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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