Global Alkaline Battery Market Charge Up to $10.81 Billion by 2028 | Top 3 Players to Mint Over 80% Market Revenue
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).
Westford, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) — Global alkaline battery market is growing at a steady CAGR of 4.75%. The report forecasts that the market will reach $10.81 billion by 2028. This growth is driven by rising demand for portable electronic devices, such as laptops, smartphones and tablets. As a result, manufacturers have been able to raise prices, resulting in industry profit margins expanding over the seven-year period. Looking forward, SkyQuest expects revenue for the alkaline battery market to continue growing, albeit at a slower rate of 3.7% annually over the next five years. This growth will be supported by continued demand for portable electronic devices as well as medical equipment and other industrial applications. However, competition from newer technologies, such as lithium-ion batteries, is expected to put downward pressure on prices and Margins.
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SkyQuest is Positive about Future of Alkaline Battery Market Despite Growing Penetration Alternatives
SkyQuest’s research shows that the Asia-Pacific region is the fastest-growing market for alkaline batteries, with a CAGR of 7.1% from 2022 to 2028. On the other hand, North America is expected to continue to be the dominant force in the global alkaline battery market, due to the growing demand from end-use industries such as consumer electronics and electrical & lighting. In terms of growth rate, North America is forecast to be the second-fastest growing market for alkaline batteries, with a CAGR of 3.8%. This can be attributed to the increasing demand for portable electronic devices and the rising popularity of rechargeable alkaline batteries in the region.
However, in the years to come, North America and Europe are likely to witness a decline in the demand for alkaline batteries. This decline is not evenly spread across all regions. In developed countries, such as the USA, Western Europe and Japan, the decline will be much sharper, due to the increasing availability of alternative power sources. However, in developing countries, such as India and China, demand for alkaline batteries is still growing strongly. This is due to a number of factors, including a lack of infrastructure for alternative power sources and a preference for disposable batteries over rechargeables.
Apart from this, there are some challenges that the players in the global alkaline battery market will face during this growth phase. For instance, raw material prices are expected to rise which will put pressure on margins. In addition, the industry is highly competitive and companies will need to invest in research and development in order to stay ahead of the competition. Despite these challenges, SkyQuest remains positive about the future of the alkaline battery industry. With continued growth in emerging markets and continued innovation, we believe that the industry will continue to prosper in the years to come.
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Alkaline Battery Market is Highly Competitive Where Top 3 Players Hold Less than 80% Market Share
The alkaline battery market is highly competitive, with several large manufacturers vying for market share. In terms of market share, Energizer holds the largest share, followed by Duracell, Panasonic, and Sony. In terms of overall revenue, Energizer generated $3 billion in 2021, followed by Duracell ($2.1 billion), Panasonic, and Sony.
Due to the competitive nature of the alkaline battery industry, manufacturers are constantly innovating in order to improve their products and gain an edge over their rivals. For example, Duracell has recently launched a new line of “Quantum” batteries that promises to be 20% more powerful than its previous offerings. While the alkaline battery market is highly competitive, it is also growing at a healthy rate. Global sales are expected to reach $10.81 billion by 2020, up from $7.81 billion in 2021. This growth is being driven by increasing demand from developing markets such as India and China, where consumers are buying more and more electronic devices that require batteries.
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Energizer to Continue Dominating Global Alkaline Battery Market
SkyQuest’s outlook of Energizer in alkaline battery industry is very optimistic. We believe that Energizer has a strong chance of keeping the global leader position in alkaline batteries until the next seven years. This is based on analysis of the company’s financials, product portfolio, and competitive advantages. Energizer has been one of the most successful battery companies in recent years, thanks to their focus on innovation and quality. Their products are some of the most popular on the market, and they have a wide range of offerings to suit different needs. In addition, they have a strong distribution network and brand recognition.
Our analysts believe that Energizer’s greatest strength lies in their ability to continue innovating and bringing new products to market. They have shown time and again that they are not afraid to invest in research and development, and this has led to some major breakthroughs. In particular, their work on improving lithium-ion batteries has been groundbreaking, and it is this technology that will power many of the next generation of devices. The alkaline battery market is growing rapidly, and Energizer is well-positioned to take advantage of this trend. Thanks to their strong product portfolio, competitive advantages, and financial stability.
Consolidation is Enviable in Alkaline Battery Market
In recent years, the alkaline battery industry has become increasingly consolidated, with the top three players accounting for an ever-larger share of the market. SkyQuest’s latest analysis shows that these top three firms – Duracell, Energizer and Panasonic – now account for more than 80% of the global market. The analysis shows that this consolidation is set to continue in the coming years, as the top three firms look to increase their share of the market through a combination of organic growth and acquisitions.
Indeed, we expect that the top three will account for close to 90% of the global market by 2028. This consolidation is being driven by a number of factors, including economies of scale, product differentiation and customer loyalty. The top three firms have been able to use their size and scale to invest in R&D and marketing, which has allowed them to develop differentiated products and build strong customer loyalty. Looking forward, we expect the alkaline battery market to continue to be dominated by the top three firms.
However, there are a number of potential risks that could disrupt this trend. Firstly, new technologies could erode the demand for alkaline batteries. Secondly, raw material prices could rise sharply, which would put pressure on margins. Thirdly, consolidation amongst distributors could lead to greater bargaining power and reduce margins further. If you’re looking to invest in the alkaline battery industry, it’s important to keep an eye on this aspect.
Top Players in Global Alkaline Battery Market
- Duracell Inc. (US)
- Energizer Holdings Inc. (US)
- Ultralife Corporation (US)
- EnerSys (US)
- Camelion Batterien GmbH (Germany)
- Fujian Nanping Nanfu Battery Co. Ltd. (China)
- VARTA AG (Germany)
- Gold Peak Industries Ltd. (Hong Kong)
- GS Yuasa Corporation (Japan)
- Contemporary Amperex Technology Co. Limited (China)
- Sanyo (Japan)
- Sony (Japan)
- Maxell Holdings Ltd. (Japan)
- Toshiba Corporation (Japan)
- Zhejiang Mustang Battery Co. Ltd. (China)
- Panasonic Corporation (Japan)
- FDK Corporation (Japan)
- GPB International Limited (Germany)
- Koninklijke Philips N.V (Netherlands)
- Exide Corporation (US)
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