The global metal-air battery market size is expected to reach USD 1,448 million by 2030, according to a new study by Polaris Market Research. The report “Metal-air Battery Market Share, Size, Trends, Industry Analysis Report, By Metal; By Voltage (Low, Medium, High); By Type (Primary, Secondary); By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for the product in the consumer electronics, automotive, defense, and medical sectors is due to high-energy density and energy storage properties. Furthermore, there is an increasing need for secondary battery types such as fuel cells, which are useful in portable power sources and used for controlling the power flow between renewable energy sources, which drives the market growth.
Metal-air batteries are a combination of fuel-cell and traditional batteries. They are widely known for promising power storage systems with high power densities. LAB (lithium-air battery), SAB (sodium air battery), MABs (magnesium air battery), and ZAB (zinc-air battery) are commonly used metal-air batteries.
Therefore, a growing need for renewable energy sources with low-cost energy storage systems can rapidly increase the use of metal-air batteries. These batteries have new applications in technologies such as electric vehicles, plug-in hybrid electric vehicles, robotics, and energy storage systems.
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In addition, rising R&D investment for the development of battery technology is driving market growth. The metal-air batteries are cheaper as they require low manufacturing and operational cost, and hence installation of these batteries is quite inexpensive, which reduces the overhead expenses; such factors are grabbing the attention of manufacturers to increase the utilization of these batteries rather than their counterparts which is expected to bolster the market growth.
The COVID-19 pandemic had a negative impact on the demand for the metal-air battery. Negligible operation across various end-use industries has decreased these batteries' sales. Moreover, China, the largest battery-component producer, was unable to export the batteries, resulting in a delay in the end product and ultimately resulting in declination in expenditures on batteries hampering the market growth.
Metal-air Battery Market Report Highlights
Polaris Market Research has segmented the metal-air battery market report based on metal, voltage, type, application, and region:
Metal-air Battery, Metal Outlook (Revenue - USD Million, 2018 - 2030)
Metal-air Battery, Voltage Outlook (Revenue - USD Million, 2018 - 2030)
Metal-air Battery, Type Outlook (Revenue - USD Million, 2018 - 2030)
Metal-air Battery, Application Outlook (Revenue - USD Million, 2018 - 2030)
Metal-air Battery, Regional Outlook (Revenue - USD Million, 2018 - 2030)