Nickel Powder Market in Trends by Growing Usage in Battery Industry

The nickel powder market is witnessing increased demand owing to growth in the lithium-ion battery applications. Nickel powder finds widespread usage as a cathode material in lithium-ion batteries used for electric vehicles and energy storage systems due to its high energy density and stability. With the global focus shifting towards sustainable energy and decarbonization, the lithium-ion battery sector is growing rapidly to support rising renewable energy integration and electric vehicle adoption. Nickel powder plays a crucial role in the lithium-ion battery production process due to its ability to intercalate lithium ions. This ability enables lithium-ion batteries to have high energy density and discharge capacity. The global Nickel Powder Market is estimated to be valued at US$ 91.39 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031. Key Takeaways Key players - Key players operating in the Nickel Powder Market are Kawasaki Heavy Industries Ltd, CRRC Corporation Limited, Nippon Sharyo Ltd., Siemens AG, Progress Rail (Caterpillar Company), Bombardier Inc., Hitachi Ltd., Alstom SA, Escorts Group, Wabtec Corp. (previously GE Transportation), Construcciones Y Auxiliar De Ferrocarriles sa, Hyundai Rotem, Trinity Industries Inc., Stadler Rail AG, and The Greenbrier Companies.

Kawasaki Heavy Industries Ltd is a prominent player and a leading manufacturer of nickel powder with a global presence. CRRC Corporation Limited is also a major Chinese player focusing on expanding nickel powder capacity to cater to the growing battery sector. Growing demand - With rapid electrification in the automotive and energy industries, demand for lithium-ion batteries is surging exponentially. This is driving significant Nickel Powder Market Growth in the consumption of nickel powder as a key battery material. Global expansion - Major players are investing heavily in capacity expansions across key markets to leverage growth opportunities. CRRC plans to triple its nickel powder output by 2025. New manufacturing units are also coming up in Europe and North America with focus on the electric vehicle industry. Market key trends One of the prominent trends witnessed in the Nickel Powder Market is the shift towards higher nickel content cathode materials. Nickel content is being increased from 80% to 90% or above to achieve higher energy density levels exceeding 250 Wh/kg. This allows electric vehicles to achieve longer driving ranges and makes grid-scale battery solutions more viable for renewable energy storage. Leading battery makers are collaborating with nickel powder suppliers to develop customized, high-performance materials.

Porter's Analysis Threat of new entrants: The threat of new entrants entering the Nickel Powder Market is moderate as there are some barriers to overcome such as large capital investments required for production capacity. Bargaining power of buyers: The bargaining power of buyers is high in this market as there are many established manufacturers supplying nickel powder globally. Buyers can negotiate on price and find alternatives easily. Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are some key nickel ore suppliers globally but Nickel Powder Companies can also source from alternative suppliers. Threat of new substitutes: The threat of substitutes is low as there are limited direct substitutes for nickel powder in its applications in various end-use industries like batteries, chemicals, aerospace and defense and others. Competitive rivalry: The competitive rivalry in the market is high due to presence of many regional and global players competing on pricing, product quality and reliability of supplies. Geographical regions: In terms of value, the Nickel Powder Market is currently concentrated in Asia Pacific region mainly due to presence of large manufacturing bases of battery, chemical and metal industries in countries like China, Japan and South Korea. The fastest growing region for Nickel Powder Market is expected to be Europe over the forecast period due to stringent emission norms driving use of nickel in lithium-ion batteries for electric vehicles.

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