SLI Battery Market Analysis | 2023-2028

Market Insights

The SLI Battery Market was estimated at US$ 33.3 billion in 2022 and is expected to grow at a CAGR of 2.8% during 2023-2028 to reach US$ 39.45 billion by 2028.

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What is SLI Battery?

SLI battery is a lead-acid battery that can be recharged and is primarily used in automobile applications. SLI stands for starting, lighting, and ignition as it is used for the three most important features in a vehicle, that is the starter motor, the lighting, and the ignition system, consuming all the energy supplied by the vehicle’s battery.

Market Dynamics

The major factors contributing to the growth of the market are increasing national fleet age across countries including Brazil, India, China, and Indonesia, growing population of vehicles outside the warranty period creating a persistent demand for lead acid batteries, production of high-quality automobiles extending the operational age of vehicles further strengthening the adoption of starter batteries, increase in the economic stability & growth across the developing economies along with optimistic view directed towards the automobile industry during the forecast period.

Segments Analysis

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By Technology Type

The market is segmented as flooded, EFB, and VRLA. VRLA battery offers various features such as high cranking performance along with long service life which is expected to boost the deployment of these units over flooded lead acid batteries. On the other hand, the growing demand for light and heavy commercial vehicles will also fuel business growth during the forecast period. Flooded SLI batteries are based on the oldest battery chemistry and are much more economical as compared to other batteries such as VRLA and EFB, but as flooded LABs need high maintenance costs and are not capable of accumulating energy comparable to VRLA batteries, they are likely to lose their pre-eminence.

By Sales Channel Type

The market is segmented as OEM and aftermarket. Factors such as the increase in investments toward automobile manufacturing across emerging economies along with the shifting of consumer preferences in the direction of personal mobility will have a positive impact on the growth of the OEM SLI battery market. On the other hand, the aftermarket SLI battery market is estimated to be driven by the aggressive expansion by original equipment manufacturers into the aftermarket business coupled with rising investments directed toward customer experience optimization during the forecast period.

Regional Analysis

In terms of regions, Asia-Pacific accounted for more than 30% share of the market. Factors such as robust economic growth and stability along with the expansion and development of various facilities in automobile manufacturing, easily available skilled labor and low-cost production of steel, and optimistic attitude towards the adoption of two-wheelers along with an increase in rates of car ownership are expected to create favorable conditions for automobile manufacturing and product penetration in the regional market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

The rising demand for freight trucks and heavy vehicles along with significant automobile inventory levels and growing investments toward the expansion and development of existing and new automobile manufacturing plants in the U.S. market is expected to fuel the adoption of these units in the market. Additionally, the increase in the production of automobiles along with the growth in economic stability across the European region, regulatory measures to limit vehicular emissions creating the demand for start-stop vehicles are expected to fuel the deployment of EFM and AGM batteries and enhance the industry outlook during the forecast period.

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Key Players

Some of the key players in the SLI battery market are-

• Acumuladores Moura S/A
• Crown Battery Manufacturing Company
• East Penn Manufacturing Co., Inc.
• Enersys
• Exide Technologies
• GS Yuasa Corporation
• Johnson Controls, Inc.
• Leoch International Technology Limited
• Power Sonic Corporation
• Trojan Battery Company.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the technology types by sales channel type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.