Nickel-metal Hydride Battery Market – Growth Analysis and Forecast | Technavio

LONDON–(BUSINESS WIRE)–#Energy—Technavio
research analysts have forecasted the global
nickel-metal hydride(Ni-MH) battery market to decline at a CAGR
of approximately 3% during the period 2018-2022, according to
their latest report.

One of the prominent trends being witnessed in the market is the
improvements to nickel-based materials used in automotive Ni-MH
batteries. Ni-MH batteries have been used in hybrid vehicles for decades
because of their various advantages in cars, which includes durability
and safety over Li-ion batteries. Ni-MH batteries do not use flammable
liquids, as Li-ion batteries, and thus they are inherently safer.

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In this report, Technavio analysts highlight the growing demand for
Ni-MH batteries in the automotive sector as a key factor contributing to
the growth of the global nickel-metal
hydride battery market:

Growing demand for Ni-MH batteries in the
automotive sector

Ni-MH batteries are increasingly being used in hybrid vehicles such as
HEVs and PHEVs. Hybrid vehicles represent a small share of the passenger
vehicle market, but the sector is growing rapidly. At present, most of
the hybrid vehicles in the market use Ni-MH batteries. Ni-MH batteries
are also used in other automotive applications such as emergency
call/telematics system

According to a senior analyst at Technavio for energy
storage, ÔÇ£The automotive industry is one of the leading users
of power tools. The rise in global automotive sales presents an
important source of growth for the power tools market. The increase in
automotive sales is being driven by several factors such as increasing
vehicle demand in developing countries, increased demand for cross-overs
and trucks, and increasing demand for hybrid vehicles and EVs.ÔÇØ

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Global nickel-metal hydride battery market
segmentation

This market research report segments the global nickel-metal
hydride battery market into the following applications
(automotive and industrial) and key regions (the Americas, APAC, and
EMEA). It offers an analysis of the prominent factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

By application, the automotive segment held the largest market share in
2017, accounting for more than 70% of the market. The market share for
this application is expected to increase by nearly 2% by 2022.

The Americas dominated the global nickel-metal hydride battery market in
2017. It accounted for a market share of over 43%. This region is
anticipated to post significant growth during the forecast period.

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