In terms of revenue, the Global Metal-Air Battery Market is expected to reach USD 1,173 million by 2028, growing at a CAGR of 13.73% from 2022 to 2028. Metal Air-Battery is a novel discovery to replace or as an alternative to lithium-ion batteries. This can be used as an alternative source of energy for EV cars and bikes. These batteries are light in weight than the conventional and LI batteries. This is the key factor that is expected to generate revenue from the Metal-Air Battery Market.
- Under the metal segment zinc-air, sub-segment is anticipated to dominate the segment for metal-air battery market and grow at a substantial CAGR. This is attributed due to the high demand for this metal for battery production as it is considered to be light in weight and has high storage capacity.
- Medium sub-segment held a significant market share in 2021 as mostly medium voltage (12V to 24V) batteries are commonly used in electronic appliances.
- Asia Pacific is expected to grow at the fastest CAGR in the coming years. This region is growing at a rapid pace due to high demand and low cost of production.
Some of the key players dominating the Metal-Air Battery Market include - Arotech Corporation (US), NantEnergy Inc. (US), PolyPlus Battery Company (US), Phinergy (Israel), Log 9 Materials (India), Fuji Pigment Co. Ltd. (Japan), Zinc8 Energy Solutions Inc. (Canada), GP Batteries International Limited (Hong Kong), Arconic Inc. (US), E-Stone Batteries B.V. (Netherlands), Energizer Holdings Inc. (US), Excellatron Solid State LLC (US), EnZinc (US), Ionomr Innovations Inc. (Canada), Minusquare (US), Iskra (Slovenia), Renata SA (Switzerland), ACTXE Limited (China), ZAF Energy Systems (US), MAL Research & Development Limited (UK), Aqua Power Systems (Japan), Phinergy Marine (Israel), RiAlAiR Ltd. (UK), Mag One Products Inc. (Canada), and e-Zn (Canada)..
Metal–air batteries have a theoretical energy density that is much higher than that of lithium-ion batteries and are frequently advocated as a solution toward next-generation electrochemical energy storage for applications including electric vehicles or grid energy storage. However, they have not fulfilled their full potential because of challenges associated with the metal anode, air cathode, and electrolyte. These challenges will have to be properly resolved before metal-air batteries can become a practical reality and be deployed on a large scale. This is the major restraining factor for Metal-Air batteries.
Asia Pacific is expected to grow at the fastest CAGR in the coming years due to the high demand for metal-air batteries in the automotive industry. Major Key players are investing huge amounts of funds in the Research and Development of this technology, especially in this region. The Asia Pacific is considered to be the future manufacturing hub for automotive. China to be the epic center for battery manufacturing, the huge potential is predicted for metal-air battery manufacturing in recent years. Low cost of production and high demand is expected to flourish the metal-air battery market.