The alkaline primary batteries market has experienced marginal growth, increasing from $8.89 billion in 2023 to $9.05 billion in 2024, with a compound annual growth rate (CAGR) of 1.8%. This modest growth in the historical period is attributed to developments in the supply chain, cost efficiency measures, heightened consumer awareness, strategic marketing and branding efforts, and increased usage in industrial applications. Moving forward, the alkaline primary batteries market is expected to maintain steady growth, projected to reach $10.05 billion in 2028 at a CAGR of 2.7%. Anticipated growth drivers in the forecast period include market expansion strategies, the growth of smart home technology, safety and durability enhancements, a rising demand for portable devices, and a focus on environmental sustainability. Major trends in this period encompass the adoption of smart home technology, the growth of electric vehicles (EVs), a heightened focus on safety and durability, the digitalization of industries, and the integration of renewable energy sources.
Major Driver In The Alkaline Primary Batteries Market
During the forecast period, the increase in demand for battery-operated toys is expected to drive the demand for alkaline primary batteries. The use of primary batteries such as alkaline batteries in electronic toys is expected to drive the market. Battery-operated toys such as toy cars, dolls, robots, and drones are becoming popular. For example, in November 2022, according to OnBuy’s report, a UK-based online marketplace, sales in their toys and games division have increased dramatically during the past three years, by more than 1772 percent. The growing popularity of battery-operated toys will continue to increase the demand for primary batteries. The increase in demand for battery-operated toys is expected to have a positive impact on the growth of the alkaline batteries market. The market size for 2023 is not provided. For 2024, the market is expected to grow, but specific figures are not mentioned. By 2028, the market is projected to grow further, but specific figures are not available.
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Alkaline Primary Batteries Market Competitive Landscape
Samsung Electronics Co. Ltd., Ford Motor Company, Sony Corporation, Panasonic Holdings Corporation, Fujitsu Ltd., LG Chem Ltd., Toshiba International Corp., EVE Energy Co. Ltd., Spectrum Brands Holdings Inc., Energizer Holdings Inc., Rayovac Corp., Duracell Inc., Maxell Holdings Ltd., Zhejiang Mustang Battery Co. Ltd., VARTA Consumer Batteries GmbH & Co. KGaA, Ningbo Eastar Battery Co. Ltd., GP Batteries International Limited, Gold Peak Technology Group Ltd., Varta AG, FDK Corporation, Nanfu Battery Co. Ltd., Shenzhen Pkcell Battery Co.Ltd., Maxell Ltd., E-One Moli Energy Corp., Camelion Batterien GmbH, Ningbo GP&Sonluk Battery Co. Ltd., Excell Battery Co. Ltd., Zhejiang Yongjiu Power Science and Technology Co. Ltd., Taizhou Jiaojiang Shuangyang Battery Co. Ltd., Shenzhen Shirui Battery Co. Ltd.
Key Alkaline Primary Batteries Market Trend
Changes in packaging techniques for alkaline batteries are the latest trend in the global alkaline primary batteries market. Alkaline battery manufacturers are changing their battery packaging techniques to offer more convenience to their customers. In the past, alkaline batteries were made with complex sealing systems, thick steel outer cases, and end caps. A unique method was developed that allowed manufacturers to use thinner packaging materials and more efficient seals. More room was created for active materials within a given standard cell size, increasing capacity. For instance, Panasonic Corp. has launched their alkaline batteries in packs of 10, believing that the new package size is especially practical for distributors since it allows for more exact calculations.
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Alkaline Primary Batteries Market Segmentation
The alkaline primary batteries market covered in this report is segmented –
1) By Type: Primary, Secondary
2) By Product Type: Speciality Alkaline, Non-Speciality Alkaline
3) By Application: Flashlights, Entertainment, Toy And Novelty, Remote Control, Other Applications
Sub-Segements
By Size: AA, AAA, 9 Volt, Other Sizes
By Geography:The regions covered in the alkaline primary batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia Pacific was the largest region in the alkaline primary batteries market in 2023.
The Alkaline Primary Batteries Global Market Report 2024 furnishes information about the global alkaline primary batteries market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
