Aluminium-ion Battery Market size was over USD 6.85 billion in 2024 and is poised to exceed USD 16.31 billion by 2037, witnessing over 6.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of aluminium-ion battery is evaluated at USD 7.63 billion.
The growth of the sector is set to be dominated by the growing demand for renewable energy. For instance, over the years 2023 to 2025, worldwide demand for electricity is anticipated to expand by about 4% annually, outpacing the rate of 2022 growth. Hence, the demand for aluminium-ion battery is growing since it is used in storing energy. Aluminium-ion battery has the capacity of storing large amount of energy as compared to any other batteries.
Moreover, aluminium-ion batteries have an extended lifespan in terms of comes to holding energy. After 500–1000 charging and discharging cycles, lithium-ion batteries generally lose about 79% of their capacity. A prototype aluminium-ion battery from Stanford University withstood a total of approximately 7,499 cycles without losing any capacity.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 6.85 billion |
|
Forecast Year Market Size (2037) |
USD 16.31 billion |
|
Regional Scope |
|
Application (Telecom Towers, Hospitals, Automotive, Consumer Electronics, Aerospace & Defense)
The aerospace & defense segment is poised to hold 40% share of the global aluminium-ion battery market during the projected period. These batteries could be employed by the military to power machinery, lowering battery weight and boosting energy density, enabling longer missions between battery replacements. Additionally, aluminium-ion batteries could power spacecraft and satellites in the aerospace sector, where weight is a key factor.
End-User (Residential, Industrial, Commercial)
The industrial segment in the aluminium-ion battery market is projected to garner the highest share of approximately 70% by the end of 2037. This is owing to the growing demand for portable electronics in the automotive and defense sectors. Therefore, even manufacturers of aluminium-ion batteries are focusing more on these sectors to supply this battery. Hence, this factor is expected to dominate the market growth.
Our in-depth analysis of the global aluminium-ion battery market includes the following segments:
|
Application |
|
|
End-User |
|
APAC Market Forecast
Asia Pacific industry is predicted to dominate majority revenue share of 45% by 2037. This growth in the market in this region could be owing to rising grid projects in this region. The board of the Power Grid Corporation authorized an investment worth more than USD 8 billion for a number of energy transmission projects across India this year. Additionally, there has been a growing extraction of aluminium in this region which is also a major factor for the growth in market share.
North American Market Analysis
The aluminium-ion battery market in North America is expected to also have significant growth over the coming years. The major for this growth in this region is backed by the growing manufacturing of aircraft. There has been growing research on the utilization of these batteries in aircraft owing to their lightweight nature. Also, it ensures the safety of aircraft and limits the prevalence of thermal runways and fires.
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?