Air Electrode Battery Market (By Battery Type: Primary, Secondary, Fuel Cell; By Application: Medical Devices, Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global air electrode battery market size was estimated at USD 1.08 billion in 2021 and it is projected to hit around USD 2.8 billion by 2030, growing at a CAGR of 11.17% from 2022 to 2030

Report Highlights

• The secondary battery segment held the largest revenue share of 47.07% in 2021.
• The primary battery segment accounted for a prominent market share in 2021.
• The transportation segment held the largest share of 44.95% in 2021 and is anticipated to expand at the fastest CAGR over the forecast period.
• The medical devices segment accounted for a significant market share in 2021.
• The Asia Pacific held the largest revenue share of 31.32% in 2021 and is projected to expand at the fastest growth rate over the forecast period. 

Rising demand for air electrode battery among the end-use markets, along with increasing R&D activities focusing on the advancement of battery technology, is likely to drive the market over the forecast period.

The air electrode battery offers several benefits, such as lower environmental impact, higher electrochemical performance, and higher storage capacity when compared to conventional ion batteries. These characteristics are expected to enhance the commercial viability of the product. The rising utility of battery energy storage systems, increasing adoption of electronic gadgets, and the growing deployment of electric vehicles are among the key factors positively influencing the industry landscape.

Industry participants are funding R&D activities in order to enhance the technical and economic aspects of air electrode battery manufacturing, offering lower battery cost, longer life, and better performance than conventional batteries. Companies are adopting several strategies, such as new product offerings, joint ventures, collaborations, and mergers & acquisitions, to enhance their foothold in the industry.

Lower energy efficiency and shorter life cycle are among the key factors expected to hinder the market growth. In addition, the coronavirus outbreak has directly impacted the industry supply chain. Electrode material producers, raw material suppliers, and battery pack manufacturers are estimated to suffer a huge setback, resulting in delayed manufacturing and marketing activities for the market.

Scope of The Report

Battery Type Insights

The secondary battery segment held the largest revenue share of 47.07% in 2021 owing to its low production cost, high energy density, and environmental friendliness. The rechargeable batteries find usage in electric vehicles (EV), portable electronic devices, and utility-scale energy storage systems. Growing demand for electronics, along with rising adoption of EV technology, is estimated to bolster the segment growth over the forecast period. 

The primary battery segment accounted for a prominent market share in 2021 owing to its higher energy density when compared to other battery types. Atmospheric air is present as a battery reactant, allowing the non-rechargeable battery to offer more energy in a given volume or weight. The non-rechargeable batteries find application in various sizes from hearing aids to cameras, thereby enhancing the product demand.

The fuel cell is anticipated to be the fastest-growing segment over the forecast period owing to its widespread usage in transportation, emergency, stationary, and portable backup power, and material handling applications. In addition, fuel cells have lower emissions and higher efficiencies when compared to conventional combustion technologies, thereby enhancing the adoption rate of air electrode fuel cell across several industries.

Application Insights

The transportation segment held the largest share of 44.95% in 2021 and is anticipated to expand at the fastest CAGR over the forecast period owing to the growing adoption of fuel cell electric vehicles. Rising research and development activities for air electrode fuel cell, along with government initiatives to boost the adoption of electric vehicles across the passenger and commercial vehicle segment, are bound to propel the segment growth over the forecast period.

The medical devices segment accounted for a significant market share in 2021 owing to the growing usage of disposable medical devices and equipment. Rising investments in superior quality medical equipment, including dental products, optical technologies, diagnostic imaging, and medical tracking applications, are expected to drive the demand for air electrode battery. 

The others segment includes energy storage, consumer electronics, and other applications, such as mobile robots and aerial drones. Widespread implementation of air electrode battery in portable and residential electronics, refrigerators, washing machines, television, tablets, and smartwatches is expected to bolster the industry growth over the forecast period.

Regional Insights

The Asia Pacific held the largest revenue share of 31.32% in 2021 and is projected to expand at the fastest growth rate over the forecast period. The proliferating electronic manufacturing market due to the ever-increasing consumer base, along with growing applications in major economies, such as China, Japan, and India, is anticipated to bolster the regional market growth. The rising deployment of electric vehicles across the region is expected to further add to the industry growth.

China offers lucrative growth opportunities for the market. It is the largest battery manufacturer globally owing to several factors, including the presence of key industry players across the country, increasing consumer demand, cheap labour, and easy availability of raw material. Rising energy storage demand owing to the significant usage of electricity grids, along with the growing need for continuous power supply, is estimated to further boost the regional market growth.

North America occupied a significant market share in 2021, with the U.S. being the largest contributor to the regional market growth. Favourable government policies encouraging the adoption of electric vehicles owing to lower emissions as compared to gasoline-powered vehicles are anticipated to fuel the industry growth across the region. Growing demand for air electrode batteries in smart devices and computers is another key factor propelling the industry growth.

Key Players

• Phinergy
• Mullen Technologies, Inc.
• Poly Plus Battery Company
• Tesla Inc.
• Hitachi Maxell Ltd.
• Volkswagen Ag
• Sanyo Electric Co., Ltd.
• BASF Global
• Panasonic Corporation
• LG Chem Ltd.

Market Segmentation

• By Battery Type Outlook

• Primary Battery
• Secondary Battery
• Fuel Cell
• By Application Outlook
• Medical Devices
• Transportation
• Military Devices
• Others
• By Regional Outlook
• North America

• The U.S.
•  Canada
• Mexico
• Europe
• The U.K.
• Germany
• France
• Asia Pacific
• China
• Japan
• India
• Central & South America
• Middle East & Africa