Nickel metal hydride batteries are rechargeable batteries that offer advantages such as high energy density, durability and low self-discharge rates as compared to other rechargeable battery technologies. Nickel metal hydride batteries are commonly used in consumer electronics such as laptops, cameras, power tools and cordless phones. The growing demand for consumer electronics around the world is driving the growth of the Nickel Metal Hydride Battery market.
The global Nickel Metal Hydride Battery market is estimated to be valued at US$ 3.38 billion in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing demand for consumer electronics presents a major opportunity for Nickel Metal Hydride Battery Market Growth manufacturers. Consumer electronics have become an intrinsic part of daily lives with widespread adoption of gadgets such as smartphones, laptops, tablets etc. according to estimates over 6 billion smartphones are used worldwide. Additionally, over 1.5 billion laptops and over 500 million tablets are sold annually. The miniaturization trend and improved functionality is driving new product launches on a regular basis creating consistent demand for batteries used in these devices. Nickel metal hydride batteries offer an ideal balance of performance and cost for many consumer electronics. Therefore, manufacturers can tap into the immense opportunity arising from the burgeoning demand for consumer electronics by offering innovative and high-performance Nickel Metal Hydride Battery solutions.
Porter's Analysis
Threat of new entrants: Low capital requirements and established value chain pose low threat. However brand loyalty and economies of scale advantage existing players.
Bargaining power of buyers: Buyers have moderate power due to availability of substitutes. However differentiated products and applications create switching costs.
Bargaining power of suppliers: Suppliers of raw materials have moderate power due to availability of alternatives and focus on long term relationships maintain prices.
Threat of new substitutes: Threat of substitutes like lithium ion batteries is high due to their high energy density. However nickel metal hydride batteries have reliability advantage.
Competitive rivalry: Intense due to focus on product innovation, cost management and expanding applications.
SWOT Analysis
Strength: Established production capabilities and proven technology. Wide applications in consumer electronics and industrial equipment.
Weakness: Lower energy density compared to lithium ion batteries. Higher self-discharge rate requires regular recharging.
Opportunity: Growth in demand for power backup, electric vehicles and solar/wind energy storage. New cathode materials can improve performance.
Threats: stringent environment regulations around metal disposal. Declining average selling prices impact profits.
Key Takeaways
The global Nickel Metal Hydride Battery market is expected to witness high growth due to increasing demand for reliable and cost-effective energy storage solutions across diverse industries. 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.
Asia Pacific dominates due to presence of manufacturing facilities and growing consumer electronics industry in China, India and Southeast Asia. Regional demand is expected to grow at over 6% until 2031.
Key players operating in the Nickel Metal Hydride Battery market are Stempeutics Research Pvt. Ltd., Medipost Co. Ltd., Nipro Corporation, Dendreon Pharmaceuticals LLC, Organogenesis Inc., Novartis AG, Vericel Corporation, Allogene Therapeutics Inc., Gilead Sciences Inc. (Kite Pharma Inc.), and Takeda Pharmaceutical Company Limited (TiGenix), among others. Major players focus on new cathode materials, expanding production capacities and gaining larger share of applications like electric vehicles, power tools and energy storage.
The very recent Global Nickel- Metal Hydride Battery market research report published by Introspective Market Research is in favor of representing the upcoming trends and valuation of Nickel- Metal Hydride Battery market.
The Market report data has been collected and structured by the team of industry specialists/experts who have studied and predicted the market environment from 2020 to 2027, researchers have used primary and secondary research methodologies to determine the path of the market throughout the forecast years.
The information concentrated by the specialists is upheld by noteworthy and conjecture esteems seeing all the significant perspectives.This Press Release will help you to understand the Volume, growth with COVID19 Impact Analysis.
Click HERE To get SAMPLE PDF (Including TOC, Table & Figures) at: https://introspectivemarketresearch.com/request/10756Key Player Mentioned: Primearth EV Energy, FDK CORPORATION, Hunan Corun New Energy, Union Suppo Battery (Liaoning), BYD, SAFT, GS Yuasa, Varta, Rodac, Highpower International, J & A Electronics, Zeus Battery Products.Product Segment Analysis: By Size: AAA, AA, C, or D, By Usage Patterns: fit for a high-drain device, fit for a device with very low drain, By Capacity: 2000 mAh and othersApplication Segment Analysis: Consumer electronics, Electric vehicles, Remote control, Other.Regional Segment Analysis: North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.
The report gives an away from of different drivers, fragments, government approaches, mechanical developments, openings, challenges, market chances, market hindrances, forthcoming patterns and serious scene.Experts have additionally featured the likely driving variables and different examinations, for example, investigation of deals, income, development rate, Value chain examination, gracefully chain examination, and whatnot.
: https://introspectivemarketresearch.com/discount/10756 Key Benefits of the report: The report on global Nickel- Metal Hydride Battery market offers the reader an extensive analysis of the current and upcoming market trends and dynamics.
The Nickel Metal Hydride Global Market Report 2020-30 by The Business Research Company describes and explains the global nickel metal hydride market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Nickel Metal Hydride Global Market Report 2021 covers nickel metal hydride market drivers, nickel metal hydride market trends, nickel metal hydride market segments, nickel metal hydride market growth rate, nickel metal hydride market major players, and nickel metal hydride market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/nickel-metal-hydride-batteries-global-market-reportThe nickel metal hydride market report provides an in-depth analysis of the impact of COVID-19 on the global nickel metal hydride industry, along with revised market numbers due to the effects of the coronavirus and the expected nickel metal hydride market growth numbers 2021-2030.Nickel Metal Hydride Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now:https://www.thebusinessresearchcompany.com/sample.aspx?id=2677=smpThe global nickel metal hydrides market is expected to decline from $1.86 in billion 2020 to $1.85 billion in 2021 at a compound annual growth rate (CAGR) of -0.5%.
The decline in the market is mainly due to a halt in the production of nickel metal hydride batteries, supply chain disruptions, and labor shortages caused during the COVID-19 outbreak.
The nickel metal hydride batteries market is expected to reach $1.95 billion in 2025 at a CAGR of 1%.The report covers the nickel metal hydride market segments-1) By Type: Small-Sized Ni-MH Battery for Consumer Electronics, Large-Sized Ni-MH Battery for HEV2) By Application: Automotive, Cordless Phone, Dust Collector, Personal Care, Lighting Tools, Electric Tool3) By Sales Channel: OEM, AftermarketAbout The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
