Technological advancements across the automotive sector and the ever-expanding automobile consumer base is anticipated to drive SLI battery market growth. Additionally, the improving automotive technologies demand increasing number of electronic fittings, which will create new opportunities for high capacity power storage solutions, propelling the need for high capacity SLI batteries. Furthermore, the refined techniques of battery recycling have improved battery re-usability, and the capability to re-use battery materials for production of new batteries will foster SLI battery industry outlook.
Germany SLI Battery Market Size, By Sales Channel, 2018 & 2025 (USD Million)
SLI batteries are specific batteries used for automobile applications and are designed to remain fully charged for consistent automotive functionalities. On-going improvement in SLI battery technology focusing on development of high-performance power batteries will satisfy power requirements of the escalating automotive technologies.
Flooded lead acid batteries exist since long and have continued to gain traction on account of their ability to provide high currents at lower cost. They are the least expensive power storage solutions for vehicles. If maintained regularly, they provide the longest lifespan when compared to the other SLI batteries types. High tolerance to over-charging and extreme robustness coupled with cheap prices can propel product demand for flooded SLI.
Several years of R&D in flooded battery technology have given rise to a new flooded battery type called as EFB battery. In terms of functionality the EFB still relies on the older flooded battery design, except for the addition of carbon additives during the plate manufacturing process. The primary benefits of enhanced flooded SLI battery are optimized charge acceptance along with higher number of charging cycles. Growing demand for high performance automobile batteries will boost EFB technology based SLI battery market share.
The new generation maintenance free SLI batteries, known as the VRLA technology, comprise absorbent glass mat (AGM) and gel batteries. VRLA batteries are very popular for their functionalities in a wide range of conditions. These battery types are resistant to vibration and can be mounted in any orientation. Moreover, owing to the leakproof nature, VRLA batteries avoid any corrosion issues from fluid leaks in the vehicle. Considering the benefits, most of the recently sold car battery types constitute VRLA SLI batteries. In this context, the increasing automobile production rate across the globe is thus poised to transform VRLA SLI battery market forecast.
Russia SLI battery market is anticipated to grow exponentially owing to the increasing automobile production complemented by the improving economic stability. In addition, favorable government policies to strengthen local automobile industry and improve export share will lead to immense product adoption in the region.
Reportedly the Russia Government has approved a plan to enhance Russian automotive industry by the end of 2025. The main purpose of this regulatory move is to solve the systematic complications of the industry including low share of exports, slow development in car component manufacturers, and low acceptance of new product arrivals.
Along with the developed countries, the emerging economies will also witness sharp growth in automobile sales, further augmenting the SLI battery industry landscape. For instance, Mexico SLI battery market size is expected to exceed 10 million units by 2025, favored by the availability of industrial labors on low wages and aggressive manufacturing incentives.
The Middle East & Africa SLI battery market is also anticipated to witness strong growth during the forecast period pertaining to the increasing in regional per capita income. Also recovering economic conditions coupled with growing construction activities will generate immense demand for commercial vehicles like buses and trucks which in turn will propel product demand.
SLI battery market will witnessing immense traction on account of the dependency of the automotive sector on the product. Additionally, improvement in quality of vehicle manufacturing coupled with the increased spending toward automobile maintenance will support SLI battery market trends. Also, the creation of robust battery recycling processes slated to overcome the environmental concerns will aid in SLI battery market expansion.
Significant industry players across the SLI battery market include Exide, ACDelco, Banner Batteries, Interstate Batteries, Mutlu Battery, Power Sonic Corporation, Crown Battery, Dyno Battery, Trojan Battery, FIAMM, Erdil Battery, Banner, Leoch International, Braille Battery, Enersys, Johnson Controls, and East Penn.