Home Artificial Intelligence Alkaline Battery Market to Reach USD 10.71 Billion by 2027; Increasing Technological...

Alkaline Battery Market to Reach USD 10.71 Billion by 2027; Increasing Technological Advancements to Boost Growth, says Fortune Business Insights™

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Pune, July 21, 2020 (GLOBE NEWSWIRE) — The global alkaline battery market is set to gain traction from the ongoing developments in batteries. It has resulted in the rising usage of carbon in the cathode mix to surge efficiency. The demand for alkaline batteries would further increase owing to their high performance capabilities. This information is given by Fortune Business Insights™ in a recently published report, titled, “Alkaline Battery Market Size, Share and COVID-19 Impact Analysis, By Product (Primary and Secondary), By Size (AA, AAA, 9 Volt, and Others), By Application (Remote Control, Consumer Electronics, Toys & Radios, and Others), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 7.48 billion in 2019 and is projected to reach USD 10.71 billion by 2027, thereby exhibiting a CAGR of 4.8% during the forecast period.This Report Answers the Following Questions:Will COVID-19 impact the market severely?Which segment is set to lead the market in the near future?What are the growth drivers, dynamics, and restraints of the market?Which strategies are adopted by companies to gain more revenue?
To get to know more about the short-term and long-term impacts of COVID-19 on this market,
Rising Consumer Spending on Electronic Products to Spur GrowthConsumer spending is considered to be a very crucial part of gross domestic product (GDP) that maintains the economic stability of a country. Rising consumer spending on electronic products worldwide is a major factor that is set to propel the alkaline battery market growth in the coming years. The U.S. Bureau of Labor Statistics mentioned that in 2018, the average expenditure per consumer was USD 61,224. It shows a hike of up to 1.9% from 2017. Alkaline batteries are majorly used in electronic gadgets and household appliances. These factors would boost the market growth.How will the COVID-19 Pandemic Affect Market Growth?The COVID-19 pandemic can pose a threat to the global market.This is set to occur because of the lockdown measures in the countries, such as India and China. These countries are the major producers of electronic products.There is a decline in the demand for spending on such products as the masses are buying only those items that are very essential.Segment-Consumer Electronics Segment to Lead Owing to Their High Demand WorldwideBased on application, the market is fragmented into remote control, toys & radios, consumer electronics, and others. Out of these, the consumer electronics segment procured 38.7% in terms of alkaline battery market share in 2019. This segment is likely to lead throughout the forthcoming years stoked by the high demand for alkaline batteries in GPS, MP3 players, smartphones, computers, and laptops. These products are exhibiting more popularity across the globe. The toys & radios segment is set to hold the second position fueled by the increasing usage of these batteries in walkie-talkies and several toys.North America to Dominate Stoked by Rising Investments in Healthcare SectorRegionally, North America generated USD 3.46 billion in 2019 in terms of revenue. This growth is attributable to the contribution of the U.S. as it is experiencing higher consumer spending, as well as rising adoption of consumer electronic products. Apart from that, alkaline batteries are utilized in industrial, healthcare, and military applications. Also, the rising investments in the healthcare sector in this region would augment the market growth.Asia Pacific, on the other hand, is expected to remain in the second position owing to the rising demand for electronic products. The International Monetary Fund (IMF), for instance, declared that the growth in the developing and emerging Asian countries is anticipated to surge slightly to 5.8% in 2020 and 5.9% in 2021 from 5.6% in 2019. This exhibits that the rising consumer spending would also aid in the market growth in this region.Competitive Landscape-Key Players Aim to Launch Novel Alkaline Batteries for Strengthening PositionThe market consists of several big, small, and medium-sized enterprises. They are nowadays focusing on launching new products to attract more consumers and to gain a competitive edge. Presently, Gold Peak Industries (Holdings) Limited, Camelion Batterien GmbH, Energizer Holdings, and Duracell Inc. are in the dominant positions. Below are two of the significant industry developments:February 2019: Duracell unveiled Duracell Ultra, its latest alkaline battery. It is capable of providing up to 100 percent more power. The company’s main aim was to satiate the rising need for power hungry devices. Families can now rely on the new batteries to power their devices and toys with unstoppable and safe quality power.May 2017: Panasonic Corporation introduced its new Powerline series consisting of a pack of 10 alkaline batteries. Produced in Europe, they can have long life, high reliability, and low self-discharge. They are being highly demanded from the distributors and original equipment manufacturers (OEMs).
Fortune Business Insights™ lists out the names of all the alkaline battery manufacturers operating in the global market. They are as follows:
Duracell Inc. (US)Energizer Holdings (US)Camelion Batterien GmbH (Germany)Gold Peak Industries (Holdings) Limited (Hong Kong)Sanyo (Japan)Sony (Japan)Maxell Holdings, Ltd. (Japan)Toshiba International Corp (US)Zhejiang Mustang Battery Co., Ltd. (China)Panasonic Corporation (Japan)FDK Corporation (Japan)GPB International Limited (Germany)
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IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesLatest Technological AdvancementRegulatory LandscapeIndustry SWOT AnalysisPorters Five Forces AnalysisQualitative Analysis – Impact of COVID-19Impact of COVID-19 on the Alkaline Battery MarketSteps Taken by the Government to Overcome the ImpactKey Developments in the Industry in Response to COVID-19Potential Opportunities and Challenges due to COVID-19 OutbreakGlobal Alkaline Battery Market Analysis (USD Billion), Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductPrimary Alkaline BatterySecondary Alkaline BatteryMarket Analysis, Insights and Forecast – By SizeAAAAA9 VoltOthersMarket Analysis, Insights and Forecast – By ApplicationRemote ControlConsumer ElectronicsToys & RadiosOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaLatin AmericaEuropeAsia PacificMiddle East and AfricaTOC Continued…!!!
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