Press release
Nickel Metal Hydride Market Expansion Continues, with Forecast Valuation of $4.44 Billion by 2029
Nickel Metal Hydride
Nickel Metal Hydride Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of nickel metal hydride has shown robust growth in the past few years. There is an expected increment from $3.44 billion in 2024 to $3.63 billion in 2025, registering a 5.4% compound annual growth rate (CAGR). This considerable growth during the historic period is primarily due to consumer electronics, hybrid electric vehicles (hevs), rechargeable battery market, affordability, widespread accessibility, and environmental factors.
Nickel Metal Hydride Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size for nickel metal hydride is anticipated to experience significant expansion. It is projected to reach a valuation of $4.44 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.2%. This predicted growth over the forecast period can be ascribed to various factors such as the rise of electric bicycles, emerging markets, grid energy storage, portable power tools, and the transition period. Key trends that are expected to characterise the forecast period encompass advancements in energy density, recycling and sustainability, enhanced battery management, specialized applications, and hydrogen storage.
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What Are the Drivers Transforming the Nickel Metal Hydride Market?
The use of Nickel metal hydride batteries in hybrid vehicles is on the rise. Their ability to withstand a vast temperature range from -30 °C to + 75 °C and their quick-charging capabilities make them particularly suited to the automotive industry. The high-power levels required for electric vehicles can be met by NiMH batteries. A report by Bloomberg New Energy Finance (BNEF) projects that by 2040, electric vehicle sales could hit 540 million, representing approximately 32% of global passenger vehicles. This growth in electric vehicle demand is expected to have a positive effect on the NiMH battery market.
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What Long-Term Trends Will Define the Future of the Nickel Metal Hydride Market?
The lifespan of nickel-metal hydride batteries has been extended due to recent advancements in NiMH battery production. The A-elements' high electro-positivity allows them to corrode easily in the alkaline electrolyte that NiMH batteries use. A slim protective coating is applied to the alloy particles to enhance the corrosion stability and reaction kinetics of traditional NiMH batteries. For example, scientists at Stockholm University, a public institution in Sweden, have invented metal hydride surface structures for NiMH batteries to prolong their cycle life.
Which Segments in the Nickel Metal Hydride Market Offer the Most Profit Potential?
The nickel metal hydride market covered in this report is segmented -
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, After market
Subsegments:
1) By Small-Sized Ni-MH Battery For Consumer Electronics: Mobile Phones, Laptops, Digital Cameras, Other Consumer Electronics
2) By Large-Sized Ni-MH Battery For HEV (Hybrid Electric Vehicles): Automotive, Other HEV Applications
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Which Firms Dominate the Nickel Metal Hydride Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Nickel Metal Hydride Market?
Asia-Pacific was the largest region in the nickel metal hydride batteries market in 2023. North America is the second-largest region in the nickel metal hydride batteries market. The regions covered in the nickel metal hydride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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