Metal-Air Battery Market Research, 2031
The global metal-air battery market was valued at $424 million in 2021, and is projected to reach $1.6 billion by 2031, growing at a CAGR of 15% from 2022 to 2031. Metal-air batteries generate power by using oxygen from the atmosphere. The benefit of this is that the oxygen does not need to be held inside the battery such as alkaline or Li-ion batteries. The positive electrode used in metal-air batteries is carbon-based and covered in some precious metals to react with oxygen. The electrode used is made up of metals such as lithium, zinc, magnesium, and aluminum. These batteries are sometimes referred to as fuel cells because the air is flowing through the cells present in the batteries.
The demand for energy has greatly increased owing to the ongoing expansion of the global economy. The conventional non-renewable energy sources on earth are scarce. Consequently, the creation of new energy technologies is crucial for a sustainable future. Ideal alternatives to satisfy the requirement for energy storage is metal-air battery technology. The metal-air battery market growth appears to be the rise in demand for storage batteries with high energy densities. The metal-air batteries can perform better than Lithium-Ion batteries as they can store more energy density. The metal-air batteries are appealing not just as portable power sources for electronics and electric cars, but also as convincing energy storage systems to control the flow of energy between renewable energy generators, such as wind turbines and solar panels, and electric grids. However, large investment in the research and development of the metal-air battery is anticipated to hamper the global market over the forecast period.
The metal-air battery market expansion is anticipated to be fueled by technological advancements such as 3D printing technology and laser processing for the manufacturing of metal-air batteries. Manufacturers are concentrating on developing small, powerful batteries which are expected to expand the market and drive the metal-air battery market growth. Metal-air battery in the automobile industry has emerged widely as alternatives to Li-ion batteries, due to their greater energy capacity, cost-effectiveness, and environmental friendliness metal-air batteries are encouraging for future generations of electric vehicle. In June 2021, the International Advanced Research Centre for Powder Metallurgy and New Materials, an independent research and development facility of the Department of Science and Technology developed a profitable electrocatalyst that can improve the performance of metal-air batteries while also being more affordable.
The key players profiled in this report include 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 metal-air battery market is segmented into Metal, Voltage and Application.
The global metal-air battery market is segmented on the basis of metal, voltage, application, and region. By metal, the market is sub-segmented into aluminum, iron, lithium, zinc, and others. By voltage, the market is classified into low, medium, and high. By application, the market is classified into electric vehicles, military electronics, stationary power, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By metal, the lithium metal sub-segment dominated the market in 2021. In lithium-air batteries, electricity is generated through the oxidation of lithium at the anode and the reduction of oxygen at the cathode. The highest specific energy batteries are those made of lithium-air. Maximum lithium-air batteries may have the maximum energy density in the range of about 3,458-Watt-hours per kilogram, theoretical values, which is significantly higher than that of Li-ion batteries. These are predicted to be the major factors affecting the metal-air battery market size during the forecast period too.
The aluminum-air battery uses oxygen from the air as a cathode and aluminum as an anode in an electrolyte solution. Aluminum-air batteries (Al-air batteries) generate power through the interaction of aluminum with atmospheric oxygen. They have one of the highest energy densities of any battery. However, an electric car using aluminum batteries has the potential to have a range that is up to eight times greater than one with a lithium-ion battery while also being substantially lighter in overall weight. This is environmentally friendly and readily available. these are predicted to be a major factors fueling the metal-air battery market size during the forecasted period.
By voltage, the low voltage sub-segment dominated the global metal-air battery market share in 2021. The growth of this sub-segment can be attributed to the use of metal-air batteries for manufacturing electronic devices. For instance, the metal-air battery is widely used for a variety of electronics products, including watches, lighting systems, hearing aid, pacemaker, cardiac monitoring systems, and others. Such applications of metal-air batteries in the electronics sector are bound to create a scope of growth for the sub-segment during the forecast period.
By application, the electric vehicles sub-segment dominated the global metal-air battery market analysis in 2021. The metal-air battery technology offers a high thermotical voltage energy density, also it is a recyclable and environmentally friendly battery. This system appears to be most promising for electric vehicles than conventional Li-ion batteries. These batteries may be crucial in the interim as the increasing trends in the market to switch from petrol-powered cars to electric-powered vehicles.
By region, Asia-Pacific dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period. The metal-air battery demand in countries, namely China and India, is growing rapidly as it is a clean and alternative to gasoline-based fuels. This is mostly a result of the rising demand for improved metal-air batteries from the consumer electronics industry, renewable energy sources, and the electric car industry. For instance, in July 2022, Hindalco signed a memorandum of understanding with Israel’s Phinergy the pioneers in metal-air battery technology to develop and manufacture aluminum plates for aluminum-air batteries in India for electrical vehicles.
Highlights of the Report
- The report provides an exclusive and comprehensive analysis of the global metal-air battery market trends along with the metal-air battery market forecast
- The report elucidates the metal-air battery market opportunity along with key drivers, and restraints of the market. It is a compilation of detailed information, inputs from industry participants and industry experts across the value chain, and quantitative and qualitative assessment by industry analysts.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the market for strategy building
- The report entailing the metal-air battery market analysis maps the qualitative sway of various industry factors on market segments as well as geographies
- The data in this report aims at market dynamics, trends, and developments affecting the metal-air battery market growth
COVID-19 Impact on Metal-air Battery Industry
- The COVID-19 pandemic had an impact on a number of businesses. To slow the pandemic's rapid spread, governments all around the world enacted stringent lockdown procedures and social segregation standards. During the early phases of the epidemic, factories all across the world were shut down.
- COVID-19 has had a severe effect on a number of businesses, including the automotive industry, which has caused a sharp decrease in automotive sales. The demand for metal-air batteries decreased significantly worldwide as a result of their use in automobiles.
- China is the world's top manufacturer of metal-air batteries. However, because China was the epicenter of the coronavirus pandemic, its export suffered, which decreased the manufacturing of metal-air batteries.
- The demand from end-use industries was affected, such as the automobile, electronics appliances, and other industries which are directly dependent on metal-air batteries. The COVID-19 pandemic's impact on supply chain interruptions, restricted borders, and import-export restrictions, had affected metal-air battery manufacturing widely.
- The establishment of new metal-air battery technology projects has been hampered by the global economic slowdown because, the majority of government funding has been directed toward the healthcare industry due to the rapid spread of COVID-19, which had a significant negative impact on the metal-air battery market.
Metal-Air Battery Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.6 billion |
 Growth Rate | CAGR of 15% |
 Forecast period | 2021 - 2031 |
 Report Pages | 260 |
 By Metal |
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 By Voltage |
|
 By Application |
|
 By Region |
|
 Key Market Players | GP Batteries International Limited, Ionomr Innovations Inc., Phinergy, Renata SA, log 9 materials, ZAF Energy Systems, ACTXE Limited, Energizer Holdings, Inc., PolyPlus Battery Company, Zinc8 Energy Solutions Inc., Arotech Corporation |
Analyst Review
Increased demand for high energy density storage options for voltage stability and system stability, rising consumer demand for an electric car, and increasing shift towards green energy sources to reduce environmental pollution are projected to fuel the growth of the global metal-air battery market during the forecast period. The demand for metal-air batteries in electronic devices is influenced favorably by the shrinking size of electronic devices and the rise in demand for batteries with high energy density and cheap costs. However, high initial investments associated with the design and development of metal-air batteries are the key factors expected to hamper the market growth during the forecast period. Additionally, it is anticipated that the increasing global rise in demand for light, cost-effective, and high energy density metal-air batteries from the aerospace industry, military, electronic manufacturing, and electric vehicles industry is anticipated to create better growth opportunities in the metal-air battery market.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2031, followed by Europe, North America, and LAMEA. The rise in demand for electric vehicles in the region is the key factor responsible for the leading position of North America and Asia-Pacific in the global metal-air battery market.
Rising application of metal-air batteries in electric vehicles is anticipated to boost the metal-air battery market in the upcoming years.
Electric vehicles sub-segment of the application sub-segment acquired the maximum share of the global metal-air battery market in 2021.
The major growth strategies adopted by metal-air battery market players are investment and agreement.
Asia-Pacific will provide more business opportunities for the global metal-air battery market in future.
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 are the major players in the metal-air battery market.
Automotive industry leaders and electronic equipment manufacturers are the major the major customers in the global metal-air battery market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global metal-air battery market from 2021 to 2031 to determine the prevailing opportunities.
The increase in demand for storage systems with high energy density are expected to drive the adoption of metal-air battery.
The diverse applications of metal-air battery across electric vehicles, electronics equipment, aerospace, military, and other sectors is the major market driver. In addition, the use of metal-air to facilitate clean energy transition and to reduce the dependence on lithium-ion batteries is estimated to generate excellent opportunities in the metal-air battery market
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