Nickel Hydrogen Batteries Market (Application - Automotive, Electrical, Electronics, Consumer Goods, Medical, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on nickel hydrogen batteries market provides in-depth analysis of segments and sub-segments in the global as well as regional nickel hydrogen batteries market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nickel hydrogen batteries market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global nickel hydrogen batteries market.

Market Insight:

The global nickel hydrogen batteries market was valued at USD 2.09 billion in 2022 and is expected to reach USD 2.96 billion in 2030, with a CAGR of 3.86% during the forecast period 2023-2030.

Nickel hydrogen batteries, also referred to as NiH2 batteries, are rechargeable energy storage devices that consist of nickel-based positive electrodes and hydrogen-absorbing alloys for the negative electrode. These batteries find extensive usage in satellites, electric vehicles, renewable energy storage systems, and consumer electronics. These batteries are sustainable solutions for energy storage requirements and are recyclable as well. By delivering reliable and efficient power, they contribute significantly to the advancement of modern technologies while fostering a greener and more sustainable future.

The market for nickel hydrogen batteries has grown in recent years due to the rising demand for electronic products and electric cars. These high-performance batteries are suitable for a variety of applications in the electronics and automotive industries owing to their outstanding energy storage capacities. The government of different countries is investing in aerospace leading to a growth in the deployment of nickel-hydrogen batteries in this sector propelling the market growth. Ni/H2 batteries are anticipated to be used as the secondary source of electric power systems for many space applications, such as space stations as they are reliable, and have long cycle expectancy at deep Depths of Discharge (DOD). However, the initial cost of nickel-hydrogen batteries has been a constraint in their widespread adoption. Numerous variables are responsible for nickel hydrogen batteries' high initial cost. These batteries need expensive components, including nickel hydroxide and alloys that absorb hydrogen which results in increasing production costs. Although, as the world is entering into clean technology, the renewable energy sector is rising. The growth of the renewable energy sector is creating an opportunity for the nickel hydrogen batteries market to expand in the field of remote and off-grid solar systems as they possess rechargeable properties.

The global nickel hydrogen batteries are segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, North America is dominating the nickel-hydrogen batteries market during the forecast period. Factors contributing to its dominance include the rising adoption of electric vehicles. Increase in the growth of consumer electronic goods such as laptops, computers, cameras, and other portable devices where these batteries are deployed. The infrastructure activities taking place in North America are also impacting the market growth positively. The Asia Pacific region is expected to be the fastest-growing region during the forecast period, as the countries such as China is having growing demand for electronic goods and vehicles. Moreover, according to government policies implementation of green and sustainable technologies has resulted in a huge potential for the market.

Report Scope of the Nickel Hydrogen Batteries Market:

Segment Covered

The report on global nickel hydrogen batteries market covers segments such as application. On the basis of application, the sub-markets include automotive, electrical, electronics, consumer goods, medical, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Panasonic Holdings Corporation, Primearth EV Energy Co., Ltd., FDK CORPORATION, GP Batteries International Limited, SHENZHEN HIGHPOWER TECHNOLOGY CO.,LTD, VARTA AG, EPT Battery Co., Ltd, Saft, Uniross, and NEXcell BATTERY CO., LTD..

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the nickel hydrogen batteries market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.