July 18, 2024

Breathing Batteries Is Fastest Growing Segment Fueling The Growth Of Breathing Battery Market

Market Overview:

Breathing batteries, also known as zinc-air batteries, utilize oxygen from the air as the oxidizing agent instead of containing it within the battery itself like most batteries. Breathing batteries have advantages such as long storage life, high energy density, and are cost-effective. They are used in applications that require intermittent power requirements like hearing aids.

Market key trends:

One of the key trends in the breathing battery market is the increasing adoption of zinc-air batteries in electric vehicles due to their higher energy density compared to lithium-ion batteries. Zinc-air batteries have over twice the energy density of lithium-ion batteries, which allows electric vehicles to travel longer distances on a single charge. Researchers are conducting extensive R&D to improve the efficiency and charging ability of zinc-air batteries to make them a viable alternative power source for EVs.

Segment Analysis
The global breathing battery market is segmented based on type, application, and geography. By type, the market is classified into zinc-air battery and lithium-air battery. Amongst these, the lithium-air battery segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Lithium-air batteries have high theoretical specific energy densities and are considered as promising candidates for electric vehicles. By application, the market is bifurcated into electric vehicles, stationary power, and others. The electric vehicles segment accounted for the largest share in 2022 due to increasing focus on battery-operated vehicles and rising adoption of EVs worldwide.

Key Takeaways

The Global Breathing Battery Market Size is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand for energy-efficient batteries with long battery life. The market size for 2023 is US$ 19.39 Mn.

Regional analysis- Asia Pacific region dominated the breathing battery market in 2022 and is expected to continue its dominance during the forecast period. Rapid industrialization and technological advancements in countries such as China and Japan are driving the adoption of lithium-air batteries in the region.

Key players operating in the breathing battery market are IBM Corporation, Zinc8 Energy Solutions Inc., PolyPlus Battery Company, Panasonic, Tesla, Fuji Pigment, and Breathe Battery Technologies Limited. In 2022, IBM Corporation held the largest market share owing to its extensive R&D activities in the field of lithium-air battery technology.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it