Nickel Zinc Rechargeable Battery Market Size & Share Report, 2030

 


Nickel Zinc Rechargeable Battery Market Growth & Trends

The global nickel zinc rechargeable battery market size is anticipated to reach USD 59.18 million by 2030 and is projected to grow at a CAGR of 24.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed rising adoption of these batteries across various applications, including automobiles, uninterruptible power supplies (UPS), data centers, and national defense. These batteries offer several advantages over others, such as high energy density, long cycle life, and environmental friendliness, making them an attractive choice for a wide range of industries.

Based on type, the market is segmented into 5AA battery, AAA battery, and others. Of all, AAA battery holds a major market share. The high share is on account of the widespread use of AAA batteries in consumer electronics, such as remote controls and portable devices, as well as its high energy density and longer lifespan compared to traditional battery types, which further aids its consumption.

Based on application, the UPS segment accounted for the largest revenue share, in 2023 of the global market. This segment's growth can be attributed to the increasing need for reliable backup power solutions in data centers, commercial establishments, and industrial facilities, driven by rising digitalization and the demand for uninterrupted power supply. In June 2024, Actis, announced launch of Epoch Digital a new integrated data center platform in Asia with the current portfolio of c.200 MW of IT capacity across three projects.

Asia Pacific held the largest revenue share of the overall market in 2023 owing to substantial investments in renewable energy and electric vehicle infrastructure, advancements in battery manufacturing technologies, and supportive government policies promoting clean energy. The region's significant demand for consumer electronics and the presence of major battery manufacturers have also contributed to this dominant market position. Favorable policies in countries, such as China, Japan, and South Korea, are promoting investments in nickel-zinc rechargeable battery infrastructure development projects.

The competitive rivalry in the global market is high as major market players concentrate on strengthening their relationships with system installers and opt for collaborations and mergers to enhance their presence in the value chain and expand their geographical presence. For instance, in April 2023, ZincFive Inc. collaborated with KCE to develop a microgrid solution using nickel-zinc battery systems paired with hydrogen and EV charging.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/nickel-zinc-rechargeable-battery-market-report

Nickel Zinc Rechargeable Battery Market Report Highlights

  • Based on type, the 5AA battery segment is expected to register a CAGR of 29.8% over the forecast period, on account of growing demand in consumer electronics and automotive industries
  • Based on application, the UPS segment led the market with the largest revenue share of 30.60% in 2023. Increasing adoption of electric vehicles is driving the need for batteries
  • Europe is anticipated to register at a significant CAGR of 26.2% over the forecast period. Rapid adoption of electric vehicles coupled with developments for data centers is propelling the regional growth
  • Collaboration is one of the key strategies opted by market players. For instance, in October 2023, ZincFive announced its agreement to license its nickel-zinc-based UPS technology to Econolite

Nickel Zinc Rechargeable Battery Market Segmentation

Grand View Research has segmented the global nickel zinc rechargeable battery market report based on type, application, and region:

Nickel Zinc Rechargeable Battery Type Outlook (Revenue, USD Million, Volume, Thousand Units, 2018 - 2030)

  • 5AA Battery
  • AAA Battery
  • Others

Nickel Zinc Rechargeable Battery Application Outlook (Revenue, USD Million, Volume, Thousand Units, 2018 - 2030)

  • Automobile
  • UPS
  • Data Center
  • National Defense
  • Others

Nickel Zinc Rechargeable Battery Regional Outlook (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

List of Key Players in Nickel Zinc Rechargeable Battery Market

  • ZincFive, Inc.
  • Batterypkcell
  • BetterPower Battery Co., Ltd.
  • ANSMANN AG
  • Turnigy Power Systems
  • EBLOfficial
  • ZAF Energy Systems
  • EverZinc Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/nickel-zinc-rechargeable-battery-market-report

Comments

Post a Comment

Popular posts from this blog

Virtual Clinical Trials Market Size Reaches USD 12.9 Billion By 2030

Image
  The global  virtual clinical trials market  size is expected to reach USD 12.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The COVID-19 pandemic has significantly impacted the market. The growing need for patient diversity clubbed with enhanced data collection in clinical trials is boosting the market growth. There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of clinical trials. Virtual clinical trials eliminate challenges posed by traditional clinical trials for example delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a clinical trial that uses mobile technology. The market is recovering at a significant pace after the pandemic as it offers various benefits to pati
Read more

Industrial Refrigeration Systems Market Size, Share & Trends Report, 2030

Image
  Industrial Refrigeration Systems Market Growth & Trends The global  industrial refrigeration systems market  size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems. Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower
Read more

U.S. Virtual Visits Market Size To Reach USD 105.5Bn By 2030

Image
  U.S. Virtual Visits Market Growth & Trends The  U.S. virtual visits market  size is expected to reach USD 105.5 billion by 2030, expanding at a CAGR of 29.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for telehealth and teleconsultation and introduction of new and advanced technologies has positively impacted the growth of the market in the U.S. Increasing penetration of smartphones and assisted technologies has also been a key factor for the fast growth of the market. In the service segment, cold and flu management had the largest market share in 2022. The major factor behind the growth of the market is the growing demand for teleconsultations for patients for treatment of common conditions like cold and flu to reduce the chances of contracting additional illnesses due to hospital visits. The availability of specialists through telehealth and teleconsultations, even in remote areas has brought about a revolution in the virtual
Read more