Nickel Metal Hydride (Nimh) Battery Market To Hit USD 4.07 Billion By 2032, Fueled By Demand For Eco-Friendly Energy Storage | SNS Insider

Austin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Nickel Metal Hydride (NiMH) Battery market Size & Growth Insights:

According to the SNS Insider,“The Nickel Metal Hydride (NiMH) Battery Market Size was valued at USD 2.84 billion in 2023 and is expected to grow to USD 4.07 billion by 2032 and grow at a CAGR of 4.08% over the forecast period of 2024-2032.”

Growth of NiMH Battery Market Driven by Renewable Energy and EV Adoption

The Nickel Metal Hydride (NiMH) battery market is witnessing robust growth, fueled by its increasing use in renewable energy storage, electric vehicles (EVs), and portable electronics. NiMH batteries offer superior safety, longer cycle life, and high power output, making them ideal for large-scale energy storage systems that support grid integration of solar and wind energy. As global renewable energy capacity expands, the need for efficient storage solutions grows, boosting NiMH battery demand. Additionally, government policies promoting clean energy and sustainability, alongside the rise of electric vehicle infrastructure, are accelerating adoption. By 2030, electric vehicles are expected to make up 45% of global vehicle sales, further driving NiMH battery market growth.

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Leading Market Players with their Product Listed in this Report are:

• Energizer Holdings, Inc. (Energizer Rechargeable Batteries)
• Panasonic Holdings Corporation (Eneloop NiMH Rechargeable Batteries)
• Duracell (Duracell Rechargeable NiMH Batteries)
• VARTA AG (VARTA Rechargeable NiMH Batteries)
• FDK Corporation (FDK NiMH Rechargeable Batteries)
• BYD Company Limited (BYD NiMH Battery Packs)
• Primearth EV Energy Co., Ltd. (Primearth EV Energy NiMH Batteries)
• GP Batteries International Limited (GP ReCyko+ NiMH Rechargeable Batteries)
• Toshiba Corporation (Toshiba NiMH Rechargeable Batteries)
• Sanyo Electric Co. Ltd . (Sanyo Eneloop NiMH Batteries)
• Panasonic Energy (Panasonic NiMH Battery Cells)
• ATL (Advanced Technology & Materials) (ATL NiMH Battery Cells)
• Hitachi Maxell, Ltd. (Maxell NiMH Rechargeable Batteries)
• Saft Group (Saft NiMH Rechargeable Batteries)
• NEC Corporation (NEC NiMH Battery Cells)
• Sony Corporation (Sony NiMH Rechargeable Batteries)
• Samsung SDI (Samsung NiMH Rechargeable Batteries)
• Shenzhen BAK Battery Co., Ltd. (BAK NiMH Rechargeable Batteries)
• CALB (China Aviation Lithium Battery Co., Ltd.) (CALB NiMH Batteries)
• LG Chem (LG NiMH Battery Cells).

Nickel Metal Hydride (NiMH) Battery Market Report Scope:

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Dominance of Electrodes and Small-Sized Batteries in the Nickel Metal Hydride (NiMH) batter Battery Market

By Component

The electrode segment led the Nickel Metal Hydride (NiMH) battery market with a 48% share in 2023, driven by its crucial role in battery performance and efficiency. Comprising nickel hydroxide (positive electrode) and metal hydride (negative electrode), electrodes enable the core energy storage and release processes in NiMH batteries. They are essential in various applications, including consumer electronics, power tools, and hybrid vehicles, where energy density and stability are vital. Technological advancements, such as rare-earth alloys for better hydrogen storage and improved nickel compounds, have enhanced electrode performance, while the eco-friendly nature of NiMH batteries further supports demand and market growth.

By Size

In 2023, small-sized Nickel Metal Hydride (NiMH) batteries led the market with around 59% of the revenue share. Their popularity is driven by their versatility, compact design, and suitability for consumer electronics, medical devices, and small household appliances. Offering reliable energy for products like cameras, toys, and hearing aids, these batteries are rechargeable, have long cycle lives, and are eco-friendly. Technological improvements in electrode materials and energy density have further boosted their performance, reinforcing their dominance in the market.

North America and Asia-Pacific Lead the Nickel Metal Hydride (NiMH) batteries Battery Market Growth

In 2023, North America accounted for 41% of the NiMH battery market, driven by demand from consumer electronics, automotive, and renewable energy sectors. The region's leadership is supported by advanced infrastructure, significant EV production investments, and a growing focus on sustainability. The U.S. plays a key role in battery manufacturing and adoption of green technologies.

Meanwhile, Asia-Pacific is the fastest-growing market, fueled by rapid industrialization and increasing demand for EVs and electronics. China leads in production, while Japan and South Korea innovate in battery technology, and India invests in electric mobility. Government incentives and favorable regulations further enhance the region's market dominance.

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Recent Development

• January 4, 2025 EV Batteries: Key to Sustainable Transport and Energy January 4, 2025EV batteries are crucial for sustainable transportation, powering vehicles without greenhouse gas emissions. Recent advancements, including lithium-ion and alternative technologies, focus on improving performance and sustainability, with a shift toward eco-friendly materials.
• Recent Trend in Rechargeable Batteries (2025), As of 2025, there is a strong shift towards rechargeable batteries as sustainable alternatives, with increasing demand for high-capacity, long-lasting options like Panasonic Eneloop and affordable bulk packs. USB rechargeable batteries are also gaining popularity for their convenience and eco-friendly advantages.

T able o f Contents - Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Production and Sales Volumes, 2020-2032, by Region

5.2 Component Adoption Rates, by Region

5.3 Innovation and R&D Spending, by Region

5.4 Regulatory Impact, by Region

5.5 Supply Chain Metrics

6. Competitive Landscape

7. Nickel Metal Hydride (NiMH) Battery Market Segmentation, by Component

8. Nickel Metal Hydride (NiMH) Battery Market Segmentation, by Battery Type

9. Nickel Metal Hydride (NiMH) Battery Market Segmentation, by Size

10. Nickel Metal Hydride (NiMH) Battery Market Segmentation, by Sales Channel

11. Nickel Metal Hydride (NiMH) Battery Market Segmentation, by Vertical

12. Regional Analysis

13. Company Profiles

14. Use Cases and Best Practices

15. Conclusion

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