Nickel Cadmium Battery Market Size

Nickel Cadmium Battery Market size was valued at USD 1.04 Billion in 2023 and is expected to cross USD 1.62 Billion by the end of 2036, expanding at more than 3.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of nickel cadmium battery is estimated at USD 1.07 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 tools, and emergency lighting.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of nickel cadmium battery is estimated at USD 1.07 Billion.

The nickel cadmium battery market size was valued at USD 1.04 Billion in 2023 and is expected to cross USD 1.62 Billion by the end of 2036, expanding at more than 3.5% CAGR during the forecast period i.e., between 2024-2036. The growing demand for electric vehicles, expanding infrastructure of data centers are some of the major factors anticipated to drive the market growth.

North America industry is estimated to grow substantially by 2036, due to rising instances of power outages in the region.

ALCAD A.B., Battery Specialties, Inc., BYD Motors, Inc., Cell-Con, Inc., Energizer Holdings, Inc., Glob Tek, Inc., GP Batteries International Ltd., GS Yuasa Corporation, Power-Sonic Corp., Saft Groupe SAS

Nickel Cadmium Battery Market Size