The aluminum air battery market have impacted adversely due to the pandemic. The cost involved while manufacturing of the aluminum air battery is very high which is predicted to hamper the market growth in the forecast period. Increasing demand of the electric vehicles across the globe is predicted to be the major driving for the overall market in the forecast period. In addition, rise in the price of the fossil fuels makes the consumer shift towards the electric vehicles which is predicted to boost the market in the forecast period. For instance, in March 2020, Indian oil collaborated with Israel based battery manufacturer Phinergy for setting up a factory for manufacturing aluminum air battery for electric vehicles in India and facilitates the development of ecosystem for aluminum air technology based battery. Moreover, the price of an aluminum air battery is very cheap as compared to other battery which is predicted to drive the market. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global aluminum air battery market. Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
The global market is classified on the basis of type. The report offers the complete information about drivers, opportunities, restraints, segmental analysis and major players of the global market.
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Factors Affecting the Market Growth
As per our analyst, increasing demand of electric vehicle is predicted to be the biggest driving factor for the market in the forecast period. Moreover, the price of aluminum air battery is very high which is predicted to hamper the market growth in the forecast period.
Two-Wheeler Segment is Predicted to Grow Enormously
Depending on the vehicle type, the market is bifurcated into passenger cars, light commercial vehicles, two-wheeler, and others. Rise in the demand for the two wheeler among the population is predicted to drive the segment in the forecast period. Aluminum batteries in two wheeler have the capability for the long run as compared to the gasoline powered vehicles which is predicted to give boost to the segment in the forecast period.
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Regional Breakdown of the Market
Depending on the region, the market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region market is predicted to grow enormously in the forecast period. With the increase in the demand of electric vehicles is predicted to drive the market. Moreover, existence of skilled workers, low production and installation costs is predicted to boost the region market in the forecast period. North America region market is predicted to have the maximum share in the forecast period. Existence of large number of manufacturing company of automobile industry is predicted to drive the market in the forecast period. Government initiative for the ecofriendly product in the region is predicted to boost the segment in the forecast period.
Top Companies Leading the Market
The major key players in aluminum air battery are Mingtai Al, Xinjiang Join World Co. Ltd., China Dynamics, Renault-Nissan, Nantong Zhongke metal products Co., Ltd., Fuji-pigment, Alcoa, and Phinergy Alcoa.
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