The Nickel Metal Hydride Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Nickel Metal Hydride Global Market Report 2024, The nickel metal hydride market size has grown rapidly in recent years. It will grow 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.
The nickel metal hydride market size is expected to see rapid growth in the next few years. It will grow to $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. Major trends in the forecast period include improvements in energy density, recycling and sustainability, advanced battery management, specialized applications, hydrogen storage.
Nickel metal hydride batteries are increasingly being used in hybrid vehicles. The wide temperature range between -30 °C to + 75 °C and rapid charging capacity made these batteries ideal for the automotive sector. NiMH batteries can handle the high-power levels which are essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world’s passenger vehicles. The increasing demand for electric vehicles will positively impact the NiMH battery market.
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The nickel metal hydride market covered in this report is segmented –
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
The nickel metal hydride market report table of contents includes:
1. Executive Summary
2. Nickel Metal Hydride Batteries Market Characteristics
3. Nickel Metal Hydride Batteries Market Trends And Strategies
4. Nickel Metal Hydride Batteries Market – Macro Economic Scenario
5. Nickel Metal Hydride Batteries Market Size And Growth
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26. Africa Nickel Metal Hydride Batteries Market
27. Nickel Metal Hydride Batteries Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nickel Metal Hydride Batteries Market
29. Nickel Metal Hydride Batteries Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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