Nickel Manganese Cobalt Battery Market Size and Forecast 2034

Nickel Manganese Cobalt Battery Market Growth, Size, Trends Analysis - By Type, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034

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Published: Aug-2025	Report ID: POAE25153	Pages: 1 - 253	Formats^*:
Category : Power & Energy

Nickel Manganese Cobalt Battery Market Introduction and Overview

According to SPER Market Research, the Global Nickel Manganese Cobalt Battery Market is estimated to reach USD 126.45 billion by 2034 with a CAGR of 15.05%.

The report includes an in-depth analysis of the Global Nickel Manganese Cobalt Battery Market, including market size and trends, Interface mix, Applications, and supplier analysis. The Global Nickel Manganese Cobalt Battery Market was valued at USD 31.12 billion in 2024 and is expected to grow at a CAGR of 15.05% from 2025 to 2034. Because of their high energy density, NMC batteries are a form of lithium-ion battery that can be used in a variety of applications, such as renewable energy storage systems, portable electronics, and electric vehicles (EVs). From raw material extraction and processing to battery manufacturing and sales, this market covers the full value chain. Because of their high energy density and comparatively long lifespan, NMC batteries are frequently used in the electric vehicle (EV) industry, which is one notable use. In order to satisfy varying demand and stabilize the energy supply, they offer dependable and effective storage systems. The market for nickel manganese cobalt (NMC) batteries is expanding as a result of the growing shift from conventional to green energy.

By Type Insights:

Throughout the anticipated time, the NMC 622 segment holds the highest share. With a cathode composition of 60% nickel, 20% manganese, and 20% cobalt, NMC 622 batteries provide a well-balanced mix of power capability, thermal stability, and energy density. Longer range, quicker charging, and increased safety are crucial in a variety of industries, including consumer electronics and electric cars. This arrangement solves these issues. The use of NMC 622 batteries has increased because to the increased demand for electric vehicles and developments in energy storage technologies.

By Application Insights:

Over the course of the projected period, the commercial segment is anticipated to have the largest share. Demand for NMC batteries, which have a better energy density and a longer lifespan than other battery chemistries, is being driven by the growing usage of electric vehicles (EVs) in the commercial sector, such as buses, lorries, and delivery vans. Demand for NMC batteries in commercial applications is further increased by the increasing deployment of renewable energy sources, such as wind and solar farms, which need for effective energy storage solutions. Additionally, increased performance attributes and cost reductions brought about by manufacturing procedures have made NMC batteries more appealing for commercial application.

By Regional Insights:

The Asia Pacific area eventually accounted for the largest portion of the industry. Demand for energy storage systems that can effectively capture intermittent renewable energy, including solar and wind power, has increased as nations in the region work to lower carbon emissions and switch to greener energy sources. With a higher energy density, better safety features, and a longer lifespan than conventional battery technologies, NMC batteries have become a potential technology in this area. The cost of NMC batteries has also decreased due to improvements in production techniques and economies of scale, which has accelerated their use in a variety of applications such as grid stabilization, domestic energy storage systems, and electric vehicles.

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Market Competitive Landscape:

The nickel manganese cobalt (NMC) battery industry is populated by a wide variety of market participants, who are always attempting to combine the use of increased operational efficiency to create high-power and efficient batteries. Some of the prominent players in Global Nickel Manganese Cobalt Battery Market are A123 Systems, LLC, Amaron Batteries, BYD Company Limited, Clarios, Contemporary Amperex Technology Co., Limited, Ding Tai Battery Company Ltd, Duracell, Inc, Exide Technologies, Koninklijke Philips N.V, Others.

Recent Developments:

In July 2024, The battery pack manufacturer and recycler Lohum intends to spend more than USD 135 million on the advancement of manganese lithium-ion batteries over the course of the following three years. Additionally, the investment will help the company achieve its goal of setting a capacity of more than 20 GWh for the same number of years.

In January 2024, International Battery Company (IBC) acquired the pre-series of an eco-friendly, large-capacity prismatic lithium-ion NMC battery for electric vehicles. a USD 35 million investment in addition to additional funds from Veda VC, Beenext, and other American and Korean investors. The money will assist the business in creating goods that are capable of rapid charging and high temperatures.

Scope of the report:

Report Metric	Details
Market size available for years	2021-2034
Base year considered	2024
Forecast period	2025-2034
Segments covered	By Type, By Application
Regions covered	North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa
Companies Covered	A123 Systems, LLC, Amaron Batteries, BYD Company Limited, Clarios, Contemporary Amperex Technology Co, Limited, Ding Tai Battery Company Ltd, Duracell, Inc, Exide Technologies, Koninklijke Philips N.V.

Key Topics Covered in the Report:

Global Nickel Manganese Cobalt Battery Market Size (FY 2021-FY 2034)
Overview of Global Nickel Manganese Cobalt Battery Market
Segmentation of Global Nickel Manganese Cobalt Battery Market By Type (NMC 622, NMC 532, NMC 111)
Segmentation of Global Nickel Manganese Cobalt Battery Market By Application (Commercial, Consumer Electronics, Electric Vehicles, Industrial, Residential, Other Applications)
Statistical Snap of Global Nickel Manganese Cobalt Battery Market
Expansion Analysis of Global Nickel Manganese Cobalt Battery Market
Problems and Obstacles in Global Nickel Manganese Cobalt Battery Market
Competitive Landscape in the Global Nickel Manganese Cobalt Battery Market
Details on Current Investment in Global Nickel Manganese Cobalt Battery Market
Competitive Analysis of Global Nickel Manganese Cobalt Battery Market
Prominent Players in the Global Nickel Manganese Cobalt Battery Market
SWOT Analysis of Global Nickel Manganese Cobalt Battery Market
Global Nickel Manganese Cobalt Battery Market Future Outlook and Projections (FY 2025-FY 2034)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source

2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs

2.2. Market size estimation

2.2.1. Top-down and Bottom-up approach

2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis

4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges

5. Market variable and outlook

5.1. SWOT Analysis

5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats

5.2. PESTEL Analysis

5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape

5.3. PORTERs Five Forces

5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry

5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Nickel Manganese Cobalt Battery Market Manufacturing Base Distribution, Sales Area, Interface Type
6.2. Mergers & Acquisitions, Partnerships, Interface Launch, and Collaboration in Global Nickel Manganese Cobalt Battery Market

7. Global Nickel Manganese Cobalt Battery Market, By Type 2021-2034 (USD Million)

7.1. NMC 622
7.2. NMC 532
7.3. NMC 111

8. Global Nickel Manganese Cobalt Battery Market, By Application 2021-2034 (USD Million)

8.1. Commercial
8.2. Consumer Electronics
8.3. Electric Vehicles
8.4. Industrial
8.5. Residential
8.6. Other Applications

9. Global Nickel Manganese Cobalt Battery Market, 2021-2034 (USD Million)

9.1. Global Nickel Manganese Cobalt Battery Market Size and Market Share

10. Global Nickel Manganese Cobalt Battery Market, By Region, 2021-2034 (USD Million)

10.1. Asia-Pacific

10.1.1. Australia
10.1.2. China
10.1.3. India
10.1.4. Japan
10.1.5. South Korea
10.1.6. Rest of Asia-Pacific

10.2. Europe

10.2.1. France
10.2.2. Germany
10.2.3. Italy
10.2.4. Spain
10.2.5. United Kingdom
10.2.6. Rest of Europe

10.3. Middle East and Africa

10.3.1. Kingdom of Saudi Arabia
10.3.2. United Arab Emirates
10.3.3. Qatar
10.3.4. South Africa
10.3.5. Egypt
10.3.6. Morocco
10.3.7. Nigeria
10.3.8. Rest of Middle-East and Africa

10.4. North America

10.4.1. Canada
10.4.2. Mexico
10.4.3. United States

10.5. Latin America

10.5.1. Argentina
10.5.2. Brazil
10.5.3. Rest of Latin America

11. Company Profile

11.1. A123 Systems, LLC

11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Interface summary
11.1.4. Recent developments

11.2. Amaron Batteries

11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Interface summary
11.2.4. Recent developments

11.3. BYD Company Limited

11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Interface summary
11.3.4. Recent developments

11.4. Clarios

11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Interface summary
11.4.4. Recent developments

11.5. Contemporary Amperex Technology Co., Limited

11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Interface summary
11.5.4. Recent developments

11.6. Ding Tai Battery Company Ltd

11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Interface summary
11.6.4. Recent developments

11.7. Duracell, Inc

11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Interface summary
11.7.4. Recent developments

11.8. Exide Technologies

11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Interface summary
11.8.4. Recent developments

11.9. Koninklijke Philips N.V

11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Interface summary
11.9.4. Recent developments

11.10. Others

12. Conclusion

13. List of Abbreviations

14. Reference Links

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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Frequently Asked Questions About This Report

How big is the Nickel Manganese Cobalt Battery Market?

Nickel Manganese Cobalt Battery Market is projected to reach USD 126.45 billion by 2034, growing at a CAGR of of 15.05% during the forecast period.

What is the growth rate of the Nickel Manganese Cobalt Battery Market?

Nickel Manganese Cobalt Battery Market grew in Market size from 2025. The Market is expected to reach USD 126.45 billion by 2034, at a CAGR of 15.05% during the forecast period.

What is the anticipated CAGR of the Nickel Manganese Cobalt Battery Market?

Nickel Manganese Cobalt Battery Market CAGR of 15.05% during the forecast period.

How can I get a sample report on the Nickel Manganese Cobalt Battery Market?

You can get the sample pages by clicking the link - Click Here

What is the Market size of the Nickel Manganese Cobalt Battery Market?

Nickel Manganese Cobalt Battery Market size is USD 126.45 billion from 2025 to 2034.

Which segment is expected to Nickel Manganese Cobalt Battery Market?

Nickel Manganese Cobalt Battery Market is covered By Type, By Application

Which region is expected to have the highest Market share in the Nickel Manganese Cobalt Battery Market?

The North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa is the highest Market share in the Nickel Manganese Cobalt Battery Market.

Who are the key players in Nickel Manganese Cobalt Battery Market?

A123 Systems, LLC, Amaron Batteries, BYD Company Limited, Clarios, Contemporary Amperex Technology Co, Limited, Ding Tai Battery Company Ltd, Duracell, Inc, Exide Technologies, Koninklijke Philips N.V.

What is the conclusion of the Nickel Manganese Cobalt Battery Market?

The report includes an in-depth analysis of the Global Nickel Manganese Cobalt Battery Market, including market size and trends, Interface mix, Applications, and supplier analysis.