Anticipated Surge in Breathing Battery Market to $46.6 Million by 2032, According to Allied Market Research

PORTLAND, Ore., July 24, 2023 (VSNewsNetwork.com) - A recent report by Allied Market Research indicates an expected growth in the global breathing battery market. The market, valued at $17.1 million in 2022, is projected to reach $46.6 million by 2032, registering a compound annual growth rate (CAGR) of 10.7% from 2023 to 2032. Breathing batteries, recognized for their lightweight and compact design due to high energy density, are increasingly becoming a preferred choice for electric vehicles, portable electronics, and aerospace applications.

The report details that the lithium air battery segment held the largest market share in 2022, contributing to nearly half of the global breathing battery market revenue. The same segment is expected to continue its lead throughout the forecast period, with an estimated CAGR of 10.9%. In addition, the automotive sector emerged as the leading end-use industry in 2022, accounting for more than a third of the global breathing battery market revenue.

The Asia-Pacific region, especially China, dominated the global breathing battery market in 2022, holding over half of the total market revenue. It is predicted to retain this dominance until 2032, registering a CAGR of 10.9%. The growth in this region is largely attributed to the significant presence of electric vehicles and the potential of metal-air batteries to provide longer driving ranges.

Prominent players in the global breathing battery market, such as Energizer, GP Industrial, Zinc8 Energy Solutions Inc, and Duracell, are employing various strategies, including new product launches and collaborations, to expand their market footprint.

For comprehensive insights into the report, visit Allied Market Research's website.

Source: Allied Market Research via PR Newswire