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The alkaline battery market share is expected to increase by USD 493.35 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 1.09%.
This alkaline battery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers alkaline battery market segmentations by product (primary battery and secondary battery) and geography (North America, Europe, APAC, South America, and MEA). The alkaline battery market report also offers information on several market vendors, including Camelion Batterien GmbH, Duracell Inc., Energizer Holdings Inc., FDK Corp., Gold Peak Industries (Holdings) Ltd., Maxell Holdings Ltd., Panasonic Corp., Spectrum Brands Holdings Inc., Toshiba International Corp., and Zhejiang Mustang Battery Co. Ltd. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increase in consumer spending is notably driving the alkaline battery market growth, although factors such as the threat of rechargeable batteries and alternative chemistries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the alkaline battery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Alkaline Battery Market Driver
The increase in consumer spending is a major factor driving the global alkaline battery market share growth. Consumer spending is an essential metric of the economic forecast. The number of earning members per family and disposable income has increased globally due to the growing urbanization and new employment opportunities. Such factors will support the sales of high-drain electronics, which will boost the demand for alkaline batteries. Many developing countries, such as Indonesia and Vietnam, have experienced high growth in consumer expenditure from 2015 to 2016. This growth is expected to increase during the forecast period. High consumption expenditure drives the alkaline battery market by encouraging the sales of electronic devices that use alkaline batteries. The employment of women has improved the income of many families and helped them increase their standard of living. In turn, the increased standard of living encourages people to buy electronic devices such as televisions, electronic toys, remote controls, and wall clocks that use alkaline batteries. The demand for alkaline batteries from consumer electronics due to high consumer spending is driving the global alkaline battery market.
Key Alkaline Battery Market Trend
The alkaline batteries replacing zinc-carbon batteries is another factor supporting the global alkaline battery market share growth. Zinc-carbon batteries were invented by Georges-Lionel Leclanch in 1866. They are categorized into two types Leclanch battery and zinc chloride battery. These batteries use ammonium chloride as the electrolyte. Although they were commonly used in many applications during the last century, they had drawbacks such as poor performance in low temperatures, low energy density, poor leakage resistance, and faster drainage. To overcome these challenges, Lewis Urry in 1949 developed alkaline batteries. Although alkaline batteries also contain zinc in their composition, they use potassium hydroxide as the electrolyte. These batteries have better capacity and offer better leak proofing compared with zinc-carbon batteries. Also, the zinc casing in zinc-carbon batteries degrades with time, resulting in battery leaks. Such advantages of alkaline batteries over zinc-carbon batteries have led to the replacement of the latter.
Key Alkaline Battery Market Challenge
The threat of rechargeable batteries and alternative chemistries will be a major challenge for the global alkaline battery market share growth. Primary batteries are not rechargeable and can be used until they are completely drained. These batteries are discarded after their use. But, in the case of secondary batteries, they are rechargeable and can be used multiple times. With the increasing amount of battery waste accumulating globally, vendors are shifting toward producing rechargeable batteries that cause less amount of waste and save raw material sources. Consumers are also gradually adopting secondary batteries despite their higher costs than primary batteries. The increasing adoption of rechargeable batteries in applications, such as smartphones, tablets, and laptops, has considerably lowered the sales of primary alkaline batteries. This led to the advent of secondary alkaline batteries. Therefore, the adoption of rechargeable batteries has been a significant challenge to the global alkaline battery market in the forecasted period.
This alkaline battery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global alkaline battery market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the alkaline battery market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the alkaline battery market encompasses successful business strategies deployed by the key vendors. The alkaline battery market is concentrated and the vendors are deploying growth strategies such as differentiating their product offerings through a clear and unique value proposition to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The alkaline battery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the alkaline battery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global renewable electricity market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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38% of the market's growth will originate from North America during the forecast period. US, UK, China, Germany, and Japan are the key markets for the alkaline battery market in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.
An increase in the sales of consumer electronics will facilitate the alkaline battery market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The alkaline battery market share growth by the primary battery segment will be significant during the forecast period. Primary alkaline batteries will retain their dominance in the market owing to their range of applications, easy availability, and stability in different climates and environments. The demand for these batteries is expected to remain steady for a few years owing to the limited number of batteries with equal performance batteries at comparable price points. Such factors are expected to boost the primary alkaline battery segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the alkaline battery market size and actionable market insights on post COVID-19 impact on each segment.
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Alkaline Battery Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 1.09% |
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Market growth 2020-2024 |
$ 493.35 million |
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Market structure |
Concentrated |
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YoY growth (%) |
0.81 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 38% |
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Key consumer countries |
US, UK, China, Germany, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Camelion Batterien GmbH, Duracell Inc., Energizer Holdings Inc., FDK Corp., Gold Peak Industries (Holdings) Ltd., Maxell Holdings Ltd., Panasonic Corp., Spectrum Brands Holdings Inc., Toshiba International Corp., and Zhejiang Mustang Battery Co. Ltd. |
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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 |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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