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 are rechargeable batteries that do not need charging through an external source. They instead use an air-breathing technique that involves oxidizing zinc to recharge. This provides more versatile and renewable energy storage, making them environment friendly. Breathing batteries have applications in electronic devices, military equipment, remote sensors and emergency power backups due to their ability to operate autonomously without charging. Market key trends: The rising demand for portable and wireless electronic gadgets is driving the demand for lightweight, compact and highly efficient power sources like breathing batteries. Breathing batteries serve as a viable solution due to their ability to extract power from ambient air and recharge without plugging into a power outlet. Additionally, growing focus on sustainable energy is augmenting the need for green energy storage technologies like breathing batteries that are self-sustaining and cause low environmental footprint. Porter’s Analysis Threat of new entrants: New entrants face high production and R&D costs to develop next-generation breathing batteries. The established players also have economies of scale and brand recognition which deter new firms. Bargaining power of buyers: Buyers have moderate bargaining power as breathing batteries are differentiated products with applications in grid energy storage and portable devices. Buyers can choose from various suppliers. Bargaining power of suppliers: Suppliers of raw materials like zinc, manganese oxide, and potassium hydroxide have less bargaining power due to availability of substitute materials. Established players develop in-house manufacturing to reduce dependency. Threat of new substitutes: Potential substitutes include lithium-ion and lead-acid batteries. However, breathing batteries provide longer lifespan and safer alternative reducing this threat. Competitive rivalry: Intense competition exists among leading brands to gain market share through new technology, capacity expansion, and strategic partnerships. SWOT Analysis Strengths: Long shelf-life, safer than conventional batteries, recharge in air. Weaknesses: High manufacturing costs, limited charging infrastructure. Opportunities: Growing demand for renewable energy storage solutions, portable devices market. Threats: Dependency on raw material prices, technology changes in battery industry. 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 cost-effective and sustainable energy storage solutions. The market size is projected to reach US$ 34.16 Mn by 2030 from US$ 19.39 Mn in 2023. Regional analysis: Asia Pacific dominates the global market and is estimated to maintain its lead over 2023-2030. Rapid industrialization and strong government support for renewable energy adoption in China, India, and other developing nations will drive the regional market. North America is anticipated to exhibit significant growth with US and Canada investing heavily in new energy projects incorporating breathing battery technology. 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. Key players focus on establishing strategic partnerships and expanding manufacturing capacity to cater to growing demand globally. Explore More Information On This Topic @ https://www.ukwebwire.com/global-breathing-battery-market-analysis/
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
December 2023
Categories |