SLI Battery Market Size By Type (Flooded, Enhanced Flooded Battery (EFB), Valve-Regulated Lead-Acid (VRLA)), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), By Application (Automotive, UPS, Telecommunication), By Geographic Scope And Forecast
Published on: 2024-07-13 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
SLI Battery Market Size By Type (Flooded, Enhanced Flooded Battery (EFB), Valve-Regulated Lead-Acid (VRLA)), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), By Application (Automotive, UPS, Telecommunication), By Geographic Scope And Forecast
SLI Battery Market Size and Forecast
SLI Battery Market size was valued at USD 36 Billion in 2024 and is projected to reach USD 44.93 Billion by 2031, growing at a CAGR of 3.1% from 2024 to 2031.
- SLI (Starting, Lighting, and Ignition) batteries are rechargeable batteries that are intended to provide short bursts of high electrical current to start an engine, power vehicle lighting systems, and ignite fuel in combustion engines.
- These batteries are widely utilized in automobiles, trucks, motorcycles, boats, and other internal combustion-powered vehicles.
- The primary feature of SLI batteries is their ability to provide a short burst of energy to start the engine, followed by a relatively quick recharge by the vehicle’s alternator.
- In addition to starting the engine, SLI batteries supply the vehicle’s illumination systems, including headlights, taillights, and interior lights, as well as the ignition system, which initiates combustion.
SLI Battery Market Dynamics
The key market dynamics that are shaping the SLI battery market include
Key Market Drivers
- Growing Automotive Industry The global expansion of the automotive sector increases demand for SLI batteries, as every combustion engine vehicle requires one for starting, lighting, and igniting.
- Increase in Vehicle Ownership Rising personal income levels and urbanization in emerging nations have resulted in greater car ownership, which has boosted demand for SLI batteries for new and replacement vehicles.
- Technological AdvancementsTechnological advancements, such as longer battery life, more efficiency, and a lower environmental imprint, make SLI batteries more enticing to manufacturers and consumers.
- Stringent Emission RegulationsGovernments around the world are enacting tighter emission limits to prevent pollution. This tendency forces automobile manufacturers to focus on dependable and efficient SLI batteries to meet regulatory requirements and increase overall vehicle efficiency.
Key Challenges
- Shift to Electric Vehicles The rising adoption of electric vehicles, which largely employ lithium-ion batteries, poses a substantial threat to the market for traditional lead-acid SLI batteries in automotive applications.
- High Competition from Alternatives Advanced battery technologies such as lithium-ion and nickel-metal hydride provide greater efficiency and longer life spans, challenging SLI batteries’ supremacy in some sectors.
- Environmental Concerns Lead-acid batteries are environmentally hazardous due to their lead content and acid use, increasing regulatory scrutiny and driving consumers to seek more sustainable alternatives, impacting market growth.
Key Trends
- Advancement in Battery Technologies Continuous developments in battery design and materials improve SLI batteries’ efficiency, longevity, and environmental compatibility, meeting increasingly severe automotive norms.
- Increased Focus on Recycling Environmental concerns and regulatory rules supporting sustainability are driving an increase in the recycling and reusing of battery components, particularly lead and plastic.
- Integration of Smart Features The use of smart technology in SLI batteries enables real-time monitoring of battery health and performance, as well as optimization of maintenance schedules and battery life.
- Expansion in Emerging Markets As economic expansion boosts vehicle sales in Asia, Africa, and South America, demand for SLI batteries rises, driven by both new car markets and aftermarket replacements.
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SLI Battery Market Regional Analysis
Here is a more detailed regional analysis of the SLI battery market
Asia Pacific
- According to Market Research, Asia Pacific is estimated to dominate the SLI battery market over the forecast period. Asia Pacific is a major car manufacturing region, with China, India, and Japan leading output, resulting in increased demand for SLI batteries.
- The region’s burgeoning middle class and rising per capita income have resulted in increased car ownership, driving up demand for both new and replacement SLI batteries.
- Asia Pacific has a large number of battery producers, who benefit from lower manufacturing costs and accessibility to raw materials, boosting competitiveness and market growth.
- Furthermore, supportive government policies aimed at promoting the automotive sector, together with attempts to improve transportation infrastructure, have created a favorable environment for the expansion of the SLI battery market in this region.
Europe
- Europe region is estimated to exhibit substantial growth during the forecast period. The growing popularity of electric cars (EVs) drives up demand for SLI batteries in hybrid models, resulting in market growth.
- Demand for SLI batteries as replacements for aging vehicle fleets remains strong in Europe, driving market growth.
- Additionally, the region’s emphasis on technological innovation and investment in battery research and development drives the improvement of SLI battery technologies, resulting in increased market growth and competitiveness.
North America
- North America’s developed automobile market drives a steady need for SLI batteries for maintenance and replacement.
- The region’s rapid adoption of innovative automotive technologies, such as improved SLI battery types with higher performance and durability, drives market expansion.
- Stricter pollution requirements in North America encourage the use of efficient automotive components, such as improved SLI batteries, to reduce environmental impact while improving vehicle performance.
- Furthermore, following economic downturns, recovery and rise in automotive sales, notably in the United States and Canada, raise demand for SLI batteries as vital components in new vehicles.
SLI Battery MarketSegmentation Analysis
The SLI Battery Market is segmented based on Type, Sales Channel, Application, and Geography.
SLI Battery Market, By Type
- Flooded
- Enhanced Flooded Battery (EFB)
- Valve-Regulated Lead-Acid (VRLA)
Based on the Type, the market is segmented into Flooded, Enhanced Flooded Battery (EFB), and Valve-Regulated Lead-Acid (VRLA). The flooded segment is estimated to dominate the SLI battery market. Flooded batteries are the most affordable option in the SLI battery market. As a result, they are the preferred option for budget-conscious consumers, especially in developing countries. Their ubiquitous availability, which comes from a vast network of producers and distributors, reinforces their position. Additionally, flooded batteries are ideal for older automobiles with less sophisticated charging methods. They also supply enough power for most traditional vehicles’ starting, lighting, and ignition requirements, particularly those with shorter commutes.
SLI Battery Market, By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Based on Sales Channel, the market is segmented into Original Equipment Manufacturers (OEMs) and Aftermarket. The OEM segment is estimated to dominate the SLI battery market due to its inherent role in car manufacturing. Every new car requires a SLI battery to work, resulting in a steady and predictable demand for OEM-supplied batteries. Furthermore, automobile manufacturers have formed partnerships with dealerships to ensure that their SLI batteries are the default option for new vehicle sales. Furthermore, SLI batteries for new vehicles must be specifically engineered to work with the vehicle’s electrical system. This frequently drives OEMs to deliver batteries that precisely match their specs, potentially limiting aftermarket possibilities for new car models.
SLI Battery Market, By Application
- Automotive
- UPS
- Telecommunication
- Others
Based on Application, the market is divided into Automotive, UPS, Telecommunication, and Others. The automotive segment is anticipated to dominate the market over the forecast period. The automotive industry’s huge annual vehicle production volume results in a high need for SLI batteries designed expressly for automotive applications. Each vehicle requires an SLI battery to work, hence they are crucial for starting the engine. Unlike applications such as UPS or telecommunications, where alternative power sources may exist, SLI batteries are irreplaceable in this regard. Furthermore, the automobile sector uses a variety of SLI battery types based on vehicle size, engine power, and optional features such as stop-start technology. This variety necessitates a consistent supply of SLI batteries adapted to specific automotive needs, confirming the automotive segment’s dominance in the SLI Battery market by application.
SLI Battery Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Geography, the SLI battery market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is estimated to dominate during the forecasted period. The APAC region is experiencing an increase in vehicle production, particularly in China and India. This increasing automobile industry creates a huge need for SLI batteries, as every new vehicle requires one to work. Along with this fast-rising fleet, APAC has a large population of older vehicles that require traditional SLI battery replacements, which adds to the market size. Rapid urbanization in the region increases car ownership for both personal and commercial uses. The growing urban car population necessitates a continuing demand for SLI batteries. The aftermarket business in APAC is thriving, selling low-cost replacement SLI batteries for older vehicles and appealing to the region’s price-sensitive consumers.
Key Players
The “SLI Battery Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Johnson Controls International plc, Exide Technologies, GS Yuasa Corporation, Panasonic Corporation, Bosch Group, Hyundai Glovis Co., C&D Technologies, East Penn Manufacturing Co., Leoch International Holdings Limited, Mutlu Aku, FIAMM SpA, Yuasa Battery Sales Corporation Ltd., Valvoline Inc., and Deka Batteries.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
SLI Battery Market Recent Developments
- In April 2019, Indian Oil Corporation focused on collaborating with a battery manufacturing business to study new energy storage technologies and improve aging lead-acid batteries. The new technology will assist in extending the life of lead-acid batteries by 30% and reduce charging time by 40%. This innovative technology will aid the growth of the SLI battery industry. This move by the corporation might assist in improving its automotive pump product portfolio.
- In April 2019, EDP in Portugal agreed to install 1000 organic photovoltaic solar panels for two units in Castanheira do Ribatejo and Azambuja. Exide would have to deliver lead-acid batteries for solar plant energy storage.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Johnson Controls International plc, Exide Technologies, GS Yuasa Corporation, Panasonic Corporation, Bosch Group, Hyundai Glovis Co., C&D Technologies, East Penn Manufacturing Co., Leoch International Holdings Limited, Mutlu Aku, FIAMM SpA, Yuasa Battery Sales Corporation Ltd., Valvoline Inc., and Deka Batteries. |
SEGMENTS COVERED | Type, Sales Channel, Application, and Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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