by The Breathing Battery Market is estimated to be valued at US$ 19.39 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Breathing batteries, also known as zinc-air fuel cells, are environment-friendly batteries that use oxygen from the air as the cathode reactant instead of heavy metals or liquid electrolytes. They use zinc as an anode and breathe in oxygen from the air. These batteries have a high energy density and can operate at room temperature. They play an important role in energy storage from renewable sources like solar or wind energy. Their applications include powering vehicles, sensors, medical devices and mobile phones.
Market Dynamics:
The growing demand for renewable energy sources is a key driver for the breathing battery market. Governments across the world are taking initiatives to shift from fossil fuels to cleaner sources like solar and wind energy which have intermittent power output. Energy storage solutions like breathing batteries help store the renewable energy and discharge it as per requirements.
Another key driver is the increasing need for lightweight and high power batteries especially for electric vehicles. Breathing batteries offer up to 10 times higher energy density compared to lithium-ion batteries of similar size and weight. They can power electric vehicles over long-distances on a single charge. This makes them an attractive substitute for conventional batteries used in EVs.
Segment Analysis
The global breathing battery market is dominated by the zinc-air battery segment. Zinc-air batteries have higher energy density compared to other battery technologies such as lithium-ion batteries. Zinc-air batteries use the electrochemical reaction between zinc and oxygen from air in its operation. The reaction produces electricity without undergoing decomposition and recharges automatically when the zinc is replaced. Zinc-air batteries are economical owing to their low material cost and provide high power and energy density.
PEST Analysis
Political: Governments globally are supporting R&D in sustainable and clean energy technologies through funding. Adoption of electric vehicles and renewable energy technologies is being promoted through subsidies and tax incentives.
Economic: Cost of zinc-air battery technologies is declining significantly. Total cost of ownership of zinc-air batteries is lower compared to conventional battery technologies. Growth in end-use industries such as transportation and backup power are driving investments in advanced battery technologies.
Social: Rising awareness about environmental degradation due to conventional energy sources and increasing need for sustainability is positively impacting the adoption of clean energy solutions such as breathing batteries.
Technological: Development of cost-effective catalysts to improve battery lifespan and efficiency. Advancements in manufacturing processes are enabling mass production of zinc-air batteries. Research on miniaturization and integration of electronics is supporting new product development.
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 long-lasting and sustainable energy storage solutions across various end-use industries. The market size for 2023 is estimated to be US$ 19.39 Mn.
Regional analysis
North America is expected to dominate the global breathing battery market during the forecast period. This is attributed to large presence of key players such as IBM Corporation, Zinc8 Energy Solutions Inc. and PolyPlus Battery Company in the region. Additionally, government support through initiatives such as Investing in Canadian Infrastructure Program is boosting electricity infrastructure development and promoting renewable energy technologies including breathing batteries.
Key players
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. IBM Corporation offers zinc-air battery technologies suitable for data center backup applications. Zinc8 Energy Solutions Inc. provides renewable energy storage solutions using zinc-air batteries for industrial and grid-scale applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
