Nickel Metal Hydride Market Report 2026

The nickel metal hydride market size has grown steadily in recent years. It will grow from $3.52 billion in 2025 to $3.67 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increasing demand for portable electronics, rise in hybrid vehicles adoption, advancements in battery chemistry, government incentives for clean energy, consumer preference for rechargeable batteries.

The nickel metal hydride market size is expected to see strong growth in the next few years. It will grow to $4.5 billion in 2030 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to expansion of electric vehicle market, growth in renewable energy storage, innovations in Ni-MH recycling, integration with smart mobility systems, rise in industrial automation applications. Major trends in the forecast period include high energy density battery development, long-life cycle optimization, environmentally friendly battery solutions, fast charging & discharging technology, portable & compact battery designs.

The growing energy sector is expected to drive the expansion of the Nickel Metal Hydride (NIMH) market going forward. The “energy sector” encompasses the broad range of industries involved in producing, distributing, and consuming energy, including power generation, renewables, battery storage, and electric mobility - all of which are experiencing rapid growth and transformation. As this energy ecosystem evolves, it increases the demand for battery technologies and energy storage solutions, thereby supporting greater adoption of NIMH cells, which rely on nickel-based chemistries. For instance, in June 2025, according to the Department of Climate Change, Energy, the Environment and Water, an Australia-based government administration, Australia generated approximately 273,106 GWh of electricity in 2023, rising by 3% in 2024 to an estimated 283,920 GWh. Therefore, the expanding energy sector is driving the growth of the Nickel Metal Hydride (NIMH) market.

Major companies operating in the nickel metal hydride market are focusing on developing advanced modular battery systems to improve efficiency, safety, and sustainability in railway operations. Modular battery systems are designed with compact, scalable architectures that allow flexible mounting on vehicles while enhancing performance and overall operational reliability. For example, in September 2024, Panasonic Energy, a Japan-based company, introduced its new nickel-metal hydride battery system for railway vehicles. The system offers a long service life, reducing downtime and limiting the need for frequent replacements. It is maintenance-free and equipped with a remote monitoring function for easy diagnostics and continuous performance tracking. The system eliminates electrolyte refilling and can replace existing nickel-cadmium systems when necessary. Additionally, it is not categorized as class 9 dangerous goods and contains no environmentally harmful substances such as lead or cadmium, simplifying logistics and supporting sustainability. Panasonic Energy highlights that this solution enhances performance, safety, and environmental impact across railway operations.

In July 2025, Toyota, a Japan-based manufacturer of nickel metal hydride (NiMH) batteries, partnered with Shenergy to extend the lifespan of Toyota’s NiMH batteries for sustainable energy applications. The collaboration aims to explore secondary use of Toyota’s NiMH batteries in energy storage, focusing on power frequency regulation and broader energy management solutions. Shenergy is a China-based provider of energy solutions specializing in electricity generation, energy storage technologies, and grid infrastructure services.

Major companies operating in the nickel metal hydride market are Duracell, Energizer Holdings Inc., Panasonic Corporation, Primearth EV Energy Co. Ltd., GP Batteries International Limited, Rayovac, VARTA AG, Sanyo Electric Co. Ltd., Hitachi Maxell Ltd., Saft Group SAS, GS Yuasa Corporation, Samsung SDI Co. Ltd., Toshiba Corporation, NEXcell Battery Co Ltd, Uniross Batteries Corporation, Supreme Batteries Pvt. Ltd., Tenergy Corporation, Ultralife Corporation, Highpower International Inc., EVE Energy Co. Ltd., Hunan Soundon New Energy Co. Ltd., Hunan Corun New Energy Co. Ltd., Power-Sonic Corporation, Cell-Con, Dantona Industries Inc., Harding Energy Inc., Nippon Electric Co. Ltd., Build Your Dreams Company Limited.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the nickel metal hydride battery market by increasing import costs and affecting the supply chain of raw materials and battery components. The automotive and consumer electronics segments, particularly in regions like North America and Europe, are most affected due to reliance on imports. While tariffs have led to higher production costs, they have also encouraged local manufacturing and investment in domestic production capabilities, creating opportunities for regional supply chain resilience.

The nickel metal hydride batteries market research report is one of a series of new reports that provides nickel metal hydride batteries market statistics, including nickel metal hydride batteries industry global market size, regional shares, competitors with a nickel metal hydride batteries market share, detailed nickel metal hydride batteries market segments, market trends and opportunities, and any further data you may need to thrive in the nickel metal hydride batteries industry. This nickel metal hydride batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A nickel metal hydride (NiMH) battery is a type of rechargeable energy storage battery. It operates through electrochemical charge and discharge reactions between a positive and a negative electrode. NiMH batteries are recognized for their high energy density, longer lifespan, and lower environmental impact. They are capable of storing more energy per unit volume compared to other battery types.

Ni-MH batteries come in two main types: small-sized Ni-MH batteries for consumer electronics and large-sized Ni-MH batteries for hybrid electric vehicles (HEVs). Small-sized Ni-MH batteries are rechargeable and are commonly used in various consumer electronics such as laptops, computers, cameras, and mobile phones. On the other hand, large-sized Ni-MH batteries are employed in automotive applications, cordless phones, dust collectors, personal care devices, lighting tools, and electric tools. These batteries are typically distributed through original equipment manufacturer (OEM) and aftermarket sales channels.Asia-Pacific was the largest region in the nickel metal hydride batteries market in 2025. North America is the second-largest region in the nickel metal hydride batteries market. The regions covered in the nickel metal hydride market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the nickel metal hydride market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The nickel metal hydride batteries market consists of sales of small-sized Ni-MH batteries for consumer electronics and large-sized Ni-MH batteries for HEV. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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