SLI Battery Market

SLI Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

SLI battery can be defined as a lead-acid and rechargeable battery. It is mainly used in electric motors in several sectors such as automobile. The term SLI can be elaborated as starting, lighting, and ignition.
Introduction of stringent regulations to minimize carbon emissions and several benefits associated with SLI battery, such as lack of requirement of maintenance and highly economical, are some of the factors estimated to create lucrative opportunities for the SLI battery market

Demand for automobiles has increased significantly across the globe over the last few years owing to the rise in total household income and changing buying patterns of consumers. SLI batteries are employed in automobiles Thus, rise in demand for vehicles is projected to propel the demand for SLI batteries in the near future.
Investment in manufacturing has shifted from developed countries to developing countries over the last few years. This can be ascribed to lower labor cast, land cost, and governmental subsidies. Initial investment to start manufacturing in developing countries is much lower than that required in developed countries. This has resulted in significant rise in household income. Rise in income leads to increased spending on houses, cars, etc. Thus, growth in demand for SLI batteries in developing countries is expected to propel the global SLI battery market.
Rise in demand for lithium-ion batteries in the automobile industry is hampering the SLI battery market. Lithium-ion batteries tend to have higher energy density, voltage capacity, low maintenance, and lower self-discharge rate than other rechargeable batteries. As a result, demand for lithium-ion batteries is high.

The global SLI battery market can be segmented in terms of technology and sales channel
In terms of technology, the global SLI battery market can be divided into flooded, EFB, and VRLA. The VRLA segment can be further sub-divided into AGM and GEL. The flooded segment is anticipated to account for key share of the global market, as flooded batteries are cost-effective and long lasting.
Based on sales channel, the global SLI battery market can be segregated into OEM and aftermarket. The OEM segment is likely to account for large share of the global market in the near future.

In terms of region, the global SLI battery market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
North America dominated the global SLI battery market in 2020 owing to the significantly high number of manufacturers of these batteries in the region. Furthermore, demand for SLI batteries is considerably high in the automobile industry. The U.S. is a major player in the global automobile industry. The country is estimated to dominate the SLI battery market in the region during the forecast period.
The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, due to rise in industrialization and urbanization in China and India. Therefore, demand for SLI batteries is expected to increase significantly in the region in the near future.
The SLI battery market in Europe is anticipated to expand significantly during the forecast period. Europe is a leading region in terms of development of electric vehicles. Therefore, demand for SLI batteries is anticipated to remain high in Europe during the forecast period.

Demand for SLI batteries is significantly high in the automobile industry. However, the COVID-19 pandemic has disrupted the supply chain as well as availability of manpower due to lockdowns in various countries. This has led to a decrease in production of SLI batteries and low demand from end-users. However, increase in sales of electric vehicles over the last few months of 2020 is likely to augment the demand for SIL batteries in the near future.

Global SLI Battery Market: Research Scope

Global SLI Battery Market, by Technology

Global SLI Battery Market, by Sales Channel

Global SLI Battery Market, by Region

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
Asia Pacific
- China
- South Korea
- Japan
- India
- ASEAN
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa