Zinc-air batteries have gained considerable popularity as good storage systems for small devices. The expanding use of zinc-air batteries across a varied number of applications such as safety lamps, electric cars, small devices, remote signaling and communication, and others will bring extensive growth prospects for the zinc-air batteries market.
Swelling demand for energy storage solutions that are affordable, efficient, and eco-friendly has increased the popularity of zinc-air batteries, eventually boosting the growth rate. These factors will invite tremendous growth opportunities for the zinc-air batteries market between 2018 and 2026.
Zinc-air batteries generally work like conventional batteries but derive electrical power from chemical reactions. The chemicals in the batteries react with outside air, which is oxygen. The molecules of oxygen enter the battery via tiny holes and then the further process helps in generating electrical energy.
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The emergence of zinc-air batteries as a prominent storage solution will bring immense growth opportunities for the global market. These batteries come in two types: rechargeable and non-rechargeable. From telecom to the automotive industry, the application landscape of zinc-air batteries has broadened substantially.
Transparency Market Research’s (TMR’s) report on the zinc-air batteries market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on zinc-air batteries by TMR suggests a stable growth period.
According to the TMR experts, the market for zinc-air batteries is prognosticated to expand at 8.2 percent CAGR during the forecast period of 2018-2026. In the context of valuation, the zinc-air batteries market is estimated to reach a valuation of US$ 2848.90 mn by 2026. The global market was valued at US$ 1414.45 mn in 2017.
Small Devices Emerge as Dominant Growth-Generator Segment for Zinc-Air Batteries Market
The propelling use of small devices such as hearing aids, watches, etc. will invite profitable growth for the zinc-air batteries market. The benefits offered by zinc-air batteries in small devices will serve as a good growth contributor. Some vital benefits are consistent voltage rate, superior energy density, and affordability.
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Benefits of Zinc-Air Batteries over Lithium-Particle Batteries Increase Growth Prospects
Zinc-air batteries are nearly 30 percent affordable as compared to lithium-particle batteries. Further, these batteries are safer than lithium-particle batteries as they do not pose any hazards related to fire. The energy thickness of zinc-air batteries is more than lithium-particle batteries. These aspects help in escalating the growth prospects of the zinc-air batteries market.
Worldwide Popularity of Electric Vehicles has Profound Impact on Zinc-Air Batteries Market Growth
The depleting fossil fuel reserves and the harmful effects of petrol and diesel on the environment is encouraging many individuals around the world to adopt electric vehicles. The government bodies of many countries are also promoting the use of electric vehicles by granting incentives and subsidies on their purchase. Zinc-air batteries are increasing their influence across the electric vehicles sector exponentially as they have a superior theoretical energy density as compared to lithium-ion batteries. These aspects bode well for the growth of the zinc-air batteries market.
Zinc-Air Batteries Market: Key Growth Drivers
- The use of zinc-air batteries in the telecom industry will invite considerable growth during the forecast period.
- The expanding focus on improving the traffic infrastructure across numerous countries to avoid mishaps and road accidents will prove to be a growth booster for the zinc-air batteries market. These batteries are prominently used in LED traffic signals, admonition signals, and traffic signs.
- Low weight of zinc-air batteries and other beneficial properties will help in sowing the seeds of growth.
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Some well-entrenched players in the zinc-air batteries market are Spectrum Brands Holdings, Inc., Berkshire Hathaway Inc., and Energizer Holdings.
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