Zinc–air Battery Market Size, Share, By Type, Type of Voltage, Application, and Region - Trends, Analysis and Forecast till 2035

• Zinc-air battery market size was valued at USD 2.2 Billion in 2024
• The target market is expected to grow at USD 3.7 Billion by 2035
• Target market is expanding at a CAGR of 5.9%

Zinc-air battery is a metal-air battery, which uses zinc as negative electrode and oxygen from the air as a positive electrode. Target market is driven by increasing global investments in grid infrastructure, increasing reliance on data centers, and the development of rechargeable zinc-air batteries. In addition, increasing R&D in Zinc-air battery and rising investments by leading manufacturers, increasing demand are another factors propelling growth of the global market. Furthermore, technological advancements which increases the efficiency and cost-effectiveness of production is also anticipated to create opportunities for growth of the global market over the forecast period.

Key Takeaways:

• North America held the largest share of the market in 2024 due to strong presence of key manufacturers.
• Asia Pacific is projected to be the fastest-growing market in the coming years. This is due to rising focus on battery technology for industrial and economic development.

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Key Drivers of Target Market:

Rising Demand of Zinc-air Batteries is expected to Propel Market Growth

The demand for sustainable batteries is rising as the world shifts to renewables and electrification. Zinc-air batteries are environmentally friendly, low-cost, and have a large energy density, making them an important competitor to the world's battery market.

For instance, in July 2024, a team of researchers has shown that paper industry waste can be transformed into a zinc–air battery. The battery, created from cellulose and lignin, exhibited a high power density and a wide operating temperature, while avoiding the longstanding issue of dendrite growth which helps to fulfill rising demand for zinc-air batteries.

Restraints:

Limitations of Zinc-air Batteries can Hamper Market Expansion

Zinc-air batteries have several limitations such as limited power output, short lifespan, and dependent on ambient conditions, require an air-management system, sensitivity to electrical abuse, dry out, flooding potential, and more expensive as compare to others, among others.

• Counterbalance Statements: One of the major solutions to this problem is companies need to integrate advance technologies, such as AI for manufacturing process to lower the cost for better result, efficiency, and functionality, among others.

Opportunities:

New Innovations and Technological Advancements to Create Significant Opportunities in Upcoming Years

The zinc-air batteries sector has undergone a radical transformation in recent years due to new innovations and technological advancements. It enhance functionality, efficiency, and durability of battery. Advanced technologies, such as electro catalysts, micro-nano fibers, alloying, coating, alkaline electrolytes, and among others used in zinc-air batteries.

• For instance, in July 2024, Mitsubishi Heavy Industries, Ltd., announced it has invested in e-Zinc, Inc., a long-duration energy storage technology startup. The investment has been executed through Mitsubishi Heavy Industries America, Inc., which joins a consortium of investors including Innovation, Toyota Ventures, and others.

The market is segmented into type, type of voltage, application, and region. 

Type:

On the basis of type, the zinc-air battery market is segmented into rechargeable and non-rechargeable. The rechargeable zinc-air batteries dominate the target market as they are most cost-effective and have a longer shelf life. 

• For instance, in January 2021, Thunderzee develops revolutionary rechargeable zinc air battery that is safer and cheaper. It not only eliminates the risk of fire that is commonly seen in lithium-ion batteries but also provides more energy, weighs less, costs less, and is environmentally friendly.

Type of Voltage:

The zinc-air battery market by type of voltage is segmented into Up to 12V, 12V to 36V, and above 36V. The up to 12V segment holds the largest zinc-air battery market share due to growing demand and its widespread applications.

• For instance, in August 2023, Zinc-air batteries have emerged as a better alternative to lithium in a recent Edith Cowan University (ECU) study into the advancement of sustainable battery systems.The new design has been so efficient it suppressed the internal resistance of batteries, and their voltage was close to the theoretical voltage which resulted in a high peak power density and ultra-long stability.

Application:

The zinc-air battery market by application is segmented into hearing aids, alarm system battery, electric fencing, IoT wearables, LED lamps, military, energy storage, and others. Energy storage segment is expected to dominate the target market growth due to increasing acceptance of renewable sources, increasing demand, and others.

Region:

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: North America is expected to dominate the growth of the market during forecast period due to the strong presence of key manufacturers, high adoption, strong industrial as well as transportation sector, which relies on battery technology, growing trends, and others.

• For instance, in April 2021, Zinc8 Energy Solutions, a Canada-based start-up, announced the signing of a demonstration agreement to test its long-duration zinc air energy storage technology for resilient backup power at data centers 

Asia Pacific: Asia Pacific region is considered to be the fastest growing region in the target market as countries, such as India, China, and many more are leading the charge significantly due to rising focus on battery technology for industrial and economic development, rising electric vehicles market such as electric bus, government support and policies, high demand, and others.

Zinc-air Battery Market Report Scope:

Segmentation:

By Type:

• Rechargeable
• Non-Rechargeable

By Type of Voltage:

• Up to 12V
• 12V to 36V
• Above 36V

By Application:

• Hearing Aids
• Alarm System Battery
• Electric Fencing
• IoT Wearables
• LED Lamps
• Military
• Energy Storage
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the zinc-air Battery Market include Duracell Batteries, VARTA AG, GPIndustrial, Phinergy, AZA Battery, and among others. These key players are focusing on different organic and inorganic strategies, including acquisition, merger, partnership, agreement, product launch, and approval to expand their product portfolio and strengthen their market presence globally.

List of Key Players in the Market:

• Duracell Batteries
• VARTA AG
• GPIndustrial
• Phinergy
• AZA Battery
• Electric Fuel Battery Corp.
• ZAF Energy Systems, INC.
• ENERGIZER HOLDINGS, INC.
• Enzinc, ZeniPower (Zhuhai Zhi Li) Battery Co., Ltd.
• Eastman Kodak Company
• Panasonic Energy Co., Ltd.
• Energizer
• ZincFive
• ABOUND

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• In October 2024, Hindustan Zinc Limited, India’s largest and the world’s second-largest integrated zinc producer, has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology Madras (IIT Madras). This strategic collaboration aims to develop a ground breaking 1lkWh electrically-rechargeable Zinc-air battery prototype.

Analyst View:      

The industry for zinc-air battery market is placed for substantial growth due to increasing global investments in grid infrastructure, increasing reliance on data centers, also the development of rechargeable zinc-air batteries. New innovations and development, advance technologies and many collaborations and partnerships helps to boost the growth of the market in upcoming years.

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