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Alkaline Primary Batteries Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Alkaline Primary Batteries Market Size
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According to The Business Research Company's, The alkaline primary batteries market size has grown marginally in recent years. It will grow from $8.89 billion in 2023 to $9.05 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%. The growth in the historic period can be attributed to supply chain development, cost efficiency, consumer awareness, marketing and branding strategies, industrial applications.
The alkaline primary batteries market size is expected to see steady growth in the next few years. It will grow to $10.05 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to market expansion strategies, smart home technology growth, safety and durability enhancements, rising demand for portable devices, environmental sustainability. Major trends in the forecast period include smart home technology adoption, electric vehicle (ev) growth, safety and durability focus, digitalization of industries, renewable energy integration.
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Market Drivers and Trends:
During the forecast period, the increase in demand for battery-operated toys is expected to drive the demand for alkaline primary batteries. The use of primary batteries such as alkaline batteries in electronic toys is expected to drive the market. Battery-operated toys such as toy cars, dolls, robots, and drones are becoming popular. For example, in November 2022, according to OnBuy's report, a UK-based online marketplace, sales in their toys and games division have increased dramatically during the past three years, by more than 1772 percent. The growing popularity of battery-operated toys will continue to increase the demand for primary batteries. The increase in demand for battery-operated toys is expected to have a positive impact on the growth of the alkaline batteries market.
Change in packaging techniques for alkaline batteries is the latest trend in the global alkaline primary batteries market. Alkaline batteries battery manufacturers are changing their battery packaging techniques to offer more convenience to their customers. In the past, alkaline batteries were made with complex sealing systems thick steel outer cases, and end caps. A unique method was developed that allowed manufacturers to use thinner packaging materials and more efficient seals. More room was created for active materials within a given standard cell size, and that increased capacity. For instance, Panasonic Corp. has launched their alkaline batteries in packs of 10, believing that the new package size was especially practical for distributors since it allows more exact calculations.
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Major Key Players of the Market:
Samsung Electronics Co. Ltd., Ford Motor Company, Sony Corporation, Panasonic Holdings Corporation, Fujitsu Ltd., LG Chem Ltd., Toshiba International Corp., EVE Energy Co. Ltd., Spectrum Brands Holdings Inc., Energizer Holdings Inc., Rayovac Corp., Duracell Inc., Maxell Holdings Ltd., Zhejiang Mustang Battery Co. Ltd., VARTA Consumer Batteries GmbH & Co. KGaA, Ningbo Eastar Battery Co. Ltd., GP Batteries International Limited, Gold Peak Technology Group Ltd., Varta AG, FDK Corporation, Nanfu Battery Co. Ltd., Shenzhen Pkcell Battery Co.Ltd., Maxell Ltd., E-One Moli Energy Corp., Camelion Batterien GmbH, Ningbo GP&Sonluk Battery Co. Ltd., Excell Battery Co. Ltd., Zhejiang Yongjiu Power Science and Technology Co. Ltd., Taizhou Jiaojiang Shuangyang Battery Co. Ltd., Shenzhen Shirui Battery Co. Ltd.
Alkaline Primary Batteries Market 2024 Key Insights:
• The alkaline primary batteries market size is expected to see steady growth in the next few years. It will grow to $10.05 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%.
• Battery-Operated Toys Boost Demand For Alkaline Batteries
• New Alkaline Battery Packaging Techniques Offer Convenience And Increased Capacity
• Asia Pacific was the largest region in the alkaline primary batteries market in 2023
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