Alkaline Battery Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Alkaline batteries typically consist of zinc metal and manganese dioxide as electrodes. These batteries offer an enhanced leakage resistance, fixed voltage offering, and higher energy density than zinc carbon batteries. Alkaline batteries are environment-friendly and perform substantially well at high and low temperatures. These batteries are available in various sizes, including AA, AAA, C, D, and others, and are used as per the requirement of different high and low drain operations. Most commonly, these batteries are used in electronics, electronic toys, wireless devices, clocks, etc. The global alkaline battery market includes players engaged in developing and launching various alkaline battery technologies and products.  The alkaline battery market is projected to witness growth at a compounded annual growth rate (CAGR) of 2.5% during the forecast period of 2022-2030.

 

Growth Drivers:

According to the U.S. Bureau of Labor Statistics, the average spending per consumer witnessed an increase of 1.9% in 2018 from 2017. Due to the growing industrialization and surging number of employment opportunities across the globe, consumers' purchasing power and spending have augmented dramatically in recent years. Consequently, the demand for consumer electronics gadgets such as watches, radios, smoke detectors, electronic games, telephones, portable stereos, battery-powered trimmers, toothbrushes, toys, and game controllers has also witnessed a sharp rise. This ultimately leads to enhanced demand and use of alkaline batteries in devices and is expected to significantly propel the overall market for alkaline batteries in the upcoming years.

In the last few years, governments of major developed and developing nations have been focusing immensely on developing and updating their respective power generation, transmission, and distribution infrastructure. This is in line with the ever-increasing demand for electricity across the globe. In appliances, alkaline batteries form an integral part of the power source, which is why the growing electricity demand and the developing power infrastructure across the globe are slated to create ample growth opportunities for the market during the forecast period.

Moreover, the leading players in the market are seen to be greatly emphasizing increasing their R&D activities to introduce technologically advanced products into the market. They are currently putting colossal efforts on developing batteries with improved energy efficiency and longer life and decreasing the overall alkaline battery manufacturing cost. These growing R&D activities and new product launches by market players are anticipated to bode well for the growth of the global alkaline battery market in the next few years, especially during the forecast period of 2022-2030.

Furthermore, the escalating need and adoption of batteries in low power-supply areas, the proliferating demand for alkaline batteries in day-to-day consumer electronics due to its prolonged activity, and the increasing replacement of old zinc-carbon batteries with alkaline batteries, especially in the developing countries across the globe are among other primary factors augmenting the growth of the global alkaline battery market.

However, the high cost of alkaline batteries, the burgeoning competition from lithium-ion batteries, which have more energy density, and concerns pertaining to the leakage of hazardous liquids from damaged batteries are a few factors anticipated to restrict the growth of the global alkaline battery market during the forecast period of 2022-2030.

Alkaline Battery Market Segmentation:

By Product Type:

·         Primary Battery 

·         Secondary Battery

 

By Battery Size:

·         AA

·         AAA

·         C

·         D

 

By Application:

·         Digital Products

·         Household Small Appliances

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Alkaline Battery Market: Product Type Review:

Based on product type, the global alkaline battery market is segmented into primary battery and secondary battery. The primary battery segment acquired the largest share of the market in 2021, and the trend is expected to continue over the forecast period of 2022-2030. The high demand and usage of primary alkaline batteries in a wide variety of consumer electronics and military applications due to their low cost and eco-friendly attributes is the major factor attributable to the large share of this segment.

 

Alkaline Battery Market: Battery Size Review:

Based on battery size, the market is classified into AA, AAA, C, and D. The AA segment is predicted to register the highest CAGR in the market during the forecast period of 2022-2030, predominantly due to its long-lasting life and higher storage capacity.

 

Alkaline Battery Market: Application Review:

Based on application, the market is categorized into digital products, small household small appliances, and others. The digital products segment held a major chunk of the market in 2021. The segment is expected to remain dominant throughout the forecast period, mainly owing to the rising demand for alkaline batteries in computers, smartphones, laptops, GPS units, and MP3 players.

 

Regional Outlook:

The alkaline battery research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

The North American region captured the largest global alkaline battery market share in 2021, followed by Europe and the Asia Pacific. The region is projected to maintain its dominance further in the market throughout the forecast period owing to the burgeoning demand for energy and the presence of well-established alkaline battery manufacturers and suppliers in the region. The U.S. and Canada stand as the leading contributors to the growth of the market in the region.

 

The Asia Pacific region is poised to emerge as the fastest-growing regional market for alkaline batteries during the forecast period. The usage of day-to-day household appliances consisting of alkaline batteries in the region is high due to the region's large and ever-increasing population base. This is one of the major factors driving the growth of the alkaline battery market in the region. Moreover, the region is also witnessing a massive shift from carbon-zinc batteries to alkaline batteries, which is expected to bring about tremendous growth opportunities for the market in the forthcoming years. Apart from this, factors such as the high production of and investment in alkaline batteries by major countries in the region, the escalating usage of the secondary rechargeable alkaline batteries, and the expansion of manufacturing facilities of manufacturers to the developing economies of the region are also substantially fueling the growth of the market in the Asia Pacific region. India, China, Japan, South Korea, Thailand, and Indonesia are among the major contributors to the growth of the market in the region.

 

The Middle East & Africa region is predicted to experience robust growth in the alkaline battery market during the forecast period. This can be attributed to the rising investments by countries such as Kuwait, Qatar, Bahrain, and Saudi Arabia in the expansion of manufacturing facilities for alkaline batteries in the region.

 

The report also identifies the country market outlook for alkaline battery, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

 

Key Companies in Alkaline Battery Market:

The research report offers a competitive analysis of prominent companies operating in the global alkaline battery market. Some of the leading players profiled in the market research report include:

·         Toshiba International Corp.

·         Zhejiang Mustang Battery Co. Ltd.

·         Energizer Holdings Inc

·         GP Batteries International Limited

·         VARTA Consumer Batteries GmbH & Co. KGaA

·         Panasonic Corporation

·         Duracell Inc

·         Nanfu

·         PKCELL

·         EVE Energy Co. Ltd.

·         Camelion Batterien GmbH

·         Gold Peak Industries Limited

·         Sanyo

·         Sony

·         Maxell Holdings Ltd.

·         FDK Corporation

·         GPB International Limited

·         Other Players