Enjoy complimentary customisation on priority with our Enterprise License!
The alkaline battery market size is forecast to increase by USD 2.18 billion, at a CAGR of 4.44% between 2023 and 2028. The market growth analysis depends on several factors such as the growing demand for alkaline batteries replacing zinc carbon batteries, the development of recyclable alkaline batteries, and the increasing number of mergers and acquisitions in the primary battery market.
For More Highlights About this Report, Download Free Sample in a Minute
Increasing number of mergers and acquisitions is the primary trend shaping market growth. Align with market trends and analysis, technology and corporate tie-ups are key factors that help market players expand their market shares. Collaborations also help market players gain technical expertise and combine their resources to develop sophisticated and competitive products and solutions. Such corporate partnerships not only increase the revenue earned by companies but also reduce the competition in the market.
Moreover, the primary battery market is highly consolidated and is dominated by a few companies, such as Energizer Holdings Inc., The Duracell Co., Panasonic Holdings Corp., and Spectrum Brands Holdings Inc. Further, many M&A activities are happening in the global alkaline battery market, such as those between The Duracell Co. and Berkshire Hathaway, as well as Spectrum Brands Holdings Inc. and VARTA, which will act as a driver for the market. Thus, such M&A activities will drive market growth during the forecast period.
Consumer electronics represent a crucial market segment in the global alkaline battery market, as alkaline batteries play a pivotal role in powering a diverse array of devices that have become indispensable in daily life. Alkaline batteries are widely used in consumer electronics and are used in a variety of devices. Portable devices, such as remote control devices and flashlights, as well as digital cameras, rely heavily on alkaline batteries to power them.
Get a glance at the market contribution of various segments Download PDF Sample
Moreover, another reason for the increase in alkaline battery demand is the growing popularity of personal electronic gadgets. Furthermore, alkaline batteries offer convenience in terms of easy availability and long-term usage without the need for frequent replacement, making them a popular choice in the consumer electronics market segment. Thus, such factors in the consumer electronics segment will drive the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Technological advancements in North America will lead to the replacement of alkaline batteries with alternative chemistries. The US is a relatively mature market compared with the emerging markets. Further, prominent market players such as Battery Specialties, The Duracell Co., Energizer Holdings Inc., Spectrum Brands Holdings Inc., and Toshiba Corp. are based in the US. Key vendors in North America, such as Energizer Holdings, focus on R&D to launch technologically advanced rechargeable products. Thus, such factors will drive the growth of the market in the region during the forecast period.
Favorable characteristics of alkaline batteries is the key factor driving market growth. Alkaline batteries have favorable characteristics such as higher capacity, longer shelf life, and leak resistance. These batteries are available in different sizes (AAA, AA, C, D, and 9V) and are suitable for heavy-duty and general-purpose applications, such as remote control devices, clocks, radios, Bluetooth mouse, electronic toys, electric shavers, and trimmers. The adoption of alkaline batteries has also increased as they are very reliable and effective.
Moreover, alkaline batteries can power devices for approximately four months, after which they need to be replaced. The need for replacing these batteries generates a perpetual demand in the global alkaline battery market. Alkaline batteries offer almost the same benefits as rechargeable batteries but at a lower price. Such advantages drive the growth of the market during the forecast period.
The rising cost of raw materials is a challenge that affects market growth. The increasing scarcity of the raw materials used in alkaline batteries, coupled with the growing demand for alkaline batteries, has increased their cost. This has increased the manufacturing costs of market players and reduced their profit margins. The primary raw materials used in alkaline batteries are zinc and electrolytic manganese dioxide (EMD).
Additionally, EMD, which is used as an electrolyte in alkaline batteries, is also expensive. Moreover, it should be pure as it determines the performance of the battery. The conversion of manganese oxide ores to EMD and its purification are complex processes. These processes demand heavy investment. Such factors will gradually encourage vendors to manufacture alternate chemistries. Thus, such factors may impede market growth during the forecast period.
The market research report includes the adoption lifecycle of the market growth and forecasting, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market forecast and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
|
Alkaline Battery Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
174 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.44% |
|
Market growth 2024-2028 |
USD 2.18 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.0 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 37% |
|
Key countries |
US, China, Japan, UK, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Battery Specialties, Camelion Battery Co. Ltd., Dongguan Large electronics Co Ltd., Dorcy International Inc., Energizer Holdings Inc., Eveready Industries India Ltd., FDK Corp., Fujian Nanping Nanfu Battery Co Ltd., Gold Peak, Kyoto Japan Tire Group, Maxell Holdings Ltd., Panasonic Holdings Corp., PMBL Ltd., Shenzhen PKCELL Battery Co Ltd., Spectrum Brands Holdings Inc., The Duracell Co., Toshiba Corp., UPERGY, VARTA AG, and Zhejiang Mustang Battery Co Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.