The global air electrode battery market size is estimated to account for USD 2.02 billion by 2027. The market is predicted to register 9.0% CAGR over the forecast duration. Increasing use of air electrode battery in various end-use applications and rising expenditure on research and development are driving the product demand.
Air electrode batteries have multiple advantages such as increased storage capacity, higher electrochemical performance and environmental friendliness. These benefits have resulted in the high adoption of these batteries compared to ion batteries. In addition, the growing use of these batteries in electronic gadgets is likely to spur their demand.
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Main features of the report:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Air Electrode Battery Market.
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• To provide country level analysis of the market for segment by application, product type and sub-segments.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Air Electrode Battery Market.
Asia Pacific held the largest share in the market with over 31.0% in 2019. Further, the region is predicted to register the highest growth over the forecast duration. Increasing penetration of electronic gadgets and rising adoption of electric vehicles are supplementing the regional growth.
Market players are increasingly investing in the research and investment manufacture cost-effective and durable batteries. Technical advancements are estimated to increase the commercial application of these batteries. In addition, industry participants are adopting various other strategies such as merger & acquisition, joint ventures, new product development and partnerships among others.
However, factors such as shorter life cycle and lower energy efficiency are projected to restrict the market growth. Further, the outbreak of COVID-19 has derailed the supply chain and has negatively affected the market growth.
Further key findings from the report suggest:
• Fuel-cell is projected to register the highest growth over the forecast duration owing to its increasing use in transportation, stationary and emergency application.
• In 2019, secondary type segment held the largest share in the air-electrode batteries market owing to the low cost of its production and eco-friendly nature.
• In 2019, the medical devices category occupied a considerable share in the market owing to the rise in the usage of disposable medical equipment.
• Asia Pacific is estimated to register the highest growth over the forecast duration owing to rising demand from China, Japan and India.
COVID-19 Impact Analysis
The outbreak of COVID-19 has negatively affected the air electrode battery market. The outbreak has led to the closure of manufacturing units, which adversely affected the production of these batteries. In addition, the pandemic has caused the shortage of raw materials and labor requirement, which delayed the ongoing production.
However, with the resumption of industrial operations, the demand is estimated to register considerable growth. In addition, government support in the development of electric and fuel cell vehicles is projected to be a major driving force for the market post-pandemic.
Global Air Electrode Battery Market: Key Players
Volkswagen Ag, Mullen Technologies, Inc., BASF Global, LG Chem Ltd., Tesla Inc., and Panasonic Corporation
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