Promising Growth in Energy Storage
The “Global Zinc Battery Market by Battery Type (Zinc-air, Nickel-zinc, Zinc-ion, Zinc-bromine), Rechargeability (Primary & Secondary), Application (Medical, Utilities, Automotive & Transportation, Industrial, Consumer Devices) and Region – Forecast to 2029” report has been added to ResearchAndMarkets.com’s offerings. The global zinc battery market is expected to grow from USD 1 billion in 2024 to USD 2 billion by 2029, with a CAGR of 13.6%.
The zinc battery market’s growth is driven by several factors, including the benefits of zinc batteries over other chemistries, the abundance of zinc metal, and increasing global investments in grid infrastructure. The market is poised to benefit from the rising reliance on data centers and the development of rechargeable zinc-air batteries.
Zinc-Bromine Batteries Leading the Way
Zinc-bromine batteries are projected to witness the highest CAGR during the forecast period. These batteries, which use zinc and bromine ions in their electrochemical reactions, are gaining popularity in grid-scale energy storage solutions. They are rechargeable, with zinc as the anode and bromine as the cathode, and use an aqueous zinc bromide solution that circulates between the anode and cathode compartments.
The secondary battery segment is likely to witness higher growth between 2024 and 2029. Zinc-ion, zinc-bromine, and nickel-zinc batteries fall under this category. Unlike primary batteries, secondary batteries can be discharged and recharged multiple times, making them more sustainable and cost-effective in the long term. Companies such as Enerpoly AB, Salient Energy, Redflow Limited, Zn2H2 Inc., Asir Technologies, Inc., and ZincFive are leading in this segment.
Utility Sector’s Significant Market Share
The utility sector is expected to hold the second-largest market share for zinc battery applications during the forecast period. As renewable energy sources like solar and wind become more prominent, efficient energy storage solutions are crucial. Zinc battery technologies are emerging as promising candidates to support a more resilient and sustainable grid.
North America is projected to hold the second-largest market share by 2029. The region is home to many key market players and research institutes developing zinc batteries. Companies headquartered in North America are focusing on developing zinc battery technology for various applications, including medical, automotive, consumer devices, and utilities. Governmental support for battery companies will further accelerate the market’s growth in the region, estimated to account for 31.7% of the total zinc battery market share in 2024.
Comprehensive Market Analysis
This report provides detailed insights into the zinc battery market based on battery type, rechargeability, application, and region. It reviews market drivers, restraints, opportunities, and challenges, offering both qualitative and quantitative aspects. Key drivers include the benefits of zinc batteries over other chemistries, the abundance of zinc metal, and increasing global investment in grid infrastructure. Challenges include technical drawbacks and the presence of alternative battery technologies.
The report offers insights into product development, innovation, market diversification, and competitive assessment. It provides detailed information on upcoming technologies, research and development activities, and new product launches in the zinc battery market. Additionally, it analyses the market across various regions, offering exhaustive information about new products, untapped geographies, recent developments, and investments in the zinc battery market.
Competitive Landscape
Leading players such as Eastman Kodak, Panasonic Energy, Duracell, and Energizer Holdings are assessed in terms of market shares, growth strategies, and product offerings. This comprehensive analysis aims to provide valuable insights for stakeholders in the zinc battery market.
Source：globenewswire.com
