Aluminum-air Battery Market: Overview
Aluminum-air battery generates electricity from the reaction of oxygen in the air with aluminum. It has one of the highest energy densities of all the batteries.
When used in an electric vehicle, aluminum-air battery has the potential of up to eight times the range of lithium-ion battery with significantly lower total weight
Aluminum-air battery does not use electricity to recharge. It is safe, has long life cycle and higher range, and is compact.
Aluminum-air battery can be mechanically recharged with new aluminum anodes made from recycling hydrated aluminum oxide. The aluminum is used as an anode, while the oxygen in the air is used as cathode.
Key Drivers of Global Aluminum-air Battery Market
The aluminum-air battery market has been expanding owing to the increase in demand for electrical vehicles across the globe in order to minimize the use of fossil fuels
Easy availability of raw material, i.e. aluminum, in large quantities in the production of aluminum-air batteries is anticipated to boost the global aluminum-air battery market
High cost of the anode and issues with corrosion of the aluminum anode due to carbon dioxide in air are estimated to hamper the global aluminum-air battery market
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Aluminum-air Battery Market: Key Development
On February 4, 2020, Indian Oil Corporation Ltd., the largest commercial oil company in India, announced that it had entered into a partnership with Phinergy, an energy start-up, to develop and produce innovative metal-air batteries, a feasible solution for long-distance electric-vehicle travel. Phinergy specializes in aluminum-air (Al-air) and zinc-air technologies. The collaboration includes research & development, customization, manufacturing, assembly, and sale of energy systems.
Europe to Hold Major Share of Global Aluminum-air Battery Market
Based on region, the global aluminum-air battery market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Europe dominated the global aluminum-air battery market in 2019, owing to the rise in demand for electrical vehicles in the region to reduce carbon emissions. The use of aluminum-air batteries in electric vehicles is likely to increase further in Europe, as these batteries are more efficient than lithium-ion batteries.
North America is anticipated to account for major share of the global aluminum-air battery market during the forecast period. The region is investing significantly in electric vehicle networks. Furthermore, the usage of aluminum-air battery would help increase the travelling range of vehicles.
The market in Asia Pacific is estimated to be highly attractive during the forecast period. The region has started investing in the electric vehicles in order to reduce the dependence on the depleting fossil fuels.
The market in Middle East & Africa and Latin America is likely to expand at a moderate pace during the forecast period
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