Size and Share of Italy Nickel Metal Hydride Battery Market For Electric Vehicles
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 129.02 Million |
| Market Size (2030) | USD 215.55 Million |
| CAGR (2025 - 2030) | 10.81% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Analysis of Italy Nickel Metal Hydride Battery Market For Electric Vehicles by Mordor Intelligence
The Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry is expected to grow from USD 129.02 million in 2025 to USD 215.55 million by 2030, at a CAGR of 10.81% during the forecast period (2025-2030).
- Over the medium term, supporting government incentives for electric vehicles, the surge in electric vehicles, technological advancements, and environmental regulations on reducing carbon emissions will likely drive the market during the forecast period.
- Conversely, competition from alternative technologies like lithium-ion batteries is expected to hinder the market during the forecast period.
- Nevertheless, Italy's expanding market for electric and hybrid vehicles presents a significant growth opportunity for nickel metal hydride battery batteries.
Insights and Trends of Italy Nickel Metal Hydride Battery Market For Electric Vehicles
Hybrid Electric Vehicles are Expected to Witness Significant Growth
- Italy's vehicle market is seeing a notable increase in the adoption of hybrid electric vehicles (HEVs), with models like the Toyota Corolla gaining popularity. This trend reflects a shift towards more environmentally friendly cars, supported by Italy's commitment to improving EV infrastructure and providing incentives for electric mobility.
- HEVs, which meld internal combustion engines with electric propulsion, promise better fuel efficiency and reduced emissions. These vehicles are pivotal in Italy's strategy to reduce carbon emissions and transition to more sustainable transportation.
- For instance, in Italy, the number of new registrations for HEVs increased significantly from 454,989 in 2022 to 575,480 in 2023. This represents a growth rate of approximately 26.5 percent, highlighting a solid upward trend in adopting HEVs. This surge is driven by government incentives and growing environmental awareness, making HEVs an increasingly popular choice among Italian consumers.
- Due to this significant increase in HEV registrations, the demand for nickel metal hydride (NiMH) batteries is expected to rise, as they are commonly used in hybrid vehicles. This trend underscores the importance of NiMH batteries in supporting Italy's transition to more sustainable transportation options.
- In May 2024, Stellantis announced plans to produce hybrid versions of the Fiat 500e and Jeep Compass in Italy. Production of the hybrid 500e will start in Q1 2026 at the Mirafiori plant in Turin, while the hybrid Jeep Compass will be made at the Melfi plant. Additionally, the production of Fiat Panda in Italy will continue until 2029. This move focuses on enhancing the local production of electric vehicles.
- Given the above points, Italy's hybrid electric vehicles (HEVs) are expected to grow significantly and drive the nickel hydride battery market.
Government Incentives and Regulations are expected to Drive the Market
- Italy is making significant progress in adopting electric vehicles, with growing infrastructure and increasing interest. Companies like Enel X are leading the way in expanding charging networks. This momentum is helping Italy embrace a more sustainable future.
- In Europe, electric car sales have grown significantly, increasing from 2.7 million units in 2022 to 3.2 million in 2023. This represents a growth rate of approximately 18.5 percent, highlighting the rising popularity and adoption of electric vehicles across the continent.
- In January 2024, Italy’s Minister of Economic Development, Adolfo Urso, unveiled new Ecobonus incentives to accelerate the adoption of electric and hybrid vehicles. These financial incentives are designed to ease the transition for consumers, encouraging more Italians to choose electric cars over traditional gas-powered ones.
- For instance, the impact of the Ecobonus incentives was evident in June 2024, when Italy saw a remarkable surge in electric vehicle registrations. With 13,285 new total electric vehicles registered, this marked a 115.8 percent increase from June 2023, highlighting the effectiveness of the incentives in boosting EV adoption.
- Italy is poised to transition from a landscape dominated by 83% internal combustion engine (ICE) vehicles to a diverse mix of battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) over the next 4-8 years. This shift aims to curtail CO2 emissions and capitalize on Italy's conducive EV environment and its moderate electricity emission factor. Central to this evolution are nickel-metal hydride batteries, a staple in HEVs.
- Given the dynamics, government incentives for electric vehicles are expected to boost Italy's nickel-metal hydride battery market.
Competitive Landscape
Italy's nickel metal hydride battery market for electric vehicles is moderate. Some of the key players in the market (in no particular order) include Panasonic Holdings Corporation, Samsung SDI Co. Ltd., LG Chem Ltd., Gotion High Tech Co Ltd, and Contemporary Amperex Technology Co Ltd.
Leaders of Italy Nickel Metal Hydride Battery Market For Electric Vehicles
-
Panasonic Holdings Corporation
-
Samsung SDI Co. Ltd.
-
LG Chem Ltd.
-
Gotion High tech Co Ltd
-
Contemporary Amperex Technology Co Ltd
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- February 2024: Italy has announced a plan to provide USD 1 billion in subsidies to boost its car industry. This initiative aims to encourage the adoption of eco-friendly vehicles that use Hybrid metal hydride and lithium-ion batteries. The goal is to support the automotive sector while encouraging a shift towards more sustainable transportation options.
- February 2024: FDK began mass production and distribution of its HR-AAETZ, a high-durability AA-size NiMH battery. This new product features improved cycle life and extended longevity, making it ideal for applications that require frequent use and durable performance.
Scope of Report on Italy Nickel Metal Hydride Battery Market For Electric Vehicles
A nickel metal hydride (NiMH) battery is a rechargeable battery. It uses nickel oxide hydroxide as the positive electrode and a hydrogen-absorbing alloy as the negative electrode. Nickel metal hydride batteries are known for their higher energy density compared to nickel-cadmium (NiCd) batteries, making them suitable for various applications such as electric vehicles(EVs), hybrid electric vehicles (HEVs), consumer electronics, and power tools.
The Italy nickel metal hydride battery market for electric vehicle applications is segmented by propulsion type (hybrid electric vehicles, battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles) and vehicle type (Passenger Cars and commercial vehicles). The report offers market sizes and forecasts in terms of revenue (USD) for all the above segments.
| Battery Electric Vehicles |
| Hybrid Electric Vehicles |
| Plug-in Hybrid Electric Vehicles |
| Fuel Cell Electric Vehicles |
| Passenger Cars |
| Commercial Vehicles |
| Propulsion Type | Battery Electric Vehicles |
| Hybrid Electric Vehicles | |
| Plug-in Hybrid Electric Vehicles | |
| Fuel Cell Electric Vehicles | |
| Vehicle Type | Passenger Cars |
| Commercial Vehicles |
Key Questions Answered in the Report
How big is the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry?
The Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry size is expected to reach USD 129.02 million in 2025 and grow at a CAGR of 10.81% to reach USD 215.55 million by 2030.
What is the current Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry size?
In 2025, the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry size is expected to reach USD 129.02 million.
Who are the key players in Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry?
Panasonic Holdings Corporation, Samsung SDI Co. Ltd., LG Chem Ltd., Gotion High tech Co Ltd and Contemporary Amperex Technology Co Ltd are the major companies operating in the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry.
What years does this Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry cover, and what was the market size in 2024?
In 2024, the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry size was estimated at USD 115.07 million. The report covers the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Italy Nickel Metal Hydride Battery Market For Electric Vehicle Application Industry size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Page last updated on:
Report on Italy Nickel Metal Hydride Battery Market For Electric Vehicles
Statistics for the 2025 Italy Nickel Metal Hydride Battery For Electric Vehicle Application market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy Nickel Metal Hydride Battery For Electric Vehicle Application analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
