Nickel Zinc Rechargeable Battery Market Size, Share & Trends Analysis Report By Type (AAA Battery, 5AA Battery), By Application (Automobile, UPS, Data Center), By Region, And Segment Forecasts, 2024 - 2030

Nickel Zinc Rechargeable Battery Market Size, Share & Trends Analysis Report By Type (AAA Battery, 5AA Battery), By Application (Automobile, UPS, Data Center), By Region, And Segment Forecasts, 2024 - 2030

Nickel Zinc Rechargeable Battery Market Growth & Trends

The global nickel zinc rechargeable battery market size is anticipated to reach USD 59.18 million by 2030 and is projected to grow at a CAGR of 24.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed rising adoption of these batteries across various applications, including automobiles, uninterruptible power supplies (UPS), data centers, and national defense. These batteries offer several advantages over others, such as high energy density, long cycle life, and environmental friendliness, making them an attractive choice for a wide range of industries.

Based on type, the market is segmented into 5AA battery, AAA battery, and others. Of all, AAA battery holds a major market share. The high share is on account of the widespread use of AAA batteries in consumer electronics, such as remote controls and portable devices, as well as its high energy density and longer lifespan compared to traditional battery types, which further aids its consumption.

Based on application, the UPS segment accounted for the largest revenue share, in 2023 of the global market. This segment's growth can be attributed to the increasing need for reliable backup power solutions in data centers, commercial establishments, and industrial facilities, driven by rising digitalization and the demand for uninterrupted power supply. In June 2024, Actis, announced launch of Epoch Digital a new integrated data center platform in Asia with the current portfolio of c.200 MW of IT capacity across three projects.

Asia Pacific held the largest revenue share of the overall market in 2023 owing to substantial investments in renewable energy and electric vehicle infrastructure, advancements in battery manufacturing technologies, and supportive government policies promoting clean energy. The region's significant demand for consumer electronics and the presence of major battery manufacturers have also contributed to this dominant market position. Favorable policies in countries, such as China, Japan, and South Korea, are promoting investments in nickel-zinc rechargeable battery infrastructure development projects.

The competitive rivalry in the global market is high as major market players concentrate on strengthening their relationships with system installers and opt for collaborations and mergers to enhance their presence in the value chain and expand their geographical presence. For instance, in April 2023, ZincFive Inc. collaborated with KCE to develop a microgrid solution using nickel-zinc battery systems paired with hydrogen and EV charging.

Nickel Zinc Rechargeable Battery Market Report Highlights

• Based on type, the 5AA battery segment is expected to register a CAGR of 29.8% over the forecast period, on account of growing demand in consumer electronics and automotive industries
• Based on application, the UPS segment led the market with the largest revenue share of 30.60% in 2023. Increasing adoption of electric vehicles is driving the need for batteries
• Europe is anticipated to register at a significant CAGR of 26.2% over the forecast period. Rapid adoption of electric vehicles coupled with developments for data centers is propelling the regional growth
• Collaboration is one of the key strategies opted by market players. For instance, in October 2023, ZincFive announced its agreement to license its nickel-zinc-based UPS technology to Econolite

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