion batteries, which use less energy, last longer, and are more durable, will become an affordable alternative in the near future. These factors could prevent the expansion of this market.
Key Segments Covered:
Top Market Players:
- PowerGenix
- Primus Power
- Fujitsu
- Eveready
- Panasonic
- Kodak Batteries
- ABC Battery
- Toshiba
- Multicell
- ZPower Battery
- GP Batteries
- Imprint Energy
- ZeniPower
- Others
By Types:
- Zinc-Air Battery
- Nickel-zinc Battery
- Zinc-Silver Battery
- Carbon-zinc Battery
- Zinc-Chloride Battery
- Zinc-Mn Battery
By Applications:
- Electric Vehicle
- Consumer Electronics
- Power Tools
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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Heat Exchanger Market- The Global Heat Exchanger Market Size Was Valued At USD 15.94 Billion In 2021. The Market Is Projected To Grow From USD 16.64 Billion In 2022 To USD 27.55 Billion By 2030, Exhibiting A CAGR Of 7.5% During The Forecast Period.
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