The new report by Expert Market Research titled, ‘Global Alkaline Battery Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global alkaline battery market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 0%
The rising application of alkaline battery in household appliances and everyday electronic gadgets including clock, radio, MP3 player, digital camera, electric trimmer, and television remote, among others is driving the market growth. Meanwhile, the growing popularity of electronic toys among children is likely to propel the demand for alkaline batteries.
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Furthermore, the market is anticipated to be aided by the rising disposable income, rapid urbanisation, and growing use of alkaline battery-based electronic gadgets in daily activities. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the increasing working-class population in India and China, coupled with the rising standards of living in the region.
Industry Definition and Major Segments
Alkaline battery is defined as a power cell which involves the reaction between zinc and manganese oxide and is used to provide power to a number of modern electronic items. Moreover, alkaline battery carries an alkaline electrolyte which decreases the corrosion of the cell making it live longer. Major components of this product include cathode, anode gel, steel can, seal, separator, and current collector.
By type, the market can be bifurcated into:
- Primary
- Secondary
Based on application, the market is segmented into:
- Consumer Electronics
- Toys
- Others
The regional markets for alkaline battery include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The growing research and development (R&D) activities by the major market players to bolster the standard of living among the middle-class population is likely to be a major trend in the market. In addition to this, the increasing sales of high-tech and modern consumer electronics will further propel the demand for alkaline batteries in the forecast period. Furthermore, the development of the retail sector will lead to the easy availability of alkaline batteries, which is anticipated to provide impetus to the market in the forecast period. The market will further be aided by the rapid development of modern and technologically driven toys for children. This will boost the sales of alkaline batteries in the forecast period.
Key Market Players
The major players in the market are Duracell Inc, Panasonic Corporation, Energizer Holdings, Inc., GPI International Limited, and Nanfu Battery, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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