SLI Battery Market Size - By Technology {Flooded, EFB, VRLA (AGM, GEL)}, By Sales Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2024-2032

SLI Battery Market Size

SLI Battery Market was valued at USD 37.8 billion in 2023 and is projected to expand at over 2.4% CAGR from 2024 to 2032, driven by the rising advancements in battery technology.
 

The industry growth is significantly supported by the exponential development of the automotive sector due to the increasing demand for passenger and commercial vehicles resulting from the expanding global population and rising disposable incomes. For instance, as per the International Organization of Motor Vehicle Manufacturers, North America recorded a 7% rise in the manufacturing of light commercial vehicles between 2020 and 2021. Additionally, prominent automakers are introducing newer models and cutting-edge technology to attract a larger consumer base, further driving OEM sales of SLI batteries.
 

SLI Battery Market Analysis

Lead-acid batteries have been the standard choice for the past 150 years, however, in recent years, lithium-ion technology has replaced lead-acid batteries in virtually all devices and vehicles that use rechargeable batteries since lithium batteries outperform lead-acid batteries in terms of energy density, usability, and lifespan. These beneficial qualities of lithium-ion batteries have hampered the use of SLI batteries. Furthermore, mounting government emphasis on expediting electrification across the automotive space is likely to foster the SLI battery market outlook.
 

In terms of technology, the SLI battery market from EFB segment is expected to register nearly 4% growth rate through 2030. EFB batteries are an advanced form of flooded batteries. The increasing penetration of automated start-stop systems and the high preference for EFB batteries across these units are set to propel segment growth. Other important benefits of the technology include improved deep & partial discharge performance, decreased maintenance requirements, and lower emissions, which are foreseen to supplement its adoption in the industry.
 

Based on the sales channel, the OEM segment in SLI battery market is predicted to observe above 2% gains between 2022 and 2030. The expanding global automotive sector has surged the deployment of SLI batteries in new vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), the world's automobile fleet grew by 5% in 2021 compared to 2020. Moreover, non-OEM goods are less expensive, but they do not function well and do not offer warranties, which has increased consumer preference for OEM batteries, further supplementing industry expansion.
 

North America SLI battery market size accounted for USD 8 billion in 2021 owing to the thriving regional automotive sector. Supportive government initiatives and R&D efforts to produce sophisticated energy-efficient starter batteries are creating favorable opportunities for the implementation of new technologies, such as EFB, AGM, and GEL batteries. Notably, governments are increasingly mandating that a portion of a vehicle be entirely or partially battery-powered (cars with both a battery-powered motor and internal combustion engine), which is likely to be lucrative for product adoption in the region.
 

SLI Battery Market Share

Major companies in the SLI battery market are making huge investments to support technological advancements in order to enhance battery performance and provide dependable and effective solutions. To cite an instance, in August 2022, a leading battery manufacturing company, East Penn, announced the opening of a new finishing and distribution facility in Temple, Texas. This new facility was purposed to enable the company to provide quick delivery to its clientele across Texas as well as create several new employment opportunities in the state.
 

Top SLI battery manufacturers are:

• Clarios
• Enersys
• Leoch International Technology Limited
• Crown Battery
• Acumuladores Moura SA
• GS Yuasa Corporation
• Discover Battery
• ACDelco
• Amara Raja Batteries Ltd
• Furukawa Battery Co Ltd
• Hankook AtlasBx Co Ltd
• MOLL Batterien GmbH
• Banner Batteries
• Exide Industries Ltd
• MEBCO
• Erdil Battery
• YigitAKU Mutlu Battery.
   

Impact of COVID-19 Pandemic

The COVID-19 pandemic had an adverse effect on the global economic scenario. Since SLI batteries are primarily used in automotive applications, the massive decline in demand for vehicles in the initial stages of the pandemic as well as the transition to new emission standards in light of escalating climate consciousness hampered the market share. However, in the post-pandemic period, the increasing shift towards electric vehicles and the rising adoption of sustainable electronic devices have fueled the demand for SLI batteries.
 

The SLI battery market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Million Units” & “USD Million” from 2018 to 2030, for the following segments:

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Market Insights, By Technology

• Flooded
• EFB
• VRLA
  • AGM
  • GEL

Market Insights, By Sales Channel

• OEM
• Aftermarket

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • France
  • Germany
  • Italy
  • Netherlands
  • Spain
  • Sweden
  • UK
  • Austria
• Asia Pacific
  • Australia
  • China
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Philippines
  • South Korea
  • Thailand
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Iran
  • Egypt
  • Turkey
  • Morocco
  • South Africa
  • Nigeria
  • Algeria
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Chile
  • Colombia
  • Ecuador
  • Paraguay
  • Peru
  • Uruguay