Nickel-Metal Hydride Battery Market Forecasts to 2028 – Global Analysis By Product (Small-Sized Ni-MH, Battery for Consumer Electronics and Large-Sized Ni-MH Battery for HEV), Sales Channel (OEM and Aftermarket), Application and By Geography

Nickel-Metal Hydride Battery Market Forecasts to 2028 – Global Analysis By Product (Small-Sized Ni-MH, Battery for Consumer Electronics and Large-Sized Ni-MH Battery for HEV), Sales Channel (OEM and Aftermarket), Application and By GeographyAccording to Stratistics MRC, the Global Nickel-Metal Hydride Battery Market is accounted for $ 617.42 billion in 2022 and is expected to reach $ 799.43 billion by 2028 growing at a CAGR of 4.4% during the forecast period. A nickel metal hydride battery is a type of rechargeable battery. The capacity of a nickel metal hydride battery can be two to three times more than that of a NiCd battery of an identical size, and its energy density can be similar to that of a lithium-ion battery. Additionally, the positive electrode's chemical reaction is comparable to that of the nickel-cadmium cell (NiCd), employing nickel oxide hydroxide in both cases (NiOOH). In place of cadmium, a hydrogen-absorbing alloy is used for the negative electrodes. These batteries are created using the reaction of cadmium and nickel to create standardised cylindrical forms that are compatible with nickel-cadmium batteries.

According to the Battelle Geneva Research Centre the key motivations for the Ni-MH studies were the environmental advantages associated with higher energy, lower pressure, and cost of Ni-MH compared to Ni-Cd. The development work was sponsored over nearly 2 decades by Daimler-Benz Comp. /Stuttgart and by Volkswagen AG within the framework of Deutsche Automobilgesellschaft. The batteries showed high energy and power densities up to 50 Wh/kg, 1000 W/kg and reasonable cycle life of 500 cycles.

Market Dynamics:

Driver:

Capable of handling the high-power levels

Nickel-Metal Hydride batteries have the high power capacities needed by electric vehicles. As a result, the global nickel-metal hydride (Ni-MH) battery market would experience growth due to the rising demand for electric vehicles. In addition, compared to a well designed charge control system, the nickel-metal hydride battery has a high energy density and may be charged and discharged quickly. These characteristics are advantageous in portable electronic gadgets. Thus, it is anticipated that the nickel-metal hydride (Ni-MH) battery market would grow throughout the predicted period due to the exponential growth in the use of electronic products and the stringent laws that have supported the expansion of consumer electronics.

Restraint:

Volatility in raw material prices

The volatility of raw material costs may hamper the Global Nickel-Metal Hydride (Ni-MH) Battery Market since most of the raw materials for creating nickel-metal hydride (Ni-MH) batteries are globally traded commodities with varying prices and may negatively influence battery manufacturers by diminishing market margins or sales due to increased battery pricing.

Opportunity:

Digital technology advances

The market for nickel metal hydride batteries is benefiting from developments in digital technology that allow for more effective production, portfolio expansion, operational maintenance, and sales tracking. Increasing disposable incomes in developing countries that are developing quickly, decentralised networks, intelligent automation, and a proliferation of demand for smart storage are a few of the important market developments.

Threat:

Availability of alternatives and restrictions

The development of the global market may be hampered by the availability of substitutes like lithium-ion batteries and restrictions put in place by different governments on the production of rechargeable batteries. This is because the manufacturing of batteries produces wastewater and releases pollutants that are harmful to the environment, including cadmium, cobalt, copper, cyanide, iron, lead, manganese, mercury, nickel, and zinc.

Covid-19 Impact

The ongoing covid-19 pandemic and severe lockdowns around the world have had a significant impact on industrial and commercial activities because to interruption in the supply chain and reduced demand. Similar trends have been seen in the industries that produce rechargeable batteries, where the decline in the use of a number of goods and gadgets has somewhat slowed the expansion of the NiMH Battery industry.

The large-sized ni-mh batteries for hevs segment is expected to be the largest during the forecast period

Based on the product, the market is classified into Small-Sized Ni-MH Battery for Consumer Electronics and Large-Sized Ni-MH Battery for HEV. The large-sized ni-mh batteries for hevs segment is projected to control the global nickel-metal hydride battery market and most liable explanation for the majority of the share during the forecast period. Due to their high energy density, large-sized batteries are increasingly being used instead of conventional ones. The market for hybrid electric vehicles, which use these batteries in their secondary cells, is experiencing a surge in demand, which is responsible for this rise.

The HEV segment is expected to have the highest CAGR during the forecast period
Based on the application, the market is segmented into HEV, Retail market, Cordless phone, Dust collector, Personal care, Lighting tools, Electric tool and Others. The HEV segment is captured to be more profitable and predicted to record a strong CAGR during the forecast period. Due to the increasing usage of Nickel metal hydride batteries in several applications including electric vehicles, cordless phones, dust collectors, personal care products, and lighting tools among others. Because of its ability to produce high power while maintaining low internal resistance, nickel-metal hydride batteries are expected to drive the nickel-metal hydride battery market over the forecast period.

Region with highest share:

North America is anticipated to hold the highest share during the forecast period. Owing to the increased use of hybrid cars, as well as telecommunications and medical device applications. Additionally, 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 all support the market's expansion.

Region with highest CAGR:

The Asia Pacific care management solutions market is one of the fastest-growing regions and also records highest CAGR during the forecast period. This is due to the region's supply and demand for resources. China is the largest market for batteries because it is the largest rising nation on the planet and a leading producer of battery electrolytes. According to data from IEA 2020, China is a global hub for various electronic items that need batteries and has produced more than 40% of the world's electric car units. NiMH batteries are also heavily consumed and produced in India, Japan, South Korea, and other nations, which portends a significant expansion of the regional growth.

Key players in the market

Some of the key players profiled in the Nickel-Metal Hydride Battery Market include ARTS Energy, Corun USA, Duracell Inc., Energizer Holdings, Inc., FDK Corporation, GP Batteries International Limited, GS Yuasa International Ltd., Panasonic Corporation, Primearth EV Energy Co., Ltd., VARTA Microbattery GmbH, Saft, Honda, Great Power Energy, Spectrum Brands (Rayovac)

Key Developments:

In April 2020, Honda Motor Europe expanding its partnership with SNAM (Société Nouvelle d’Affinage des Métaux) to recycle end-of-life batteries from hybrids and electric vehicles in Europe. SNAM will collect lithium-ion and nickel-metal hydride (NiMH) batteries for recycling and processing them accordingly.

In March 2020, Saft unveiled Intelli-Connect, a powerful digital monitoring tool that allows battery fleet operators to monitor the condition of number of nickel technology batteries remotely.

In January 2020, German battery manufacturer, VARTA AG acquired the US based Energizer Holdings, Inc.’s subsidiary, VARTA Consumer Batteries for $401 million. The acquisition will likely strengthen VARTA AG’s battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally. The company was founded in 2002 and is headquartered in Ellwangen, Germany.

Product Covered:
• Small-Sized Ni-MH Battery for Consumer Electronics
• Large-Sized Ni-MH Battery for HEV

Sales Channel Mode Covered:
• OEM
• Aftermarket

Application Covered:
• HEV
• Retail market
• Cordless phone
• Dust collector
• Personal care
• Lighting tools
• Electric tool
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
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Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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