Rising disposable incomes of consumers and their ability to purchase new vehicles have significantly proliferated the America SLI battery market, combined with the steady development of innovative automobile features. Electronic systems have become an inevitable part of all automotive offerings and entail different levels of load on batteries supporting them. Millions of existing cars represent a massive target base for the replacement of batteries and will certainly bring in notable revenues for the America SLI battery industry, particularly from the sale of conventional lead-acid products. Consistent demand for products which last longer, have better charge acceptance and can handle larger workload will augment the consumption of emerging technologies like enhanced flooded batteries (EFB) and absorbent glass mat (AGM) batteries.
Brazil SLI Battery Market Size, By Technology, 2018 & 2025 (USD Million)
AGM batteries specifically are able to provide vast reserves of power and are suitable as a replacement option in older passenger cars and trucks as well, which can in turn benefit from the technology’s longer service life. Primary advantage of endorsing this car battery type is the fact that it is maintenance free and does not leak, lessening overall costs over a period of time otherwise experienced with conventional lead-acid batteries. Usually, commercial vehicles are subject to continuous usage over a number of shifts to perform various tasks like heavy lifting, long-distance transport of goods as well as traversing over difficult terrains. AGM batteries show superior capabilities to endure these high loads and could account for a higher share of the America SLI battery market over the coming years.
The OICA has reported that in 2018, total number of commercial vehicles produced in the U.S. was around 8.51 million, while production in Mexico had also reached approx. 2.52 million. Both countries registered increased production as compared to the previous year. As evident, SLI battery industry holds tremendous potential in the Americas, especially with innumerable light commercial vehicles being operated across farms, industrial estates and local businesses. Besides, urban trucks today are equipped with various electrically powered components and specialized tools, which were limited by conventional battery technology. AGM battery has deeper charging cycles and also can easily start after long resting period, further propagating the product’s utility. Advent of novel automotive technologies to support eco-friendly initiatives and improve fuel economies have provided additional growth avenues for the America SLI battery market.
Innovative automobile systems to influence development of the America SLI battery industry
Generally, working of car battery did not affect how consumers viewed a vehicle and what impacts they have on the environment. The America SLI battery market has been transforming as people become more aware about quality and performance of vehicle components in conjunction with the development of hybrid, micro-hybrid and electric vehicles. Revolutionary systems being introduced in vehicles to enhance fuel efficiency have created a need to deploy high power, long lasting batteries that can withstand continuous charging cycles and do not require adding water to the car battery. AGM batteries are ideal for systems such as start & stop and regenerative breaking:
In a nutshell, the America SLI battery industry can be expected to see remarkable growth from the consistent demand for commercial vehicles and rising adoption of fuel saving technologies in countries like the U.S., Canada, Brazil and Mexico. Shifting preference of automakers to produce hybrid versions of passenger cars may also influence the industry dynamics. Reports estimate that the America SLI battery market will surpass a valuation of US$16 billion by 2025.