Nickel Metal Hydride (NiMH) Battery Market Forecasts to 2030 – Global Analysis By Component (Electrode, Cathode, Anode and Electrolyte), Battery Type (A, AA, AAA, C, D, 9V and Other Battery Types), Capacity Range, Chemistry, Size, Sales Channel, End User

Nickel Metal Hydride (NiMH) Battery Market Forecasts to 2030 – Global Analysis By Component (Electrode, Cathode, Anode and Electrolyte), Battery Type (A, AA, AAA, C, D, 9V and Other Battery Types), Capacity Range, Chemistry, Size, Sales Channel, End User and by Geography

According to Stratistics MRC, the Global Nickel Metal Hydride (NiMH) Battery Market is accounted for $2.52 billion in 2024 and is expected to reach $3.40 billion by 2030 growing at a CAGR of 5.1% during the forecast period. Rechargeable batteries that use a positive electrode made of nickel hydroxide and a negative electrode made of an alloy that absorbs hydrogen are called nickel metal hydride (NiMH) batteries. Due to their higher energy density and lower environmental impact (because they don't contain toxic cadmium), they provide significant advantages over older technologies like nickel-cadmium (NiCd) batteries.

According to Energizer Brands, LLC, the true advantage of NiMH batteries can be found in the cycle life, as they can be recharged 100’s of times, potentially allowing them to be equivalent to hundreds of alkaline batteries in total service over their lifetime.

Market Dynamics:

Driver:

Demand in the automotive industry

NiMH batteries are widely used in the automotive industry, especially in hybrid electric vehicles (HEVs). Manufacturers are increasingly turning to NiMH technology because of its proven performance and dependability as governments throughout the world impose stricter emissions regulations and encourage electric mobility. For HEVs that need effective energy storage for electric propulsion and regenerative braking systems, NiMH batteries offer a good balance between energy density, cost, and safety. Additionally, NiMH technology may also find use in less expensive electric vehicles (EVs), which would increase demand as the market for EVs grows.

Restraint:

Lithium-ion batteries competition

The fierce competition from lithium-ion batteries is one of the biggest obstacles to the NiMH battery market. Because lithium-ion technology has a longer cycle life, a higher energy density, and a lighter weight, it is better suited for high-performance applications like portable electronics and electric vehicles (EVs). Advances in manufacturing and technology have made lithium-ion batteries more affordable. Furthermore, this presents a significant threat to NiMH's market share, especially in industries where performance and efficiency are critical.

Opportunity:

Increasing uptake of electric hybrid vehicles (HEVs)

NiMH batteries have a big chance because of the rising demand for hybrid electric vehicles (HEVs). Greener technologies are driving the automotive industry's shift as governments impose stricter emissions regulations and consumers grow more environmentally conscious. Because NiMH batteries are safe, affordable, and have a high energy density, they are a good fit for hybrid electric vehicles. Moreover, the need for NiMH batteries is anticipated to increase as a result of significant investments made by big automakers in the development of HEVs, offering manufacturers in these industry significant growth opportunities.

Threat:

Developments in alternative battery technologies technologically

Lithium-ion batteries are not the only cutting-edge battery technologies being developed; solid-state and lithium-sulfur batteries have the potential to surpass NiMH batteries in terms of safety and energy density. By providing improved performance metrics like quicker charging times and longer life spans, these innovations have the potential to further disrupt the market. Additionally, these alternative technologies may eventually surpass NiMH in market segments it currently serves as research and development in their advances, which would limit NiMH's potential for growth.

Covid-19 Impact

The nickel metal hydride (NiMH) battery market has been severely impacted by the COVID-19 pandemic, mainly as a result of supply chain disruptions and demand swings. Strict lockdowns during the pandemic caused the temporary closure of manufacturing plants, especially in vital locations like China, which is essential for the production of batteries. Furthermore, this caused delays and decreased NiMH battery output, which had an impact on a number of industries that depended on these power sources, including consumer electronics and the automobile industry. On the other hand, as more people chose to work from home due to the pandemic, there was a rise in demand for electronic devices and dependable power sources.

The AA segment is expected to be the largest during the forecast period

Due to its adaptability and extensive use in a variety of consumer electronics, the AA NiMH battery segment commands the largest market share. AA batteries are a household and business staple because they are widely used in gadgets like toys, remote controls, digital cameras, and portable music players. Compared to single-use alkaline batteries, their rechargeable nature lowers environmental impact and offers significant cost savings over time. Moreover, AA NiMH batteries are preferred for their ability to provide dependable performance in devices with moderate energy consumption because they strike a good balance between size and capacity.

The 2500-5000 mAh segment is expected to have the highest CAGR during the forecast period

The 2500-5000 mAh segment is expected to have the highest CAGR during the forecast period. The main factor fueling this expansion is the rising demand for batteries capable of powering high-drain devices like electric bicycles, power tools, and hybrid electric vehicles (HEVs). Additionally, the 2500-5000 mAh range is well-positioned to benefit from these trends as industries continue to look for cost-effective energy storage solutions that strike a balance between performance and environmental sustainability.

Region with largest share:

The market for nickel metal hydride (NiMH) batteries is dominated by the Asia-Pacific region. Major electronics manufacturing hubs like China and Japan, which have a strong demand for rechargeable batteries across a range of industries, including consumer electronics, automotive, and industrial applications, are largely responsible for this dominance. Large-scale NiMH battery production is made possible in the area by competitive manufacturing skills and a strong supply chain infrastructure. Furthermore, supportive government initiatives encouraging the use of electric vehicles and renewable energy sources also contribute to the growth of the Asia-Pacific market.

Region with highest CAGR:

Due to the growing need for rechargeable batteries in a variety of applications, especially in the automotive and consumer electronics industries, the North American region is predicted to have the highest CAGR in the nickel metal hydride (NiMH) battery market. As a leader in technology and automotive innovation, the US is concentrating on the advancement of renewable energy sources and hybrid electric vehicles (HEVs), both of which mainly rely on effective energy storage technologies like NiMH batteries. Additionally, both manufacturers and consumers are looking for environmentally friendly alternatives to conventional batteries as a result of the growing trend toward sustainability and lowering carbon footprints.

Key players in the market

Some of the key players in Nickel Metal Hydride (NiMH) Battery market include Enersys, Ansmann AG, Fujitsu, Panasonic Corporation, Exide Technologies, BYD Company Limited, GP Batteries International Limited, Energizer Holdings, Inc., FDK Corporation, Toshiba, Varta AG., Duracell Inc., Primearth EV Energy Co., Ltd., Johnson Controls and Huanyu Battery Co., Ltd.

Key Developments:

In July 2024, Panasonic Corporation announced that its Cold Chain Solutions Company has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z o.o., a Polish refrigeration equipment manufacturer. This transaction is a strategic step for Panasonic to strengthen its condensing unit business in the European market and to accelerate its ongoing global expansion.

In July 2024, Fujitsu has signed a memorandum of understanding (MoU) with the Australian National University (ANU) in Canberra to establish a quantum research center. Under the terms of the agreement, the two parties also announced their ambitions to build a 256-qubit on-premise quantum computer at the new center in 2025.

In May 2024, EnerSys, the global leader in stored energy solutions for industrial applications, announced it has entered into a definitive agreement to acquire Bren-Tronics, Inc. in an all-cash transaction of $208 million. The purchase price represents approximately 8.7x Bren-Tronics’ adjusted EBITDA for the twelve months.

Components Covered:
• Electrode
• Cathode
• Anode
• Electrolyte

Battery Types Covered:
• A
• AA
• AAA
• C
• D
• 9V
• Other Battery Types

Capacity Ranges Covered:
• 500 mAh
• 500-1500 mAh
• 1500-2500 mAh
• 2500-5000 mAh
• >5000 mAh

Chemistries Covered:
• Nickel-Zinc
• Nickel-Cobalt
• Nickel-Manganese
• Nickel-Iron

Sizes Covered:
• Small & Medium Enterprises
• Large Enterprises

Sales Channels Covered:
• OEM
• Aftermarket

End Users Covered:
• Automotive
• Consumer Electronics
• Healthcare
• Industrial
• Residential
• Commercial
• Other End Users

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 2022, 2023, 2024, 2026, and 2030
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