Alkaline Battery Market Size [2022-2028] worth USD 10.86 Billion by 2028 | Fortune Business Insights
According to Fortune Business Insights, the global alkaline battery market size is projected to reach USD 10.86 billion by 2028 from its value USD 7.76 billion in 2021, at CAGR of 4.9% during forecast period.
Pune, India, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The alkaline battery market size to hit USD 10.86 billion by 2028. The global market size was valued USD 7.58 billion in 2020 and USD 7.76 billion in 2021. Technological advancement in Alkaline Batteries and increased demand for backup power to boost market demand. Also 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 alkaline battery market growth.
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.
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Forecast Period 2021 to 2028 CAGR
2028 Value Projection
USD 10.86 Billion
Market Size in 2020
USD 7.58 Billion
Historical Data for
No. of Pages
Alkaline Battery Market Size, Share and COVID-19 Impact Analysis, By Product (Primary and Secondary), By Size (AA, AAA, 9 Volt, and Others), By Application (Remote Control, Consumer Electronics, Toys & Radios, and Others) And Regional
High Consumer Spending to Contribute Market Growth
Surging Demand for Electronic Products in Asia Pacific
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 the alkaline battery 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.
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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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
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.
Asia Pacific is expected to increase rapidly during the forecast period due to growing consumer spending and demand for electronic products. As per the International Monetary Fund (IMF) estimate, in 2020, the developing and emerging economies in the region increased by 5.6% in 2019, which signifies a growth opportunity for consumer spending in the forthcoming years. Europe is likely to advance fundamentally during the forecast period due to increasing consumer electronics goods and gadgets. According to Statista Report 2020, the countries in Europe, such as Germany, the U.K., and France, held the leading positions in consumer expenditure. Thus, the demand for electronic gadgets coupled with increasing consumer spending will significantly enable the growth of the region's market.
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A List of Key Manufacturers Operating in the Global Market:
Camelion Batterien GmbH
Gold Peak Industries (Holdings) Limited
Maxell Holdings, Ltd.
Toshiba International Corp
Zhejiang Mustang Battery Co., Ltd.
GPB International Limited
Alkaline Battery Market Segmentation:
Toys & Radios
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Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on Alkaline Battery Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Alkaline Battery Market Analysis (USD Billion), Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Product
6.2.1. Primary Alkaline Battery
6.2.2. Secondary Alkaline Battery
6.3. Market Analysis, Insights and Forecast – By Size
6.3.3. 9 Volt
6.4. Market Analysis, Insights and Forecast – By Application
6.4.1. Remote Control
6.4.2. Consumer Electronics
6.4.3. Toys & Radios
6.5. Market Analysis, Insights and Forecast – By Region
6.5.1. North America
6.5.2. Latin America
6.5.4. Asia Pacific
6.5.5. Middle East and Africa
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