South Korea Nickel Zinc Rechargeable Battery Market Size & Outlook
South Korea nickel zinc rechargeable battery market, 2018-2030 (US$M)
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South Korea nickel zinc rechargeable battery market highlights
- The South Korea nickel zinc rechargeable battery market generated a revenue of USD 0.5 million in 2023 and is expected to reach USD 1.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.6% 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.
Nickel zinc rechargeable battery market data book summary
| Market revenue in 2023 | USD 0.5 million |
| Market revenue in 2030 | USD 1.6 million |
| Growth rate | 16.6% (CAGR from 2023 to 2030) |
| Largest segment | Aaa battery |
| Fastest growing segment | 5AA Battery |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 4.0% of the global nickel zinc rechargeable battery market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China nickel zinc rechargeable battery market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4.2 million by 2030.
Aaa battery was the largest segment with a revenue share of 60% in 2023. Horizon Databook has segmented the South Korea nickel zinc rechargeable battery market based on 5aa battery, aaa battery covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean market is likely to witness significant growth over the forecast period, driven by the advanced technological landscape and increasing demand for efficient, eco-friendly energy storage solutions in the country. South Korea, known for its robust electronics and automotive industries, provides a fertile ground for the expansion of Nickel Zinc (NiZn) rechargable battery applications.
The country is one of the global leaders in technology and innovation. Companies such as Samsung and LG are at the forefront of battery technology development, including NiZn batteries. The focus on research & development in battery technology is a significant driver of market growth.
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Nickel Zinc Rechargeable Battery Market Scope
Nickel Zinc Rechargeable Battery Market Companies
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South Korea nickel zinc rechargeable battery market size, by type, 2018-2030 (US$M)
South Korea Nickel Zinc Rechargeable Battery Market Outlook Share, 2023 & 2030 (US$M)
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