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Nickel Metal Hydride Market 2024-2033: Production Analysis, Growth Strategy, Industry Insights And Major Players | Duracell, Energizer Holdings Inc., Panasonic Corporation, Primearth EV Energy Co. Ltd., Spectrum Brands Holdings Inc
Nickel Metal Hydride Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the nickel metal hydride industry. This report on nickel metal hydride market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The nickel metal hydride market size has grown rapidly in recent years. It will grow from $3.54 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to consumer electronics, hybrid electric vehicles (hevs), rechargeable battery market, low cost and wide availability, environmental concerns.
The nickel metal hydride market size is expected to see rapid growth in the next few years. It will grow to $5.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to electric bicycles (e-bikes), emerging markets, grid energy storage, portable power tools, transition period. Major trends in the forecast period include improvements in energy density, recycling and sustainability, advanced battery management, specialized applications, hydrogen storage.
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Key Market Players:
uracell, Energizer Holdings Inc., Panasonic Corporation, Primearth EV Energy Co. Ltd., Spectrum Brands Holdings Inc., GP Batteries International Limited, Aeg Powertools, Cell-Con, Harding Energy Inc
Market Drivers:
According to the Nickel Metal Hydride Market Report 2024 by The Business Research Company, the increasing demand for energy sector is expected to propel the growth of the nickel metal hydride market going forward. The energy sector, also known as the energy industry, encompasses all industries and activities related to the production, distribution, and consumption of energy. The energy sector, particularly the shift toward cleaner and more sustainable energy sources, is driving the demand for electric vehicles (EVs). NiMH batteries are commonly used in hybrid electric vehicles (HEVs) and some plug-in hybrid electric vehicles (PHEVs). For instance, in August 2022, according to the Government Digital Service, a UK-based government body, from 2020 to 2021, total energy usage grew by 4.6%. Therefore, the increasing demand for energy sector is driving the growth of the nickel metal hydride market.
More information about the Global Nickel Metal Hydride Market Report -
https://www.thebusinessresearchcompany.com/report/nickel-metal-hydride-global-market-report
Market segments for template include:
1) By Type: Small-Sized Ni-MH Battery for Consumer Electronics, Large-Sized Ni-MH Battery for HEV
2) By Application: Automotive, Cordless Phone, Dust Collector, Personal Care, Lighting Tools, Electric Tool
3) By Sales Channel: OEM, Aftermarket
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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