Nickel Cadmium Battery Market Size, Share, Growth Analysis, By Type(D battery, C battery), By Block Battery Construction(L range, M range), By Application(Consumer Electronics, Industrial), By Sales Channel(OEM and Aftermarket) - Industry Forecast 2024-2031

Global Nickel Cadmium Battery Market size was valued at USD 1.40 Billion in 2022 and is poised to grow from USD 1.44 Billion in 2023 to USD 1.85 Billion by 2031, growing at a CAGR of 2.8% in the forecast period (2024-2031).

Technological advances in NiCd battery manufacturing and materials contribute to improved energy density, cycle life, and safety features. Innovations such as cadmium-free electrodes and improved separators are enhancing the performance and reliability of NiCd batteries, leading to market growth. The increasing use of portable electronics such as smartphones, laptops, cameras and power tools drive the demand for rechargeable batteries driven by NiCd batteries. The ability to supply power reliably and withstand repeated charging makes it suitable for a variety of power consumption applications.

NiCd batteries are widely used in industrial applications such as emergency lighting, backup power systems, forklifts, material handling equipment. Their efficiency, high discharge and temperature tolerance make it ideally suited for demanding industrial applications, leading to market growth. NiCd batteries are used in a number of automotive applications, including start-stop systems and hybrid vehicles. But the market share of NiCd batteries in automobiles is declining due to competition from other battery chemistries, such as lithium-ion. Environmental regulations aimed at banning the use of cadmium and other toxic elements are impacting the market. Stringent regulations on the disposal and recycling of NiCd batteries, as well as restrictions on their use in certain industries, are also impacting the market.