Press release
Global Alkaline Battery Market is anticipated to flourish at notable CAGR of 2.0 % By 2024 |Top Players – Duracell, Energizer Holdings, Panasonic Corporation, Toshiba, GP Batteries International Limited, FDK Corporation
Alkaline Battery Market
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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 global alkaline battery market size is projected to witness a Y-O-Y growth of 1.9% in 2024 as compared to previous years.
Market Insights
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 global 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.
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 global alkaline battery market.
Market Trends – Alkaline Battery Market
Packaging Technique
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.
Segmentation
By Type:
- Primary Battery
- Rechargeable Battery
By Size:
- 9V
- AA
- AAA
- Others
By Application:
- Remote Control
- Consumer Electronics
- Toys
- Others
By Geography:
- 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)
Competitive Landscape
The report profiles various major market players such as
• Duracell
• Energizer Holdings
• Panasonic Corporation
• Toshiba
• GP Batteries International Limited
• FDK Corporation
• Maxell Holdings Ltd.
• Sony
• Samsung Electronics
• Zhongyin (Ningbo) Battery
• Other Major & Niche Players
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Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Barriers in Global Alkaline Battery Market
3. Global Alkaline Battery Market Trends
4. Opportunities in Global Alkaline Battery Market
5. Recent Industry Activities, 2018
6. Porter's Five Forces Analysis
7. Market Value Chain and Supply Chain Analysis
8. Global Alkaline Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
9. Global Alkaline Battery Market Segmentation Analysis, By Type
9.1. Introduction
9.2. Market Attractiveness, By Type
9.3. BPS Analysis, By Type
9.4. Primary Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
9.5. Rechargeable Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
10. Global Alkaline Battery Market Segmentation Analysis, By Size
10.1. Introduction
10.2. Market Attractiveness, By Size
10.3. BPS Analysis, By Size
10.4. 9V Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
10.5. AA Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
10.6. AAA Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
10.7. Other Battery Market Value (USD Million), Market Volume (Million Units), Forecast & Y-o-Y Growth Analysis, 2018-2024
More Info@@
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