Nickel Hydrogen Batteries Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global nickel hydrogen batteries market provides qualitative and quantitative analysis for the period from 2021-2030. 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. The study on nickel hydrogen batteries market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The market for nickel hydrogen batteries is experiencing substantial growth due to the rising demand for electronic goods and electric vehicles driven by technological improvements, rising fuel prices, and rising disposable income. These batteries offer several benefits such as high energy density, longer lifespan, and enhanced safety, which is optimal for powering numerous electronic devices. According to the International Energy Agency, “The sale of electric cars rose from 4% in 2020 to 14% in 2022”. Additionally, the government is investing in the aerospace sector which leads to a rise in increasing the demand for nickel hydrogen batteries.

The global nickel hydrogen batteries market is bifurcated By Application. By Application, the segment is further bifurcated into (Automotive, Infrastructure Industry, Electronics, Consumer Goods, Medical, and Others). The automotive segment is anticipated to dominate the market growth during the forecast period. Due to the rising demand for Electric Vehicles (EVs) and the requirement for innovative battery technologies that offer increased performance, safety, and energy density, nickel-hydrogen batteries have been gaining popularity in the automotive industry. While lithium-ion batteries have dominated the market for Electric Vehicles (EVs), nickel-hydrogen batteries have a few benefits that make them appealing for use in the automotive industry in the future. Better thermal stability, a longer lifespan, and possibly lower costs are a few of these benefits.

The global nickel hydrogen batteries Market is segmented into Asia Pacific, North America, Europe, the Middle East & and Africa, and South America. North America is predicted to be the fastest-growing region within the global market share. North America region is dominating the market due to its expanding use in hybrid electric vehicles, telecom, and medical equipment. Additionally, market growth is anticipated to be fueled by the rising popularity of consumer electronics in this region. According to the Bureau of Transportation Statics, “Domestic car sales which include passenger car and Commercial vehicles grew from 11,571 thousand units to 11,831 thousand units from 2020 to 2021 respectively”.

Report Findings

1) Drivers

• Growing demand for electronics goods boots the nickel hydrogen battery market.
• Due to rapid urbanization, the demand for passenger and commercial vehicles has surged up, thus the demand for nickel hydrogen batteries is affected positively.

2) Restraints

• An expensive initial cost of nickel hydrogen batteries has been a constraint in their widespread adoption.

3) Opportunities

• The growth of the renewable energy sector creates an opportunity for nickel hydrogen battery to expand.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents are approached include

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global nickel hydrogen batteries market is segmented on the basis of application.

The Global Nickel Hydrogen Batteries market by Application

• Automotive
• Electrical
• Electronics
• Consumer Goods
• Medical
• Others

Company Profiles

The companies covered in the report include

• 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
• NEXcell BATTERY CO., LTD.

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the nickel hydrogen batteries market.
2. Complete coverage of all the segments in the nickel hydrogen batteries market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global nickel hydrogen batteries market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.