유럽의 전기자동차 니켈 수소 배터리 시장 : 점유율 분석, 산업 동향, 성장 예측(2025-2030년)

The Europe Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry is expected to grow from USD 0.68 billion in 2025 to USD 1.22 billion by 2030, at a CAGR of 12.29% during the forecast period (2025-2030).

Key Highlights

• In the medium term, the growing adoption of hybrid electric vehicles (HEVs) and Europe's ambitious targets for carbon neutrality and emissions reduction are poised to boost the demand for nickel metal hydride (NiMH) batteries in electric vehicle applications during the forecast period.
• Conversely, swift advancements and decreasing costs in lithium-ion technology are likely to pose challenges to market growth in the coming years.
• However, with the enhancement of battery recycling infrastructure in Europe, NiMH batteries might garner renewed interest. Their established recycling processes, coupled with alignment to sustainability goals, present substantial opportunities for the nickel metal hydride battery market in electric vehicle applications in the foreseeable future.
• Germany is projected to be the fastest-growing region in Europe's nickel metal hydride battery market for electric vehicle applications, driven by increasing government subsidies for hybrid vehicles during the forecast period.

Europe Nickel Metal Hydride Battery Market Trends

Hybrid Electric Vehicles in Propulsion Type Segment Witness Significant Growth

• Hybrid electric vehicles (HEVs) play a pivotal role in the electric vehicle market, integrating an internal combustion engine with a battery-powered electric motor. In Europe, HEVs are a prevalent transitional solution to curb greenhouse gas emissions, with a significant number utilizing nickel-metal hydride (NiMH) batteries.
• NiMH batteries offer a cost advantage over lithium-ion batteries, especially in HEV applications where energy density isn't paramount. This cost-effectiveness allows HEVs to be competitively priced in Europe, which has seen a notable uptick in HEV adoption over recent years. As per the Association des Constructeurs Europeens d'Automobiles (ACEA), by June 2024, hybrid-electric vehicles (HEVs) boosted their share of new car registrations in the European Union (EU) from 24.4% to 29.5% since 2023.
• The segment's four largest markets - France, Italy, Spain, and Germany - all reported impressive double-digit growths: France at +34.9%, Italy at +27.2%, Spain at +23%, and Germany at +16.5%. This surge elevated the hybrid-electric market share to 29.5%, a notable increase from 24.4% in June 2023. With government incentives and tax benefits for HEVs being rolled out across the region, this share is poised for further growth, signaling a rising demand for NiMH batteries in the coming years.
• Moreover, Toyota, a leading automaker that extensively employs NiMH batteries in models like the Prius and Corolla, boasts a significant market presence in Europe. This presence fuels the ongoing demand for NiMH technology throughout the region, highlighting the importance of these batteries in the automotive sector.
• Additionally, while challenges such as charging infrastructure and high costs hinder the full adoption of electric vehicles (EVs), hybrid electric vehicles (HEVs) emerge as a practical alternative for consumers moving towards cleaner transportation. In response to the growing demand for EVs in the region, a leading EV manufacturer is set to introduce hybrid EVs in the upcoming year.
• As an illustration, in July 2024, Stellantis expanded its benchmark hybrid powertrain offerings to additional nameplates, responding to heightened demand from European customers. The company boasts a lineup of 30 hybrid models in Europe for the year, with plans for six more launches by 2026. These initiatives pave the way for increased demand for nickel metal hydride batteries during the forecast period.
• Such projects and initiatives are likely to increase HEV production across the region, and there is expected to be a rising demand for NiMH batteries during the forecast period.

Germany to Witness Significant Growth

• Germany's commitment to vehicle electrification, endorsement of hybrid technologies, and emphasis on battery safety and recyclability are set to keep the NiMH battery market for electric vehicles steady. The market is also expected to benefit from government incentives and increasing consumer awareness about sustainable transportation options.
• In Germany, electric vehicles (EVs), including hybrid electric vehicles (HEVs), rely on nickel-metal hydride (NiMH) batteries for their stability, safety, and durability. Over the past few years, the demand for EVs has surged in the region, with companies like BMW, Mercedes-Benz, Toyota, and Volkswagen stepping up to meet this growing demand.
• Data from the International Energy Agency (IEA) reveals that in 2023, electric vehicle sales, encompassing HEVs and plug-in hybrid electric vehicles (PHEVs), reached 700,000 units. This figure marks a remarkable 5.48-fold increase since 2019. As NiMH technology continues to advance, boasting features like higher energy densities and improved efficiency in HEVs, electric vehicle sales are poised for significant growth in the coming years.
• Further, the government provides subsidies and tax incentives for low-emission vehicles, including hybrids. Such policy backing indirectly strengthens the NiMH market, given that hybrids serve as a bridge for consumers transitioning to electric mobility. These subsidies and tax benefits make hybrids more affordable, encouraging consumers to adopt them.
• For instance, in September 2024, Germany's coalition government approved a tax reduction proposal to boost electric car adoption. The initiative allows companies to deduct up to 40% of the value of newly acquired electric and qualifying zero-emission vehicles. The government projects an average annual expenditure of approximately 465 million euros (USD 514 million) for this measure from 2024 to 2028. Such initiatives are set to bolster EV adoption across the region, subsequently driving up the demand for NiMH batteries during the forecast period.
• Additionally, ongoing advancements in NiMH technology, including increased energy densities and improved efficiency, are likely to broaden their use in hybrid vehicles. These enhancements also pave the way for new market opportunities throughout the forecast period, particularly in mild hybrids and plug-in hybrids.
• Hence, these initiatives and plans are likely to enhance EV sales across the region and raise the demand for NiMH batteries during the forecast period.

Europe Nickel Metal Hydride Battery Industry Overview

Europe's nickel metal hydride battery market for electric vehicle applications is semi-fragmented. Some key players (not in particular order) are Panasonic Corporation, Toyota Industries Corporation, Primearth EV Energy Co., Ltd., GS Yuasa Corporation, and EnerSys, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Scope of the Study
• 1.2 Market Definition
• 1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

• 4.1 Introduction
• 4.2 Market Size and Demand Forecast in USD, till 2029
• 4.3 Recent Trends and Developments
• 4.4 Government Policies and Regulations
• 4.5 Market Dynamics
  • 4.5.1 Drivers
    • 4.5.1.1 Growing Adoption of Hybrid Electric Vehicles
    • 4.5.1.2 Rising carbon neutrality and emissions reduction initiatives
  • 4.5.2 Restraints
    • 4.5.2.1 Rapid Advancement and Cost Reduction in Lithium-ion Technology
• 4.6 Supply Chain Analysis
• 4.7 Industry Attractiveness - Porter's Five Forces Analysis
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Consumers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes Products and Services
  • 4.7.5 Intensity of Competitive Rivalry
• 4.8 Investment Analysis

5 MARKET SEGMENTATION

• 5.1 Propulsion Type
  • 5.1.1 Battery Electric Vehicles
  • 5.1.2 Hybrid Electric Vehicles
  • 5.1.3 Plug-In Hybrid Electric Vehicles
  • 5.1.4 Fuel Cell Electric Vehicles
• 5.2 Vehicle Type
  • 5.2.1 Passenger Vehicles
  • 5.2.2 Commercial Vehicles
• 5.3 Geography
  • 5.3.1 Germany
  • 5.3.2 France
  • 5.3.3 United Kingdom
  • 5.3.4 Turkey
  • 5.3.5 Spain
  • 5.3.6 Russia
  • 5.3.7 NORDIC
  • 5.3.8 Italy
  • 5.3.9 Rest of Europe

6 COMPETITIVE LANDSCAPE

• 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
• 6.2 Strategies Adopted by Leading Players
• 6.3 Company Profiles
  • 6.3.1 Panasonic Corporation
  • 6.3.2 Toyota Industries Corporation
  • 6.3.3 Primearth EV Energy Co., Ltd.
  • 6.3.4 GS Yuasa Corporation
  • 6.3.5 Samsung SDI Co., Ltd.
  • 6.3.6 Hitachi, Ltd.
  • 6.3.7 Johnson Controls (Clarios)
  • 6.3.8 EnerSys
  • 6.3.9 Fujitsu Ltd.
  • 6.3.10 SAFT Groupe S.A.
• 6.4 List of Other Prominent Companies
• 6.5 Market Ranking Analysis

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

• 7.1 Innovation in Established Battery Recycling Processes