Global Zinc Battery Market Expected to Reach USD 11,439.5 Million by 2027, With a CAGR Of 3.2% | Growth Market Reports
PUNE, India, Aug. 6, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Zinc Battery Market by Types (Zinc-Air Battery, Nickel-zinc Battery, Zinc-Silver Battery, Carbon-zinc Battery, Zinc-Mn Battery), Applications (Electric Vehicle, Consumer Electronics, Power Tools, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 8,926.0 Million in 2019 and is anticipated to grow at a healthy growth rate of 3.2% by the year 2027. The global Zinc Battery market is anticipated to grow significantly during forecast period.
Key Market Players Profiled in the Report
- ZincFive Inc.
- FDK CORPORATION
- Eastman Kodak Company
- ZPower
- ZeniPower (Zhuhai Zhi Li) Battery Co. Ltd.
- Primus Power
- Shenzhen BetterPower Battery Co. Ltd.
- Zhejiang Mustang Battery Co. Ltd.
- Linyi Huatai Battery Co. Ltd.
- Nippo Batteries
- GPB International Limited
- Shenzhen Tcbest Battery Industry Co. Ltd.
- Energizer Holdings Inc.
- Panasonic Corporation
- Zhejiang Yonggao Battery Co. Ltd.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Zinc Battery Market
Based on types, the global zinc battery market is divided into zinc-air battery, nickel-zinc battery, zinc-silver battery, carbon-zinc battery, zinc-chloride battery, and zinc-Mn battery. The zinc-air battery segment accounts for a key share of the market and is anticipated to expand at a considerable CAGR during the forecast period, owing to increase in usage of zinc-air batteries in LED traffic lights, traffic signs, and consumer electronics products. The zinc-silver battery segment is projected to expand at a substantial CAGR during the forecast period, owing to its increasing application in the military and space sector. Increase in usage of carbon zinc batteries in various devices is expected to boost the demand carbon zinc batteries market during the forecast period. Zinc–air batteries are used to power a large number of electronic gadgets and appliances used in day-to-day life, such as watches, hearing aids, and radios. These batteries have high energy density and are cheaper alternatives to lithium-based batteries. They are also lighter in weight, which increases their application in small devices. Nickel-zinc (NiZn) batteries offer various benefits such as high energy density, superior power density, low cost, better life cycle, longer shelf life, and high discharge rates (these batteries excel at high discharge rates, while retaining thermal stability), and are capable of fast charging. Nickel-zinc (NiZn) batteries offer safety, as they are non-flammable and cause no threat to the environment.
Based on applications, the global zinc battery market is segmented as electric vehicle, consumer electronics, power tools, and others. The consumer electronics segment accounts for a key share of the market and is anticipated to expand at a considerable CAGR during the forecast period, owing to the increasing popularity and usage of consumer electronics by people in day-to-day life. Rising adoption of zinc-ion batteries over lithium-ion batteries due to their advantages and benefits is expected to boost the demand for zinc batteries in various applications. Growing technological advancements in battery technologies has boosted the usage of various battery-operated equipment worldwide. Moreover, electric vehicles are equipped with numerous features that consume a significant amount of battery power, which in turn, is expected to boost the demand for zinc batteries. Nickel-zinc battery offers high power, high shelf life, high energy density, and cost-effective performance levels. Nickel-zinc batteries are used at high and low temperatures, and are safe, environmentally clean, recyclable, and do not require any special handling. Zinc-air battery is one of the widely used types of batteries in portable consumer electronics products such as watches, hearing aids, and pagers. Moreover, silver-zinc batteries are preferred for small consumer electronics products and devices, as they provide higher energy density values and longer run time than compared others batteries.
Based on regions, the global zinc battery market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a major share of the market, followed by Europe. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. Asia Pacific is expected to lead the global zinc battery market during the forecast period due to factors such as an increase in adoption of consumer electronics and technologically advanced products. The zinc battery market in Europe is projected to hold a key share of the market due to increasing demand for electric passenger cars and light commercial vehicles by people in the region. The market in North America is expected to expand at a significant CAGR during the forecast period due to various factors such as growing adoption of advanced technology products, rising populations, and growing demand for consumer electronics, thus propelling the demand for zinc batteries.
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Key Takeaways from the Study:
- The market in North America holds a significant market share, 1,782.5 million in 2019 and is anticipated to reach 2,256.2by the end of 2027, owing to rise in the adoption of technologically advanced products and consumer electronics in the US.
- China is expected to hold a substantial share of the market, owing to increase in the adoption of consumer electronics products. Thus, in turn, is driving the market in the country.
- Rising applications of zinc-carbon battery in toys and remote controls, wall-mounted and table clocks, and flashlights is expected to drive the zinc-carbon segment during the forecast period.
- In terms of value, the Carbon-zinc Battery segment accounted for substantial share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period.
- In terms of value, the Consumer Electronics segment held significant share of the market in 2019, and is projected to expand at a considerable CAGR during the forecast period, owing to increasing adoption of consumer electronics products.
- Energizer Holdings, Inc., Panasonic Corporation, FDK CORPORATION, Zhejiang Mustang Battery Co., Ltd., and Linyi Huatai Battery Co., Ltd. are major player operating in the market.
Read 174 Pages Research Report with Detailed ToC on "Global Zinc Battery Market by Types (Zinc-Air Battery, Nickel-zinc Battery, Zinc-Silver Battery, Carbon-zinc Battery, Zinc-Mn Battery), Applications (Electric Vehicle, Consumer Electronics, Power Tools, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Types
- Zinc-Air Battery
- Nickel-zinc Battery
- Zinc-Silver Battery
- Carbon-zinc Battery
- Zinc-Mn Battery
- Others
By Application
- Electric Vehicle
- Consumer Electronics
- Power Tools
- Others
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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