Alkaline Battery Market To Witness 5.24% CAGR By 2031 | Skyquest Technology

(MENAFN- GlobeNewsWire - Nasdaq) Westford, USA, Dec. 13, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Alkaline Battery Market size will attain the value of USD 12.89 billion by 2031, with a CAGR of 5.24% during the forecast period (2024-2031). Innovative and technological advancement in alkaline batteries is a major factor in the alkaline battery market trend. The use of carbon in the cathode mixture to improve lifetime and electrical efficiency is a recent development in alkaline batteries. Increased capacity and lifespan will fuel the market growth of alkaline battery market forecast. The use of this alkaline battery in the field medical health care facility helps the system to collect vital patient data even during power outages and that greatly helps organizations. Owing to all these features offered by alkaline batteries, the market is expected to grow notably in the future.

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• Tables - 91

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Alkaline Battery Market Overview:

Report Coverage	Details
Market Revenue in 2023	USD 8.56 billion
Estimated Value by 2031	USD 12.89 billion
Growth Rate	Poised to grow at a CAGR of 5.24%
Forecast Period	2024–2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Size, Applications and Region
Geographies Covered	North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights	Increasing Use in Remote and Off-Grid Applications
Key Market Opportunities	Growing Demand in Emerging Markets for Low-Cost Power Solutions
Key Market Drivers	Rising Demand for Consumer Electronics and Portable Devices

Primary Battery Segment to Dominate due to Consumer Spending Patterns

In 2023, the primary battery segment held the alkaline battery market share. This dominance is due to the various applications of these batteries in domestic and in various electronic components. Consumer spending patterns indicate a significant increase in the consumption of electronics which is reflected in the dominant market share of batteries.

AA Segment is Growing due to Increasing Use of TV Remotes

AA segment led the market segment in 2023 and is expected to grow at an unprecedented rate during the forecast period. With large storage capacity, long life of this battery type is augmenting its demand in various portable and mobile devices. The increasing use of tv remotes, digital cameras and portable stereos will contribute to the growth of the market segment in the coming period.

North America to Dominating Owing to Increasing Demand for Consumer Electronics

In 2023, the North America region accounted for 51% of the market revenue, accounting for the largest share of the alkaline battery market. As the increasing demand for consumer electronics in the region and the use of alkaline batteries in healthcare devices, military products and industries. North America dominates the alkaline battery market throughout the forecast period.
Asia-Pacific is expected to show the highest growth rate after North America and has the second largest market share in the alkaline battery market. Factors driving market growth are driving demand for portable electronics increased in the region and will remain so in the coming period and alkaline will drive the market growth.

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Drivers

• Rising Demand for Consumer Electronics and Portable Devices
• Cost-Effectiveness and Long Shelf Life of Alkaline Batteries
• Increasing Use in Remote and Off-Grid Applications

Restraints

• Environmental Concerns Related to Battery Disposal
• Limited Rechargeability Compared to Other Battery Types
• Fluctuations in Raw Material Prices

Prominent Players in Alkaline Battery Market
The following are the Top Alkaline Companies

• Duracell Inc
• Energizer Holdings Inc.
• Panasonic Corporation
• Toshiba Corporation
• GP Batteries International Ltd.
• Rayovac
• Sony Corporation
• Fujitsu Limited
• Hitachi Maxell Ltd.
• Samsung SDI Co., Ltd.

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Key Questions Answered in Alkaline Battery Market Report

• What are the growth factors of the market?
• Which is the dominating region in the market?
• Who are the key restraints of the market?
• What are the key trends of the market?
  

This report provides the following insights:

• Analysis of key drivers (rising demand for consumer electronics and portable devices, cost-effectiveness and long shelf life of alkaline batteries), restraints (environmental concerns related to battery disposal, limited rechargeability compared to other battery types), opportunities (growing demand in emerging markets for low-cost power solutions, technological advancements in alkaline battery chemistry, increasing use in medical and healthcare devices) influencing the growth of Alkaline Battery Market.

• Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Alkaline Battery Market.

• Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Alkaline Battery Market.

• Market Growth: Detailed information on profitable growing industries.

• Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.

• Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.

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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, Cleantech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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