Pune, India, April 29, 2021 (GLOBE NEWSWIRE) -- The global alkaline battery market size is expected to reach USD 10.86 billion by 2028, exhibiting a CAGR of 4.9% during the forecast period. The growing demand for electronics among consumers such as telephones, portable stereos, watches radios, smoke detectors, electronic games, and others will have an excellent impact on the market growth, states Fortune Business Insights, in a report, titled “Alkaline Battery Market, 2021-2028.” The market size stood at USD 7.58 billion in 2020 and USD 7.76 billion in 2021.
COVID-19 Impact:
Temporary Shutdown of Factories to Disrupt Alkaline Battery Industry amid Coronavirus
The spread of coronavirus interrupted the production and sales of batteries, which, in turn, caused a massive loss for the global market. Due to strict policies, such as nation-wide lockdowns and restrictions on transportation to contain the virus has slumped the alkaline battery market share. Moreover, the surging cases of coronavirus have led to a decline in the number of battery units produced while also hampering the import and export activities in various regions. However, government plans and tactics to deal with the rising cases coupled with ease on industrial operations can simultaneously stabilize trades and elevate businesses.
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Market Segments:
Based on the product, the alkaline battery market is classified into primary and secondary. The primary battery segment is expected to hold the dominant share in the global market. The dominance is due to the increasing applications of non-rechargeable batteries in electronics products and household appliances.
Based on the size, the market is divided into AA, AAA, 9 volts, and others. The AA segment is expected to experience significant growth due to its higher storage capacity and long-lasting life. The AAA segment is expected to hold a considerable share due to increasing applications in smaller and portable devices, including MP3 players, TV remote controls, digital cameras, and others.
The market is categorized into remote control, consumer electronics, toys & radios, and others based on application. The consumer electronics segment is expected to account for a substantial share market due to the increasing demand for alkaline batteries in laptops, computers, smartphones, MP3 players, and GPS units.
The other segment, which includes cameras, entertainment, alarm clocks, flashlight, and tracking devices, is predicted to expand radically during the forecast period due to its growing demand.
Geographically, the market is classified into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
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The report on the alkaline battery market discloses:
- Excellent insights into the market
- Systematic data with detailed analysis
- Market dynamics and aspects demonstrating the development
- Meticulous information about vital players in the market
- Procured statistics about dominant regions
- Important information on COVID-19 Pandemic
Driving Factor:
High Consumer Spending to Contribute Market Growth
The growing consumer spending on electronic gadgets will favor the growth of the market during the forecast period. Consumer spending attributes to a large percentage of the GDP of a country. With the increased disposable income, consumers are spending massively on appliances and gadgets, hence aiding this market. As per the U.S. Bureau of Labor Statistics, the average expenditures per consumer in 2018 was USD 61,224, an increase of 1.9% from 2017. Moreover, consumer electronics' growing popularity, including battery-powered trimmers, toothbrushes, toys, and game controllers, will intensify the alkaline battery market size in the foreseeable future.
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Key Development:
February 2019: Duracell, a major producer of smart power systems and batteries, launched a new alkaline battery, Duracell Ultra. The battery offers up to 100 percent more power due to its optimized design.
The Report Lists the Key Companies in this Alkaline Battery Market:
- Duracell Inc. (US)
- Energizer Holdings (US)
- Camelion Batterien GmbH (Germany)
- Gold Peak Industries (Holdings) Limited (Hong Kong)
- Sanyo (Japan)
- Sony (Japan)
- Maxell Holdings, Ltd. (Japan)
- Toshiba International Corp (US)
- Zhejiang Mustang Battery Co., Ltd. (China)
- Panasonic Corporation (Japan)
- FDK Corporation (Japan)
- GPB International Limited (Germany)
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ALKALINE BATTERY: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2021-2028
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on Alkaline Battery Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Alkaline Battery Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Primary Alkaline Battery
- Secondary Alkaline Battery
- Market Analysis, Insights and Forecast – By Size
- AA
- AAA
- 9 Volt
- Others
- Market Analysis, Insights and Forecast – By Application
- Remote Control
- Consumer Electronics
- Toys & Radios
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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