Air Electrode Battery Market PESTEL Analysis, Key Opportunities and COVID-19 Impact Insights, 2027

Felton, Calif., USA, Jan 18, 2022 — /EPR Network/ —

The global air electrode battery market size is estimated to account for USD 2.02 billion by 2027, according to a new report by Million Insights. The market is predicted to register 9.0% CAGR over the forecast duration. Increasing use of air electrode battery in various end-use applications and rising expenditure on research and development are driving the product demand.

Air electrode batteries have multiple advantages such as increased storage capacity, higher electrochemical performance and environmental friendliness. These benefits have resulted in the high adoption of these batteries compared to ion batteries. In addition, the growing use of these batteries in electronic gadgets is likely to spur their demand.

Market Share Insights

Key market players are adopting various strategic initiatives such as partnerships, the introduction of new products, and merger & acquisition among others. These strategic initiatives help industry players to strengthen their position in the market and gain a competitive edge over others. Further, to improve the performance, durability and lower the cost, market players are investing a significant amount in research and development. Key market players include Volkswagen Ag, Mullen Technologies, Inc., BASF Global, LG Chem Ltd., Tesla Inc., and Panasonic Corporation among others.

Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/global-air-electrode-battery-market/request-sample

Regional Insights

The Asia Pacific accounted for over 31.0% share in the market and emerged as the leading shareholders in 2019. In addition, the region is projected to witness the highest growth over the forecast duration. Factors such as rapidly rising electronic manufacturing and a growing consumer base in countries such as India, China, and Japan are predicted to drive regional growth. 

China held the dominant share in the market due to the presence of leading manufacturers in the country and the high production volume. In addition, China is the one leading markets for electric vehicles, which, in turn, positively affect market growth. In addition, the government of China provides financial support to manufacturers to increase the adoption of air electrode batteries.

North America held a noticeable share in the market in 2019. The United States accounted for the major share in the regional market. The increasing adoption of electric vehicles in the United States is the main reason driving the North American market growth. Europe, on the other hand, is aggressively witnessing the adoption of electric vehicles owing to stringent norms regarding emission from internal combustion vehicles.

COVID-19 Impact Analysis

The outbreak of COVID-19 has negatively affected the air electrode battery market. The outbreak has led to the closure of manufacturing units, which adversely affected the production of these batteries. In addition, the pandemic has caused a shortage of raw materials and labor requirements, which delayed the ongoing production.

However, with the resumption of industrial operations, the demand is estimated to register considerable growth. In addition, government support in the development of electric and fuel cell vehicles is projected to be a major driving force for the market post-pandemic.  

Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/