Nickel Metal Hydride (NiMH) Battery Market by Battery Type (A, AA, AAA, C, D, 9V), Size, Sales Channel (OEM, Aftermarket), Vertical (Automotive, Consumer Electronics, Healthcare, Industrial, Residential) and Region - Global Forecast to 2028

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 2.9% from 2023 to 2028. NiMH batteries have high energy density, fast charging capability, and enhanced operational safety and reliability. NiMH batteries offer several advantages that make them ideal for portable devices. As the demand for consumer electronics devices continues to grow in the forecast period, the need for NiMH batteries will also continue to grow.

9 V segment is projected to grow at an impressive CAGR during the forecast period

The 9 V NiMH battery provides a nominal voltage of 9 volts. These batteries are normally rectangular and most commonly used in high-drain devices such as music players and digital cameras. In addition, these batteries are also being used in smoke detectors, toys, and microphones. These batteries ensure high capacity, quality, and life span. The shelf life of these batteries is generally multiple years, and in general, their capacity ranges from 190 to 300 mAh. Some companies offering 9 V batteries include Camelion Batterien GmbH (Germany), Tenergy Power (US), and ANSMANN AG (Germany).

Consumer electronics segment is expected to hold a significant share during the forecast period

In the consumer electronics segment, NiMH batteries are used in digital cameras, wireless gaming systems, toys, wireless speakers, electric shavers, baby monitors, cordless phones, remote control devices, headphones, etc. In addition, NiMH batteries are also being used for personal care electronics such as toothbrushes, trimmers, etc. These batteries are highly compatible with various consumer electronics devices as they are available in common battery sizes like AA and AAA. Moreover, these batteries are considered safe battery technology for consumer electronics that helps drive the market for NiMH batteries in this industry.“The market in Europe is expected to grow at steady CAGR during the forecast period

Europe is one of the leading regions in the NiMH battery market

Germany is one of the prominent markets for the demand for NiMH batteries, owing to a strong and growing healthcare sector. The country is home to several top medical equipment manufacturers and exports a large number of devices across the world. NiMH batteries are one of the most used for medical equipment due to their rechargeability, high-energy density, and long operational life, which are necessary for the equipment to run efficiently. NiMH batteries are also widely used in automotive and consumer electronics industries as they provide robustness, low maintenance, and safety. Hence, the industrial sector in Germany and as well as in the European region will also propel the growth of the NiMH battery market.

Breakdown of the profiles of primary participants: 

• By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20% 
• By Designation: C-level Executives - 35%, Directors - 25%, and Others - 40% 
• By Region: North America - 30%, Europe - 25%, Asia Pacific - 40%, and RoW - 5% 

Major players profiled in this report are as follows:  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), GP Batteries International Limited (China) and others.

Research Coverage

In this report, the NiMH battery market has been segmented based on component, battery type, size, sales channel, vertical, and region. Based on components, the market has been segmented into electrodes and electrolytes. Based on battery type, the market has been segmented into A batteries, AA batteries, AAA batteries, C batteries, D batteries, and 9V batteries. The NiMH battery market, based on size, has been segmented into small and large.  Based on sales channels, the market has been segmented into OEM and aftermarket. Based on vertical, the market has been segmented into automotive, consumer electronics, healthcare, industrial, commercial, and residential. The study also forecasts the size of the market in four main regions - North America, Europe, Asia Pacific, and RoW.

Key Benefits of Buying the Report: 

The report provides insights on the following pointers:

•  Analysis of key drivers (  Rising demand for portable consumer electronic devices, Rising adoption in critical industries for emergency power backup applications,  Growing automotive industry), restraints (High cost of NiMH batteries), opportunities ( Growing adoption of NiMH battery in HEVs, Increasing usage of NiMH battery in medical devices, Growing investment in telecommunication industry) and challenges (Availability of other alternative battery technologies) influencing the growth of the NiMH battery market
• Product Development/Innovation: Detailed insights on upcoming products, technologies, research & development activities, industry partnerships, and new product launches in the NiMH battery market 
• Market Development: Comprehensive information about lucrative markets - the report analyses the NiMH battery market across regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
• Market Diversification: Exhaustive information about new products & technologies, untapped geographies, and recent developments in the NiMH battery market 
• Competitive Assessment: In-depth assessment of market share, growth strategies, and product offerings of leading players like Energizer Holdings, Inc. (US), Panasonic Holdings Corporation (Japan), Duracell (US), VARTA AG (Germany),  FDK Corporation (Japan), among others in the NiMH battery market 
• Strategies: The report also helps stakeholders understand the pulse of the NiMH battery market and provides them with information on key market drivers, restraints, challenges, and opportunities.