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Rising Popularity of Electric Vehicles Would Drive Global Nickel Market

Date: 24th Nov 2020 | Category: Metal & Mining

The global nickel production volume is estimated to reach 2.76 million tons in 2024, growing at a CAGR of 2.92% for the period spanning from 2020 to 2024. The factors such as increasing per capita disposable income, rising demand for stainless steel, increasing demand for nickel in batteries and high demand in transportation sector are expected to drive the market. However, growth of the industry will be challenged by price volatility. A few notable trends include growing popularity of electric vehicles and growing use of nickel in the healthcare sector. 

The global nickel market is expected to grow in future owing rising use of nickel in automotive, electrical and other end use industries has driven the growth of nickel market globally. In terms of geographical areas, Asia is the major contributor to the global nickel consumption supported by increasing demand for stainless steel and rising use of electric vehicles. China is the fastest growing market for nickel with increasing industrialization and infrastructure investments. 

Scope of the report:

• The report provides a comprehensive analysis of the global nickel industry.

• The major regional markets (Asia, Europe and America) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Nornickel, Jinchuan Group Ltd., Glencore Plc, Vale S.A., Diageo Plc and Anglo American Plc) are also presented in detail.

Key Target Audience:

• Nickel Manufacturers

• Product Suppliers

• Emerging Companies

• Consulting Firms 

• Investment Banks

• Government Bodies & Regulating Authorities