Nickel Metal Hydride (NiMH) Battery Market worth $2.7 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 27, 2023 /PRNewswire/ --The global nickel metal hydride (NiMH) battery market size is expected to grow from USD 2.4 billion in 2023 to USD 2.7 billion by 2028, at a CAGR of 3.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. The NiMH batteries are the most common type of rechargeable batteries which are being used in small and portable consumer and medical devices. NiMH batteries offer the high performance and long battery life that such devices require. Hence, the demand for NiMH batteries is expected to grow in the consumer electronics and healthcare sectors.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=128735977

Browse in-depth TOC on "Nickel Metal Hydride (NiMH) Battery Market" 
120 – Tables
50 – Figures
220 – Pages

Nickel Metal Hydride (NiMH) Battery Market Report Scope:

The market for the AAA battery segment is expected to grow at a significant CAGR during the forecast period.

The AAA or triple A batteries are more compact and smaller than AA batteries. The NiMH rechargeable AAA batteries have a nominal voltage of 1.2 V and a typical capacity range of 170–4500 mAh and above. These batteries can be used as a single cell or multiple cells, depending on their application. They come in two variants; one is developed for low-drain devices, and the other is designed for powering high-drain devices. They are used in small portable electronics such as flashlights, toys, game consoles, digital cameras, medical equipment, etc. There is an increasing trend of compact and small-sized electronics, due to which the demand for AAA batteries is anticipated to grow in the coming years.

The healthcare application is projected to grow at an impressive CAGR from 2023 to 2028.

Healthcare applications of NiMH batteries include small and portable medical devices and medical systems. Nickel metal hydride batteries are being used in medical equipment as they offer low internal resistance, sustainability to shock and vibration, and operational reliability. These batteries are rechargeable and provide reliable power support to medical devices such as pulse oximeters, ECG machines, patient monitors, defibrillators, syringe pumps, and others. NiMH batteries offer good energy density and high cycle life. Due to these features, these batteries are widely adopted in the healthcare sector worldwide.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=128735977

North America is expected to hold a significant share of the NiMH battery market during the forecast period.

The North American nickel metal hydride battery industry is further segmented into the US, Canada, and Mexico. In this region, the US captures the largest market share of the NiMH battery market. These batteries are utilized in various verticals ranging from automotive, consumer electronics, healthcare, and industrial. The region is a major manufacturing hub for various types of electric vehicles, which is a potential market for NiMH batteries. In addition, the developing economy of Mexico is strengthening its manufacturing and healthcare infrastructure, which will further drive the NiMH battery market in the region. Moreover, the region has well-established recycling laws for the proper recycling and reuse of the NiMH battery, which drives the battery market in the region.

The major players in the nickel metal hydride battery companies include Energizer Holdings, Inc. (US), Panasonic Holdings Corporation (Japan), Duracell (US), VARTA AG (Germany), FDK Corporation (Japan), BYD Company Limited (China), Primearth EV Energy Co., Ltd. (Japan), and GP Batteries International Limited (China).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=128735977

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Battery Technology Market by Lithium-ion Type (Lithium Cobalt Oxide, Li-Iron Phosphate), Lead-Acid Type (Flooded, Valve Regulated), Nickel Metal Hydride, Flow, Metal-Air, Nickel-Cadmium & Solid State Battery), Vertical, Region - Global Forecast to 2027

Nickel Cadmium Battery Market by Type (C, D, A, AA, AAA, 9 V), Block Battery Construction (L Range, M Range, H Range), End-user (Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Industrial, Marine) and Region - Global Forecast to 2027

Lithium-ion Battery Market by Type (Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO)), Capacity, Voltage, Industry (Consumer Electronics, Automotive, Aerospace) and Region - Global Forecast to 2031

Metal-air Battery Market by Metal (Zinc, Lithium, Aluminum, Iron), Voltage, Type (Primary, Secondary), Application (Electric Vehicles, Military Electronics, Electronic Devices, Stationary Power) and Region - Global Forecast to 2027

Lead Acid Battery Market by Technology (Basic, Advanced Lead Acid), Type (Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities, Transportation, Industrial, Commercial & Residential), and Region - Global Forecast to 2024

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/nickel-metal-hydride-nimh-battery-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/nickel-metal-hydride-nimh-battery.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets