Europe Nickel Zinc Rechargeable Battery Market Size & Outlook
Europe nickel zinc rechargeable battery market, 2018-2030 (US$M)
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Europe nickel zinc rechargeable battery market highlights
- The Europe nickel zinc rechargeable battery market generated a revenue of USD 2.7 million in 2023.
- The market is expected to grow at a CAGR of 25.2% from 2024 to 2030.
- In terms of segment, aaa battery was the largest revenue generating type in 2023.
- 5AA Battery is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 2.7 million |
| Market revenue in 2030 | USD 13.1 million |
| Growth rate | 25.2% (CAGR from 2023 to 2030) |
| Largest segment | Aaa battery |
| Fastest growing segment | 5AA Battery |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 5AA Battery, AAA Battery |
| Key market players worldwide | ZincFive, BetterPower Battery Co., Ansmann, EBLOFFICIAL, ZAF Energy Systems, EverZinc |
Other key industry trends
- In terms of revenue, Europe region accounted for 20.0% of the global nickel zinc rechargeable battery market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 13.1 million by 2030.
Aaa battery was the largest segment with a revenue share of 48.15% in 2023. Horizon Databook has segmented the Europe nickel zinc rechargeable battery market based on 5aa battery, aaa battery covering the revenue growth of each sub-segment from 2018 to 2030.
The Europe nickel zinc rechargeable battery market is driven by several key factors. The growing preference for sustainable and eco-friendly products is a notable trend, as nickel zinc batteries offer a greener alternative to traditional battery technologies.
The increasing demand for nickel zinc rechargeable batteries in applications such as automobiles, UPS systems, data centers, and national defense is expected to drive the market in Europe. Additionally, the rapid adoption of electric vehicles (EVs) and the growing renewable energy sector are major drivers for the overall battery market in Europe.
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Nickel Zinc Rechargeable Battery Market Scope
Nickel Zinc Rechargeable Battery Market Companies
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Europe nickel zinc rechargeable battery market size, by country, 2018-2030 (US$M)
Europe Nickel Zinc Rechargeable Battery Market Outlook Share, 2023 & 2030 (US$M)
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