Nickel Metal Hydride Battery market size was valued at USD 1.4 billion in 2023 and is estimated to reach a value of USD 2.5 billion by 2035 with a CAGR of 4.7% during the forecast period 2024-2035. The rise of the automotive industry and the increasing popularity of hybrid electric vehicles are the main drivers of the NiMH battery market in the automotive sector. Globally, there is a growing need for automobiles due to rising income levels and urbanization.
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