Nickel Cadmium Battery Market Analysis by Block Battery Construction (L-Range, M-Range, and H-Range); by Cell Type (Vented Cells, and Sealed Cells); and by End User (Aerospace & Defense, Consumer Electronics, Healthcare, Automotive, Industrial, and Marine) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4905 | Published Date: May 02, 2023
Nickel Cadmium Battery Market size is estimated to reach ~USD 2 Billion by the end of 2035 by growing at a CAGR of ~3% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of nickel cadmium battery was ~USD 1 Billion. The growth of the market can be attributed to the increasing demand for electric vehicles. Nickel cadmium (NiCd) batteries are widely used in electric vehicles owing to their high discharge rates, long cycle, and reliability. The usage of EV batteries in India is expected to reach over 15 GWh by 2025 and nearly 60 GWh by 2030. Investments in the cell manufacturing business of India are expected to exceed USD 9 billion by 2030.
In addition to these, factors that are believed to fuel the market growth of nickel cadmium batteries include the rising sales of portable electronics, such as smartphones, laptops, wearables, tablets, and others. Moreover, nickel cadmium batteries are frequently used in industrial and commercial applications such as, power backup supplies, power tools, and emergency lighting. As these industries continue to grow and evolve, the demand for reliable and cost-effective batteries is also expected to increase. On the other hand, technological advancements in batteries are also expected to drive the market growth. As these advancements is likely to increase the application area of nickel cadmium batteries.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~3% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2035) |
~ USD 2 Billion |
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Regional Scope |
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Growth Drivers
Challenge
The global nickel cadmium battery market is segmented and analyzed for demand and supply by end user into aerospace & defense, consumer electronics, healthcare, automotive, industrial, and marine. Out of the six end users of nickel cadmium battery, the automotive segment is estimated to gain the largest market share of about ~30% in the year 2035. The growth of the segment can be attributed to the rising transition to electric vehicle. Passenger electric vehicles are becoming increasingly popular in the world. Around 13% of new vehicles delivered in 2022 were electric. Global sales nearly doubled to 6.6 million in comparison to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Electric vehicle sales climbed by 4 percentage points in 2021. According to the Net Zero Emissions by 2050 Scenario, there are likely to be over 300 million electric automobiles on the road by 2030, with electric cars accounting for 60% of new car sales.
The global market is also segmented and analyzed for demand and supply by block battery construction into L-range, M-range, and H-range. Amongst these three segments, the L-range segment is expected to garner a significant share of around ~46% in the year 2035. The growth of the segment is primarily attributed to the higher reliability on the L-range nickel cadmium batteries. These batteries are specially designed for the application, where a power supply is required for a longer period. Owing to the supply of low currents, the discharge period of these batteries is long. Hence the reliability of these batteries for longer supply is high. There are various applications of L-range batteries, such as railway signaling, emergency braking g system, emergency lighting, PV systems, fire alarms, DC instrumentation, telecoms, and others. The capacity of L-range nickel cadmium batteries depends on the manufacturer, and the common range resides between 8 Ah to 1,680 Ah. Therefore, all these factors are anticipated to boost the growth of the segment in the market.
Our in-depth analysis of the global nickel cadmium battery market includes the following segments:
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By Cell Type |
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By Block Battery Construction |
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By End User |
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The market share of nickel cadmium battery in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the rising investment in boosting the production of batteries. The Japanese commission suggested USD 24 billion in public and private sector initiatives. The government intends to use this money to expand the supply chain and manufacture of batteries by hiring 30,000 suitable individuals. On the other hand, the rising demand for electric vehicle is expected to drive the market growth in the region. EV sales have increased by more than 2,200 percent in India in the last three years, with over 4,42,901 electric vehicles sold in fiscal year 2023, as opposed to around 19,100 in fiscal year 2020. Moreover, with 100% FDI allowed, new production centers, and an enhanced push to improve charging infrastructure, India's electric car industry is picking up speed.
The North America nickel cadmium battery market is estimated to be the second largest, registering a share of about ~26% by the end of 2035. The growth of the market can be attributed majorly to the rising instances of power outages. According to the researchers, outages have increased by 64% in the last decade compared to the preceding decade in the United States. From 2000 to 2021, weather-related events caused 83% of all reported power outages, ranging from drought-fueled wildfires to severe storms like tornadoes and hurricanes, many of which will only exacerbate as the earth's temperature increases. Moreover, several devastating storms in 2021 strained the electricity grids in the United States. Households lost electricity for an average of seven hours and twenty minutes, with severe weather events such as hurricanes, wildfires, and snowstorms accounting for more than five of those hours, or almost seventy-two percent.
Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the rising demand for consumer electronics. Technological breakthroughs, altering customer preferences, and an increased need for cost-effective, simple-to-use, high-performance devices are driving up demand for consumer electronics. Besides this, surging production of batteries is also expected to augment the market growth in the region. By 2030, Europe's battery cell production capacity will have increased to 1.5 TWh. By 2022, Europe is predicted to have a battery cell production capacity of 124 GWh.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Payel Roy, Dhruv Bhatia
Ans: Increasing demand for electric vehicles, rising need for power backup, and rise in the number of aircrafts are the major factors driving the market growth.
Ans: The market size of nickel cadmium battery is anticipated to attain a CAGR of ~3% over the forecast period, i.e., 2023 – 2035.
Ans: Rising competition from other advanced batteries and negative impact on the environment are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are ALCAD A.B. Battery Specialties, Inc., BYD Motors, Inc., Cell-Con, Inc., Energizer Holdings, Inc., Glob Tek, Inc., GP Batteries International Ltd., GS Yuasa International Ltd., Power-Sonic Corp., and Saft Groupe SAS
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by cell type, block battery construction, end user, and by region.
Ans: The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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