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