Breathing Battery Market Is Estimated To Witness High Growth
Breathing batteries, also known as air batteries or hybrid fuel cell batteries, are primary batteries that produce electricity from the oxidation of oxygen in ambient air. They operate without regeneration and are continuously depleted as they deliver electric current. Breathing batteries provide advantages such as a high energy density, low cost, and long shelf life as compared to traditional battery technologies. They find widespread applications in wearable medical devices, military equipment, consumer electronics, and sensor nodes of Internet of Things (IoT) devices. The growing demand for portable medical devices and increased focus on remote patient monitoring is encouraging the use of lightweight and durable breathing batteries.
The global Breathing Battery Market is estimated to be valued at US$ 19.39 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing adoption of wearable medical devices offers significant growth opportunities for the breathing battery market. Wearable devices have gained popularity for real-time health monitoring and assisting patients in remote areas. Breathing batteries are highly suitable for powering wearable devices due to their small form factor, long lifespan, and ability to draw power from ambient air. They eliminate the need for frequent recharging and replacing of conventional batteries. This provides continuous power required by wearables to monitor health vitals, transmit data to physicians, and assist patients. The growing demand for lightweight, long-lasting power sources among wearable medical device manufacturers is propelling the demand for breathing batteries. Their adoption in wearable applications is projected to increase substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and lack of any proprietary technology poses a threat of new entrants in the breathing battery market.
Bargaining power of buyers: Buyers have significant bargaining power as breathing batteries are more of necessity item and there is availability of substitutes in the market.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials for breathing batteries are easily available.
Threat of new substitutes: Threat of substitutes like personal protective equipment is high as they provide similar function.
Competitive rivalry: High as the market is fragmented with presence of various global and regional players.
SWOT Analysis
Strength: Breathing batteries offers comfort and safety from airborne infections. Innovation in material and technologies by key players.
Weakness: High cost of production and lack of standardization. Design issues may compromise protection.
Opportunity: Growing awareness about workplace safety post pandemic. Increasing applicability in healthcare and industrial sectors.
Threats: Competition from substitutes like masks and respirators. Fluctuations in raw material prices.
Key Takeaways
The global Breathing Battery Market Demand is expected to witness high over the forecast period backed by increasing awareness about respiratory safety. The global Breathing Battery Market is estimated to be valued at US$ 19.39 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the breathing battery market currently owing to stringent workplace safety regulations and presence of key market players. Asia Pacific is expected to grow at the fastest pace during the forecast period with countries like China and India emerging as high potential markets.
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