Zinc-air Battery Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is set to account for largest revenue share of 50.1% by 2035. Due to the growing demand for EVs, energy-efficient systems, and electronic components, this region will likely give rise to growth opportunities. The adoption of zinc-air batteries in electric vehicles, in particular in electric cars, is a step in the right direction. The use of zinc-air batteries is also endorsed by promising opportunities and the growing demand for energy storage devices, as they are characterized by a higher energy density. In 2023, China sold more than 8 million electric cars in the Asia Pacific region alone.
Moreover, due to the expected increase in electric vehicle demand in China over the forecast period, zinc-air batteries offer an efficient energy storage system.
India's government spending on zinc-air batteries has created new prospects for the worldwide zinc-air battery market. In March 2021, for example, researchers at IIT Madras in India created mechanically rechargeable zinc-air batteries as a substitute for lithium-ion batteries, which are utilized in electric cars. In the next years, this aspect is probably going to be the market driver.
The Japanese market for electric vehicles is very important. Given their strong energy density and low hazards compared to traditional batteries, the adoption of these batteries in electric vehicles has exciting potential.
North American Market Insights
Zinc-air battery market size for North America region is projected to cross 25% by 2035. The market for zinc-air batteries in North America is expanding as a result of stricter laws governing carbon dioxide emissions and an emphasis on using lightweight, more fuel-efficient automobiles.
This has increased the need for zinc-air batteries in North America, especially for communications and medical devices like hearing aids. On March 20, 2024, the US Environmental Protection Agency (EPA) released the final version of the new motor vehicle emissions regulations. The requirements, which extend the EPA's 2021 regulation that set emissions criteria for model years 2023 through 2026, mandate that automakers achieve gradually lower emissions for new cars in model years 2027 through 2032.
North America's market is predicted to increase steadily, with the United States leading the regional market. The regional market is anticipated to be driven by government organizations' increasing attention to greenhouse gas emissions.
Innovation and the commercialization of zinc-air batteries are stimulated by Canada’s extensive industry infrastructure, as well as its highly developed research and development capabilities.
