 |
| Nickel Metal Hydride Battery Market |
Nickel metal hydride (NiMH) batteries are rechargeable batteries commonly used in consumer electronics like toys and cordless power tools. They have advantages like relatively high energy densities, moderate self-discharge rate, and lack of memory effect when compared to other battery technologies.
The global
nickel metal hydride battery market is estimated to be valued at US$ 3.38 Mn in 2024 and is expected to
exhibit a CAGR of 5.0% over the
forecast period 2024 to 2031, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Rising demand for reliable and safe rechargeable batteries from the consumer
electronics industry has been a major factor driving the growth of nickel metal
hydride batteries market. NiMH batteries have emerged as an
environment-friendly and cost-effective alternative to nickel-cadmium
batteries. Their longer lifespan and high energy capacity make them suitable
for powering various portable consumer electronic devices. Growing sales of
electronic gadgets such as cameras, toys and power tools across the globe has
accelerated the demand for NiMH batteries during the forecast period.
Segment Analysis
The global nickel metal hydride battery market is dominated by the consumer
electronics sub-segment. This is because Ni-MH batteries are widely used in
consumer electronics like cameras, cordless phones, laptops, and power tools
due to their high energy density, low self-discharge rate, and no memory effect
when compared to other battery technologies. They are reasonably priced and
their cylindrical shape suits consumer applications effectively.
Key Takeaways
The global Nickel
Metal Hydride Battery Market Share is expected to witness high growth
over the forecast period owing to factors like growing demand for portable
electronics and electric vehicles. The global nickel metal hydride battery
market is estimated to be valued at US$ 3.38 Mn in 2024 and is expected to
exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific dominates the global nickel metal hydride
battery market currently due to the presence of various battery and consumer
electronics manufacturers in countries like China, Taiwan, Japan and South
Korea. The region is expected to continue its dominance owing to growing
disposable income, increasing electronic products demand and supportive
government policies for electric vehicles adoption.
Key players: Key players operating in the nickel metal hydride battery market
are Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation,
Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapeutics
Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical
Company Limited (TiGenix), among others.
For more insights, read- https://www.pressreleasebulletin.com/nickel-metal-hydride-battery-market-trends-size-and-share-analysis/
For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/luxury-travel-market-is-estimated-to-witness-high-growth-owing-to-increased-adventurism
0 Comments