World News: 09:10 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
Nickel in the global automotive market is expected to reach an estimated $13.4 billion by 2023 with a CAGR of 24.5% from 2018 to 2023. The future of nickel in the global automotive market looks promising with opportunities for passenger cars and commercial and electric vehicles. The major growth drivers for this market are increasing penetration of nickel in engines, and the growth of electric vehicle production.Emerging trends, which have a direct impact on the dynamics for nickel in the global automotive market by industry, include development of nickel alloy foam and increased nickel content in electric vehicle batteries.On the basis of its comprehensive research, the researcher forecasts that nickel for batteries is expected to become the largest application and witness the highest growth over the forecast period due to the increasing demand for nickel cathode batteries for electric vehicles. Within this market, electric vehicles is expected to emerge as the largest segment and witness the highest growth over the forecast period due to increased electric vehicle production utilizing nickel content in nickel cobalt aluminum oxide (NCA) and nickel manganese cobalt oxide (NMC) batteries.Asia Pacific is expected to remain the largest region and witness highest growth over the forecast period due to the growing electric vehicle production and increasing utilization of nickel in high-performance vehicle.
Some of the nickel companies in the global automotive market profiled in this report include Vale, Nornickel, BHP Billiton, Jinchuan Group, Eramet and Sheritt and others.
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Related Topics: Nickel
Globe Newswire: 09:10 GMT Monday 11th February 2019
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