The global demand for SLI (Starting, Lighting, and Ignition) batteries is increasing on account of the growing demand for rechargeable batteries in the market. Moreover, the growing demand for these batteries in automobile industry is further expected to propel the demand for SLI batteries over the forecast period.
The demand for automobiles has significantly increased across the globe. This is attributed to the growing consumer disposable income in developing countries in the Asia Pacific region. Additionally, the increasing purchasing power amongst the middle class population along with rising standards of living in the urban areas is further contributing to the growth of automotive industry and thus propelling the demand for SLI batteries across the world.
However, the boosting demand for lithium-ion batteries in the automotive sector is expected to negatively impact the market for SLI batteries over the coming years. Lithium-ion batteries possesses a lower maintenance, and higher voltage capacity & energy density in comparison to other rechargeable batteries including SLI batteries. Moreover, the lithium-ion batteries also have their applications in electric vehicles, unlike SLI batteries. Thus, the growing electric vehicle industry is hampering the growth of these batteries across the globe.
The SLI battery is a rechargeable, lead-acid battery that is widely used in automobiles in internal combustible engines. These are used to start, run and maintain a power supply to the engine. These batteries are not designed for deep discharging, as a full discharge can negatively influence the service life of the battery.
On the basis of type, the market is broadly segmented into VRLA, EBF and flooded batteries. The VRLA segment is forecasted to dominate the market as it is low costing and requires lower maintenance, with respect to other segments. Due to this, it is highly used in automotive applications, which is expected to positively influence the market for VRLA batteries over the forecast period. Based on applications, the market is segmented into automotive and others. The automotive application segment is to dominate due to rapidly developing automotive industry globally.
The North America region dominated the industry on account higher number of battery manufacturers in the region. However, the Asia Pacific region is expected to remain the fastest growing region over the forecast period. This is on account of increasing urbanization and industrialization in developing economies across the Asia Pacific.
Some of the major players operating in the SLI battery market include Johnson Controls., GS Yuasa International Ltd., CROWN BATTERY and Atlasbx Co. Ltd. The competition is expected to grow intensively due to increasing opportunities in the market along with the growth of the automotive industry.
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