Zinc-Air Batteries Market to Reach US$ 2,848.90 Mn by 2026
The
global zinc–air batteries market was valued at US$ 1,414.45 Mn in
2017 and is anticipated to expand at a CAGR of 8.2% from 2018 to
2026, according to a new report titled ‘Zinc–Air Batteries
Market: Global Industry Analysis, Size, Share, Growth Trends, and
Forecast, 2018–2026,’ published by Transparency Market Research
(TMR). The global zinc–air batteries market is driven by rise in
the demand for use of these batteries in hearing aids in the medical
industry. Europe accounts for a major share of the global zinc–air
batteries market.
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Rise
in demand for hearing aids among geriatric population to drive the
global zinc–air batteries market
Increase
in the rate of incidence of hearing disorders among geriatric
population, typically in the U.S. and Europe, has boosted sales of
hearing devices. Rise in the rate of incidence of hearing
disabilities among newborns is a major concern in the global health
care sector. The need for improved hearing aids is gaining momentum,
which is driving the demand for zinc–air batteries. Ability of
zinc–air batteries of providing a steady supply of power, by
ensuring proper functioning of hearing aids, is likely to augment the
demand for zinc–air batteries for use in hearing aids in the next
few years. Hearing aids with zinc–air batteries can function under
various temperature conditions. All these factors along with cost
effectiveness are likely to propel the demand for zinc–air
batteries for use in hearing aids in the near future.
Growing
number of applications of zinc–air batteries such as traffic
signaling and communication to augment the market
Demand
for battery systems for use in traffic signaling systems has
increased exponentially in the last few years. Zinc–air batteries
are used in LED traffic lights, traffic signs, temporary traffic
signs, and various warning signals. Features of zinc–air batteries
such as quick startup, stable voltage, light weight, and low
self-discharge are anticipated to offer lucrative growth
opportunities to the global zinc–air batteries market during the
forecast period. Demand for zinc–air batteries is high in the
railways industry, owing to extreme resistance to vibrations that
these batteries provide. Improper functioning of traffic signals led
by reduced shelf life of battery backup can lead to accidents.
Zinc–air batteries can function well in such conditions owing to
their long shelf life. Zinc–air batteries are safe to handle,
without any risk of leakage on fixed or moving installations.
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Surge
in demand for rechargeable zinc–air batteries to act as a growth
opportunity for the market
Rechargeable
zinc–air batteries are anticipated to be significantly applied in
consumer devices, automobile starters, light vehicles (motorized
wheel chairs, electric forklifts, electric vehicles, etc.), portable
consumer devices, tools, and uninterruptible power supplies.
Rechargeable batteries offer a more reliable, ecological, and
sustainable replacement for non-rechargeable batteries. Increase in
the demand for consumer devices, portable devices (such as music
players, digital cameras, camera phones, and portable computing
devices), automobiles, and bio-based vehicles is likely to drive the
zinc–air batteries market from 2018 to 2026.
Presence
of traces of mercury and unstable redox reactions to hinder the
zinc–air batteries market
Presence
of traces of mercury in zinc–air batteries can cause health
hazards. Mercury can leak as the zinc–air battery casing
disintegrates. A large number of countries have mandated that
zinc–air batteries be mercury-free. This is attributable to risk of
mercury poisoning from accidentally ingested batteries.
High-performance electrodes are necessary to catalyze the
oxygen-reducing reaction during discharge and oxygen production
during recharge. In zinc–air batteries, these two reactions are
sluggish. However, performance of the anode can be enhanced by using
zinc nanoparticles.
Small
devices segment dominates the global zinc–air batteries market
Among
applications, the small devices segment (including watches, hearing
aids, pagers, etc.) dominates the global zinc–air batteries market.
Light weight is a major factor that drives the demand for zinc–air
batteries in the small devices sector. Other advantages offered by
zinc–air batteries used in small devices include high energy
density, cost-effectiveness, constant voltage rate over a relatively
long time, and proven technology.
Europe
leads the global zinc–air batteries market
Among
regions, Europe accounted for a major share of the global zinc–air
batteries market in 2017. According to a report by the European
Association of Hearing Aid Professionals, more than 80 million adults
in Europe were suffering from hearing impairment in 2015. Growth of
elderly population and introduction of appealing technologies in
Europe are boosting the demand for zinc–air batteries in the
region. Government initiatives to replace the existing railway
signaling systems, typically in Denmark and Switzerland, are boosting
the market in Europe.
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High
degree of competition among established players
Key
players profiled in the report include Berkshire Hathaway Inc.,
Spectrum Brands Holdings, Inc., Energizer Holdings, and Panasonic
Corporation. These players are forward integrated and they account
for a major share of the global zinc–air batteries market, in terms
of production capacity. Brand promotions and launch of new products
are likely to increase sales of zinc–air batteries in the near
future. Market leaders are striving to adopt measures such as
strategic pricing and product improvement to gain market share.
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