ROCKVILLE, Md., Jan. 4, 2017 /PRNewswire/ -- In this age of expanding technological availability and reliance, energy is everything. Even seemingly simple household batteries play an important role in the lives of many Americans, according to market research firm Packaged Facts in the report Batteries: Consumer Market Trends in the U.S.
"The devices powered by household batteries range from the likes of clocks that have a low demand drain on the power stored in the batteries to high-drain devices, especially portable electronic communications and computing devices," comments David Sprinkle, research director, Packaged Facts.
In the report, Packaged Facts estimates the U.S. market for household batteries was $4.5 billion in 2015, up nearly 2.5% over 2014's sales. The overall market increased at a compound annual growth rate (CAGR) of 2.4% for the period 2011 to 2015. View additional information about Batteries: Consumer Market Trends in the U.S., including purchase options, the abstract, table of contents, and related reports at Packaged Facts' website: http://www.packagedfacts.com/Household-Batteries-Consumer-10122624/.
Looking ahead, sales of household batteries will reach $5.2 billion by the year 2020. Lithium-ion rechargeable batteries will see the greatest increase, with a CAGR of almost 12%, and surpass alkaline disposable batteries as the largest segment of the overall household batteries category.
Further, lithium will have a 46% share of the market in 2020, up from its 34% share in 2015. Supporting the rise in rechargeable lithium-ion battery sales is their use in electronic cigarettes.
"The market for e-cigarettes as tobacco alternatives has grown at triple digit rates over the past decade. There are signs that the rate has slowed to double digits as smokers go back to real tobacco while product development continues," comments Sprinkle.
Still, younger smokers seem to account for a growing portion of the consumer base for e-cigarettes and despite the relative slowdown in market growth, the overall trend is toward continued expansion. This is supported by the entry into the market of mainstream tobacco companies. These companies could well take over the entire market in the next few years. But even if they do not, their participation will lead to greater availability of batteries for e-cigarettes in supermarkets, convenience stores, and other retail outlets in which the batteries have previously lacked traction. In the current market, it appears that most of the e-cigarette battery sales are through online vendors, which has actually helped grow the internet as a source for battery sales overall.
About the Report
Batteries: Consumer Market Trends in the U.S. covers the sales of household batteries sold through all types of retail outlets, including supermarkets, discount stores and supercenters, warehouse clubs, and mass merchandisers, as well as convenience stores, drugstores, hardware stores, small groceries, and the Internet. The report discusses the factors affecting the market including technological developments and changing consumer needs.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.
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SOURCE Packaged Facts