CHICAGO, Oct. 12, 2022 /PRNewswire/ — Nickel cadmium battery market size is projected to grow from USD 1.4 Billion in 2022 to USD 1.6 Billion by 2027 at CAGR of 2.8%, during the forecast period according to a new report by MarketsandMarkets™. The nickel cadmium battery is a type of rechargeable battery, which uses nickel and cadmium as electrodes. The battery is abbreviated as Ni-Cd and is available in different sizes and shapes. The nickel cadmium battery is used in a wide range of applications in various industries, which include aerospace and defense, automotive & transportation, consumer electronics, healthcare, industrial, and marine.
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The market for M range batteries is expected to grow at the highest CAGR during the forecast period.
The M Range nickel cadmium batteries are designed for applications where the battery can sustain electrical loads between 30 minutes to 3 hours. These batteries are used for mixed-load applications and the capacity of the battery usually ranges between 10 Ah and 1,460 Ah. The batteries can sustain frequent or infrequent discharges as mixed loads include high and low discharge rates. The M Range batteries are used in power backup applications such as transmission and distribution substations for switchgear applications. The batteries are also used for other applications, which include switchgear protection, emergency lighting, motive power, train lighting, instrumentation and process control, and UPS (Uninterrupted Power Supply). For instance, HBL Power Systems Limited offers M (Medium rate) KBM nickel cadmium batteries.
The market for automotive & transportation end-user is expected to grow at a significant CAGR during the forecast period.
Ni-Cd batteries are being used in the automotive & transportation sector in passenger vehicles, commercial & public transit vehicles, railways, and metro rails. They are used in the transportation sector for various applications, which include engine starting, backup power for automotive systems, emergency lighting, railway signaling and communication systems, railway switching systems, engine cranking, critical power backup for substations, crossing protection systems, and critical power backup for emergency generators, among others. The transportation sector demands a reliable power supply so that proper functioning such as communications, control and signaling, along with passenger safety is not compromised. Nickel cadmium batteries are ideally suitable to provide long and reliable power, low maintenance and operation in temperature extremes.
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North America to account for a significant share of the nickel cadmium battery market in 2027.
The North American nickel cadmium battery market is further segmented into the US, Canada, and Mexico. In this region, the US captures an excellent market share of the nickel cadmium battery market. The battery is utilized in various applications of verticals ranging from aerospace & defense, consumer electronics, medical equipment, and utility, among others. The region is a major manufacturing hub for aircraft, which is a potential market for nickel cadmium batteries. In addition, the developing economy of Mexico is strengthening its power infrastructure, which will further drive the nickel cadmium battery market in the region. Moreover, the region has well-established recycling laws for the proper recycling and reuse of the nickel cadmium battery, which drives the battery market in the region. Furthermore, aircraft manufacturing in Canada is fueling the growth of the market and Mexico offers vast opportunities for the nickel cadmium battery market.
The major players include ALCAD A.B. (Sweden), EnerSys (US), GS Yuasa Corporation (Japan), HOPPECKE Batterien GmbH & Co. KG (Germany), HBL Power Systems Limited (India), and Saft Groupe SAS (France).
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