The global alkaline battery is expected to reach USD 6,772.4 Million by the end of 2024 from USD 5,976.1 Million in 2018. Further, global alkaline battery market is predicted to thrive at a CAGR of 2.0% over the forecast period. The drivers of growth will vary by region. Growth in developing areas such as China and Japan will result from strong economic growth and solid demand for battery-enabled consumer electronic products. Further, the high consumption rate of consumer electronics and high net worth income of the population are major factors that are driving the demand for alkaline batteries in the developed region. In addition to this, the alkaline battery market size is projected to witness a Y-O-Y growth of 1.9% in 2024 as compared to previous years.
Growth Drivers – Alkaline Battery Market
Emerging Applications of Alkaline Battery
In the world today, people cannot live without technologies such as televisions, air conditioners, and others. The alkaline battery has been powering numerous devices over many years. However, with the development of new battery technologies such as lithium-ion batteries, demand for the alkaline battery has weakened across the globe. But, few remarkable emerging applications of alkaline battery are expected to keep alkaline battery demand positive in upcoming years. These applications are home automation, medical devices, fitness tracking devices, and others.
Growing Toy Sales Globally
Alkaline batteries are ideal for toys. Alkaline batteries can be used for remote-controlled cars or for a video game controller. Their long-lasting capacity makes them a superior choice for toys. Since the global toy industry is on the rise and toy sales in the United States, the world’s largest toy market, grew by 1 percent to $20.7 billion in 2017. Further, this growth in toys industry is likely to drive the expansion of alkaline battery market in upcoming years.
Technological Advancements in Alkaline Battery
Alkaline battery manufacturing companies are witnessing a decline in sales and are continuously making advancements in their batteries to overcome these declining sales. Many companies are advancing their batteries to increase their shelf life, for instance, a start-up company Basalt is claiming that they are developing a solid-state alkaline battery that can replace lithium-ion batteries. Such advancements in alkaline battery technology are projected to bolster the growth of alkaline battery market in the near future.
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Barriers – Alkaline Battery Market
Rising Popularity of Alternative Technologies
In this technologically advanced world, demand for portable devices is at a peak. Alkaline batteries are heavy in comparison to its alternatives such as lithium batteries. Lithium batteries are much lighter than alkaline batteries and are a great convenience for portable devices. This weight limitation of alkaline batteries is acting as a restraint factor for the growth of alkaline battery market.
Market Trends – Alkaline Battery Market
Alkaline battery manufacturers are also changing their battery packaging technique to offer more convenience to their customers. Panasonic Corp. has launched their alkaline batteries in packs of 10, believing that new package size was especially practical for distributors, since it allows more exact calculations.
The alkaline battery type market is segmented into primary alkaline battery and rechargeable alkaline battery. In this segment, the primary alkaline battery segment will contribute a market share of 76.8% in 2018. alkaline battery market for the primary segment was totaled at USD 4,592.6 Million in 2018 and is predicted to thrive at a CAGR of 1.4% from 2019 to 2024. In terms of volume, the market for primary alkaline battery segment was calculated at 5,490.9 Million Units in 2018.
In the size segment, the alkaline battery market is sub-segmented into 9V, AA, AAA, and others. In this segment, AA-size alkaline battery segment is expected to grow at CAGR of 1.9% during the projected period. The alkaline battery market for AA size battery segment is expected to reach USD 2,152.1 Million by the end of 2024. Based on volume, the alkaline battery market for AA size segment was valued at 3,383.9 Million Units in 2018.
Moreover, based on the application, the alkaline battery market is further sub-segmented into a remote control, consumer electronics, toys, and others. In this segment, consumer electronics segment is expected to grow at a CAGR of 2.2% over the forecast period. alkaline battery market for consumer electronics segment is expected to reach USD 3,712.0 Million by the end of 2024 from USD 3,244.8 Million in 2018. In addition to this, alkaline battery market for consumer electronics segment value is projected to witness a Y-O-Y growth of 2.0% in 2024.
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the alkaline battery market, North America is projected to capture a large market share over the forecast period. North America alkaline battery market is expected to reach USD 2,834.1 Million by the end of 2024. Further, the market of North America alkaline battery will be receiving an opportunity of USD 132.0 Million between 2019 & 2024. In addition to this, North America alkaline battery market value is projected to witness a Y-O-Y growth of 0.8% in 2024 as compared to previous years. The North American countries are the major contributors to the revenues of the alkaline battery market. The high consumption rate of consumer electronics is one of the major factors that are driving the demand for alkaline batteries in the North America region.
The report also covers detailed competitive analysis of major market players of the global alkaline battery market, such as Duracell, Energizer Holdings, Panasonic Corporation, Toshiba, GP Batteries International Limited, FDK Corporation, Maxell Holdings Ltd., Sony, Samsung Electronics, Zhongyin (Ningbo) Battery and others prominent players. The alkaline battery market is witnessing a wide range of industry activities such as Product launch, advancement, acquisition, and partnership across the globe. For instance, on 24th May 2017, Panasonic Corporation introduced its powerline series of alkaline batteries in a whole new packaging in packs of 10 batteries. This initiative was meant to offer more convenience to industrial customers since packs of 10 is more practical for both customers and distributors.
- Primary Battery
- Rechargeable Battery
- Remote Control
- Consumer Electronics
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
• Energizer Holdings
• Panasonic Corporation
• GP Batteries International Limited
• FDK Corporation
• Maxell Holdings Ltd.
• Samsung Electronics
• Zhongyin (Ningbo) Battery
• Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in the alkaline battery market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global alkaline battery market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Alkaline Battery Industry Report
• What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?