The benefit of a breathing battery is that the oxygen does not need to be held inside the battery such as alkaline or Li-ion batteries. The positive electrode used in breathing batteries is carbon-based and covered in some precious metals to react with oxygen. The electrode used is made up of metals such as lithium, zinc, magnesium, and aluminum. These batteries are sometimes referred to as fuel cells as the air flows through the cells present in the batteries. The breathing battery market size was valued at $17.1 million in 2022 and is estimated to reach $46.6 million by 2032, growing at a CAGR of 10.7% from 2023 to 2032.
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The demand for energy has greatly increased owing to the ongoing expansion of the global economy. Conventional non-renewable energy sources on earth are scarce. Consequently, the creation of new energy technologies is crucial for a sustainable future. The ideal alternative to satisfy the requirement for energy storage is breathing battery technology. The breathing battery market has grown due to the rise in demand for storage batteries with high energy densities. Breathing batteries can perform better than Lithium-Ion batteries as they can store more energy density.
The breathing batteries are appealing not just as portable power sources for electronics and electric cars, however, also as convincing energy storage systems to control the flow of energy in renewable energy generators, such as wind turbines, solar panels, and electric grids. However, large investment in the research and development of breathing batteries is anticipated to hamper the global breathing battery market growth during the forecast period.
The breathing battery market expansion is anticipated to be fueled by technological advancements such as 3D printing technology and laser processing for the manufacturing of breathing batteries. Manufacturers concentrate on developing small, powerful batteries which are expected to expand the market and drive the breathing battery market growth. Breathing batteries in the automobile industry have emerged widely as an alternative to Li-ion batteries.
Owing to their greater energy capacity, cost-effectiveness, and environmental friendliness, the young generation is motivated enough to use breathing batteries in their electric vehicles. In June 2021, the International Advanced Research Centre for Powder Metallurgy and New Materials located in India, an independent research and development facility of the Department of Science and Technology developed a profitable electrocatalyst that can improve the performance of breathing batteries while also being more affordable.
On the other hand, breathing batteries offer several advantages, however, there are still challenges to overcome, such as a limited life cycle and the need for improved oxygen supply systems. However, the combination of technological advancements, environmental concerns, and the increase in demand for energy storage solutions fuel the growth of the breathing battery industry.
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Increase in Demand and Huge Potential for Breathing Battery in Electric Vehicles
Growing interest and potential for the use of breathing batteries, specifically flow batteries, in electric vehicles (EVs) are expected to drive the growth of the breathing battery market forecast period. Flow batteries offer several advantages that make them appealing for electric vehicle applications. Breathing batteries are inherently scalable, allowing easy adjustment of the battery’s size and capacity. This scalability makes them suitable for EV applications, where different vehicle sizes and energy requirements exist.
Furthermore, breathing batteries have the advantage of quick recharging. Instead of waiting for the battery to charge, EVs using flow batteries can simply replace or recharge the liquid electrolytes, similar to refueling a conventional vehicle. This can significantly reduce charging times, making EVs more convenient and practical for everyday use.
In addition, breathing batteries typically exhibit long cycle lives, meaning they can endure a large number of charge-discharge cycles without significant degradation. Moreover, breathing batteries use non-flammable electrolytes, enhancing their safety compared to some other battery chemistries. In addition, certain flow battery chemistries, such as vanadium redox flow batteries, are more environmentally friendly and can be easily recycled, aligning with the sustainability goals of the EV industry.
The breathing battery market is segmented on the basis of battery type, end-use industry, and region. By battery type, the market is classified into lithium-air batteries, aluminum-air batteries, zinc-air batteries, calcium-air batteries, and others. By end-use industry, the market is categorized into automotive, manufacturing, defense, utility energy storage, consumer electronics, and others. By region, the breathing battery market analysis has been done across North America, Europe, Asia-Pacific, and LAMEA.
By battery type, the lithium-air battery segment dominated the largest market share in 2022 due to lithium-air batteries having the potential to offer significantly higher energy density compared to conventional lithium-ion batteries. This means they can store more energy per unit weight or volume, which is highly desirable for applications that require long-lasting power or need to reduce the weight of the energy storage system.
By end-use industry, the automotive segment dominated the largest market share in 2022 due to breathing batteries are often considered more environmentally friendly compared to traditional internal combustion engines. They produce zero direct emissions during operation and have the potential for improved sustainability if the metal can be recycled efficiently.
On the basis of region, the breathing battery market analysis has been done across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific had the highest breathing battery market share in 2022 due to the Asia-Pacific region, particularly China, being a significant market for electric vehicles. Metal-air batteries, with their high energy density and potential for longer driving ranges, are being explored as a promising alternative to traditional lithium-ion batteries. The demand for EVs in the region will open breathing battery market opportunities in metal-air battery development and adoption.
The major players operating in the industry include Energizer, GP Industrial, Zinc8 Energy Solutions Inc, POLY PLUS, Duracell, Phinergy, Lithium Air Industries, IBM, Ev Dynamics (Holdings) Limited, and Renata SA. These players have adopted product launches as their key strategy to increase their market shares.
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Key findings of the study
- Based on battery type, the lithium-air battery segment has a dominant market share in the global breathing battery market in terms of revenue and it is anticipated to grow at the highest CAGR of 10.9% during the forecast period.
- On the basis of the end-use industry, the automotive segment has a dominant market share in the global breathing battery market in terms of revenue and it is anticipated to grow at the highest CAGR of 11.1% during the forecast period.
- Based on region, Asia-Pacific region has a dominant market share in the global breathing battery market in terms of revenue and it is anticipated to grow at the highest CAGR of 10.9% during the forecast period.
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