Zinc-ion Battery Market Size, Share Global Analysis Report, 2022–2028

Industry Insights

[205+ Pages Report] According to Facts and Factors, during the forecast period of 2022 to 2028, the global zinc-ion battery market is estimated to develop at a compound annual growth rate (CAGR) of 3.5%. The global zinc-ion battery market was valued at USD 9.2 billion in 2021, and it is predicted to exceed USD 12.5 billion by 2028. The study investigates several elements and their consequences on the growth of the zinc-ion battery market. 

Market Overview

Battery technology is continually evolving, and the implementation and concepts of these advances are becoming increasingly significant as more and more sectors and individuals pursue "greener" energy choices. As the world's reliance on fossil fuels declines, an emphasis is being placed on cleaner energy sources and techniques for storing & distributing that power. Battery technology is a critical component of the worldwide energy revolution.

Zinc-ion batteries are a better alternative than lithium-ion batteries, which have dominated the market in a number of applications for years, most notably electric autos and other battery-powered items. Zinc is the fourth most plentiful metal on the planet, which adds to its low cost, making it an interesting element for use in batteries. Although zinc-based batteries have been around since the 1930s, they have only recently risen to prominence in the electrical, automotive, and other industries.

COVID-19 Impact

The COVID-19 outbreak has hampered the expansion of the zinc-ion battery market. Market growth has slowed throughout the epidemic, limiting the availability of batteries and other critical components due to major disruptions in the commercial and global economies.

Growth Drivers

• Increasing adoption of zinc-ion batteries to boost the market growth

Zinc-ion batteries' benefits, features, and advantages, such as high energy density, environmental benefits, high discharge voltage, lightweight, safety, high performance at low temperatures, long shelf life, and low cost, make them suitable for a wide range of applications in electric vehicles, consumer goods, medical aids, battery-powered tools, and aerospace & military. This encourages the use of zinc-ion batteries over nickel-cadmium and lithium batteries, propelling the global zinc-ion battery market forward.

Restraints

• Presence of many alternatives can stymie market growth

On the market, many types of batteries (with various chemical constituents) are utilized as alternatives and substitutes for one another. These batteries are used in a wide variety of goods for a variety of purposes. Zinc-ion batteries are increasingly being used in a variety of applications due to their advantages and benefits, although there are multiple alternatives to zinc batteries available, including sodium-ion batteries, lithium-ion batteries, and other alkaline batteries. These batteries are widely available on the market and are utilized in a variety of applications. As a result, the market's expansion is projected to be hampered by the simple availability of substitute and alternative items.

Segmentation Analysis

The global zinc-ion battery market is segregated on the basis of type, end-user, and region.

By type, the market is classified into a zinc-Mn battery, zinc-chloride battery, zinc-carbon battery, zinc-silver battery, zinc-nickel battery, and zinc-air battery. The zinc-air battery category contributes to a large part of the market and is expected to grow at a significant CAGR over the forecast period, owing to the increased use of zinc-air batteries in LED traffic signals, signboards, and consumer electronic items. Zinc-air batteries power a wide range of electronic devices and equipment used in daily life, including hearing aids, radios, and watches. These batteries have a high power density and are less expensive than lithium-ion batteries. They are also lighter in weight, making them more suitable for use in compact devices.

Because of its expanding applications in the military and space sectors, the zinc-silver battery segment is expected to grow at a significant CAGR during the forecast period. Zinc-carbon batteries are increasingly being used in a variety of products, which is projected to drive demand for zinc-carbon batteries throughout the forecast period.

By end-user, the market is segmented into consumer electronics, power tools, electric vehicles, and others. The consumer electronics sector comprises the majority of the market and is expected to expand at a significant CAGR over the forecast period due to the growing adoption and usage of electronic products by people in their daily lives. Because of the advantages and benefits of zinc-ion batteries compared to lithium-ion batteries, the consumption of zinc batteries is predicted to rise in a variety of applications. Rising technological developments in battery technology have increased the use of various battery-powered products around the world. Furthermore, electric vehicles are outfitted with a plethora of devices that consume a massive portion of battery power, which is likely to drive up demand for zinc-ion batteries.

Report Scope

Regional Landscape

• Asia Pacific region accounts for a significant share of the market

The Asia Pacific has the largest market share, followed by North America. During the forecast period, the Asia Pacific market is expected to grow at a considerable CAGR. Due to factors such as increased consumption of consumer electronics and technologically improved products, this region is predicted to lead the global zinc-ion battery market over the forecast period. The market in North America is predicted to rise at a considerable CAGR over the forecast period due to a variety of factors such as increased use of advanced technology devices, rising populations, and an increased market for consumer electronics, which will drive demand for zinc batteries. Further, because of the region's growing demand for light commercial vehicles and electric passenger cars, the zinc-ion battery market in Europe is expected to hold a significant part of the industry.

Recent Developments

• February 2020: ZPower, the world's sole creator of rechargeable zinc-silver microbatteries, announced a collaboration with American Equus today. American Equus, a firm known for its everyday equestrian product innovation, chose ZPower batteries for a new range of smart gadgets.
• October 2019: ZPower, the world's sole provider of zinc-silver microbattery technology, collaborated with Energous Corporation, the creator of WattUp®, groundbreaking wireless charging 2.0 technology, to create WattUp-enabled ZPower rechargeable microbatteries.

Competitive Landscape

Some of the main competitors dominating the global zinc-ion battery market are

• Zhejiang Mustang Battery Co. Ltd.
• Energizer Holdings Inc.
• ZPower
• Nippo Batteries
• ZeniPower (Zhuhai Zhi Li) Battery Co. Ltd.
• GPB International Limited
• Panasonic Corporation
• FDK CORPORATION
• Shenzhen Tcbest Battery Industry Co. Ltd.
• Eastman Kodak Company
• Shenzhen BetterPower Battery Co. Ltd.
• ZincFive Inc.
• Linyi Huatai Battery Co. Ltd.
• Zhejiang Yonggao Battery Co. Ltd.
• Primus Power.

The global zinc-ion battery market is segmented as follows:

By Type Segment Analysis

• Zinc-Mn Battery
• Zinc-chloride Battery
• Zinc-Carbon Battery
• Zinc-Silver Battery
• Zinc-Nickel Battery
• Zinc-Air Battery

By End-User Segment Analysis

• Consumer Electronics
• Power Tools
• Electric Vehicles
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America