SLI Battery Market Trends

Growth Drivers

Growing Number of Automobiles – An SLI battery powers the vehicle's three most vital features: the starter motor, illumination, and ignition system. By the end of 2023, car sales are predicted to reach around 70 million.
Rise in the Number of Aircraft– During pre-flight, SLI batteries are used to power up the electrical system and start the Auxiliary Power Unit or the engines of the aircraft.
Higher Production of Lead– Increased production of lead is likely to continue the supply of raw materials for manufacturing SIL batteries. Following an 8% fall in CY 2020 owing to the pandemic, the output of lead-mined metal increased by about 6% in CY 2021 bringing the total to around 5 Mt across the globe.
Higher Adoption of Solar Panels –SIL batteries are a good choice for small-scale solar panel systems or backup power applications. In the Net Zero Emissions by 2050 Scenario, the number of households dependent on solar PV climbs from 25 million now to more than 100 million by 2030 around the world.

Challenges

Increasing adoption of electric vehicles – The automotive industry is undergoing significant technological changes, such as transitioning towards electric and hybrid models of vehicles. SLI batteries are not suitable for hybrid vehicles or EVs as they are unable to provide enough current and are required for sustained driving. Therefore, it compromises its range and performance.
High production of the battery is leading to quality degradation of the battery
The cost of raw materials is high

SLI Battery Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~3%
Base Year Market Size (2022)	~ USD 34 Billion
Forecast Year Market Size (2035)	~ USD 46 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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 Trends