The size of the alkaline battery market is worth around USD 10.86

Pune, India, September 21, 2022 (GLOBE NEWSWIRE) — According to the latest report published by Fortune Business Insights, the alkaline battery market size is projected to grow at a CAGR of 4.9% and reach USD 10.86 billion in 2028 from USD 7.76 billion in 2021 during the forecast period 2022 to 2028. Alkaline Battery Market size was assessed by about $7.58 billion in 2020. This vital information is presented by Fortune Business Insights™, in its report, titled “Alkaline Battery Market, 2021-2028”.

According to the analysis, the factors that will drive the growth of the market during the forecast period are the increasing demand among consumers for electronic products, such as telephones, portable stereos, watches, radios, smoke detectors, electronic games and others, which will have a excellent impact on the growth of the alkaline battery market. .

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Report Highlights:

Report Coverage Details
forecast period 2021-2028
Forecast period 2021 to 2028 CAGR 4.9%
2028 value projection $10.86 billion
base year 2020
Market size in 2020 $7.58 billion
Historical data for 2017-2019
Number of pages 220
Covered segments By Product (Primary & Secondary), By Size (AA, AAA, 9 Volt & Others), By Application (Remote Control, Consumer Electronics, Toys & Radios, & Others) Regional
growth controllers Increased consumer spending on electronics to spur growth
Key players aim to launch new alkaline batteries to strengthen their position

Drivers and Restrictions:

Consumer spending is considered a very important part of the gross domestic product (GDP) that maintains the economic stability of a country. Increasing consumer spending on electronic products around the world is a major factor driving the growth of the alkaline battery market in the coming years. The US Bureau of Labor Statistics mentioned that in 2018, the average spending per consumer was USD 61,224. It shows an increase of up to 1.9% from 2017. Alkaline batteries are mainly used in electronics and home appliances. These factors would drive the growth of the market.

Impact of COVID-19:

Temporary factory closures to disrupt alkaline battery industry amid coronavirus

The spread of the coronavirus disrupted the production and sale of batteries, which, in turn, caused a massive loss for the global market. Due to strict policies such as nationwide lockdowns and transportation restrictions to contain the virus, the alkaline battery market share has plummeted. In addition, the increase in coronavirus cases has caused a decrease in the number of battery units produced and, at the same time, hampered import and export activities in various regions. However, the government’s plans and tactics to deal with the rising cases, coupled with the ease of industrial operations, can stabilize businesses and lift businesses simultaneously.

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Market segments:

Based on the product, the alkaline battery market is classified into primary and secondary. The primary battery segment is expected to hold the dominant share in the global market. The predominance is due to the increasing applications of non-rechargeable batteries in electronic products and household appliances.

Based on size, the market is divided into AA, AAA, 9-volt, and others. The AA segment is expected to see significant growth due to its increased storage capacity and long shelf life. The AAA segment is expected to have a sizeable share due to the rise of applications in smaller, more portable devices, including MP3 players, TV remote controls, digital cameras, and others.

The market is categorized into remote control, consumer electronics, toys and radios, and others based on application. The consumer electronics segment is expected to account for a substantial share of the market due to growing demand for alkaline batteries in laptops, computers, smartphones, MP3 players and GPS units.

The other segment, which includes cameras, entertainment, alarm clocks, flashlights and tracking devices, is forecast to expand radically during the forecast period due to its increasing demand.

Geographically, the market is categorized into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.

Regional Analysis:

North America will dominate driven by growing investments in the health sector

Regionally, North America generated $3.46 billion in 2019 in terms of revenue. This growth is attributed to the contribution of the US, as it is experiencing increased consumer spending as well as increased adoption of consumer electronics. Other than that, alkaline batteries are used in industrial, healthcare, and military applications. In addition, the increasing investments in the health sector in this region would increase the growth of the market.

Asia Pacific, on the other hand, is expected to remain in second position due to growing demand for electronics. The International Monetary Fund (IMF), for example, stated that growth in emerging and developing Asian countries is projected to increase slightly to 5.8% in 2020 and 5.9% in 2021 from 5.6% in 2019. This shows that the increase in consumer spending would also help in the growth of the market in this region.

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Competitive landscape:

The market consists of several large, small and medium-sized companies. Today they are focusing on launching new products to attract more consumers and gain a competitive advantage. Currently, Gold Peak Industries (Holdings) Limited, Camelion Batterien GmbH, Energizer Holdings and Duracell Inc. hold the dominant positions. Below are two of the important developments in the industry:

  • february 2019: Duracell introduced Duracell Ultra, its latest alkaline battery. It is capable of providing up to 100 percent more power. The company’s main goal was to meet the growing need for power-hungry devices. Families can now rely on new batteries to power their devices and toys with safe, unstoppable quality energy.
  • May 2017: Panasonic Corporation introduced its new Powerline series which consists of a pack of 10 alkaline batteries. Produced in Europe, they can have a long service life, high reliability and low self-discharge. They are in high demand by dealers and original equipment manufacturers (OEMs).

A list of major manufacturers operating in the global market:

  • duracell inc.
  • Energizer Holdings
  • Camelion Batterien GmbH
  • Gold Peak Industries (shares) limited
  • Sanyo
  • Sony
  • Maxell Holdings, Ltd.
  • Toshiba International Corporation
  • Zhejiang Mustang Battery Co., Ltd.
  • panasonic corporation
  • F.D.K. Corporation
  • GPB International Limited

Alkaline Battery Market Segmentation:

By product:

By size:

By application:

  • Remote control
  • Consumer electronics
  • toys and radios
  • Others

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Table of Contents:

  • Introduction
    • Scope of the investigation
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Executive Summary
  • market dynamics
    • market indicators
    • market restrictions
    • market opportunities
  • Key ideas
    • Key Emerging Trends – For Major Countries
    • Latest technological advance
    • Regulatory landscape
    • Industry SWOT Analysis
    • Porter’s Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the alkaline battery market
    • Measures taken by the government to overcome the impact
    • Key developments in the industry in response to COVID-19
    • Potential opportunities and challenges due to the COVID-19 outbreak
  • Global Alkaline Battery Market Analysis (Billion USD), Outlook and Forecast, 2017-2028
    • Key Findings/Summary
    • Market analysis, information and forecast: by product
      • primary alkaline battery
      • Secondary alkaline battery
    • Market analysis, information and forecast: by size
    • Market analysis, information and forecast: by application
      • Remote control
      • Consumer electronics
      • toys and radios
      • Others
    • Market Analysis, Outlook and Forecast – By Region
      • North America
      • Latin America
      • Europe
      • Pacific Asia
      • Middle East and Africa
  • North America Alkaline Battery Market Analysis (Billion USD), Outlook and Forecast, 2017-2028
    • Key Findings/Summary
    • Market analysis, information and forecast: by product
      • primary alkaline battery
      • Secondary alkaline battery
    • Market analysis, information and forecast: by size
    • Market analysis, information and forecast: by application
      • Remote control
      • Consumer electronics
      • toys and radios
      • Others
    • Market analysis, information and forecast: by country

Continued…

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