Press release
Global Nickel Metal Hydride Market Comprehensive Study: Forecasted Market Size And Growth Rate
Nickel Metal Hydride Market
The Business Research Company offers in-depth market insights through Nickel Metal Hydride Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of nickel metal hydride batteries are small-sized Ni-MH batteries for consumer electronics and large-sized Ni-MH batteries for HEV. Small-sized Ni-MH batteries are rechargeable batteries found in laptops, computers, cameras, and mobile phones. The nickel metal hydride batteries are used in automotive, cordless phones, dust collectors, personal care, lighting tools, and electric tool and are distributed through OEM and aftermarket sales channels.
Major Driver - Growth In Nimh Battery Usage Driven By Electric Vehicle Demand
Nickel metal hydride batteries are increasingly being used in hybrid vehicles. The wide temperature range between -30 °C to + 75 °C and rapid charging capacity made these batteries ideal for the automotive sector. NiMH batteries can handle the high-power levels which are essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world's passenger vehicles. The increasing demand for electric vehicles will positively impact the NiMH battery market.
Competitive Landscape:
Major companies operating in the nickel metal hydride market include Duracell, 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., Johnson Controls International plc, Badische Anilin und Soda Fabrik (BASF), Power-Sonic Corporation, Supreme Batteries Pvt. Ltd., Rayovac, Shenzhen Nova Technology Co. Ltd., Taurac, Uniross Batteries Corporation, Tianjin Peace Bay Company, The Shenyang Sanpu Company, VARTA AG, Fujitsu Component Limited, Build Your Dreams Company Limited, Saft Group SAS, NEXcell Battery Co Ltd, Dantona Industries Inc., Tenergy Corporation, EnerSys, Ultralife Corporation, EVE Energy Co. Ltd., Hunan Soundon New Energy Co. Ltd., Highpower International Inc., GS Yuasa Corporation, Toshiba Corporation, Hitachi Maxell Ltd., Sanyo Electric Co. Ltd., Mitsubishi Electric Corporation, Nippon Electric Co. Ltd., Samsung SDI Co. Ltd., Lucky Goldstar Chem Ltd., Beijing Easpring Material Technology Co. Ltd., Hunan Corun New Energy Co. Ltd.
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Top Trend - Innovations In Nimh Battery Manufacturing For Enhanced Lifespan
Recent developments in NiMH battery manufacturing have improved the lifespan of nickel-metal hydride batteries. The electro-positivity of the A-elements makes them easy to corrode in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve the reaction kinetics and corrosion stability of conventional NiMH batteries. For instance, Researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nickel Metal Hydride Market Characteristics
3. Nickel Metal Hydride Market Trends And Strategies
4. Nickel Metal Hydride Market - Macro Economic Scenario
5. Nickel Metal Hydride Market Size And Growth
…..
27. Nickel Metal Hydride Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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