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OREGAON, DE, UNITED STATES, September 5, 2024 /EINPresswire / -- According to a new report published by Allied market Research, titled, "Metal-Air Battery Market ," The metal-air battery market size was valued at $423.98 million in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 15% from 2022 to 2031.
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A metal-air battery system is a form of energy storage that relies on an electrochemical reaction between a negative metal electrode and a positive air electrode to produce a charge. Due to their theoretically greater energy density than lithium-ion batteries, metal-air batteries are commonly promoted as the future of energy storage for uses, such as grid energy storage and in electric vehicles application. The metal-air battery is environmental friendly as compared to other traditional batteries, which is a major factor estimated to propel the metal-air battery market analysis in the upcoming years.
Most of the metals used in metal-air batteries are unsteady in water and they will react with the electrolyte to corrode the metal, which results in battery discharge. Also, the electrode carbonation process is caused in metal-air batteries since the cell is an open system it absorbs the CO2 from the air resulting in crystallization of the electrode, clogging the pores, and decreasing in performance of the battery. These factors are anticipated to hamper the metal-air battery market growth.
The use of metal-air batteries in electric vehicles is anticipated to gain traction. This is because metal-air batteries are cost-effective as well as they can meet the stringent emission regulations of the industry to avoid environmental hazards such as air pollution. The use of metal-air batteries in electric vehicles will help to eliminate the need for additional battery space in electric vehicles. Also, metal-air batteries are light, compact, and environmentally friendly. Moreover, high energy density and the ability to deliver a much longer range are anticipated to propel the growth of metal-air batteries in various applications such as defense. These factors are anticipated to boost the metal-air battery market outlook growth in the upcoming years.
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The global metal-air battery market is segmented based on metal, voltage, application, and region. By metal, it is classified into aluminum, iron, lithium, zinc, and others. By voltage, it is classified into low, medium, and high. By application, it is classified into electric vehicles, military electronics, stationary powers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the metal-air battery market players are Arconic, GPB International Limited, Arotech Corporation, Fuji Pigment Co., Ltd., Zinc8 Energy Solutions Inc., POLY PLUS, E-Stone Batteries B.V., NantEnergy Inc., Log 9 Materials, and PHINERGY.
The report offers a comprehensive analysis of the global metal-air battery market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
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Impact of COVID-19 on the Global Metal-air Battery Industry
- COVID-19 impact on the metal-air battery market industry was negative. Sales of metal-air batteries are directly proportional to the demand from electronics appliances and the automotive industry. However, various sectors such as chemicals, electronics, and automotive were negatively impacted by the COVID-19 pandemic, which has affected the production and demand for metal-air batteries due to a disrupted supply chain.
- The market for metal-air batteries has seen revenue losses, cost increases, and a short production halt due to the COVID-19 epidemic
- Social distancing norms closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global metal-air battery market forecast
Key Findings of the Study
. Based on metal, the lithium metal sub-segment emerged as the global leader in 2021 and the aluminum sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
. Based on voltage, the low voltage sub-segment emerged as the global leader in 2021 and the medium sub-segment is predicted to show the fastest growth in the upcoming years
. Based on application, the electric vehicles sub-segment emerged as the global leader in 2021 and the electronic devices sub-segment is predicted to show the fastest growth in the upcoming years
. Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
. The analysis also provides an in-depth study of metal-air battery market share, regional analysis.
Report Overview:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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