LONDON, June 14, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Nickel Cadmium Battery Market Report 2023, the market will grow from $1.3 billion in 2022 to $1.4 billion in 2023, at a compound annual growth rate (CAGR) of more than 3%. Further, the global market will reach $1.5 billion in 2027, with a CAGR of 3%. Asia-Pacific held the largest nickel cadmium battery market share in 2022.
The growth of the aviation industry is anticipated to drive the demand for nickel cadmium batteries. The aviation industry encompasses all aspects of air travel, including airlines, aircraft manufacturing, research organizations, and military aviation. Nickel cadmium batteries are commonly used for engine-starting applications in turbine-powered aircraft and aircraft equipped with turbine-type auxiliary power units.
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Major nickel cadmium battery companies are Alcad AB, EnerSys, GS Yuasa Corporation, HBL Power Systems Limited, Saft Groupe SAS, Cell-Con Inc., Interberg Batteries Ltd., HOPPECKE Batterien GmbH & Co KG, Germarel GmbH, JiangMen JJJ Battery Co. Ltd., Statron Ltd., Henan Xintaihang Power Source Co. Ltd., and Tenergy Corporation.
Product innovation has emerged as a key trend in the nickel cadmium battery market, as major market players focus on gaining a competitive advantage through innovative solutions.
For instance, Alcad AB, a Swedish manufacturer of nickel cadmium batteries, which introduced the slim range of batteries in November 2020 offer optimal weight and storage for operation backup applications and exhibit higher reliability, longer lifespan, and a 30% weight reduction compared to conventional valve-regulated lead-acid (VRLA) batteries. These batteries feature improved energy density, a wide voltage window for charging, excellent performance across a broad temperature range (-20 to +50 °C), and reduced total cost of ownership (TCO). The Slim batteries utilize Foam/Plate Bonded Electrode (PBE) technology, enabling the production of thin electrode plates that are tightly stacked together to maximize space efficiency.
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The global nickel cadmium battery market is segmented as -
1) By Type: C Batteries, D Batteries, A Batteries, AA Batteries, AAA Batteries, 9 V Batteries
2) By Block Battery Construction: L Range, M Range, H Range
3) By Cell Type: Vented Cells, Sealed Cells
4) By End-User: Aerospace and Defense, Automotive and Transportation, Consumer Electronics, Healthcare, Industrial, Marine, Other End-Users
The nickel cadmium battery market report offers valuable insights into the global market, highlighting its growth prospects, emerging trends, and major market players. It serves as a crucial resource for industry stakeholders, investors, and decision-makers seeking to understand the dynamics of the market and make informed strategic decisions. The report's findings underscore the significance of the nickel cadmium battery market and its role in powering various sectors, particularly the aviation industry, while emphasizing the need for continued innovation and collaboration to unlock its full potential in the years to come.
Nickel Cadmium Battery Global Market Report 2023 by The Business Research Company provides insights on the nickel cadmium battery market size, nickel cadmium battery market segments, nickel cadmium battery market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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