Nickel-metal hydride batteries are specific type of rechargeable batteries. These batteries are manufactured by using nickel and cadmium and are produced in standardized cylindrical forms. Nickel metal hydride batteries are used in several gadgets such as cameras and other electrical appliances and also used in electric vehicles.
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has severely affected the global nickel-metal hydride battery market.
- China, being the epicenter of the pandemic was completely shutdown which resulted in an absolute halt in the manufacturing activities and the imports and exports as well. Since, China is a major market for battery electrolytes, the outbreak of the pandemic had a huge impact on the nickel-metal hydride battery market.
- Due to the economic downfall caused by this pandemic, the demand for electronics and automobiles decreased dramatically. This resulted in a decrease in demand for batteries in these major end-user industries, thereby affecting the growth of the nickel-metal hydride battery market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The rapid industrialization and technological advancements across the globe have led to the increase in demand for reliable sources of energy in the market. The rapid growth of the electrical and electronic sector acts as a major driver for the growth of the global nickel-metal hydride batteries market. The chemical and mechanical stability of these batteries along with their compact shape make them a popular choice for usage in several electrical devices. Moreover, these batteries are also used in the electronic vehicles and hybrid cars, which add to the rise in demand for nickel-metal hydride batteries in the market. Several major companies are investing in the research and development to improve the reaction kinetics and the stability of these batteries. The German battery manufacturer VARTA AG Acquired Energizer Holdings Inc., which is a U.S. based company to expand its portfolio in the market. However, stringent regulations on the usage of cadmium along with the presence of alternatives such as the lithium-ion batteries limit the market growth.
The Asia-Pacific region holds a major share of the global nickel-metal hydride batteries market due to the presence of the massive electronics industry in the developing nations such as India and China. The market in Europe and North America is also expected to witness lucrative growth because of the growing popularity of electric vehicles in the developed economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global nickel-metal hydride battery industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global nickel-metal hydride battery market share.
- The current market is quantitatively analyzed to highlight the global nickel-metal hydride battery market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global nickel-metal hydride battery market analysis based on competitive intensity and how the competition will take shape in coming years.
Nickel-Metal Hydride Battery Market Report Highlights
By Industry Vertical
Key Market Players
Aeg Powertools., Panasonic, Duracell, Primearth EV Energy, Duracell, Energizer Holdings, GP Batteries International, Spectrum Brands, Spectrum Brands (Rayovac)