Market Size of Alkaline Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Alkaline Battery Market Analysis
The Alkaline Battery Market size is expected to grow from USD 7.22 billion by the end of this year to USD 10.62 billion after five years, at a CAGR of 8.03% during the forecast period (2023-2028).
- Over the medium term, high energy density, the more significant shelf life of alkaline batteries, their ability to operate at high temperatures, and their ease of recycling than other batteries are likely to drive the alkaline battery market.
- On the other hand, the increasing competition from lithium-ion batteries having more energy density is expected to restrain the alkaline battery market.
- Nevertheless, due to their affordability, the growth of consumer electronics such as microphones, smoke alarms, flashlights, remote control, etc., demand for alkaline batteries, and single-usage entails an opportunity for its market to grow.
- Because of its increasing demand for day-to-day consumer electronics, Asia-Pacific is expected to be the fastest-growing market for alkaline batteries during the forecast period.
Alkaline Battery Industry Segmentation
Alkaline batteries are one of the types of batteries that use alkaline electrolytes, with zinc and manganese dioxide as electrodes. These batteries tend to have higher energy density and longer shelf life than zinc-carbon batteries of the Leclanché cell or zinc chloride types.
The alkaline battery market is segmented into type, application, and geography. By type, the market is segmented into primary and secondary. By application, the market is segmented into consumer electronics, toys, and others. By geography, the market is segmented into major regions such as North America, Europe, Asia-Pacific, South America and Middle-East and Africa. The market sizing and forecasts have been done for each segment based on revenue (USD).
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Alkaline Battery Market Size Summary
The alkaline battery market is poised for significant growth over the forecast period, driven by factors such as high energy density, extended shelf life, and the ability to operate in high temperatures. These batteries are also more easily recyclable compared to other types, which enhances their appeal. Despite facing competition from lithium-ion batteries, which offer higher energy density, the affordability of alkaline batteries and their widespread use in consumer electronics like microphones, smoke alarms, and remote controls present substantial growth opportunities. The Asia-Pacific region is anticipated to be the fastest-growing market, fueled by increasing demand for alkaline batteries in everyday consumer electronics.
The primary alkaline battery segment, known for its low cost and broad application in devices such as flashlights, calculators, and smoke alarms, continues to see high demand globally. The consumer electronics and appliances sector is expected to experience a surge, driven by pent-up demand and policy initiatives, which will likely boost the requirement for alkaline batteries. Additionally, the military's increasing reliance on primary batteries for equipment like torch lights and night vision devices is expected to further propel market growth. The Asia-Pacific region is transitioning from carbon-zinc to alkaline batteries, with manufacturers focusing on expanding their presence in developing countries. The region's demand is bolstered by the environmental benefits of alkaline batteries, such as being mercury-free and easily recyclable, making them a preferred choice in countries like China, South Korea, and Japan.
Alkaline Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increase in deployment of Renewable Energy with Energy Storage Projects
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1.5.1.2 Growth of Consumer Electronics across the world
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1.5.2 Restraints
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1.5.2.1 Higher performance characteristics possess by Lithium-Ion Batteries
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Primary
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2.1.2 Secondary
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2.2 Application
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2.2.1 Consumer Electronics
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2.2.2 Toys
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2.2.3 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States of America
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 Iran
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2.3.5.3 Qatar
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2.3.5.4 South Africa
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2.3.5.5 Nigeria
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2.3.5.6 Rest of Middle-East and Africa
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Alkaline Battery Market Size FAQs
What is the current Alkaline Battery Market size?
The Alkaline Battery Market is projected to register a CAGR of 8.03% during the forecast period (2024-2029)
Who are the key players in Alkaline Battery Market?
Energizer Holdings Inc, GP Batteries International Limited, VARTA Consumer Batteries GmbH & Co. KGaA, Panasonic Corporation and Duracell Inc are the major companies operating in the Alkaline Battery Market.
