The metal-air battery is a unique fuel cell that uses metal as fuel and produces redox reaction with oxygen in the air to create electrical energy. The metal-air battery uses active metal as the anode, which has many advantages such as safety, environmental protection, and high energy density. It has excellent development and application prospects and even hoped to replace the primary power battery type of current new energy vehicles-lithium ion power battery.
The global metal-air battery market expected to increase market value by USD 1.2 billion, with spurring CAGR in the forecast period from 2020-2027. The global metal-air battery market’s share is rising due to its emerging applications in high-energy storage source devices and cost-effectiveness.
The market demand for the metal-air battery is emerging as in many developed countries, the battery problems restrict the adoption of electric vehicles due to the high cost of lithium-ion batteries. If electric vehicle manufacturing companies want a breakthrough, then there is a requirement of an ideal battery. Thus, metal-air batteries are a particular fuel cell and a new generation of the green storage battery. It has a low manufacturing cost, simple structure, low price, and superior performance. Therefore, its ideal characteristics are the requirement for the electric vehicle market, which helps drive its global market demand.
Moreover, for the production of metal-air batteries, the available raw materials are relatively abundant. At present, the metal-air batteries that have made research progress mainly include aluminum-air batteries, magnesium-air batteries, zinc-air batteries, and lithium-air batteries. Some of these metal-air batteries already have the conditions for mass production while some are still in the laboratory stage. Some have achieved good application results in electric vehicles, and are about to be loaded with new energy vehicles on a large scale.
Furthermore, with the continuous increase in the global economy and, unfortunately, the earth’s conventional non-renewable resources such as coal, oil, natural gas, and fuel are available at a limited amount. Therefore, it significantly increases the demand for energy storage devices for the development of a sustainable society. There are various devices in the market, such as bio-fuel batteries, supercapacitors, and metal-air batteries. Recently, the metal-air battery has shown significant growth due to its advantages of operation in the open air. Its cathodes use oxygen from the air, which helps reduce the battery weight.
In addition, the metal-air batteries are cheaper than other types of cells in the market as its cathode source comes from the air, which is abundantly available, and anode can make from low-cost metal. Thus, it increases its application for various purposes such as wind turbines, electric grids, and other end-users.
The increasing market demand for high-energy storage density is significantly rising due to the depletion of natural resources. There are various storage devices available in the market. The need for metal-air battery storage devices is fueling as it is a compact power source for portable electronic and electric vehicles and a first energy storage device that manages energy flow among renewable energy generators.
The increasing environmental concern, increasing pollution, and the emerging automotive industry increasing the market demand for shifting towards green energy. The use of green energy is increasing owing to the replacement of fuel to the battery in the automotive industry, which also has high-energy-density, less self-discharge quality, and cost-effective advantages. Therefore, metal-air batteries are contributing to green energy adoption owing to its various benefits.
Based on the metal, the global metal-air battery market segmented into Zinc-air, Lithium-air, Aluminum-air, Iron-air, Others. The zinc-air segment is dominating with maximum share in the global metal-air battery market in the forecast period. Zinc-air batteries have high specific energy and power, which is higher than most current secondary batteries, related to its reaction mechanism and operating efficiency. It has various advantages such as high energy density, low-cost and long-term storage, high power coefficient, and self-discharge is relatively low. Also, it is a kind of high-efficiency environment-friendly battery that uses oxygen in the air as a positive electrode active material.
Based on the voltage, the global metal-air battery market classified into Low (Below 12V), Medium (12V to 24V), High (Above 36V). The low voltage (below 12V) segment dominates the market share for the global metal-air battery market. It is mainly due to the bolstering demand for low-voltage batteries used in various electronic and communication devices. These batteries have a long service life and high-energy-density and, thus, used as a primary battery source, such as hearing aid, cardiac telemetry monitoring, lighting system, and watches.
Based on the type, the global metal-air battery market bifurcated into Primary Batteries, Secondary/Rechargeable Batteries. The primary batteries segment helps in fueling the market share for the global metal-air battery market. It is mainly due to the metal-air battery features, which have an abundant cathode from the air, reducing the weight of the battery. Therefore, it can easily use in a wide range of devices and applications as a primary battery source.
Based on the application, the global metal-air battery market classified into Electric Vehicles, Military Electronics, Electronic Devices, Stationary Power, Others. The electric vehicle segment captures the largest market share for the global metal-air battery market in the forecast period. It is mainly owing to the various benefits offered by metal-air batteries, such as low-cost. High energy density and eco-friendless are driving the market share. Moreover, with increasing pollution and depletion of non-renewable resources, the global metal-air battery market will show significant growth in the future.
Based on geography, the global metal-air battery market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world’s fastest-growing global metal-air battery market, accounting for the largest share. The tremendous growth and benefits of metal-air batteries, the growing automotive industry, drives the market share for metal-air batteries in the Asia Pacific region.
Companies such as NantEnergy Inc., Phinergy, Log 9 Materials, Arotech Corporation, PolyPlus Battery Company, Fuji Pigment Co., Ltd., GP Batteries International Limited., Zinc8 Energy Solutions Inc., E-Stone Batteries B.V., Arconic Inc., Energizer Holdings, Inc., and others are key players for the global metal-air battery market.