The zinc battery market consists of sales of zinc-alkaline batteries, zinc-polymer batteries, and zinc-iron batteries. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The zinc battery market size has grown rapidly in recent years. It will grow from $0.92 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to rising demand for portable electronics, zinc batteries have historically been used in automotive applications, military and aerospace needs, government policies and regulations promoting the use of non-toxic and recyclable materials, and cost-effective solution.
The zinc battery market size is expected to see rapid growth in the next few years. It will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to market expansion and investment, increased energy demand from urban areas, electrification of transportation, growth in renewable energy installations, and rising awareness about environmental impact. Major trends in the forecast period include advancements in zinc-air batteries, miniaturization, and integration, innovations in safety technologies, development of zinc-ion batteries, and integration of zinc batteries with renewable energy sources.
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Segmentation & Regional Insights
The zinc battery market covered in this report is segmented –
1) By Type: Zinc-Air Battery, Nickel-Zinc Battery, Zinc-Silver Battery, Carbon-Zinc Battery, Zinc-Manganese Battery, Other Types
2) By Rechargeability: Primary, Secondary
3) By Application: Electric Vehicle, Consumer Electronics, Power Tools, Other Applications
Asia-Pacific was the largest region in the zinc battery market in 2023. The regions covered in the zinc battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for consumer electronics is expected to propel the growth of the zinc battery market going forward. Consumer electronics refer to electronic devices designed for everyday use by individuals, typically for entertainment, communications, and productivity purposes. The rising demand for consumer electronics is due to continuous technological improvements, the proliferation of the internet and the expansion of high-speed networks, the widespread adoption of smartphones and tablets, and the growth of smart home technology. Zinc batteries are utilized in consumer electronics such as remote controls and toys due to their cost-effectiveness and reliable performance for low-power applications. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total consumer electronics production reached $291.81 million (¥32,099 million) in May 2023, compared to $229.768 million (¥25,268 million) in May 2022. Therefore, the increasing demand for consumer electronics is driving the growth of the zinc battery market.
Key Industry Players
Major companies operating in the zinc battery market are Toshiba Corporation, Energizer Holdings Inc., Duracell Inc., Eastman Kodak Company, GP Industries Limited, FDK Corporation, Nippo Ltd, ZincFive Inc., Primus Power Corp., Zpower LLC, ZAF Energy Systems Inc., Salient Energy Inc., Imprint Energy Inc., Panasonic Energy Co. Ltd., Renata SA, ZeniPower (Zhuhai Zhi Li) Battery Co. Ltd., Zhejiang Mustang Battery Co. Ltd., Multicell International Ltd., ABOUND Ltd, Enerpoly AB, Advanced Battery Concepts LLC, Linyi Huatai Battery Co. Ltd., Shenzhen Tcbest Battery Industry Co. Ltd.
The zinc battery market report table of contents includes:
1. Executive Summary
- Zinc Battery Market Characteristics
- Zinc Battery Market Trends And Strategies
- Zinc Battery Market – Macro Economic Scenario
- Global Zinc Battery Market Size and Growth
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32. Global Zinc Battery Market Competitive Benchmarking - Global Zinc Battery Market Competitive Dashboard
- Key Mergers And Acquisitions In The Zinc Battery Market
- Zinc Battery Market Future Outlook and Potential Analysis
- Appendix
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