USD 7.81 Billion
Report ID: SQSG20D2008 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 91 | Figures: 76
Alkaline Battery Market was valued at USD 7.81 Billion in 2021, and it is expected to reach a value of USD 10.81 Billion by 2028, at a CAGR of 4.75% over the forecast period (2022 - 2028).
An alkaline battery is a kind of not reusable and changeable battery that use zinc and magnesium dioxide as electrodes and the electrolyte used is any one of potassium or sodium hydroxide. Alkaline batteries are densely packed with energy and have a worthy performance at standard temperatures. It has a longer lifecycle, less chance of leakage, and improved stability. Alkaline batteries are used in various devices such as toys, home appliances, and other devices. Vehicles and other industrial processes also use alkaline batteries. Growing demand for electronic merchandise and expenditure on these are propelling the demand of the alkaline battery market through the analysis period.
US Alkaline Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.81 Billion
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The Global Alkaline Battery Market is segmented based on Product, Size, Application, and Region. Based on Product, the Alkaline Battery Market is segmented into Primary Batteries, Secondary Batteries. Based on Application, the Alkaline Battery Market is segmented into AA, AAA, 9 volts, Others. Based on Application, the Alkaline Battery Market is segmented into Remote Control, Consumer Electronics, Toys & Radio, Others. Based on region, the global Alkaline Battery market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Alkaline Battery Market Analysis by Product
In 2021, the primary battery segment held the lion’s share in the alkaline battery market and the segment is divided into the primary battery and secondary battery markets. This supremacy is due to the wide variety of applications of these batteries in various household and electronics components. Consumer spending patterns suggest a stiff growth in the consumption of electronic components which reflects in the primary battery market share.
The secondary battery market share is expected to grow significantly in the coming period. Increasing usage of various gadgets such as watches, flashlights, cameras, and other products will inflate the demand for alkaline batteries, and this will boost the alkaline battery market growth during the analysis period.
Alkaline Battery Market Analysis by Size
The alkaline batteries size is segmented into AA, AAA, 9 Volts, and other various dimensions. The AA battery size leads the market segment in the year 2021 and 9 volt batteries are expected to grow at an unprecedented rate during the analysis period. Its large power storage capacity and long lifecycle increase these batteries demand in various portable and mobile devices. Increasing consumption of tv remotes, digital cameras, and portable stereos will help to grow the market segment in the coming period.
Alkaline Battery Market Analysis by Application
There are various applications of alkaline batteries in our day-to-day life and the market is segmented into Remote Control, Consumer Electronics, Toys & Radio, and others based on their application. The consumer electronics segment is said to control the largest alkaline batteries market share in the year 2021 and the radio & toys segment is anticipated to grow at a horse pace during the analysis period. Growing consumer demand for various electronic products is the major reason for the dominance of this segment and this will remain the same in the future too. With increasing income and demand for luxury products, the alkaline battery market will enjoy growth throughout the analysis period.
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In 2021, the North American region accounted for 51% of market revenue, which is the largest portion of the alkaline battery market. It’s because the growing demand for consumer electronics products in the region and the use of alkaline batteries in the field of healthcare instruments, military objects, and various industries will contribute to North America’s supremacy in the alkaline battery market throughout the analysis period.
The Asia Pacific is expected to show tremendous growth after North America as it accounts for the second-largest market share followed by Europe in the alkaline battery market. Factors fuelling the market growth is the increasing demand for portable electronic goods in the region and this will remain the same in the coming period and propel the alkaline market growth.
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Alkaline Battery Market Driver
Cost-effective, durable, and long-life cycle is the major driving factor.
Alkaline Battery Market Restraint
Rechargeable batteries are a major competitor and slow down-market growth.
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The Alkaline Battery market is relatively fragmented, with a high level of competition. Few large players, like Duracell Inc., Energizer Holdings Inc., and EnerSys, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Alkaline Battery Market Top Player’s Company Profiles
Alkaline Battery Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, alkaline batteries are densely packed with energy and have a worthy performance at standard temperatures. Based on Product, the market is segmented into Primary Batteries, Secondary Batteries. Based on Application, the market is segmented into AA, AAA, 9 volts, others. Based on Application, the market is segmented into Remote Control, Consumer Electronics, Toys & Radio, Others. In 2021, the North American region accounted for 51% of market revenue, which is the largest portion of the alkaline battery market, and the Asia Pacific will show a tremendous growth followed by the Europe continent in the field of the alkaline battery market. Growing innovation in the technology and advancement of alkaline batteries are the major market trend. The increased use of carbon in the cathode blend to increase life cycle and power efficiency is a recent development in alkaline batteries. The increased power and life cycle will drive the market growth of the alkaline battery market during the forecast period.
|Market size value in 2021||USD 7.81 Billion|
|Market size value in 2028||USD 10.81 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Alkaline Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Alkaline Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20D2008