Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The latest market research report on the Nickel Metal Hydride (NiMH) battery industry has been released, delivering a comprehensive analysis of market dynamics, trends, and forecasts for key segments and regions. The NiMH battery market, poised for growth from USD 2.4 billion in 2023 to an expected USD 2.7 billion by 2028, is undergoing a significant transformation thanks to technological advancements and expanding applications.
9V Battery Segment Set to Experience Notable Growth
The report highlights the 9V battery segment as a substantial growth driver in the global market, due to its broad utilization in high-drain devices linked with the consumer electronics and industrial sectors. Known for their strong energy output and reliability, 9V batteries are becoming an increasingly important component across multiple applications.
Consumer Electronics Hold Significant Market Share
Within the sizeable consumer electronics sector, NiMH batteries are essential for powering an array of devices, such as wireless systems, portable audio equipment, and personal care products. Their compatibility with various device batteries like AA and AAA, combined with safe technology, acts as a major catalyst in the market.
Europe's Market Growth Fueled by Healthcare and Automotive Sectors- A Close Look at the European Scenario
The European market is forecasted to grow steadily, with Germany being a major hub due to its robust healthcare sector and the pivotal role of NiMH batteries in medical equipment. Additionally, the automotive and consumer electronics industries in Europe considerably contribute to the demand, bolstering the region's market position.
Industry stakeholder profiles disclose a diverse landscape:
- By Company Type - A mix of Tier 1 (35%), Tier 2 (45%), and Tier 3 (20%) companies
- By Designation - Including C-level Executives (35%), Directors (25%), and Other professionals (40%)
- By Region - Featuring a wide geographical representation with North America (30%), Europe (25%), Asia Pacific (40%), and others (5%)
The report delves into multiple market facets, segregating data by component, battery type, size, sales channel, and vertical. It furnishes stakeholders with an understanding of motivational factors such as the increased demand for portable consumer electronics and the growing necessity of emergency power backup in critical industries. The document serves as an indispensable tool for grasping market nuances and steering strategic business decisions.
In summary, the NiMH battery market analysis offers a 360-degree view of the industry, scrutinizing all angles from product innovation to competitive assessments. Key market players like Energy Storage Corporations and Electronics Giants are positioned to navigate the market with informed strategies, backed by insights on drivers, opportunities, and emerging trends that are shaping the future of battery technologies and energy storage solutions.
The dependable energy solutions provided by NiMH technology play an ever-increasing role across various verticals, making this market report an essential read for industry participants looking to take advantage of the potentials forecasted through 2028.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 179 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.4 Billion |
| Forecasted Market Value (USD) by 2028 | $2.7 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | Global |
Companies Mentioned
- Ansmann Ag
- Arts Energy
- Byd Company Limited
- Camelion Batterien GmbH
- Corun Usa
- Duracell Inc.
- Energizer Holdings, Inc.
- FDK Corporation
- GP Batteries International Limited
- Harding Energy, Inc.
- Jauch Quartz GmbH
- Nexcell Battery Company
- Panasonic Holdings Corporation
- Primearth Ev Energy Co. Ltd.
- Shenzhen Highpower Technology Co. Ltd.
- Shenzhen Ept Battery Co. Ltd.
- Shenzhen Lexel Battery Co. Ltd.
- Tenergy Corporation
- Uniross
- Varta Ag
For more information about this report visit https://www.researchandmarkets.com/r/86811b
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