SLI Battery Market Share

North American Market Forecast

The SLI battery market in North America is predicted to be the largest with a share of about 35% by 2035. The growth of the market is driven by the increasing use of solar panels at both residential and commercial levels. According to the National Renewable Energy Laboratory, the number of US households with installed solar panels has climbed by an average of 32% per year since then. There were around 2.7 million household solar systems in the United States by the end of 2020. Residential solar provided enough power to power an average of approximately 633,000 houses in 2014 and almost 1.9 million homes in 2019.

APAC Market Statistics

The Asia Pacific SLI battery market is slated to register a significant share of about 28% by 2035. The market growth is credited to the rising capacity of grid power systems. In 2021, China's off-grid renewable energy capacity increased by almost 5% to 906.23 gigawatts. The region's market growth is also being linked to an increase in the number of lead acid battery importers. Under Rule 5 of the Batteries (Management & Handling) Regulations, 2001, the Ministry of Environment, Forest & Climate Change (MoEFCC) / Central Pollution Control Board has registered 82 importers of lead-acid batteries in India.

Frequently Asked Questions (FAQ)

Increasing demand for automobiles, higher use of aircraft, and growing construction are the major factors driving the market growth.

The market size of SLI batteries is anticipated to attain a CAGR of ~3% over the forecast period, i.e., 2023-2035.

High cost of the raw material, and the rising popularity of electric vehicles are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Leoch International Technology Ltd., Yokohama Group of Companies, Enersys, Camel Energy Inc., GS Yuasa Corporation, Hoppecke Batterien GmbH & Co. KG., Crown Battery, C&D Technologies, Inc., Gridtential Energy, Inc., and Stryten Energy LLC

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, sales channel, application, and by region.

The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

SLI Battery Market Share