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Global Nickel-Metal Hydride Battery Market Share, Size, Analysis, Forecast: By Type: Small-Sized, Large-Sized; By Application: Automotive, Electrical and Electronics, Consumer Goods, Others; By Sales Channels: OEM, Aftermarket; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Nickel-Metal Hydride Battery Market Outlook
The global nickel-metal hydride battery market size is expected to grow at a CAGR of 2.50% during the forecast period of 2024-2032, owing to the rapid increase in use of the battery in numerous end-user industries.
Key Trends in the Market
A rechargeable energy storage device called a nickel-metal hydride battery (sometimes referred to as a NiMH or Ni-MH battery) relies on electrochemical charge/discharge interactions between positive and negative electrodes. The chemical reaction of the positive electrode is similar to that of a nickel-cadmium cell because nickel oxide hydroxide is used in both (NiCd). These batteries are used in many different applications, including high-end portable electronic gadgets.
- The nickel-metal hydride (Ni-MH) battery market demand is predicted to grow significantly over the forecast period as a result of the rising demand from the automotive industry. Ni-MH batteries, which provide the large power capabilities required by electric vehicles, are increasingly used in hybrid and electric vehicles. As a result of the growing demand for electric vehicles, the market for nickel-metal hydride (Ni-MH) batteries will expand globally.
- Further, the rising use of electronics devices like mobile phones, electric shavers, electric toothbrushes, laptops, and other portable electrical appliances will provide lucrative growth opportunities to the nickel-metal hydride battery industry.
- Nickel-metal hydride finds extensive applications and end-uses as the demand for power has been increasing tremendously. As a result, modernisation efforts and the development of the infrastructure for electricity generation are being made by various governments. An essential part of the power supply in appliances is the nickel-metal hydride battery. Therefore, it is anticipated that rising electricity demand, particularly in the electronics industry, will raise demand for nickel-metal hydride batteries.
Global Nickel-Metal Hydride Battery Market Analysis
Based on type, the market is segmented into small-sized and large-sized. The market on the basis of application can be divided into automotive, electrical and electronics, and consumer goods, among others. On the basis of sales channels, the market can be segmented into OEM and aftermarket. The regional markets for nickel-metal hydride battery can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following major nickel-metal hydride battery companies, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Panasonic Corporation
- Primearth EV Energy Co., Ltd.
- Duracell Inc.
- Energizer Holding, Inc
- Saft Group SAS
- FDK Corporation
- NEXcell Battery Co, Ltd
- Others
Market Share by Application
Due to the rising use of nickel-metal hydride (Ni-MH) batteries in passenger and commercial vehicles, including electric and hybrid cars, the automotive sector dominates the global nickel-metal hydride battery market. Additionally, advancements in the nickel-based components used in automotive Ni-MH batteries will help the industry grow. Since Ni-MH batteries outperform Li-ion batteries in terms of longevity and safety, they are being utilised in hybrid vehicles.
Ni-MH batteries are inherently safer than Li-ion batteries because they do not contain flammable liquids. Large-sized batteries are replacing traditional batteries in more and more applications due to their high energy density. There is an increase in demand for hybrid electric vehicles, which utilise these batteries in their secondary cells, thus aiding the segment growth.
Market Share by Region
Due to the rising popularity of hybrid vehicles and the increasing use of NiMH battery in telecommunications and medical equipment, North America is predicted to dominate the global nickel-metal hydride battery market. The growing number of research and development projects for battery advancements, the increased consumption of batteries across a variety of end-user industries, and the expanding popularity of consumer electronics in this region will support the nickel-metal hydride battery market expansion. Due to the rising popularity of electric and hybrid vehicles in North America, NiMH battery usage is anticipated to expand. The need for NiMH batteries has expanded due to the region's large user base for electronic devices, such as mobile phones, laptops, audio players, and other electronic products.
Besides North America, Europe is expected to grow significantly throughout the anticipated period due to tight regulations in countries that promote the use of electric vehicles for both personal and public transportation in order to minimise carbon emissions. Greater potential for the expansion of NiMH batteries is anticipated as the demand for alternative transportation options in European countries rises significantly.
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Competitive Landscape of the Nickel-Metal Hydride Battery Market
Primearth EV Energy Co., Ltd., a major Japan based producer, was established in 1996. With its headquarters in Shizuoka Prefecture, Japan, the business develops, produces, and distributes lithium-ion batteries, battery modules, and nickel-metal hydride batteries used in hybrid and pure electric vehicles (HEV and PEV).
Energizer Holding, Inc., with its headquarters in Missouri, United States, is one of the biggest producers of primary batteries and portable lighting devices worldwide. The company is supported by its internationally renowned brands, Energizer, EVEREADY, Rayovac, and VARTA. Alkaline, carbon zinc, micro, and rechargeable batteries, as well as lighting items, are all available from the company.
NEXcell Battery Co. Ltd., established in 1994, aspires to supply the cordless globe with high performance rechargeable nickel metal hydride batteries and lithium-ion battery packs for portable green power. The batteries can be used in a wide range of consumer and business applications, including electric bicycles, portable tools, digital cameras, and telephones. Additionally, NEXcell collaborates with clients on collaborative battery project development.
Other market players include Panasonic Corporation, Duracell Inc., Saft Group SAS, and FDK Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Sales Channels |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Nickel-Metal Hydride Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Nickel-Metal Hydride Battery Historical Market (2018-2023)
8.3 Global Nickel-Metal Hydride Battery Market Forecast (2024-2032)
8.4 Global Nickel-Metal Hydride Battery Market by Type
8.4.1 Small-Sized
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Large-Sized
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Nickel-Metal Hydride Battery Market by Application
8.5.1 Automotive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Electrical and Electronics
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Consumer Goods
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Nickel-Metal Hydride Battery Market by Sales Channels
8.6.1 OEM
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Nickel-Metal Hydride Battery Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Nickel-Metal Hydride Battery Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Nickel-Metal Hydride Battery Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Nickel-Metal Hydride Battery Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Nickel-Metal Hydride Battery Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Nickel-Metal Hydride Battery Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Panasonic Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Primearth EV Energy Co., Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Duracell Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Energizer Holding, Inc
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Saft Group SAS
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 FDK Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 NEXcell Battery Co, Ltd
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Nickel-Metal Hydride Battery Market: Key Industry Highlights, 2018 and 2032
2. Global Nickel-Metal Hydride Battery Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Nickel-Metal Hydride Battery Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Nickel-Metal Hydride Battery Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Nickel-Metal Hydride Battery Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Nickel-Metal Hydride Battery Historical Market: Breakup by Sales Channels (USD Million), 2018-2023
7. Global Nickel-Metal Hydride Battery Market Forecast: Breakup by Sales Channels (USD Million), 2024-2032
8. Global Nickel-Metal Hydride Battery Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Nickel-Metal Hydride Battery Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Nickel-Metal Hydride Battery Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Nickel-Metal Hydride Battery Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Nickel-Metal Hydride Battery Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Nickel-Metal Hydride Battery Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Nickel-Metal Hydride Battery Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Nickel-Metal Hydride Battery Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Nickel-Metal Hydride Battery Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Nickel-Metal Hydride Battery Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Nickel-Metal Hydride Battery Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Nickel-Metal Hydride Battery Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Nickel-Metal Hydride Battery Market Structure
Key Questions Answered in the Report
The market for nickel-metal hydride battery is projected to grow at a CAGR of 2.50% during the forecast period of 2024-2032.
The major drivers of the nickel-metal hydride battery market include the growing demand for power, infrastructure development for electricity generation, growing number of research and development projects for battery advancements, and growing demand for alternative transportation options.
The increasing demand for Ni-MH batteries in the automotive industry and rising use of electronics devices are the key industry trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Based on type, the market is segmented into small-sized and large-sized.
These batteries find extensive applications in automotive, electrical and electronics, and consumer goods, among others.
The major players in the industry are Panasonic Corporation, Primearth EV Energy Co., Ltd., Duracell Inc., Energizer Holding, Inc, Saft Group SAS, FDK Corporation, and NEXcell Battery Co, Ltd, among others.
Compared to the average alkaline battery, nickel metal hydride batteries are more expensive. When they run out of charge, they frequently shut off the power abruptly. They also swiftly self-discharge.
NiMH batteries typically have a high rate of rechargeability, which might make them functionally comparable to hundreds of alkaline batteries throughout the course of their lifetime. Though, the battery life is restricted to 5 years or less.
A NiMH cell's capacity and cycle life may be permanently reduced if it is overcharged excessively. Elevated temperatures are felt when a cell is overcharged to the point that pressure starts to build up. This can result in the separator losing electrolyte.
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