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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.
Market Overview: Breathing batteries utilize zinc electrodes and potassium hydroxide electrolyte solution to produce electricity through an oxidation-reduction reaction. They are gaining popularity due to their long shelf life of 10-15 years and high energy density. Key applications of breathing batteries include energy storage, backup power supplies, and powering sensors in IoT devices. Market Dynamics: The increasing investments by governments as well as private players in research and development of advanced battery technologies is a key driver for the breathing battery market. For instance, the US government announced a funding of over $3 billion through initiatives like Advanced Research Projects Agency-Energy (ARPA-E) to develop next-generation batteries with high energy density. Additionally, the growing demand for off-grid and backup power solutions especially in developing regions is supplementing the market growth. Remote communities in Africa and Asia are increasingly adopting solar+storage systems powered by breathing batteries due to their maintenance-free operations and long lifespan. However, high manufacturing costs and availability of substitute technologies can restrain the market during the forecast period. Segment Analysis The breathing battery market can be segmented into zinc-air batteries and lithium-air batteries. Zinc-air batteries dominate the market as they require lower energy densities and can provide longer operation times than lithium-air batteries. They have a higher energy density than alkaline or lead-acid batteries and are cheaper than lithium-ion batteries. PEST Analysis Political: The government policies supporting the adoption of renewable energy sources and electric vehicles are driving the breathing battery market. Economic: The lower cost of zinc-air batteries compared to lithium-ion batteries and their long operation times are fueling their adoption. Social: Rising environmental awareness is increasing the adoption of sustainable and clean energy technologies like breathing batteries. Technological: Advancements in battery electrode fabrication techniques and electrolyte material science are improving the energy densities of breathing batteries. Key Takeaways The Global Breathing Battery Market Size is expected to witness high growth, exhibiting a CAGR of 8.4% over the forecast period, due to increasing demand for electric vehicles. The Asia Pacific region dominates the market owing to widespread industrialization and government initiatives promoting clean energy adoption in countries like China and India. Regional analysis indicates Asia Pacific as the fastest growing region in the breathing battery market due to increasing automotive production and government initiatives promoting clean energy usage. China especially is focusing on developing rechargeable zinc-air battery technologies for use in EVs and stationary energy storage applications. Key players operating in the breathing battery market include IBM Corporation, Zinc8 Energy Solutions Inc., PolyPlus Battery Company, Panasonic, Tesla, Fuji Pigment, and Breathe Battery Technologies Limited. IBM and Zinc8 Energy Solutions are focusing on developing advanced zinc-air battery designs through nanomaterial and electrolyte research. Panasonic and Tesla provide lithium-ion batteries for EVs but are exploring lithium-air battery technologies. Read More: https://www.newsanalyticspro.com/breathing-battery-market-forecast-size-and-market-share/
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