PUBLISHER: SkyQuest | PRODUCT CODE: 1183324
PUBLISHER: SkyQuest | PRODUCT CODE: 1183324
Global Alkaline Battery Market was valued at USD 7.81 Billion in 2021, and it is expected to reach a value of USD 10.81 Billion by 2028, at a CAGR of 4.75% over the forecast period (2022 - 2028).
Alkaline batteries are increasingly being used in locations without access to regular power sources and for tasks requiring lower voltage thanks to the global alkaline battery market. The demand for alkaline batteries is being driven by products like radios, toys, tracking devices, flashlights, lanterns, games, watches, wall clocks, calculators, cameras, portable stereos, telephones, tape players, and compact disc players, among others.
Top-down and bottom-up approaches were used to estimate and validate the size of Global Alkaline Battery market used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global Alkaline Battery Market is segmented based on Product, Size, Application, and Region. Based on Product, the market is segmented into Primary Batteries, Secondary Batteries. Based on Application, the market is segmented into AA, AAA, 9 volts, Others. Based on Application, the market is segmented into Remote Control, Consumer Electronics, Toys & Radio, Others. Based on region, the global Alkaline Battery market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Since most consumer electronics, including toys, radios, and remote controls, use alkaline batteries, the demand for these products indirectly affects the price of alkaline batteries. During the forecast period, a consistent increase in growth is anticipated for this market due to the growing dependence on gadgets and electronic appliances. Future growth opportunities for this market are anticipated to be brought about by the rising popularity of smart homes, home automation, and consumer IoT.
Restraint
In contrast to non-rechargeable batteries, which have a negative impact on the global alkaline battery market, rechargeable batteries offer high power density, high discharge rate, good low-temperature performance, are more cost-effective, and are energy-efficient. The widespread use of lithium-ion batteries is a prime illustration of the rising popularity of rechargeable batteries. Consumers prefer rechargeable batteries over alkaline batteries, which are typically non-rechargeable, because they are more effective and reliable. Therefore, the market's growth in the upcoming years will be constrained by the rising demand for rechargeable batteries.
Market Trends
In laptops and desktop computers, clocks and memory are powered by alkaline batteries. The need for backup power during an emergency is urgent for applications such as clean water, medical care, emergency lighting, communications, and electrical services. Blackouts and power outages increase the need for power backup because of the weather's unpredictability, which includes storms, hurricanes, cold and ice, and tornadoes. Alkaline batteries would be driven in the global market by the growing demand from commercial applications such as data centers, telecom packaging plants, manufacturing plants, commercial buildings, agricultural operations, and processing facilities.