SLI Battery Market Size

SLI Battery Market size is expected to surpass USD 46 Billion by 2035, witnessing around 3% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of SLI battery was USD 34 Billion. The growth of the market is propelled by rising construction activities. The use of SLI batteries increases the demand for cranes and other industrial machinery. For the year 2021, demand was expected to be around 50-60 units for the 20-60 tonnes category and nearly 30-35 units for the 80-100 tons category.

Additionally, the factors that are believed to fuel the growth of the SLI battery market include the rise in demand for these batteries in the automotive sector and other industrial and commercial applications. Smart technologies, such as start-stop systems in the vehicle are increasing the demand for more advanced batteries.

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 Size