The global NiMH battery market is anticipated to grow at a substantial CAGR of 5.2% during the forecast period. One of the core factors that is fueling the market is its much more eco-friendlier than nickel-Cadmium (Ni-Cd)Batteries. The Ni-Cd batteries contain heavy metal which is hazardous to the environment and is highly toxic to all higher forms of life which is not the case with NiMH batteries. This has pushed the more production of the NiMH batteries in the market as the government, and environmentalists opposed the production of the Ni-Cd batteries to save the environment, and the life of animals near the industry and the workers. For instance, European Union banned the use of Cadmiumin batteries from the region on 31 December 2016.
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The rising demand for electric vehicles and hybrid electric vehicles globally owing to their eco-friendly attributes has driven the global NiMH battery market. Sales of electric vehicles have increased across all areas and powertrains globally, and China continues to lead the market. Sales of BEVs (Battery Electric Vehicles) rose by 60.0% in China in 2022 compared to 2021, reaching 4.4 million, while sales of PHEVs (Plug-in Hybrid Electric Vehicles) nearly tripled to 1.5 million. After growing moderately between 2018 and 2020, BEV sales in China tripled between 2020 and 2021.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global NiMH Battery Market by Application
- Consumer Electronics
- Industrial
- Automotive
- Others
Global NiMH Battery Market by Category
- Eneloop
- Nickel Metal Hydride
- Patent Encumbrance Of Large Automotive NiMH Batteries
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Aeg Powertools
- Basf
- Cell-Con
- Duracell
- Energizer
- GP Batteries
- Harding Energy
- Johnson Controls
- Panasonic
- Power-Sonic Corporation
- Rayovac
- Shenzen Nova
- Spectrum Brands
- Supreme Batteries Pvt. Ltd.
- Taurac
- Uniross
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global NiMH battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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