India Alkaline Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Alkaline Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India alkaline battery market is expected to grow at a CAGR of around 5.5% during the forecast period. With the COVID-19 outbreak in Q1 of 2020, India’s manufacturing industry including the alkaline battery market was significantly impacted due to lockdown and travel restrictions. Lockdown shut down manufacturing units and impacted raw material procurement such as manganese from South Africa, Australia, and a few other countries. Factor such as the prolonged activity of alkaline batteries over zinc-carbon batteries is likely going to drive the alkaline battery market. However, the increasing competition from lithium-ion batteries having more energy density is expected to restrain the alkaline battery market during the forecast period.

Key Highlights

• Due to being cost-effective and eco-friendly, the primary battery segment is likely going to be the largest in the alkaline battery market.
• Per capita consumption of batteries in India continues to remain quite low as compared to other developed countries. It indicates an opportunity for the market to grow in the near future. Batteries are the cheapest source of portable power, and its consumption is always expected to grow with the arrival of new appliances, growth of income levels and changing life style.
• Increasing per capita in income is likely to drive the market studied during the forecast period.

Key Market TrendsPrimary Segment is Expected to Dominate the Market

• The alkaline batteries use alkaline electrolytes, with zinc and manganese oxide with electrodes. The alkaline electrolyte used in these batteries includes potassium or sodium hydroxide, in which the electrodes are immersed.
• The primary alkaline battery also is known as disposable consumer batteries, owing to the numerous advantages of primary batteries, such as low cost, wide applications across consumer electronics such as flashlights, calculators, clocks, and smoke alarms, the demand for primary alkaline batteries remains high, worldwide.
• In 2020, the Indian military expenditure increases to 2.8% of the GDP, an increase of around 0.3% from the previous year. Moreover, the election commission of India has allocated INR 1005 crore for procurement of ballot units, control units, and voter-verifiable paper audit trail units (VVPATS), and ancillary expenditure on EVMs, and destruction of obsolete voting machines.
• Moreover, India has added electronic gears in their armies, such as torch lights, night visions, etc. These equipments are likely to use primary alkaline batteries for their proper functioning, thud driving the market for primary alkaline batteries.
• The global manufacturers of alkaline batteries are focusing on expanding their business in countries like India, which include the launch of new, low-cost products in the country. These products are likely to drive the primary alkaline battery segment.
• Hence, owing to the above points, the primary segment is likely going to be the largest in the alkaline battery market during the forecast period.

Increasing per Capita Income is Likely to Drive the Market

• Demand for consumer electronics is increasing on the back of rising income. This trend is expected to continue even as other factors like rising rural incomes, increasing urbanization, a growing middle class, and changing lifestyles.
• Significant growth in income and easy financing schemes have led to shortened product replacement cycles.
• In October 2020, Samsung’s consumer electronics business in India increased by more than 30%, due to increased demand from smaller cities, which are racing ahead of metros.
• As per the International Monetary Fund, the Per capita GDP of India is expected to reach USD 3,114 in 2026 from USD 1,964 in 2020.
• Growth in e-commerce platforms is a key factor to reach out as a more convenient channel for buyers. Hence such a scenario, along with an increase in income is expected to increase sales of consumer electronics, leading to growth in demand for alkaline batteries in India.

Competitive Landscape

The India alkaline battery market is fragmented. The key players in the market include Duracell Inc., Indo National Limited, Eveready Industries India Ltd., Panasonic Energy India Co Ltd, and Geep Industries Pvt. Ltd. among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Duracell Inc.
Indo National Limited
Eveready Industries India Ltd
Panasonic Energy India Co Ltd
Geep Industries Pvt. Ltd
GPB International Limited
FUTURISTIC IDC Pvt. Ltd
Sony Group Corporation

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