Air Electrode Battery Market To Hit Value .02 Billion By 2027 |Grand View Rese

Posted by Mrudula Anil Karmarkar on April 21st, 2021

The global air electrode battery market size is expected to reach USD 2.02 billion by 2027, expanding at a CAGR of 9.0% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising demand for air electrode battery among the end-use markets, along with increasing R&D activities focusing on the advancement of battery technology, is likely to drive the market over the forecast period.

The air electrode battery offers several benefits, such as lower environmental impact, higher electrochemical performance, and higher storage capacity when compared to conventional ion batteries. These characteristics are expected to enhance the commercial viability of the product. The rising utility of battery energy storage systems, increasing adoption of electronic gadgets, and the growing deployment of electric vehicles are among the key factors positively influencing the industry landscape.

Industry participants are funding R&D activities in order to enhance the technical and economic aspects of air electrode battery manufacturing, offering lower battery cost, longer life, and better performance than conventional batteries. Companies are adopting several strategies, such as new product offerings, joint ventures, collaborations, and mergers & acquisitions, to enhance their foothold in the industry.

Lower energy efficiency and shorter life cycle are among the key factors expected to hinder the market growth. In addition, the coronavirus outbreak has directly impacted the industry supply chain. Electrode material producers, raw material suppliers, and battery pack manufacturers are estimated to suffer a huge setback, resulting in delayed manufacturing and marketing activities for the market.

China dominates the air electrode battery market owing to the presence of major manufacturing companies across the country, along with bulk production of batteries. The growing deployment of electric vehicles is positively influencing the air electrode battery industry landscape across China. In addition, the Chinese government provides significant funding to air battery-related projects, thereby enhancing business growth across the country.

Air Electrode Battery Market Report Highlights

• Fuel cell is anticipated to be the fastest-growing battery type segment over the forecast period owing to its widespread usage in transportation and emergency, stationary, and portable backup power applications
• The secondary battery type segment occupied the largest market share in 2020 owing to its low production cost, high energy density, and environment-friendliness
• The transportation application segment is anticipated to expand at the fastest CAGR over the forecast period owing to the growing adoption of fuel cell electric vehicles
• The medical devices segment accounted for a significant market share in 2020 owing to the growing usage of disposable medical devices and equipment
• The Asia Pacific is projected to expand at the fastest growth rate over the forecast period. Proliferating electronic manufacturing market due to the ever-increasing consumer base, along with growing applications in major economies, such as China, Japan, and India, is anticipated to bolster the regional market growth.

Air electrode batteries such as zinc-air or lithium-air batteries offer longer shelf life, stable discharge voltage, high energy density, and environmental friendliness. In the metal-air battery, the catalyst comes in direct contact with the air cathode, thereby enhancing the electron movement between the external circuits and the cathode, which leads to a stable charge-discharge cycle.

The shorter life cycle and lower energy efficiency of air batteries, when compared to ion batteries, are expected to hinder the commercial viability of the product. Moreover, COVID-19 pandemic has severely impacted the market supply chain. Raw material suppliers, electrode material producers, and battery pack manufacturers are anticipated to take a significant amount of time to recover to the pre-COVID level.

The transportation segment held the largest share of 44.8% in 2020 and is anticipated to expand at the fastest CAGR over the forecast period owing to the growing adoption of fuel cell electric vehicles. Rising research and development activities for air electrode fuel cell, along with government initiatives to boost the adoption of electric vehicles across the passenger and commercial vehicle segment, are bound to propel the segment growth over the forecast period.

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Market players adopt several strategies, such as mergers & acquisitions, collaborations, joint ventures, and new product offerings. The strategies enable the companies to strengthen their foothold in the market. Industry participants are significantly investing in research and development initiatives in order to improve the technical aspects of air electrode battery offering better performance, longer life, and lower battery cost as compared to conventional batteries. Some of the prominent players in the air electrode battery market include:

• Phinergy
• Mullen Technologies, Inc.
• Poly Plus Battery Company
• Tesla Inc.
• Hitachi Maxell Ltd.
• Volkswagen Ag
• Sanyo Electric Co., Ltd.
• BASF Global
• Panasonic Corporation
• LG Chem Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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