Nickel Metal Hydride Global Market Trends, Strategies, and Outlook by 2024-2033

Nickel Metal Hydride Market Trends, Strategies, and Outlook by 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 12, 2024 /EINPresswire.com/ --
The nickel metal hydride market has experienced robust growth in recent years, expanding from $3.54 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to consumer electronics, hybrid electric vehicles (hevs), rechargeable battery market, low cost and wide availability, environmental concerns.

Strong Future Growth Anticipated
The nickel metal hydride market is projected to continue its strong growth, reaching $5.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to electric bicycles (e-bikes), emerging markets, grid energy storage, portable power tools, transition period.

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Growth Driver Of The Nickel Metal Hydride Market
The increasing demand for energy sector is expected to propel the growth of the nickel metal hydride market going forward. The energy sector, also known as the energy industry, encompasses all industries and activities related to the production, distribution, and consumption of energy. The energy sector, particularly the shift toward cleaner and more sustainable energy sources, is driving the demand for electric vehicles (EVs). NiMH batteries are commonly used in hybrid electric vehicles (HEVs) and some plug-in hybrid electric vehicles (PHEVs).

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Major Players And Market Trends
Key players in the nickel metal hydride market include Duracell, Energizer Holdings Inc., Panasonic Corporation, Primearth EV Energy Co. Ltd., Spectrum Brands Holdings Inc.
Major companies operating in the nickel metal hydride market are establishing new plants such as Ishihama Plant to increase their profitability in the market.

Segments:
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, Aftermarket

Geographical Insights: Asia-Pacific Leading The 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

Nickel Metal Hydride Market Definition
A nickel metal hydride battery refers to an energy storage battery or rechargeable battery. These batteries are composed of electrochemical charge/discharge reactions that occur between a positive electrode and a negative electrode. They are used in widespread applications, especially in high-end portable electronic products.

Nickel Metal Hydride Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Nickel Metal Hydride Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on nickel metal hydride market size, nickel metal hydride market drivers and trends, nickel metal hydride market major players, nickel metal hydride competitors' revenues, nickel metal hydride market positioning, and nickel metal hydride market growth across geographies. The nickel metal hydride market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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