The global alkaline battery market is set to gain traction from the ongoing developments in batteries. It has resulted in the rising usage of carbon in the cathode mix to surge efficiency. The demand for alkaline batteries would further increase owing to their high-performance capabilities. The global alkaline battery market size was valued at USD 7.48 billion in 2019 and is projected to reach USD 10.71 billion by 2027, exhibiting a CAGR of 4.8% during the forecast period.
The emerging economies such as China and India are the major countries for electronic products in which batteries are used across the globe. As the COVID-19 spread is pushing China and then India towards lockdown, there is a decrease in the demand for spending on household products. With more countries announcing lockdowns to stop the COVID-19 spread, the consumer demand for electronic products remained steady in contrast to a steep fall in this type of battery products. Additionally, the sluggish demand due to a decrease in consumer spending across various applications has impacted the demand for the market.
The emergence of the COVID-19 pandemic is causing heavy losses of a wide range of industries. It has brought the production processes to a complete standstill. But, many companies have resumed their processes by maintaining social distancing and lowering their workforce. Unless a vaccine is created, the situation is likely to cause more disruptions in businesses. Our reports offer accurate information about the present market scenario.
The market consists of several big, small, and medium-sized enterprises. They are nowadays focusing on launching new products to attract more consumers and to gain a competitive edge. Presently, Gold Peak Industries (Holdings) Limited, Camelion Batterien GmbH, Energizer Holdings, and Duracell Inc. are in dominant positions. Below are two of the significant industry developments:
- February 2019: Duracell unveiled Duracell Ultra, its latest alkaline battery. It is capable of providing up to 100 percent more power. The company’s main aim was to satiate the rising need for power-hungry devices. Families can now rely on the new batteries to power their devices and toys with unstoppable and safe quality power.
- May 2017: Panasonic Corporation introduced its new Powerline series consisting of a pack of 10 alkaline batteries. Produced in Europe, they can have a long life, high reliability, and low self-discharge. They are being highly demanded by the distributors and original equipment manufacturers (OEMs).
Fortune Business Insights™ lists out the names of all the alkaline battery manufacturers operating in the global market. They are as follows:
- Duracell Inc. (US)
- Energizer Holdings (US)
- Camelion Batterien GmbH (Germany)
- Gold Peak Industries (Holdings) Limited (Hong Kong)
- Sanyo (Japan)
- Sony (Japan)
- Maxell Holdings, Ltd. (Japan)
- Toshiba International Corp (US)
- Zhejiang Mustang Battery Co., Ltd. (China)
- Panasonic Corporation (Japan)
- FDK Corporation (Japan)
- GPB International Limited (Germany)
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Drivers & Restraints:-
“Rising Consumer Spending on Electronic Products to Spur Growth”
Consumer spending is considered to be a very crucial part of gross domestic product (GDP) that maintains the economic stability of a country. Rising consumer spending on electronic products worldwide is a major factor that is set to propel the alkaline battery market growth in the coming years. The U.S. Bureau of Labor Statistics mentioned that in 2018, the average expenditure per consumer was USD 61,224. It shows a hike of up to 1.9% from 2017. Alkaline batteries are majorly used in electronic gadgets and household appliances. These factors would boost the market growth.
How will the COVID-19 Pandemic Affect Market Growth?
- The COVID-19 pandemic can pose a threat to the global market.
- This is set to occur because of the lockdown measures in the countries, such as India and China. These countries are the major producers of electronic products.
- There is a decline in the demand for spending on such products as the masses are buying only those items that are very essential.
“Consumer Electronics Segment to Lead Owing to Their High Demand Worldwide”
Based on application, the market is fragmented into remote control, toys & radios, consumer electronics, and others. Out of these, the consumer electronics segment procured 38.7% in terms of alkaline battery market share in 2019. This segment is likely to lead throughout the forthcoming years stoked by the high demand for alkaline batteries in GPS, MP3 players, smartphones, computers, and laptops. These products are exhibiting more popularity across the globe. The toys & radios segment is set to hold the second position fueled by the increasing usage of these batteries in walkie-talkies and several toys.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other Alkaline Battery Market trends. The report is available for sale on the company website.
“North America to Dominate Stoked by Rising Investments in Healthcare Sector”
Regionally, North America generated USD 3.46 billion in 2019 in terms of revenue. This growth is attributable to the contribution of the U.S. as it is experiencing higher consumer spending, as well as rising adoption of consumer electronic products. Apart from that, alkaline batteries are utilized in industrial, healthcare, and military applications. Also, the rising investments in the healthcare sector in this region would augment the market growth.
Regional Analysis for Alkaline Battery Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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TABLE OF CONTENT:-
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Alkaline Battery Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
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