The zinc battery market is rapidly expanding, rising from $0.92 billion in 2023 to $1.09 billion in 2024, reflecting a CAGR of 17.9%. This growth is fueled by increasing demand for portable electronics and government policies favoring non-toxic materials. By 2028, the market is projected to reach $2.12 billion, with a CAGR of 18.2%. Key growth drivers include urban energy demands and the electrification of transportation. Major trends include advancements in zinc-air and zinc-ion batteries, as well as their integration with renewable energy sources.
Major Driver In The Zinc Battery Market
The rising demand for consumer electronics is anticipated to drive the growth of the zinc battery market. This sector encompasses devices used for entertainment and productivity, with demand surging due to technological advancements and widespread adoption of smart devices. Zinc batteries are particularly suited for low-power applications such as remote controls and toys. The Japan Electronics and Information Technology Industries Association reported in May 2023 that consumer electronics production reached $291.81 million, up from $229.768 million in May 2022. Thus, the growing demand for consumer electronics is fueling the zinc battery market.
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Zinc Battery Market Competitive Landscape
Toshiba Corporation, Energizer Holdings Inc., Duracell Inc., Eastman Kodak Company, GP Industries Limited, FDK Corporation, Nippo Ltd, ZincFive Inc., Primus Power Corp., Zpower LLC, ZAF Energy Systems Inc., Salient Energy Inc., Imprint Energy Inc., Panasonic Energy Co. Ltd., Renata SA, ZeniPower (Zhuhai Zhi Li) Battery Co. Ltd., Zhejiang Mustang Battery Co. Ltd., Multicell International Ltd., ABOUND Ltd, Enerpoly AB, Advanced Battery Concepts LLC, Linyi Huatai Battery Co. Ltd., Shenzhen Tcbest Battery Industry Co. Ltd.
Key Zinc Battery Market Trend
The zinc battery market is experiencing a shift towards advanced solutions like NiZn technology, which enhances safety and efficiency. In May 2024, ABB Inc. launched nickel-zinc (NiZn) batteries tailored for data center UPS applications. This innovative battery technology offers a safer alternative to traditional lead-acid and lithium-ion batteries, reducing the risk of thermal runaway while contributing to lower carbon footprints. The NiZn batteries' efficiency in cooling requirements also improves overall power usage effectiveness (PUE), marking a significant step toward more sustainable energy storage solutions in data centers.
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Zinc Battery Market Segmentation
The zinc battery market covered in this report is segmented –
1) By Type: Zinc-Air Battery, Nickel-Zinc Battery, Zinc-Silver Battery, Carbon-Zinc Battery, Zinc-Manganese Battery, Other Types
2) By Rechargeability: Primary, Secondary
3) By Application: Electric Vehicle, Consumer Electronics, Power Tools, Other Applications
By Geography:The regions covered in the zinc battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the zinc battery market in 2023.
The Zinc Battery Global Market Report 2024 furnishes information about the global zinc battery market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
