Lithium-air batteries are new generation light-weight batteries. They are metal-air batteries which form an electrochemical cell and work on redox reaction; oxidation of the lithium metal followed by reduction of oxygen produces the current flow. Usage of lithium-air batteries in the automotive, medical, defense and military, electronics, and marine industries and in power backup systems is propelling the growth of the market. Different batteries are used as per their application requirements. Manufacturers are conducting extensive research in order to develop batteries that have low weight, longevity, high-power density, and low cost of production, without compromising on the performance of the end product. Developing eco-friendly products is the trend of the day and is driving the global batteries market to a new height. Batteries are essential equipment in households as well as in industries; thus, the demand for batteries is perpetual. Technological advancements ensure the continuous development of new equipment and gadgets that require batteries; this is expected to create high demand for battery materials in the near future.
Lithium-air batteries are amongst the lightest batteries available as lithium is the lightest metal and air is also of ultra-light-weight. Therefore, the major application of these batteries is expected to be in the automotive industry, especially in the hybrid and electric vehicles. These batteries, due to their low weight and compact size, are projected to become an integral part of electric vehicles. Rise in demand for electric vehicles and improvement in manufacturing processes are the key drivers of the global lithium-air batteries market. Furthermore, these batteries can be employed in other appliances such as electronic, electrical, industrial equipment, etc. owing to their light weight.
Based on the type of lithium-air battery, the global market can be segregated into aprotic Li-air batteries, aqueous Li-air batteries, mixed aqueous/aprotic, and solid state Li-air batteries. Solid state Li-air batteries are not flammable and thus eliminate the chance of explosion. Lithium-air batteries are in the development phase, thus their overall efficiency, limitations, and cost are anticipated to improve in the future with the advancement in technology. In terms of application, the global Li-air batteries market can be classified into automotive, consumer goods & electronics, industrial, and others. Presently, automotive is the promising application segment of the lithium-air batteries market.
Based on geography, the global lithium-air batteries market can be divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are anticipated to be the largest markets for lithium-air batteries due to the developing automotive industry in the regions wherein lithium-air batteries are predominantly used in electric and hybrid cars. Adoption of electric vehicles in countries such as the U.S., Germany, Denmark, the Netherlands, France, and Finland is projected to create high demand for lithium-air batteries. Furthermore, Asia Pacific is a developing market for lithium-air batteries due to the well-established manufacturing and automotive industries in the countries such as China, India, and the ASEAN countries in the region. China and India have prominent automotive manufacturing facilities; and therefore, are expected to witness a considerable demand for lithium-air batteries in the near future.
Key players operating in the global lithium-air batteries market include PolyPlus, Lithium Air Industries, Inc., and Mullen Technologies Inc. The market for lithium-air batteries is still in its nascent stage; thus, the competition is comparatively low. However, the competition is expected to intensify as new manufacturers are anticipated to enter the market in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.