Market Size of Lithium-Air Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lithium-Air Battery Market Analysis
The lithium-air battery market is projected to record a CAGR of more than 5.5% during the forecast period. The COVID-19 outbreak in Q1 2020 had not registered any major impact. Factors such as growth in renewable energy sources and increased demand for devices for energy storage are expected to drive the growth of the lithium-air battery market. Lithium-air batteries have great potential for use in transportation, in light and heavy vehicles. It can also work in the power distribution network, likely driving the lithium-air battery market. However, the lithium-air battery is less stable, possesses low energy efficiency, and has shorter cycle life, which is expected to restrain the market's growth.
- The automotive sub-segment is expected to dominate the market during the forecast period due to the increasing number of electric vehicles worldwide.
- The increasing penetration of advanced industrial applications such as drones and robotics creates massive opportunities for market players. New batteries such as lithium-air batteries could better power aerial drones, underwater robots, drones, and mobile robots. These batteries can also be deployed to sense and manipulate data in remote areas hard for humans to reach.
- North America is expected to be the largest market for lithium-air batteries due to increasing consumer goods and electronic appliances, mainly driven by the United States.
