Alkaline Battery Market Size
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Alkaline Battery Market Analysis
The Alkaline Battery Market size is expected to grow from USD 7.22 billion by the end of this year to USD 10.62 billion after five years, at a CAGR of 8.03% during the forecast period (2023-2028).
- Over the medium term, high energy density, the more significant shelf life of alkaline batteries, their ability to operate at high temperatures, and their ease of recycling than other batteries are likely to drive the alkaline battery market.
- On the other hand, the increasing competition from lithium-ion batteries having more energy density is expected to restrain the alkaline battery market.
- Nevertheless, due to their affordability, the growth of consumer electronics such as microphones, smoke alarms, flashlights, remote control, etc., demand for alkaline batteries, and single-usage entails an opportunity for its market to grow.
- Because of its increasing demand for day-to-day consumer electronics, Asia-Pacific is expected to be the fastest-growing market for alkaline batteries during the forecast period.
Alkaline Battery Market Trends
Consumer Electronics Expected to Dominate the Market
- The primary alkaline battery also is known as disposable consumer batteries; owing to the numerous advantages of primary batteries, such as low cost, and wide applications across consumer electronics such as flashlights, calculators, clocks, and smoke alarms, the demand for primary alkaline batteries remains high, worldwide.
- Due to pent-up demand, policy initiatives, and premiumization scenarios, the consumer electronics & appliances segment is expected to surge in 2023 as firms plan to expand their capacities after combating the pandemic and introduce smart-age products. This could generate the requirement for alkaline batteries in the market.
- In 2023, Canon, as a part of the company's marketing strategy and to improve its market standing, the company declared to roll out the digital camera with improved functionalities soon in a bid to cater to the demand in the digital industry. This increase in the sales and utilization of digital cameras might increase the demand for alkaline batteries in the future.
- In 2022, the global military expenditure was approximately USD 2181.92 billion, which was higher than what countries spent in 2021, and increased by 3.7%. The rising demand for primary batteries in military applications and increased demand for consumer electronics are expected to drive the growth of the primary alkaline batteries segment.
- Moreover, many countries add electronic gear to their armies, such as torch lights, night visions, etc. This equipment will likely use primary alkaline batteries for their proper functioning, thus driving the market for alkaline batteries.
- Hence, the primary segment will likely be the largest in the alkaline battery market during the forecast period due to the above points.
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Asia-Pacific Expected to be the Fastest-Growing Market
- The Asia-Pacific region is in a transitional phase of moving away from carbon-zinc batteries to alkaline batteries. Many of the population that use day-to-day household appliances such as clocks, remote, etc., mainly uses alkaline batteries because of their low costs and safe disposal. Such trends are expected to increase the utilization of alkaline batteries in the region.
- Moreover, the manufacturers of alkaline batteries are focusing on expanding their business in developing countries. They are looking for growing market opportunities, which include the launch of new, low-cost products in the regions. These products are likely to drive the alkaline battery segment.
- Alkaline batteries are quite environment-friendly and can be easily recycled. It has been noted that almost all the batteries made by the major manufacturers are mercury-free and hence, do not pose any environmental pollution or hazard on disposal. This creates a buoyant demand for these batteries in Asia-Pacific since other rechargeable consumer batteries must be appropriately collected and recycled.
- The countries in the region, such as China, South Korea, and Japan, are slowly holding a significant share in the manufacturers and supplying alkaline batteries globally. In comparison, countries such as India and Indonesia are substantial users of alkaline batteries in the region. Also, in 2023, the reduction in inflation is expected to impact the growth of consumer electronic goods markets in countries such as India, Indonesia, and Malaysia, which is anticipated to increase the development of the Alkaline battery market.
- Hence, owing to the above points, Asia-Pacific is expected to be the fastest-growing market for alkaline batteries during the forecast period.
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Alkaline Battery Industry Overview
The alkaline battery market is moderately fragmented. Some of the key players in this market (in no particular order) include Panasonic Corporation, Duracell Inc, VARTA Consumer Batteries GmbH & Co. KGaA, GP Batteries International Limited, and Energizer Holdings Inc., among others.
Alkaline Battery Market Leaders
Energizer Holdings Inc
GP Batteries International Limited
VARTA Consumer Batteries GmbH & Co. KGaA
*Disclaimer: Major Players sorted in no particular order
Alkaline Battery Market News
- May 2022: A solar power developer, Pine Gate Renewables, signed an agreement with Urban Electric Power to facilitate rechargeable Zinc-Alkaline batteries of 4500 MWh for the next five years. The batteries are expected to give the utility a cost-effective energy storage solution with no thermal runaway fire risk. Hence, it would benefit the development of the alkaline battery market.
- March 2022: Alchemy Industrial and Urban Electric Power launched a residential energy storage system known as Ohm Core that would use rechargeable alkaline batteries to provide energy storage. Since Alkaline also lessens supply chain complications by incorporating recyclable materials, it would bolster its market growth in the forecast period.
Alkaline Battery Market Report - Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
126.96.36.199 Increase in deployment of Renewable Energy with Energy Storage Projects
188.8.131.52 Growth of Consumer Electronics across the world
184.108.40.206 Higher performance characteristics possess by Lithium-Ion Batteries
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.2.1 Consumer Electronics
5.2.3 Other Applications
5.3.1 North America
220.127.116.11 United States of America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Duracell Inc
6.3.2 Panasonic Corporation
6.3.3 Energizer Holdings Inc
6.3.4 GP Batteries International Limited
6.3.5 Nanfu Battery Company Limited
6.3.6 Euroforce Battery Co.
6.3.7 KoninklijkePhilips NV
6.3.8 VARTA Consumer Batteries GmbH & Co. KGaA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Ease of Recycling Battery Components
Alkaline Battery Market Research FAQs
What is the study period of this market?
The Alkaline Battery Market is studied from 2019 - 2028.
What is the growth rate of Alkaline Battery Market?
The Alkaline Battery Market is growing at a CAGR of 8.03% over the next 5 years.
What is Alkaline Battery Market size in 2028?
The Alkaline Battery Market is valued at 10 Billion USD in 2028.
Which region has highest growth rate in Alkaline Battery Market?
Asia Pacific is growing at the highest CAGR over 2019-2028.
Which region has largest share in Alkaline Battery Market?
North America holds highest share in 2022.
Who are the key players in Alkaline Battery Market?
Energizer Holdings Inc, GP Batteries International Limited, VARTA Consumer Batteries GmbH & Co. KGaA, Panasonic Corporation, Duracell Inc are the major companies operating in Alkaline Battery Market.
Alkaline Battery Industry Report
Statistics for the 2023 Alkaline Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Alkaline Battery analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.