Nickel Metal Hydride Batteries Market Report 2020 - Market Size to Decline from $480M in 2019 to $430M by 2023
DUBLIN, Feb. 13, 2020 /PRNewswire/ -- The "Nickel Metal Hydride Batteries Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider nickel metal hydride batteries market, and compares it with other markets.
The global nickel metal hydride batteries market was worth $0.48 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of -3% and reach $0.43 billion by 2023.
The nickel metal hydride market covered in this report is segmented by type into small-sized Ni-MH battery for consumer electronics, large-sized Ni-MH battery for HEV. It is also segmented by application into automotive, cordless phone, dust collector, personal care, lighting tools, electric tool.
Nickel metal hydride batteries are increasingly being used in hybrid vehicles. The wide temperature range between -30 C to + 75 C and rapid charging capacity made these batteries ideal for the automotive sector. NiMH batteries can handle the high power levels which is essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world's passenger vehicles. The increasing demand for electric vehicles will positively impact the NiMH battery market.
Regulations introduced by various governments for the rechargeable batteries manufacturing hindered the growth of the market. The battery manufacturing process generates wastewater and releases pollutants such as cadmium, cobalt, copper, cyanide, iron, lead, manganese, mercury, nickel and zinc. The manufacturers are usually advised, unless mandated to reduce the amount of hazardous substances released in the environment. For example, The USA Environmental Protection Agency (EPA) formulated the Battery Manufacturing Effluent Guidelines and Standards to regulate such pollutants.
Recent developments in NiMH battery manufacturing has improved the lifespan of nickel-metal hydride batteries. The electropositivity of the A-elements makes them easy to be corroded in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve reaction kinetics and corrosion stability of conventional NiMH batteries. In December 2018, Researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life.
In January 2020, German battery manufacturer, VARTA AG acquired the US based Energizer Holdings, Inc.'s subsidiary, VARTA Consumer Batteries for $401 million. The acquisition will likely strengthen VARTA AG's battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally. The company was founded in 2002 and is headquartered in Ellwangen, Germany.
Major players in the market are Duracell, Energizer Holdings, Panasonic, Primearth EV Energy, Spectrum Brands, GP Batteries International, Panasonic, Spectrum Brands (Rayovac), Duracell, Aeg Powertools.
Key Topics Covered
1. Executive Summary
2. Nickel Metal Hydride Batteries Market Characteristics
3. Nickel Metal Hydride Batteries Market Size And Growth
3.1. Global Nickel Metal Hydride Batteries Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Nickel Metal Hydride Batteries Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Nickel Metal Hydride Batteries Market Segmentation
4.1. Global Nickel Metal Hydride Batteries Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Small-Sized Ni-MH Battery for Consumer Electronics
- Large-Sized Ni-MH Battery for HEV
4.2. Global Nickel Metal Hydride Batteries Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Automotive
- Cordless Phone
- Dust Collector
- Personal Care
- Lighting Tools
- Electric Tool
5. Nickel Metal Hydride Batteries Market Regional And Country Analysis
5.1. Global Nickel Metal Hydride Batteries Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Nickel Metal Hydride Batteries Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
- Duracell
- Energizer Holdings
- Panasonic
- Primearth EV Energy
- Spectrum Brands
- GP Batteries International
- Panasonic
- Spectrum Brands (Rayovac)
- Duracell
- AEG Powertools
- Cell-Con
- Harding Energy
- Johnson Controls
- BASF
- Power-Sonic Corporation
- Supreme Batteries Pvt. Ltd.
- Rayovac
- Shenzen Nova
- Spectrum Brands
- Taurac
- Uniross
- Tianjin Peace Bay Company
- The Shenyang Sanpu Company
For more information about this report visit https://www.researchandmarkets.com/r/tyse7r
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article